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Yahoo
16-06-2025
- Business
- Yahoo
CenterPoint Energy reaches settlement agreement on landmark Systemwide Resiliency Plan to strengthen Houston electric system against extreme weather threats and future hazards
Largest single resiliency investment in CenterPoint history will build on Greater Houston Resiliency Initiative and help address impacts of wide range of extreme weather and other threats 100% of lines serving the most customers will have automation devices capable of self-healing 130,000 stronger, more storm-resilient poles and braces to be installed or replaced This historic investment will reduce storm-related outages by nearly 1 billion minutes Spreading investments over four years vs. three years will minimize bill impacts and help keep customer bills more affordable HOUSTON, June 13, 2025 /PRNewswire/ -- As part of its commitment to build and operate the most resilient coastal grid in the country, CenterPoint Energy (CenterPoint) announced yesterday that it has reached a settlement agreement with parties to its 2026-2028 Systemwide Resiliency Plan (SRP). Subject to Public Utility Commission of Texas (PUCT) review and approval, the SRP represents the largest single grid resiliency investment in CenterPoint's history and is expected to reduce the impact of storm-related outages by nearly 1 billion (more than 913 million minutes) for its 2.8 million customers by 2029. CenterPoint's 2026-2028 SRP will build on the progress made during the first two phases of the company's Greater Houston Resiliency Initiative (GHRI) and is designed to further address the impacts of a wide range of extreme weather threats, including more powerful storms, hurricanes, wind events like derechos, flooding, extreme temperatures, tornadoes, wildfires and winter storms. "We are committed to continuing critical system resiliency work to help provide an electric system for the Greater Houston area that is safe, reliable, cost-effective and resilient when our customers need it most. Following constructive discussions with the Commission and intervening parties, this plan represents a landmark investment and suite of resiliency actions that will provide customers with clear benefits now and in the future," said Jason Wells, President and Chief Executive Officer of CenterPoint Energy. "Our plan is cost-effective and will build on the progress we've made to date through the Greater Houston Resiliency Initiative. Taken together, we believe that these resiliency actions will help create a future with fewer outages that impact smaller clusters of customers, coupled with faster restoration times for our Greater Houston communities. This is another major step on our strategic roadmap to building and operating the most resilient coastal grid in the nation," said Wells. Key improvements in CenterPoint's Systemwide Resiliency PlanThis settlement agreement reflects discussions with intervening parties following the filing of CenterPoint's enhanced SRP with the PUCT in January 2025. It includes a revised, agreed-upon investment of more than $3 billion in CenterPoint's electric distribution system. The agreement also includes the deferment of more than $240 million in SRP costs until the second half of 2029, which will help reduce the bill impact for customers by spreading costs over a four-year period instead of three years. Once approved, and while some cost recovery would be deferred into 2029, all SRP work will be completed in the proposed 2026-2028 timeframe. Separate from the 2026-2028 SRP which is focused on the electric distribution system, CenterPoint will continue its nearly $2 billion investments planned for the electric transmission system, including rebuilding or upgrading more than 2,200 structures to better withstand extreme weather. Customer bill impactsPending approval from the PUCT, CenterPoint's historic SRP investment in the electric distribution system would add approximately $1.40 per month for an average residential customer each year from 2026 through 2028, with a final $0.60 per month added in 2030 to help lessen bill impacts in previous years. The impacts of these investment in Greater Houston's electric infrastructure are reduced over the next three years, other key components of the average residential customer bill will go down during the same period including: Costs associated with the large temporary emergency generation units will start coming out of rates for Houston Electric customers this summer, and by 2027, bills will be reduced by an estimated $2 per month for the average customer. As a result of the recently settled, four-year Houston Electric rate case, CenterPoint will receive approximately $50 million less revenue annually which means a reduction in electric customer bills by about $1 a month for most customers from 2025 through 2028 while also continuing to deliver support for significant local economic growth and upgrades across Greater Houston area. Building the stronger, more resilient, self-healing electric system of the futureThe investments outlined in CenterPoint's SRP are designed to benefit customers across the entire 12-county service area, with a specific focus on customers in higher-risk areas. When complete, this array of resiliency actions, combined with CenterPoint's normal operations, will achieve the following: Automation Devices: 100% of lines serving the most customers will include automation devices capable of self-healing to reduce the impact of outages; Stronger Distribution Poles: 130,000 