Electric Reliability Council of Texas calls for conservation

Houston – May 14, 2022 – The Electric Reliability Council of Texas (ERCOT) has issued a call for conservation and is asking consumers and businesses to reduce their electricity use as much as possible through the weekend due to unseasonably hot weather driving record demand across Texas. CenterPoint Energy does not generate electricity itself, so any shortage of electric power capacity from the electric grid is not something that the company controls.

Consumers can help the ERCOT grid by conserving energy, especially during peak hours of 3 to 8 p.m. Please conserve electricity by:

  • Adjusting your air conditioner, especially when you use a programmable thermostat:
    • Set your thermostat 5° higher when you're gone more than 4 hours.
    • Between 3 and 8 p.m., aim for 1-2° warmer than your final evening temperature. Try to keep it at 78° or higher.
    • Use fans to stay 4-6 degrees cooler.
    • Set the AC to cool down after 8 p.m.
  • Running your washer, dryer, or dishwasher in the morning before you leave for work or wait until after 8 p.m.
  • Saving up to 10 watts of energy for every device you unplug.
    • All electrical devices use some power when they're turned off but still plugged in. They also generate heat.
    • Turn off and unplug appliances and cable boxes when not in use.
    • Unplug your phone charger and similar devices when charging is complete.
  • Using a timer to turn off lights and appliances when you're away.
  • Using a microwave, outdoor grill, or slow cooker. In the summer, your stove and oven heat up the house. This makes your air conditioner work harder.
  • Setting your pool pump to run early in the morning or overnight.

If conditions worsen, ERCOT may issue a directive to curtail power delivered to customers, which requires transmission and distribution utilities like CenterPoint Energy to implement controlled outages due to power generation shortage. Controlled outages are planned emergency measures designed to avoid potentially longer and more widespread power outages for customers. There are three levels of Energy Emergency Alerts (EEA), and controlled outages are only implemented as a last resort to maintain reliability of the electric system, and they are done so with the intent to rotate outages in the electric service territory based on system conditions.

Houston-area customers should prepare now and have a back-up plan in place, especially those who rely on electricity for life-sustaining equipment.

ERCOT is the independent system operator for the region and manages the flow of electric power to most of Texas and more than 26 million Texas customers. CenterPoint Energy is an investor-owned electric utility and a member of ERCOT. The company manages the transmission and distribution of electricity to its approximately 2.6 million customers across the greater Houston area and surrounding communities.

As needed, CenterPoint Energy will continue to keep customers updated through local media outlets and the company's customer communication channels, including Twitter (@CNPalerts), Facebook, Power Alert Service, Outage Tracker (Estimated Restoration Times will not be available for these types of emergencies) and the web.

2022-05-14T05:00:00Z
CenterPoint Energy seeks to lower customers’ electric bills

Evansville – May 10, 2022 - CenterPoint Energy, Inc.'s (NYSE: CNP) Indiana-based electric and natural gas business, Southern Indiana Gas and Electric Company (CenterPoint Energy Indiana South), has filed a request with the Indiana Utility Regulatory Commission (IURC) for securitization of assets of its A.B. Brown coal plant, which should result in a decrease to customers' electric bills by an estimated nearly $60 million versus traditional rate making.

Last year, legislation was passed in Indiana allowing for a securitization pilot to benefit CenterPoint Energy's customers. CenterPoint Energy advocated for the state law change to allow this pilot to demonstrate how the tool saves customers money over traditional rate making where costs typically are recovered at a much higher rate-of-return. As previously announced, CenterPoint Energy plans to retire the A.B. Brown coal plant in late 2023 as part of its long-term electric generation transition plan.

Securitization of these assets will allow for the removal of the remaining value of the coal plant from customer rates and effectively refinance them at a much lower interest rate. The remaining value will be financed, along with other qualified costs, through the issuance of low-cost bonds enabled by the legislation. If approved, customers should see a monthly bill reduction beginning in early 2023.  Future savings are expected, as deferred costs will be included within the securitization. Securitization is dependent on plans to retire the A.B. Brown plant.

