CenterPoint Withdraws Rate Hike Request After Meeting with Gov. Abbott

The energy company's decision follows bipartisan pressure and a Texas Senate hearing on hurricane response failures.

CenterPoint Energy retracts its request for customers to cover costs and profits after a meeting with Texas Governor Greg Abbott.
The decision comes after a Senate hearing where both parties criticized the company's handling of Hurricane Beryl's aftermath.
CenterPoint faced backlash for inadequate storm preparedness and misuse of $800 million on non-mobile generators.
Lt. Gov. Dan Patrick urged the Public Utility Commission to ensure CenterPoint covers the costs of unused generators.
Thousands of Houstonians have called for CenterPoint CEO Jason Wells to resign, citing negligence and profit prioritization.