stronger, more storm-resilient poles (rated to 110 mph and 132 mph) will be either installed new or replaced or braced to withstand stronger storms; Vegetation Management: CenterPoint will deploy an industry-leading, three-year vegetation management cycle for transmission and distribution lines, with 100% of power lines cleared of hazardous vegetation every three years; Undergrounding: More than 50% of CenterPoint's system will be undergrounded to improve resiliency; and Modernized Cables: 20,150 spans of underground cables will be modernized to reduce the frequency and impact of outages. Addressing growing energy needs and weather challengesThe resiliency actions outlined by the SRP will also help meet the energy needs of the growing population across CenterPoint's Greater Houston service area. The number of customers is expected to continue growing by approximately 2 percent annually for the foreseeable future – the equivalent of adding a city the size of Waco, Texas, every year. As Greater Houston's population, economy and energy needs continue to grow, CenterPoint's SRP will help address the increasing risk that this fast-growing region faces from extreme weather. A Systemwide Resiliency Plan shaped by experts, stakeholders and customer feedbackThe SRP incorporates important feedback from customers, elected leaders, emergency management agencies and independent experts. In preparation for filing the SRP, CenterPoint conducted 30 community meetings and listening sessions and solicited feedback on the plan during the draft stages. As part of CenterPoint's commitment to long-term affordability, the SRP is designed to provide the greatest dollar value to customers now and in the future by prioritizing proven, cost-effective resiliency actions that will ultimately prove vital to reducing future storm-related costs for the communities CenterPoint serves. CenterPoint GHRI Phase One and Phase Two resiliency actions Since launching GHRI in response to Hurricane Beryl last summer, CenterPoint has made progress on the historic series of critical resiliency improvements across both Phase One and Phase Two. When combined, the company has completed the following actions: Installed or replaced more than 26,000 stronger, more storm-resilient poles built to withstand extreme winds; Undergrounded more than 400 miles of power lines to improve overall resiliency; Installed more than 5,150 more automated reliability devices and intelligent grid switching devices to reduce the impact of outages and improve restoration times; Cleared more than 6,000 miles of higher-risk vegetation near power lines to reduce storm-related outages; and Installed 100 weather monitoring stations to improve situational awareness and storm preparation. About CenterPoint Energy, Energy, Inc. (NYSE: CNP) is a multi-state electric and natural gas delivery company serving approximately 7 million metered customers across Indiana, Minnesota, Ohio, and Texas. The company is headquartered in Houston and is the only Texas-domiciled investor-owned utility. As of March 31, 2025, the company had approximately $44 billion in assets. With approximately 8,300 employees, CenterPoint Energy and its predecessor companies have been serving customers for more than 150 years. For more information, visit Forward-looking Statements This news release, as well as the website pages related to the GHRI, includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this news release, the words "anticipate," "believe," "continue," "could," "estimate," "expect," "forecast," "goal," "intend," "may," "objective," "plan," "potential," "predict," "projection," "should," "target," "will," "would" or other similar words are intended to identify forward-looking statements. These forward-looking statements, which include statements regarding the Systemwide Resiliency Plan and the Greater Houston Resiliency Initiative, including their respective benefits, are based upon assumptions of management which are believed to be reasonable at the time made and are subject to significant risks and uncertainties. Actual events and results may differ materially from those expressed or implied by these forward-looking statements. Any statements in this news release or the website pages related to the GHRI regarding future events that are not historical facts are forward-looking statements. Each forward-looking statement contained in this news release or the website pages related to the GHRI speaks only as of the date of this release. Important factors that could cause actual results to differ materially from those indicated by the provided forward-looking information include risks and uncertainties relating to: (1) business strategies and strategic initiatives, restructurings, joint ventures, acquisitions or dispositions of assets or businesses involving CenterPoint Energy or its industry; (2) CenterPoint Energy's ability to fund and invest planned capital, and the timely recovery of its investments; (3) financial market and general economic conditions; (4) the timing and impact of future regulatory, legislative and political actions or developments; and (5) other factors, risks and uncertainties discussed in CenterPoint Energy's Annual Report on Form 10-K for the fiscal year ended December 31, 2024 and CenterPoint's Quarterly Report on Form 10-Q for the quarters ended March 31, 2025 and other reports CenterPoint Energy or its subsidiaries may file from time to time with the Securities and Exchange Commission. For more information, contact: View original content to download multimedia: SOURCE CenterPoint Energy Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