"Keeping our customers' and other stakeholders' interests top-of-mind, we are deploying a cost-effective strategy to help reduce bill impacts as we continue on with our long-term electric generation transition plan," said Steve Greenley, Senior Vice President of Generation Development for CenterPoint Energy. "CenterPoint Energy's transition to a generation portfolio consisting of mostly renewable resources is expected to save customers an estimated $320 million over the next 20 years. If approved, the securitization of the A.B. Brown assets is expected to save nearly $60 million over the same general timeframe."

While CenterPoint Energy will be the first utility to utilize securitization in Indiana, this is an established practice that has saved utility customers millions of dollars in nearly 30 states. CenterPoint Energy plans to reinvest the proceeds from the securitization bonds into its generation transition plan and invest in renewable resources such as wind- and solar-powered generation and battery storage which will be backed up by planned natural gas generation resources to maintain reliability.

"Securitization allows us to reinvest in our state and provides a catalyst for the continued growth of renewable energy in Indiana," added Greenley. "The increasing use of renewable energy for CenterPoint Energy Indiana South's generation is also expected to attract new economic development in Indiana, especially from companies with environmental and sustainability goals."

For more information on CenterPoint Energy's long-term electric generation transition plan, visit www.centerpointenergy.com/smartenergyfuture.

CenterPoint Energy delivers electricity to approximately 150,000 customers in southwest Indiana in all or portions of Gibson, Dubois, Pike, Posey, Spencer, Vanderburgh and Warrick counties. Programs and services are operated under the brand CenterPoint Energy by Southern Indiana Gas and Electric Company d/b/a CenterPoint Energy Indiana South.

Forward Looking Statement:

This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this news release, the words "anticipate," "believe," "continue," "could," "estimate," "expect," "forecast," "goal," "intend," "may," "objective," "plan," "potential," "predict," "projection," "should," "target," "will" or other similar words are intended to identify forward-looking statements. These forward-looking statements are based upon assumptions of management which are believed to be reasonable at the time made and are subject to significant risks and uncertainties. Actual events and results may differ materially from those expressed or implied by these forward-looking statements. Any statements in this news release regarding future events, such as the timing and approval of the CenterPoint Energy's securitization request and the benefits therefrom, including anticipated reductions to customer bills and the success of securitization in Indiana, the timing of CenterPoint Energy's generation transition plan, including the anticipated retirement of the A.B. Brown facility, and the mix of renewable resources and expected financial benefits of such generation transition to customers, and the intended use of securitization proceeds, and any other statements that are not historical facts are forward-looking statements. Each forward-looking statement contained in this news release speaks only as of the date of this release. Important factors that could cause actual results to differ materially from those indicated by the provided forward-looking information include risks and uncertainties relating to: (1) the impact of disruption to the global supply chain; (2) financial market conditions; (3) general economic conditions; (4) the timing and impact of future regulatory and legislative decisions; (5) effects of competition; (6) weather variations; (7) changes in business plans; and (8) other factors, risks and uncertainties discussed in CenterPoint Energy's Annual Report on Form 10-K for the fiscal year ended December 31, 2021, CenterPoint Energy's Quarterly Report on Form 10-Q for the quarter ended March 31, 2022 and other reports CenterPoint Energy or its subsidiaries may file from time to time with the Securities and Exchange Commission.

 

About CenterPoint Energy
As the only investor-owned electric and gas utility based in Texas, CenterPoint Energy, Inc. (NYSE: CNP) is an energy delivery company with electric transmission and distribution, power generation and natural gas distribution operations that serve more than 7 million metered customers in Indiana, Louisiana, Minnesota, Mississippi, Ohio and Texas. As of March 31, 2022, the company owned approximately $35 billion in assets. With approximately 8,900 employees, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, visit CenterPointEnergy.com.

