LITTLE ROCK, AR - CenterPoint Energy and the Arkansas Public Service Commission say they've reached a settlement that will increase the company's rate revenues by $20 million per year.
The company and the Public Service Commission say the new rates will go into effect at the beginning of November. The agreement still needs formal PSC approval.
Under the settlement, the average residential customer's bill will increase $3.24, or less than five percent.
CenterPoint vice president Walter Bryant says the settlement will save ratepayers money, because time and money won't be spent in the courtroom litigating the rate case.
CenterPoint serves about 5 million customers in Arkansas, Louisiana, Minnesota, Mississippi, Oklahoma and Texas.