Close Menu
Invest Intellect
    Facebook X (Twitter) Instagram
    Invest Intellect
    Facebook X (Twitter) Instagram Pinterest
    • Home
    • Commodities
    • Cryptocurrency
    • Fintech
    • Investments
    • Precious Metal
    • Property
    • Stock Market
    Invest Intellect
    Home»Commodities»The Department of Energy rejected a CenterPoint application for infrastructure funding
    Commodities

    The Department of Energy rejected a CenterPoint application for infrastructure funding

    July 16, 20244 Mins Read


    Utility company CenterPoint has been under scrutiny in Houston for the past week as customers remain without power after Hurricane Beryl hit the Texas coast last Monday.

    But new reporting from E&E News by Politico reveals that the Biden administration rejected a request from CenterPoint last year for $100 million to strengthen its electric poles and wires against the type of hurricane winds and flooding that Beryl brought.

    Thomas Frank, who oversees E&E News’ climate finance team, said CenterPoint’s application would have had to be extremely detailed. 

    “To get the kind of money that you’re talking about, $100 million from the Department of Energy, you have to submit a pretty detailed application, and I’m sure that exists somewhere,” he said.

    “It’s a competitive grant across the nation. And the applications at the DOE, they go over them very, very closely to make sure that everything is feasible, that it’s something that the DOE wants to promote among utilities around the country.”

    » RELATED: CenterPoint ‘rapidly losing faith and trust’ with communications decisions after Hurricane Beryl, PR expert says

    Experts in Houston expressed surprise that CenterPoint’s application was rejected, given the number of people and key industries located in the city — and the city’s vulnerability to hurricanes. 

    “I have asked the Department of Energy here in Washington to explain that very question, and I have gotten no response,” Frank said. “Any federal department or agency gets applications for way more money than they have to spend, so they’ve got to make choices.

    “I understand [University of Houston energy economist Ed Hirs’] point that you would think that a project in the Houston area would go to the top of the line if you’re looking at grid resilience, given the exposure to hurricanes and the type of businesses and the concentration of people that live in the area.”

    CenterPoint did note, in a document the company submitted to the Public Utility Commission in April, that it had submitted a new application for grant funds after incorporating DOE feedback. 

    “So you can try to interpret and say that there were some shortcomings in the original application,” Frank said. “The Department of Energy explained what was wrong or what needed to be improved, and CenterPoint took that information, made some improvements in this application, and now is in a much better position to actually get funding in the second round.”

    Texas is not a state known for coming down hard on business, but CenterPoint is in the crosshairs right now with a governor, lieutenant governor, utility regulators and down to the public at large for its Beryl response.

    Despite the public pressure, Frank clarified that CenterPoint was not the one pushing out this story to try and shift blame to the Biden administration. 

    “The way I got this story is searching for records online, and I found that CenterPoint had submitted an application — really a plan of infrastructure improvements —  to the PUC in April,” Frank said.

    “This is a 100-page document that goes into all sorts of detail, and the part about having applied for the Department of Energy grant is just a page or two. So CenterPoint in no way has been pushing this out. Whether it is a defense is a whole other thing.”

    » RELATED: President Biden, Texas officials spar over Hurricane Beryl response

    Frank said it is also unclear whether CenterPoint would have had time to make improvements before Beryl, even if the grant funding had been awarded. 

    “The process of grants moves slowly. So even if CenterPoint had been approved — and this would have been back in December or November — would CenterPoint have actually gotten enough money or gotten any money by two weeks ago to do anything? And even if it had gotten money to do things, would prevention of power outages during a hurricane been their top priority?” Frank said.

    “All of those are unknown. I will opine that it’s probably unlikely that if they had even been approved, that CenterPoint would have started doing the things to mitigate some of what happens after Beryl or during Beryl.”



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Le projet d’usine de GNL de Marinvest Energy serait-il cohérent avec les cibles climatiques du gouvernement du Québec?

    Commodities

    les géants français du metal en tournée dans toute la France… et des places encore disponibles !

    Commodities

    VAALCO mise sur Baobab, malgré sa production marginale

    Commodities

    Haiti – Agriculture : Colombia and Haiti progress in their agricultural cooperation

    Commodities

    le premier parc éolien en Nord-Vienne inauguré

    Commodities

    Stumping Bob Brackett on Commodities

    Commodities
    Leave A Reply Cancel Reply

    Top Picks
    Cryptocurrency

    Ripple’s X-Border Business May Be Collateral Damage in SEC Suit

    Commodities

    À Tartas, le projet ReSTart pour produire du kérosène durable se précise

    Stock Market

    Stock Market Live Updates August 14, 2024: Sensex, Nifty flat at open

    Editors Picks

    RDB Real Estate Constructions Limited annonce la démission de Kusum Devi Dugar en tant qu’administrateur non exécutif -Le 14 février 2025 à 13:37

    February 14, 2025

    RICH Miner launches cloud mining application to allow global users to enjoy stable returns from cryptocurrency

    July 8, 2025

    Hochelaga-Maisonneuve | Un homme attaqué avec une barre de métal

    June 6, 2025

    réduction de la position en cuivre, achat d’un tracker du pétrole

    June 15, 2025
    What's Hot

    Data Trends and the Power of Fintech: Alexis Asks

    August 20, 2024

    55-Year-Old Dividend Investor Earning $25,000 a Month Shares 7 Stock Picks, Calls Yield Chasing a ‘Terrible’ Mistake for Young Investors

    January 28, 2025

    LondonMetric Property Plc (LSE : LMP) a finalisé l’acquisition de Highcroft Investments Plc (CISX

    May 21, 2025
    Our Picks

    Experts reveal the best Dubai property bargains, with hidden gems starting at just £300k

    April 1, 2025

    400 millions $ au Nigeria pour la « plus grande usine de terres rares » d’Afrique, mais…

    June 22, 2025

    Where are Precious Metals Heading in Q3 and Beyond?

    July 11, 2024
    Weekly Top

    Le projet d’usine de GNL de Marinvest Energy serait-il cohérent avec les cibles climatiques du gouvernement du Québec?

    July 9, 2025

    Why China’s jewellery giants are selling less amid a precious metal boom 

    July 9, 2025

    SBP plans pilot for digital currency – Newspaper

    July 9, 2025
    Editor's Pick

    Hawk Tuah girl’s Twitter account has been ‘suspended’ following crypto scandal – Social Media

    March 31, 2025

    Sumou Real Estate remporte le contrat pour le développement de villas résidentielles dans le cadre du projet Makkah Gate

    April 20, 2025

    Where You Can Spend Crypto in Westchester 

    August 23, 2024
    © 2025 Invest Intellect
    • Contact us
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.