2022-05-10T05:00:00Z
CenterPoint Energy reports first quarter earnings results and reaffirms full year guidance

Houston – May 3, 2022 - CenterPoint Energy, Inc. (NYSE: CNP) or "CenterPoint" today reported income available to common shareholders of $518 million, or $0.82 per diluted share, for the first quarter of 2022 compared to $0.56 of diluted earnings per share for the first quarter of 2021. The earnings for the first quarter included strategic transaction-related income of 35 cents including the gains on ET common units, midstream-related earnings, impacts associated with the gas LDC sale, and associated costs of the early extinguishment of debt related to the transactions.

  • Reported Q1 2022 earnings of $0.82 per diluted share
  • Non-GAAP earnings per diluted share ("non-GAAP EPS") was $0.47 for Q1 2022
  • Non-GAAP EPS range for 2022 reaffirmed at $1.36 - $1.38. Reiterating industry-leading 8% non-GAAP EPS annual growth rate target for 2022 through 2024 and mid-to-high end of the 6-8% range thereafter through 2030
  • Made full exit from midstream; sold entire Energy Transfer("ET") position within four months of the merger between Enable and ET

On a non-GAAP basis, EPS for the first quarter was $0.47 which was reduced by approximately $0.03 as a result of the loss of earnings related to the Arkansas and Oklahoma gas LDC operations which were sold in January of 2022. Despite that, non-GAAP EPS for the first quarter of 2022 was still flat to the comparable non-GAAP EPS results for the first quarter of 2021.

"This quarter extended our track record of delivering on expectations again. We are on track to meet our $1.36-1.38 non-GAAP EPS guidance for the full year, including the $0.47 we reported for the first quarter of 2022. We are now among the pure-play utilities, having fully exited from midstream well before our year-end 2022 commitment, and with the sales of the ET common units at a 20% premium on an aggregated basis compared to the ET common unit price when the merger between ET and Enable was announced on February 12, 2021," said Dave Lesar, President and Chief Executive Officer of CenterPoint.

"We are in year two of our capital plan which is now increased to $19.3 billion over the next five years. This is an increase from what we discussed at year-end and is our second increase to our five-year plan since our Analyst Day in September 2021. In the first quarter of 2022, we invested approximately $1 billion in capital, including mobile generation leases, and are now tracking slightly ahead of the plan for the full year. We remain focused on delivering on our 10-year growth strategy of investing in our regulated utility system to serve our customers and are working with them to identify incremental needs such as growth and increased system safety and resiliency which may lead to further capital investments, while also remaining focused on keeping our bills affordable for our customers," continued Lesar.

Lesar added. "Looking ahead, we remain focused on our value proposition which is sustainable earnings growth for our shareholders; sustainable, resilient, and affordable services for our customers; and a sustainable positive impact on the environment for our communities."

Earnings Outlook

Given the merger between Enable and Energy Transfer and CenterPoint Energy's divestiture of its remaining midstream investments during 2022, CenterPoint Energy will be presenting a consolidated non-GAAP EPS guidance range for 2022, which is the comparable measure to non-GAAP Utility EPS reported in 2021.

In addition to presenting its financial results in accordance with GAAP, including presentation of income (loss) available to common shareholders and diluted earnings (loss) per share, CenterPoint Energy provides guidance based on non-GAAP income and non-GAAP diluted earnings per share. Generally, a non-GAAP financial measure is a numerical measure of a company's historical or future financial performance that excludes or includes amounts that are not normally excluded or included in the most directly comparable GAAP financial measure.

Management evaluates CenterPoint Energy's financial performance in part based on non-GAAP income and non-GAAP earnings per share. Management believes that presenting these non-GAAP financial measures enhances an investor's understanding of CenterPoint Energy's overall financial performance by providing them with an additional meaningful and relevant comparison of current and anticipated future results across periods. The adjustments made in these non-GAAP financial measures exclude items that Management believes do not most accurately reflect the company's fundamental business performance. These excluded items are reflected in the reconciliation tables of this news release, where applicable. CenterPoint Energy's non-GAAP income and non-GAAP diluted earnings per share measures should be considered as a supplement to, and not as a substitute for, or superior to, income available to common shareholders and diluted earnings per share, which respectively are the most directly comparable GAAP financial measures. These non-GAAP financial measures also may be different than non-GAAP financial measures used by other companies.

