Approval of Resolution No. 2023-040 Suspending the May 1, 2023, effective Date of the proposal by Centerpoint Energy to implement Interim Grip Rate Adjustments to residential Gas users in Texas City due to the Gas Utility Investments incurred by CenterPoint Energy in 2022.

CenterPoint Energy made filings with the Railroad Commission of Texas on March 2, 2023, proposing to implement interim rate adjustments pursuant to Texas Utilities Code 104.301 to seek recovery on invested capital on all customers served by CenterPoint, effective May, 1, 2023.  These rates will increase residential customers rates by an estimated $2.01 per month.  This will increase the current residential customer charge from $19.94 to $21.95 per month.  You may recall the increase for the previous year was approximately $1.36 per month for residential customers.  

Under the GRIP statue, cities may not challenge the Company's request.  The only action the City can take at this time is to suspend the effective date of the rate increase by forty-five (45) days to the rate customers permitting adequate time to review the proposed increases.  Approval of the attached Resolution will suspend the effective date of May 1, 2023 of the new rates for a period of 45 days for all residential customers.

Staff recommends approval of the proposed Resolution suspending the Interim Grip Rates for the maximum number of days allowed by law (45 days).