Texas High Court Won't Overturn $2M CenterPoint Bonus

Law360, New York (January 17, 2014, 3:05 PM EST) -- The Texas Supreme Court declined Friday to weigh in on a lower appeals court's decision that 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.

In August, 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...
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