2021 non-GAAP Utility EPS guidance

"Utility EPS" included net income from the company's Electric and Natural Gas segments, as well as after-tax Corporate and Other operating income and an allocation of corporate overhead based upon Electric's and Natural Gas's relative earnings contribution. Corporate overhead consisted primarily of interest expense, preferred stock dividend requirements, and other items directly attributable to the parent along with the associated income taxes.

  • 2021 Utility EPS excluded:
    • Earnings or losses from the change in value of the CenterPoint Energy's 2.0% Zero-Premium Exchangeable Subordinated Notes due 2029 ("ZENS") and related securities
    • Earnings and losses associated with the ownership and disposal of midstream common and preferred units (including amounts reported in discontinued operations), net gain associated with the consummation of the merger between Enable and Energy Transfer, a corresponding amount of debt related to midstream common and preferred units, and an allocation of associated corporate overhead
    • Cost associated with the early extinguishment of debt
    • Impacts associated with Arkansas and Oklahoma gas LDC sales
    • Certain impacts associated with other mergers and divestitures

2022 non-GAAP EPS guidance range

Beginning in 2022, CenterPoint Energy no longer separates utility and midstream operations and will report on a consolidated non-GAAP EPS basis.

  • 2022 non-GAAP EPS guidance excludes:
    • Earnings or losses from the change in value of ZENS and related securities
    • Gain and impact, including related expenses, associated with Arkansas and Oklahoma gas LDC sales
    • Income and expense related to ownership and disposal of Energy Transfer common and Series G preferred units, and a corresponding amount of debt related to the units

In providing this guidance, CenterPoint Energy does not consider the items noted above and other potential impacts such as changes in accounting standards, impairments or other unusual items, which could have a material impact on GAAP reported results for the applicable guidance period. The 2022 non-GAAP EPS guidance range also considers assumptions for certain significant variables that may impact earnings, such as customer growth and usage including normal weather, throughput, recovery of capital invested, effective tax rates, financing activities and related interest rates, and regulatory and judicial proceedings. To the extent actual results deviate from these assumptions, the 2022 non-GAAP EPS guidance range may not be met or the projected annual non-GAAP EPS growth rate may change. CenterPoint Energy is unable to present a quantitative reconciliation of forward-looking non-GAAP diluted earnings per share because changes in the value of ZENS and related securities, future impairments, and other unusual items are not estimable and are difficult to predict due to various factors outside of management's control.

Filing of Form 10-Q for CenterPoint Energy, Inc.

Today, CenterPoint Energy, Inc. filed with the Securities and Exchange Commission (SEC) its Quarterly Report on Form 10-Q for the quarter ended March 31, 2022. A copy of that report is available on the company's website, under the Investors section. Investors and others should note that we may announce material information using SEC filings, press releases, public conference calls, webcasts, and the Investor Relations page of our website.  In the future, we will continue to use these channels to distribute material information about the company and to communicate important information about the company, key personnel, corporate initiatives, regulatory updates and other matters.  Information that we post on our website could be deemed material; therefore we encourage investors, the media, our customers, business partners and others interested in our company to review the information we post on our website.

Webcast of Earnings Conference Call

CenterPoint Energy's management will host an earnings conference call on May 3, 2022, at 7:00 a.m. Central time / 8:00 a.m. Eastern time. Interested parties may listen to a live audio broadcast of the conference call on the company's website under the Investors section. A replay of the call can be accessed approximately two hours after the completion of the call and will be archived on the website for at least one year.

About CenterPoint Energy, Inc.

