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Did a relationship that began a decade ago between a chief executive of a Fortune 500 company and a recent college graduate lead to a controversial $818 million deal that Houston-area residents could be paying off for years? That’s a question elected officials and energy regulators may grapple with as new revelations arise about the contract that Lieutenant Governor Dan Patrick recently described as “potential fraud.”The deal under scrutiny was struck in 2021 between CenterPoint, the electric utility to which state officials granted a monopoly to serve Greater Houston, and Life Cycle Power, a small start-up based in the northwest Houston suburb of Jersey Village. CenterPoint told regulators it needed to lease twenty tractor-trailer–mounted mobile power generators from Life Cycle to help keep the lights…
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