July 30 (Reuters) - Electric and gas utility CenterPoint
Energy ( CNP ) said on Tuesday it expects total costs to restore
facilities damaged by Hurricane Beryl to be in the range of $1.2
billion to $1.3 billion.
Earlier this month, Hurricane Beryl made landfall near the
coastal town of Matagorda, Texas, causing significant damage to
CenterPoint electric subsidiary's delivery system.
Nearly 2.3 million of CenterPoint's customers lost power
after Hurricane Beryl knocked down trees and electricity
infrastructure with its 80 mph winds.
The company expects to incur additional charges in the range
of $425 million to $475 million related to storm events that
occurred in May, where about 922,000 customers lost power.
The largest Texas power provider serves about 2.9 million
electric customers in the greater Houston area and southwestern
Indiana.
Restaurants in and around Houston have sued CenterPoint
Energy ( CNP ), seeking more than $100 million in damages, alleging
incompetence and negligence in the utility's efforts to restore
power quickly following Hurricane Beryl.
CenterPoint's net income available to common shareholders
rose to $228 million, or 36 cents per share, in the
second-quarter, from $106 million, or 17 cents per share, a year
earlier, helped by increased demand for electricity during the
peak summer months.
(Reporting by Vallari Srivastava in Bengaluru; Editing by
Shinjini Ganguli)