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<br />REQUEST FOR CITY COUNCIL AGENDA ITEM <br /> <br />Agenda Date Requested: July 26, 2010 <br /> <br />Appropriation <br /> <br />Requested By: Ron Bottoms <br /> <br />Source of Funds: <br /> <br />Department: Adminstration <br /> <br />Acc't Number: <br /> <br />Rep0l1: _Resolution: _Ordinance: _X_ <br /> <br />Amount Budgeted: <br /> <br />Exhibits: <br /> <br />Notice of CenterPoint rate increase <br /> <br />Amount Requested: <br /> <br />Exhibits: <br /> <br />Rate Suspension Ordinance <br /> <br />Bud!!eted Item: <br /> <br />YES <br /> <br />NO <br /> <br />Exhibits: <br /> <br />SUMMARY & RECOMMENDATION <br /> <br />Attached is CenterPoint Energy's notice of intent to change electric rates effective August 6, 2010. <br />No action on the palt of Council will allow the rates to go into effect. However, if Council chooses <br />attached is an ordinance suspending the rate increase for ninety (90) days. <br /> <br />CenterPoint's rate adjustment would increase residential electric rates by approximately $5.50 per <br />month. CenterPoint seeks electric rate increases totaling $94 million per year. The proposed rate <br />change also calls for annual rate adjustments, which, for all intents and purposes, voids the City's <br />original jurisdiction oversight. <br /> <br />I met with representatives of the City of Houston, along with their legal counsel, who are <br />encouraging the City of La POIte to join them in challenging this rate increase. The City of Houston <br />has agreed to bear all the costs of the proceedings. <br /> <br />Action Required bv Council: <br /> <br /> <br />roving an ordinance suspending CenterPoint Energy's rate increase for ninety (90) days. <br /> <br />:zd?~ <br /> <br />Hate <br />