CenterPoint CEO Scrutinized After Hurricane Beryl

CenterPoint Energy CEO Jason Wells has faced intense scrutiny from Texas lawmakers over the company's handling of Hurricane Beryl, which caused extensive power outages and significant infrastructure damage. Lawmakers criticized CenterPoint for prioritizing profits over people and failing to adequately prepare and respond to the storm. Following the storm, CenterPoint announced a $2 billion resiliency plan aimed at improving infrastructure and emergency response, including stronger power poles and better communication systems. Governor Greg Abbott and other officials demanded detailed plans for improvements, with potential sanctions if CenterPoint fails to comply. Despite the challenges, CenterPoint reported better-than-expected Q2 earnings and plans to seek approval for rate increases to cover recovery costs. The legislative review may lead to broader regulatory changes to ensure better preparedness for future storms.