power report

Summer outages remain major concern despite CenterPoint upgrades, report shows

A new UH survey shows Harris County residents fear power outages more than flooding or wind when severe weather hits. Photo via Getty Images.

A new survey from the University of Houston Hobby School of Public Affairs showed that nearly 70 percent of 2,300 Harris County registered voters polled were very worried or moderately worried about losing power this summer.

The survey asked residents questions about the potential impact of severe summer weather and to evaluate CenterPoint’s efforts to improve the electrical grid over the past year. It was conducted between July 9-18.

Among the three severe weather threats studied—being without power, high winds and flooding—loss of power was the primary concern among respondents. When asked to what extent residents were worried about being without power:

  • 42 percent were very worried
  • 27 percent were moderately worried
  • 19 percent were a little worried
  • 12 percent were not worried at all

Only 25 percent of respondents reported they were very worried about wind damage, and 20 percent were very worried about flooding.

The report also found that 63 percent of respondents held an unfavorable opinion of CenterPoint Energy.

And despite CenterPoint’s $3.2 billion Systemwide Resiliency Plan (SRP), partnerships with AI companies, and its ongoing Greater Houston Resiliency Initiative (GHRI), 44 percent of respondents said they believe CenterPoint has made only "a little bit" progress on improving the grid's overall reliability.

CenterPoint maintains that the SRP is expected to reduce storm-related outages by 1 billion minutes for its 2.8 million customers by 2029. The company also recently reported a 45 percent reduction in the duration of outages for individual customers from January to June of this year.

“We believe that these resiliency actions will help create a future with fewer outages that impact smaller clusters of customers, coupled with faster restoration times for our Greater Houston communities,” Jason Wells, president and CEO of CenterPoint, previously said in a news release.

Read the full report that includes demographic explanations here.

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A View From HETI

Fervo Energy is targeting a listing on the Nasdaq exchange. Photo courtesy Fervo Energy

Fervo Energy has officially filed for IPO.

The Houston-based geothermal unicorn filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission on April 17 to list its Class A common stock on the Nasdaq exchange. Fervo intends to be listed under the ticker symbol "FRVO."

The number and price of the shares have not yet been determined, according to a news release from Fervo. J.P. Morgan, BofA Securities, RBC Capital Markets and Barclays are leading the offering.

The highly anticipated filing comes as Fervo readies its flagship Cape Station geothermal project to deliver its first power later this year

"Today, miles-long lines for gasoline have been replaced by lines for electricity. Tech companies compete for megawatts to claim AI market share. Manufacturers jockey for power to strengthen American industry. Utilities demand clean, firm electricity to stabilize the grid," Fervo CEO Tim Latimer shared in the filing. "Fervo is prepared to serve all of these customers. Not with complex, idiosyncratic projects but with a simplified, standardized product capable of delivering around-the-clock, carbon-free power using proven oil and gas technology."

Fervo has been preparing to file for IPO for months. Axios Pro first reported that the company "quietly" filed for an IPO in January and estimated it would be valued between $2 billion and $3 billion.

Fervo also closed $421 million in non-recourse debt financing for the first phase of Cape Station last month and raised a $462 million Series E in December. The company also announced the addition of four heavyweights to its board of directors last week, including Meg Whitman, former CEO of eBay, Hewlett-Packard, and Spring-based HPE.

Fervo reported a net loss of $70.5 million for the 2025 fiscal year in the S-1 filing and a loss of $41.1 million in 2024.

Tracxn.com estimates that Fervo has raised $1.12 billion over 12 funding rounds. The company was founded in 2017 by Latimer and CTO Jack Norbeck.

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