CenterPoint Plans to Spend $65 Billion Over 10 Years

Photo Courtesy CenterPoint Energy

(Bloomberg) —

CenterPoint Energy Inc. plans to invest a record $65 billion through 2035 based on an expectation of significant growth in electric demand, especially in Texas.

The company forecasts peak electric load demand for its Houston utility to increase by nearly 50% by 2031, with the figure also poised to double to nearly 42 gigawatts by the middle of the next decade.

Texas is seeing a big burst of electric demand, driven by new data centers, crypto-mining operations and factories. Peak power demand is expected to surge in the next five years. It may even double.

In a statement Monday, CenterPoint said it’s targeting the mid-to-high end of 7% to 9% growth through 2028 and 7% to 9% thereafter, through 2035.

Read More: PG&E to Invest $73 Billion in Capital Spending Through 2030

(Updates with Texas power demand in the 3rd paragraph)

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