14-06-2025
- Business
- Associated Press
CenterPoint Energy reaches settlement agreement on landmark Systemwide Resiliency Plan to strengthen Houston electric system against extreme weather threats and future hazards
HOUSTON, June 13, 2025 /PRNewswire/ -- As part of its commitment to build and operate the most resilient coastal grid in the country, CenterPoint Energy (CenterPoint) announced yesterday that it has reached a settlement agreement with parties to its 2026-2028 Systemwide Resiliency Plan (SRP). Subject to Public Utility Commission of Texas (PUCT) review and approval, the SRP represents the largest single grid resiliency investment in CenterPoint's history and is expected to reduce the impact of storm-related outages by nearly 1 billion (more than 913 million minutes) for its 2.8 million customers by 2029. CenterPoint's 2026-2028 SRP will build on the progress made during the first two phases of the company's Greater Houston Resiliency Initiative (GHRI) and is designed to further address the impacts of a wide range of extreme weather threats, including more powerful storms, hurricanes, wind events like derechos, flooding, extreme temperatures, tornadoes, wildfires and winter storms. 'We are committed to continuing critical system resiliency work to help provide an electric system for the Greater Houston area that is safe, reliable, cost-effective and resilient when our customers need it most. Following constructive discussions with the Commission and intervening parties, this plan represents a landmark investment and suite of resiliency actions that will provide customers with clear benefits now and in the future,' said Jason Wells, President and Chief Executive Officer of CenterPoint Energy. 'Our plan is cost-effective and will build on the progress we've made to date through the Greater Houston Resiliency Initiative. Taken together, we believe that these resiliency actions will help create a future with fewer outages that impact smaller clusters of customers, coupled with faster restoration times for our Greater Houston communities. This is another major step on our strategic roadmap to building and operating the most resilient coastal grid in the nation,' said Wells. Key improvements in CenterPoint's Systemwide Resiliency Plan This settlement agreement reflects discussions with intervening parties following the filing of CenterPoint's enhanced SRP with the PUCT in January 2025. It includes a revised, agreed-upon investment of more than $3 billion in CenterPoint's electric distribution system. The agreement also includes the deferment of more than $240 million in SRP costs until the second half of 2029, which will help reduce the bill impact for customers by spreading costs over a four-year period instead of three years. Once approved, and while some cost recovery would be deferred into 2029, all SRP work will be completed in the proposed 2026-2028 timeframe. Separate from the 2026-2028 SRP which is focused on the electric distribution system, CenterPoint will continue its nearly $2 billion investments planned for the electric transmission system, including rebuilding or upgrading more than 2,200 structures to better withstand extreme weather. Customer bill impacts Pending approval from the PUCT, CenterPoint's historic SRP investment in the electric distribution system would add approximately $1.40 per month for an average residential customer each year from 2026 through 2028, with a final $0.60 per month added in 2030 to help lessen bill impacts in previous years. The impacts of these investment in Greater Houston's electric infrastructure are reduced over the next three years, other key components of the average residential customer bill will go down during the same period including: Building the stronger, more resilient, self-healing electric system of the future The investments outlined in CenterPoint's SRP are designed to benefit customers across the entire 12-county service area, with a specific focus on customers in higher-risk areas. When complete, this array of resiliency actions, combined with CenterPoint's normal operations, will achieve the following: Addressing growing energy needs and weather challenges The resiliency actions outlined by the SRP will also help meet the energy needs of the growing population across CenterPoint's Greater Houston service area. The number of customers is expected to continue growing by approximately 2 percent annually for the foreseeable future – the equivalent of adding a city the size of Waco, Texas, every year. As Greater Houston's population, economy and energy needs continue to grow, CenterPoint's SRP will help address the increasing risk that this fast-growing region faces from extreme weather. A Systemwide Resiliency Plan shaped by experts, stakeholders and customer feedback The SRP incorporates important feedback from customers, elected leaders, emergency management agencies and independent experts. In preparation for filing the SRP, CenterPoint conducted 30 community meetings and listening sessions and solicited feedback on the plan during the draft stages. As part of CenterPoint's commitment to long-term affordability, the SRP is designed to provide the greatest dollar value to customers now and in the future by prioritizing proven, cost-effective resiliency actions that will ultimately prove vital to reducing future storm-related costs for the communities CenterPoint serves. CenterPoint GHRI Phase One and Phase Two resiliency