Entergy Texas seeks $577 mln for 2008 storm costs

HOUSTON, April 22 (Reuters) - Entergy Corp's (ETR.N) Texas utility will seek recovery of $577.5 million in costs to restore power to its southeast Texas customers following two hurricanes in 2008, according to a regulatory filing.

Entergy Texas filed a request with the Texas Public Utility Commission to recover $577.5 million in costs related to Hurricane Gustav and Hurricane Ike, storms which struck the Gulf Coast in September 2008.

Hurricane Ike, which struck the Texas coast, "severely damaged" distribution and transmission assets and knocking out power to 99 percent of Entergy Texas' customers at the height of the storm.

The filing comes after Texas Gov. Rick Perry last week signed legislation to allow electric utilities to accelerate cost-recovery process by selling bonds.

Houston-based CenterPoint Energy Inc (CNP.N) has filed to recover $677.8 million in Ike costs.

Entergy and CenterPoint are expected to sell such state-backed bonds for a majority of the restoration costs which are subject to PUC review.

The bonds, which are backed by payments from customers' monthly bills, typically carry a lower interest rate than the rate the utilities can charge under state regulation. Utilities are able to pass along those savings to customers. (Reporting by Eileen O'Grady; Editing by Christian Wiessner)