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

    Families set for ‘significant cut’ to energy bills from April – here’s everything you need to know

    Commodities

    UK households to get cheaper energy bills amid shake-up

    Commodities

    At the Paris Agricultural Show, Macron visits in relative calm

    Commodities

    ‘It’s a ticking timebomb’: food producers sound alarm on rise in energy charges | Food & drink industry

    Commodities

    High energy prices threaten UK’s status as manufacturing power, business groups say | Energy industry

    Commodities

    ‘Eye-watering numbers’: food producers sound alarm on rise in energy charges | Food & drink industry

    Commodities
    Leave A Reply Cancel Reply

    Top Picks
    Commodities

    Why a diversified allocation to real assets belongs in every portfolio

    Investments

    Et si la Chine s’attaquait aux T-Bonds qu’elle détient?

    Commodities

    SLB Revenue Hurt by Falling Commodity Prices

    Editors Picks

    Prediction: This Ultimate Cryptocurrency’s Price Will 10X in 10 Years if This Happens

    January 31, 2026

    Investors flock to new fintech for bank stablecoins

    September 22, 2025

    Fintech Meetup Reveals Joint Keynote from Global Financial Leaders Jessica Rusu and Kyle Hauptman

    February 4, 2026

    Digital adviser ‘Aida’ passes CII diploma in financial advice

    September 24, 2025
    What's Hot

    Did homebuyers whose property investments doubled in the last two years just get lucky?

    May 14, 2025

    Volatility in the stock market leads to soaring gold prices

    May 6, 2025

    Wolfden Highlights Potential Precious Metal Upside at Canoe Landing

    February 17, 2026
    Our Picks

    How Sorin Investments Built An INR 1,350 Cr Early Stage Fund

    May 8, 2025

    Free £200 gadget could help you save £1,000 on energy bills

    November 12, 2025

    Revealed: Mystery buyer of Grand Designs ‘saddest ever house’ for £5M is a London taxi driver turned property developer… but the cursed mansion has one more tragic twist

    September 6, 2025
    Weekly Top

    How Fed Rate Changes Move Global Markets

    February 22, 2026

    Stock Market Watch This Week: Trump’s 15% Global Tariffs, GDP Numbers To Drive Trade | Markets News

    February 22, 2026

    ‘It’s a ticking timebomb’: food producers sound alarm on rise in energy charges | Food & drink industry

    February 21, 2026
    Editor's Pick

    NAS Investment Solutions Unveils New Investment Opportunity with Acquisition of North Houston Multifamily Townhome Property

    August 13, 2024

    Digital Commodities Capital Corp. publie ses résultats annuels pour l’exercice clos le 28 février 2025

    June 30, 2025

    Alex Eala reacts to Boulter’s shock Hong Kong retirement as she seals big rankings boost

    October 28, 2025
    © 2026 Invest Intellect
    • Contact us
    • Privacy Policy
    • Terms and Conditions

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