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HomeMy WebLinkAbout03-28-18 Annual Franchise Payment Calculation - t C CenterPoint. CenterPoint Energy 18018 Huffmeister Road Energy Cypress,TX 77429-6404 March 28, 2018 Mayor Louis Rigby City of La Porte P.O. Box 1115 La Porte, TX 77571 Re: Annual Franchise Payment Calculation Dear Mayor Rigby, Pursuant to Section 11 of the City of La Porte, Texas Ordinance No. 2006-4, the attached City of La Porte Annual Franchise Payment Calculation is being submitted for your review. If CenterPoint Energy Houston Electric, LLC does not receive an objection from you by May 31, 2018, CenterPoint Energy Houston shall implement the annual franchise fee payment on July 1, 2018. Should you have any questions, please call me at 281-425-7334. Sincerely, Carlton Porter Service Area Manager Baytown/Humble Received on the0 ofC1h _Z , 2018 By: Title: ed,v(---- City of La Porte Annual Franchise Payment Calculation Effective July 1,2018 Line No. Description Amount Franchise Ordinance 1 Annual Franchise Fee: 2 Base Amount $ 1,265,908.39 Per Section 11 3 $ - 4 Annual Franchise Fee(line 2+line 3) $ 1,265,908.39 5 Annual Adjustment Factor: Per Section 11 6 kWh delivered within corporate limits of City in the calendar year 2017 658,444,475 Includes street lights 7 kWh delivered within corporate limits of City in base year 2005 405,673,951 Base Year fixed(includes street lights) 8 Annual Adjustment Factor(line 6/line 7) 1.62 9 Adjusted Annual Franchise Fee(line 8 x line 4) $ 2,054,680.57 Determination of Annual Franchise Fee Payment: 10 Is line 9 higher than line 4? If yes,insert amount from line 9. If no insert amount from line 4. $ 2,054,680.57 Per Section 11 11 Less: Municipal Account Franchise Credits applicable to City in the calendar year 2017 36,049.74 Per Section 11 12 Total Annual Franchise Fee Payment(line 10-line 11) $ 2,018,630.83 13 Monthly Payment(line 12/12 months) $ 168,219.24 Due 1st day of each month beg.July 1st Based on 2017 Monthly Payments: Monthly Payment Franchise Credits July 1 $ 168,219.24 $ 3,004.15 $ 171,223.38 August 1 168,219.24 3,004.15 171,223.38 September 1 168,219.24 3,004.15 171,223.38 October 1 168,219.24 3,004.15 171,223.38 November 1 168,219.24 3,004.15 171,223.38 December 1 168,219.24 3,004.15 171,223.38 January 1 168,219.24 3,004.15 171,223.38 February 1 168,219.24 3,004.15 171,223.38 March 1 168,219.24 3,004.15 171,223.38 April 1 168,219.24 3,004.15 171,223.38 May 1 168,219.24 3,004.15 171,223.38 June 1 168,219.24 3,004.15 171,223.38 Total $ 2,018,630.83 $ 36,049.74 $ 2,054,680.57