CenterPoint Energy has launched a $65 million capital improvement plan that will focus on building and maintaining a “resilient” electric grid. Photo via centerpointenergy.com
To support rising demand for power, Houston-based utility company CenterPoint Energy has launched a $65 billion, 10-year capital improvement plan.
CenterPoint said that in its four-state service territory — Texas, Indiana, Minnesota and Ohio — the money will go toward building and maintaining a “resilient” electric grid and a safe natural gas system.
In the Houston area, CenterPoint forecasts peak demand for electricity will increase nearly 50 percent, to almost 31 gigawatts, by 2031 and peak demand will climb to almost 42 gigawatts by the middle of the next decade. CenterPoint provides energy to nearly 2.8 million customers in the Houston area.
In addition to the $65 billion capital improvement budget, which is almost 40 percent higher than the 2021 budget, CenterPoint has identified more than $10 billion in investment opportunities that could further improve electric and natural gas service.
“Every investment we make at CenterPoint is in service of our approximately seven million metered customers we have the privilege to serve,” CenterPoint president and CEO Jason Wells said in a news release.
“With our customer-driven yet conservative approach to growth, we continue to see significant potential for even more investment for the benefit of our customers that is not yet reflected in our new plan,” he added.