CenterPoint Energy Houston Electric, a unit of CenterPoint Energy Inc., announced last week that it has reached a settlement in a rate case before the Public Utility Commission of Texas. The settlement will reduce the company's electric base rate revenues by $58 million per year and will commit CenterPoint Energy Houston Electric to increase its energy efficiency spending by $10 million annually. The settlement also freezes electric delivery rates until June 30, 2010. In addition, CenterPoint will fund $10 million per year for programs providing financial assistance to qualified low-income customers in its service territory. The company expects to implement the new base rates, to increase its energy efficiency spending and to begin the agreed funding for financial assistance programs later this fall, following approval of the settlement by the PUC.

Read more about CenterPoint Energy in their company newsroom.