St. Paul, Minn. – On Thursday, the Minnesota Public Utilities Commission (Commission) began review of CenterPoint Energy’s gas rate increase request and established interim rates for CenterPoint Energy customers.
On November 1, 2023, CenterPoint filed a multi-year rate increase request. On Thursday, the Commission suspended the rates while the Department of Commerce, the Attorney General’s Office, and interested parties investigate whether the rate request is reasonable. While the investigation is ongoing, CenterPoint is allowed by Minnesota law to collect interim rates. Only in the most extraordinary or unusual situation, known as exigent circumstances, can the Commission modify an interim rate.
The annualized $68.7 million interim rate increase for CenterPoint customers is approximately a 5.3% increase. Interim rates will start on January 1, 2024, and are in effect until the final rates are established by the Commission. If the final rates are lower than the interim rates, customers will receive refunds. Gas commodity costs are forecasted to be lower than the previous two years, those lower costs will help lessen interim increase impacts.
As part of the Commission’s decision, CenterPoint is required to do additional rate case outreach and engagement to ensure customers understand how to learn more about the issues and how to provide comment. “Fair and reasonable rates are something that the Commission takes seriously,” said Commissioner Joseph Sullivan. “As this rate case moves forward, it is important we hear from those that are most impacted.”
The full rate case review and investigation process will take up to 18 months before coming back to the Commission for final decisions. Additional information on the Commission’s rate review process is on our website.
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The Minnesota Public Utilities Commission regulates three cornerstone service industries in Minnesota's economy: electricity, natural gas and telephone. The Commission’s mission is to create and maintain a regulatory environment that ensures safe, adequate and efficient utility services at fair, reasonable rates consistent with State telecommunications and energy policies. It does so by providing independent, consistent, professional and comprehensive oversight and regulation of utility service providers. Learn more at mn.gov/puc.
