The price for power? Up to $500 million

The job’s still not done but CenterPoint Energy already has a rough estimate of the bill for restoring power to millions of Houstonians.
In a filing with the Securities Exchange Commission CenterPoint said “the total cost for that restoration is currently estimated to be in the range of $350 million to $500 million, but that estimate is preliminary at this time …”
CenterPoint CEO David McClanahan said in a press conference this afternoon that will most likely translate to a per customer monthly fee increase of between $1 and $2.
This would cover the costs for the extra manpower (i.e. the 8,000 outside workers brought in to shore up CenterPoint’s existing crews) and supplies like replacement poles, lines and transformers.
As with just about every utility, be it a municipally owned one like Austin Energy or one run by a publicly traded corporation like CenterPoint, those costs will likely be passed on to customers. CenterPoint has to have those costs approved by the Public Utility Commission before they will show up on bills, however, a process that will likely take many months.
One might think a company would have insurance for such property, but according to the filing: ” Consistent with industry practice, [CenterPoint’s] poles, towers, wires, street lights and the pole mounted equipment that comprise the transmission and distribution facilities are not covered by property insurance …”
–Tom Fowler