CenterPoint Energy 2004 Annual Report Download - page 13

adjustments to rates without filing expensive and time-
consuming rate cases.
In Minnesota, our request for a $22 million rate increase and
new rate design to improve margin stability is currently
under review by regulators. Interim rates of $17 million went
into effect on Oct. 1, 2004, for all customers, subject to
refund. We have reached a settlement with the Minnesota
Department of Commerce for an annualized increase of
approximately $9 million, subject to approval by the
Minnesota Public Utilities Commission (MPUC). A decision
by the MPUC is expected in the second quarter of 2005, and
we expect to implement new rates by the end of the summer.
In April 2005, we received approval from the Texas
Railroad Commission for a $2 million base rate increase
for unincorporated areas in Texas. In November of 2004,
we filed a request with the Arkansas Public Service
Commission for about $34 million in increases. We expect
a decision to be made on this request in the second
half of 2005.
Get it Right – improving our operating efficiency
A key element of our strategy to “Get it Right” is to leverage
our company’s size and skills to continually improve
our operating performance.
CenterPoint Energy’s electric transmission and distribution
organization is in the third year of its ongoing program to
improve performance and achieve top-quartile status in
service reliability, cost efficiency and customer satisfaction,
while at the same time, lowering capital spending. They
have had success in improving their operating income
and reducing capital spending, and they are working to
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Jason Hobbs, Lineman at the Fort Bend Service Center
near Houston, stands ready to serve customers.
Robert Newberry, Project Manager,
Corporate Communications, sizes
up a storage tank at the Sligo Plant
in Haughton, La.