actions Since launching GHRI in response to Hurricane Beryl last summer, CenterPoint has made progress on the historic series of critical resiliency improvements across both Phase One and Phase Two. When combined, the company has completed the following actions: About CenterPoint Energy, Inc. CenterPoint Energy, Inc. (NYSE: CNP) is a multi-state electric and natural gas delivery company serving approximately 7 million metered customers across Indiana, Minnesota, Ohio, and Texas. The company is headquartered in Houston and is the only Texas-domiciled investor-owned utility. As of March 31, 2025, the company had approximately $44 billion in assets. With approximately 8,300 employees, CenterPoint Energy and its predecessor companies have been serving customers for more than 150 years. For more information, visit Forward-looking Statements This news release, as well as the website pages related to the GHRI, includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this news release, the words 'anticipate,' 'believe,' 'continue,' 'could,' 'estimate,' 'expect,' 'forecast,' 'goal,' 'intend,' 'may,' 'objective,' 'plan,' 'potential,' 'predict,' 'projection,' 'should,' 'target,' 'will,' 'would' or other similar words are intended to identify forward-looking statements. These forward-looking statements, which include statements regarding the Systemwide Resiliency Plan and the Greater Houston Resiliency Initiative, including their respective benefits, are based upon assumptions of management which are believed to be reasonable at the time made and are subject to significant risks and uncertainties. Actual events and results may differ materially from those expressed or implied by these forward-looking statements. Any statements in this news release or the website pages related to the GHRI regarding future events that are not historical facts are forward-looking statements. Each forward-looking statement contained in this news release or the website pages related to the GHRI speaks only as of the date of this release. Important factors that could cause actual results to differ materially from those indicated by the provided forward-looking information include risks and uncertainties relating to: (1) business strategies and strategic initiatives, restructurings, joint ventures, acquisitions or dispositions of assets or businesses involving CenterPoint Energy or its industry; (2) CenterPoint Energy's ability to fund and invest planned capital, and the timely recovery of its investments; (3) financial market and general economic conditions; (4) the timing and impact of future regulatory, legislative and political actions or developments; and (5) other factors, risks and uncertainties discussed in CenterPoint Energy's Annual Report on Form 10-K for the fiscal year ended December 31, 2024 and CenterPoint's Quarterly Report on Form 10-Q for the quarters ended March 31, 2025 and other reports CenterPoint Energy or its subsidiaries may file from time to time with the Securities and Exchange Commission. For more information, contact: Communications [email protected] View original content to download multimedia: SOURCE CenterPoint Energy
Yahoo
14-06-2025
- Business
- Yahoo
CenterPoint Energy reaches settlement agreement on landmark Systemwide Resiliency Plan to strengthen Houston electric system against extreme weather threats and future hazards
Largest single resiliency investment in CenterPoint history will build on Greater Houston Resiliency Initiative and help address impacts of wide range of extreme weather and other threats 100% of lines serving the most customers will have automation devices capable of self-healing 130,000 stronger, more storm-resilient poles and braces to be installed or replaced This historic investment will reduce storm-related outages by nearly 1 billion minutes Spreading investments over four years vs. three years will minimize bill impacts and help keep customer bills more affordable HOUSTON, June 13, 2025 /PRNewswire/ -- As part of its commitment to build and operate the most resilient coastal grid in the country, CenterPoint Energy (CenterPoint) announced yesterday that it has reached a settlement agreement with parties to its 2026-2028 Systemwide Resiliency Plan (SRP). Subject to Public Utility Commission of Texas (PUCT) review and approval, the SRP represents the largest single grid resiliency investment in CenterPoint's history and is expected to reduce the impact of storm-related outages by nearly 1 billion (more than 913 million minutes) for its 2.8 million customers by 2029. CenterPoint's 2026-2028 SRP will build on the progress made during the first two phases of the company's Greater Houston Resiliency Initiative (GHRI) and is designed to further address the impacts of a wide range of extreme weather threats, including more powerful storms, hurricanes, wind events like derechos, flooding, extreme temperatures, tornadoes, wildfires and winter storms. "We are committed to continuing critical system resiliency work to help provide an electric system for the Greater Houston area that is safe, reliable, cost-effective and resilient when our customers need it most. Following constructive discussions with the Commission and intervening parties, this plan represents a landmark investment and suite of resiliency actions that will provide customers with clear benefits now and in the future," said Jason Wells, President and Chief Executive Officer of CenterPoint Energy. "Our plan is cost-effective and will build on the progress we've made to date through the Greater