Texas Court Reverses PUC's Cut To CenterPoint Bonus

Law360, Houston (August 16, 2013, 9:00 PM EDT) -- A Texas appeals court said Friday the state’s Public Utilities Commission improperly cut $2 million from a performance bonus owed to a unit of CenterPoint Energy Inc. after it spent $24.3 million implementing successful energy efficiency programs.

The Third District Court of Appeals said that in calculating the payment owed to CenterPoint Energy Houston Electric LLC under an agency rule incentivizing energy efficiency, the PUC incorrectly excluded $10 million the utility agreed to invest in energy savings projects under a separate settlement agreement, thereby cutting its...
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