4.9 percent increase OK’d for CenterPoint

MINNEAPOLIS (AP) — More than 800,000 natural gas users in Minnesota will pay more after CenterPoint Energy got permission for a temporary 4.9 percent rate increase.

State regulators approved the increase this week for CenterPoint, which is pushing to rebuild its aging pipeline network.

The Star Tribune of Minneapolis reports (http://bit.ly/19LnDQr ) that CenterPoint plasn to double investment in its distribution system over the next 15 years.

Houston-based CenterPoint told the Star Tribune that the company needs more rate hikes than in the past. The company has many buried pipelines built from the 1940s through the 1960s.

CenterPoint last sought higher Minnesota rates in 2008. It has a request before the Public Utilities Commission for a slightly higher permanent hike.

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Information from: Star Tribune, http://www.startribune.com

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