Houston Resiliency Initiative. Taken together, we believe that these resiliency actions will help create a future with fewer outages that impact smaller clusters of customers, coupled with faster restoration times for our Greater Houston communities. This is another major step on our strategic roadmap to building and operating the most resilient coastal grid in the nation," said Wells. Key improvements in CenterPoint's Systemwide Resiliency PlanThis settlement agreement reflects discussions with intervening parties following the filing of CenterPoint's enhanced SRP with the PUCT in January 2025. It includes a revised, agreed-upon investment of more than $3 billion in CenterPoint's electric distribution system. The agreement also includes the deferment of more than $240 million in SRP costs until the second half of 2029, which will help reduce the bill impact for customers by spreading costs over a four-year period instead of three years. Once approved, and while some cost recovery would be deferred into 2029, all SRP work will be completed in the proposed 2026-2028 timeframe. Separate from the 2026-2028 SRP which is focused on the electric distribution system, CenterPoint will continue its nearly $2 billion investments planned for the electric transmission system, including rebuilding or upgrading more than 2,200 structures to better withstand extreme weather. Customer bill impactsPending approval from the PUCT, CenterPoint's historic SRP investment in the electric distribution system would add approximately $1.40 per month for an average residential customer each year from 2026 through 2028, with a final $0.60 per month added in 2030 to help lessen bill impacts in previous years. The impacts of these investment in Greater Houston's electric infrastructure are reduced over the next three years, other key components of the average residential customer bill will go down during the same period including: Costs associated with the large temporary emergency generation units will start coming out of rates for Houston Electric customers this summer, and by 2027, bills will be reduced by an estimated $2 per month for the average customer. As a result of the recently settled, four-year Houston Electric rate case, CenterPoint will receive approximately $50 million less revenue annually which means a reduction in electric customer bills by about $1 a month for most customers from 2025 through 2028 while also continuing to deliver support for significant local economic growth and upgrades across Greater Houston area. Building the stronger, more resilient, self-healing electric system of the futureThe investments outlined in CenterPoint's SRP are designed to benefit customers across the entire 12-county service area, with a specific focus on customers in higher-risk areas. When complete, this array of resiliency actions, combined with CenterPoint's normal operations, will achieve the following: Automation Devices: 100% of lines serving the most customers will include automation devices capable of self-healing to reduce the impact of outages; Stronger Distribution Poles: 130,000 stronger, more storm-resilient poles (rated to 110 mph and 132 mph) will be either installed new or replaced or braced to withstand stronger storms; Vegetation Management: CenterPoint will deploy an industry-leading, three-year vegetation management cycle for transmission and distribution lines, with 100% of power lines cleared of hazardous vegetation every three years; Undergrounding: More than 50% of CenterPoint's system will be undergrounded to improve resiliency; and Modernized Cables: 20,150 spans of underground cables will be modernized to reduce the frequency and impact of outages. Addressing growing energy needs and weather challengesThe resiliency actions outlined by the SRP will also help meet the energy needs of the growing population across CenterPoint's Greater Houston service area. The number of customers is expected to continue growing by approximately 2 percent annually for the foreseeable future – the equivalent of adding a city the size of Waco, Texas, every year. As Greater Houston's population, economy and energy needs continue to grow, CenterPoint's SRP will help address the increasing risk that this fast-growing region faces from extreme weather. A Systemwide Resiliency Plan shaped by experts, stakeholders and customer feedbackThe SRP incorporates important feedback from customers, elected leaders, emergency management agencies and independent experts. In preparation for filing the SRP, CenterPoint conducted 30 community meetings and listening sessions and solicited feedback on the plan during the draft stages. As part of CenterPoint's commitment to long-term affordability, the SRP is designed to provide the greatest dollar value to customers now and in the future by prioritizing proven, cost-effective resiliency actions that will ultimately prove vital to reducing future storm-related costs for the communities CenterPoint serves. CenterPoint GHRI Phase One and Phase Two resiliency actions Since launching GHRI in response to Hurricane Beryl last summer, CenterPoint has made progress on the historic series of critical resiliency improvements across both Phase One and Phase Two. When combined, the company has completed the following actions: Installed or replaced more than 26,000 stronger, more storm-resilient poles built to withstand extreme winds; Undergrounded more than 400 miles of power lines to improve overall resiliency; Installed more than 5,150 more automated reliability devices and intelligent grid switching devices to reduce the impact of outages and improve restoration times; Cleared more than 6,000 miles of higher-risk vegetation near power lines to reduce storm-related outages; and Installed 100 weather monitoring stations to improve situational awareness and storm preparation. About CenterPoint Energy, Energy, Inc. (NYSE: CNP) is a multi-state electric and natural gas delivery company serving approximately 7 million metered customers across Indiana, Minnesota, Ohio, and Texas. The company is headquartered in Houston and is the only Texas-domiciled investor-owned utility. As of March 31, 2025, the company had approximately $44 billion in assets. With approximately 8,300 employees, CenterPoint Energy and its predecessor companies have been serving customers for more than 150 years. For more information, visit Forward-looking Statements This news release, as well as the website pages related to the GHRI, includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this news release, the words "anticipate," "believe," "continue," "could," "estimate," "expect," "forecast," "goal," "intend," "may," "objective," "plan," "potential," "predict," "projection," "should," "target," "will," "would" or other similar words are intended to identify forward-looking statements. These forward-looking statements, which include statements regarding the Systemwide Resiliency Plan and the Greater Houston Resiliency Initiative, including their respective benefits, are based upon assumptions of management which are believed to be reasonable at the time made and are subject to significant risks and uncertainties. Actual events and results may differ materially from those expressed or implied by these forward-looking statements. Any statements in this news release or the website pages related to the GHRI regarding future events that are not historical facts are forward-looking statements. Each forward-looking statement contained in this news release or the website pages related to the GHRI speaks only as of the date of this release. Important factors that could cause actual results to differ materially from those indicated by the provided forward-looking information include risks and uncertainties relating to: (1) business strategies and strategic initiatives, restructurings, joint ventures, acquisitions or dispositions of assets or businesses involving CenterPoint Energy or its industry; (2) CenterPoint Energy's ability to fund and invest planned capital, and the timely recovery of its investments; (3) financial market and general economic conditions; (4) the timing and impact of future regulatory, legislative and political actions or developments; and (5) other factors, risks and uncertainties discussed in CenterPoint Energy's Annual Report on Form 10-K for the fiscal year ended December 31, 2024 and CenterPoint's Quarterly Report on Form 10-Q for the quarters ended March 31, 2025 and other reports CenterPoint Energy or its subsidiaries may file from time to time with the Securities and Exchange Commission. For more information, contact: View original content to download multimedia: SOURCE CenterPoint Energy Sign in to access your portfolio
Business Wire
05-06-2025
- Business
- Business Wire
Constellation‘s Calpine Deal Clears Texas Regulatory Review
BALTIMORE--(BUSINESS WIRE)--Constellation (Nasdaq: CEG) today announced it has received regulatory approval from the Public Utility Commission of Texas (PUCT) for its previously announced acquisition of Calpine Corporation. The approval is progress in Constellation's plans to combine the nation's largest zero-emissions nuclear fleet with Calpine's premier portfolio of low-emission natural gas and geothermal assets, resulting in a coast-to-coast energy company capable of supporting growing demand for around-the-clock, sustainable power. 'With this approval from the Texas PUC, we're one step closer to creating the nation's premier platform for reliable, clean energy, powering families and businesses across America,' said Joe Dominguez, president and CEO of Constellation. 'This combination strengthens our ability to serve the growing needs of our customers and communities – especially in high-demand markets like Texas – while continuing to lead the nation's transition toward a more reliable, secure and clean energy future. Most important, we're combining two strong teams with a shared commitment to operational excellence, sustainability and supporting healthy, clean and growing communities.' With approval from the PUCT secured, the transaction now awaits clearance from the New York State Public Service Commission, the Federal Energy Regulatory Commission and the Department of Justice, along with other customary closing conditions. The transaction is expected to close in the fourth quarter of 2025. About Constellation Constellation Energy Corporation (Nasdaq: CEG), a Fortune 200 company headquartered in Baltimore, is the nation's largest producer of reliable, emissions-free energy and a leading energy supplier to businesses, homes and public sector customers nationwide, including three-fourths of Fortune 100 companies. With annual output that is nearly 90% carbon-free, our hydro, wind and solar facilities paired with the nation's largest nuclear fleet have the generating capacity to power the equivalent of 16 million homes, providing about 10% of the nation's clean energy. We are committed to investing in innovative technologies to drive the transition to a reliable, sustainable and secure energy future. Follow Constellation on LinkedIn and X.
Yahoo
04-06-2025
- Business
- Yahoo
Oncor hosts Sweetwater open house on transmission line issues
SWEETWATER, Texas () – Hundreds of residents from the Big Country gathered in Sweetwater on Tuesday for the second of three open house events hosted by Oncor. The purpose of these events is to address questions and assess community concerns regarding a proposed large-scale transmission line that is planned for construction across an eight-county area of the state. While multiple routes for the transmission line have been proposed, one option would pass directly through the heart of the Big Country. This project dates back to 2023, when Governor Abbott signed Texas House Bill 5066. The bill was designed to address the state's increasing energy demands, with a specific focus on expanding the reliable transmission of electricity to areas expected to require more power in the coming years. HB 5066 requires the Electric Reliability Council of Texas (ERCOT) to develop a 'Reliability Plan for regions experiencing rapid electrical load growth.' The bill specifically identifies the Permian Basin as one of the areas that needs such a reliability plan. ERCOT submitted the plan for the Permian Basin on July 25, 2024, and it was subsequently approved by the Public Utility Commission of Texas (PUCT). MAP: Large transmission line could cut through Big Country, public meetings taking place This project is larger than those previously seen in the state, and PUCT calls its approval a 'landmark decision'. 'It would see the 'Dinosaur' switch near Glen Rose connected to the 'Longshore' switch just west of Forsan through the use of 'extra high voltage' transmission lines. It would be the first of its kind to be built in the ERCOT region. According to Oncor, the 765 kilovolt (kV) transmission lines would run approximately 235-270 miles long, depending on the route chosen. In response to the question of why extra high-voltage lines are used over others, PUCT Chairman Thomas Gleeson stated in a news release on April 24, 'Extra high-voltage lines are more efficient and strengthen reliability. Because each line can carry more power, fewer lines are necessary to serve the needs of the Permian Basin Region, meaning less disruption to Texas landowners, natural habitats, and landscapes. Our priority now is ensuring utilities execute these projects quickly and at the lowest possible cost to Texas consumers.' Although the use of larger capacity power lines would take up less overall space, residents like Randyll and Gail Baker of Tuscola, whose home is located on property that a potential line would pass through, strongly oppose the construction of such large towers in their neighborhood. 'The people that moved out to Tuscola area wanted it for that good family living. To have that size of a tower come through a neighborhood, that's a concern,' said Gail. 'It would definitely be, in our view. I built our house facing the northeast for the view of Cedar Gap, and it's gonna go right through there,' Randyll added. The Bakers shared their concerns with many online. Some residents of Buffalo Gap have organized to oppose the route, which would affect the area's natural beauty. 'It's not gonna be a single little line. It'll be a row of towers and clearing out a lot of land. And Buffalo Gap's a beautiful area, so it would be a shame if they routed it through some of the prettier areas,' said Tuscola resident Mark Burkett. But concerns aren't purely visual. Both the Bakers and Burkett voice displeasure with the potential impact on their property value if the line is constructed along the Buffalo Gap route. 'Our big concerns are: how is that gonna impact the value of our property? I assume there will be compensation, but I also doubt the compensation would compensate you adequately for the loss of value,' Burkett said KTAB/KRBC discussed these concerns with Oncor Senior Media Relations Specialist Roxana Rubio, who says PUCT will consider them all. The purpose of the open house events is to gather community input to guide PUCT's decision. 'We really appreciate hearing from our customers… Any time that we build a new transmission, a new transmission line, no matter the voltage, we follow a very thorough process. Part of that process is to make sure that we're engaging with the local communities,' said Rubio. At the Sweetwater event, residents not only had their questions answered but also filled out forms to detail their concerns and express their feelings about the proposed routes. 'So that information will be submitted to the PUCT, and the potential routes will ultimately be submitted to the PUCT, who will have their own community input before determining which route we should begin construction on,' Rubio said. The next Oncor open house is scheduled for Wednesday, June 4. It will be held in Stephenville at the Cross Timbers Legacy Center, 830 S. Graham Avenue, from 5:00 PM to 7:00 PM. The event is open to the public. The Oncor website has more information on the 'Dinosaur-Longshore' project and downloadable forms for public participation and outreach. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