As the only investor owned electric and gas utility based in Texas, CenterPoint Energy, Inc. (NYSE: CNP) is an energy delivery company with electric transmission and distribution, power generation and natural gas distribution operations that serve more than 7 million metered customers in Indiana, Louisiana, Minnesota, Mississippi, Ohio and Texas. As of March 31, 2022, the company owned approximately $35 billion in assets. With approximately 8,900 employees, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, visit CenterPointEnergy.com.

Forward-looking Statements

This news release includes, and the earnings conference call will include, forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this news release, the words "anticipate," "believe," "continue," "could," "estimate," "expect," "forecast," "goal," "intend," "may," "objective," "plan," "potential," "predict," "projection," "should," "target," "will" or other similar words are intended to identify forward-looking statements. These forward-looking statements are based upon assumptions of management which are believed to be reasonable at the time made and are subject to significant risks and uncertainties. Actual events and results may differ materially from those expressed or implied by these forward-looking statements. Examples of forward-looking statements in this news release or on the earnings conference call include statements regarding capital investments (including with respect to renewables projects, mobile generation spend and the City of Houston's Master Energy Plan and Resilient Now), the impacts of the February 2021 winter storm event on our business and service territories and the recovery and timing of recovery of associated gas costs, future earnings and guidance, including long-term growth rate, operations and maintenance expense reductions, financing plans (including the timing of any future equity issuances, credit metrics and parent level debt), the impact of disruptions to the global supply chain on our business, including our generation transition plan, ZENS and impacts of the maturity of ZENS, tax planning opportunities (such as any potential use of the repairs expense deduction), future financial performance and results of operations, including with respect to regulatory actions and recoverability of capital investments, customer rate affordability, value creation, opportunities and expectations, ESG strategy, including transition to Net Zero, and any other statements that are not historical facts are forward-looking statements. Each forward-looking statement contained in this news release or discussed on the earnings conference call speaks only as of the date of this release or the earnings conference call.

Important factors that could cause actual results to differ materially from those indicated by the provided forward-looking information include, but are not limited to, risks and uncertainties relating to: (1) CenterPoint Energy's potential business strategies and strategic initiatives, restructurings, joint ventures and acquisitions or dispositions of assets or businesses, including the completed sale of our Natural Gas businesses in Arkansas and Oklahoma and exit from midstream, which we cannot assure you will have the anticipated benefits to us; (2) industrial, commercial and residential growth in CenterPoint Energy's service territories and changes in market demand; (3) CenterPoint Energy's ability to fund and invest planned capital, and timely and appropriate rate actions that allow recovery of costs and a reasonable return on investment, including those related to Indiana Electric's generation transition plan as part of its more recent IRP; (4) financial market and general economic conditions, including access to debt and equity capital and the effect on sales, prices and costs; (5) continued disruptions to the global supply chain and increases in commodity prices; (6) actions by credit rating agencies, including any potential downgrades to credit ratings; (7) the timing and impact of regulatory proceedings and actions and legal proceedings, including those related to Houston Electric's mobile generation; (8) legislative decisions, including tax and developments related to the environment such as global climate change, air emissions, carbon, waste water discharges and the handling of coal combustion residuals, among others, and CenterPoint Energy's Net Zero and carbon emissions reduction goals; (9) the impact of the COVID-19 pandemic; (10) the recording of impairment charges; (11) weather variations and CenterPoint Energy's ability to mitigate weather impacts, including impacts from the February 2021 winter storm event; (12) changes in business plans; (13) CenterPoint Energy's ability to execute on its initiatives, targets and goals, including its Net Zero and carbon emissions reduction goals and operations and maintenance goals; and (14) other factors discussed CenterPoint Energy's Annual Report on Form 10-K for the fiscal year ended December 31, 2021 and CenterPoint Energy's Quarterly Report on Form 10-Q for the quarter ended March 31, 2022, including in the "Risk Factors" and "Cautionary Statement Regarding Forward-Looking Information" sections of such reports, and other reports CenterPoint Energy or its subsidiaries may file from time to time with the Securities and Exchange Commission.

 

 

 

2022-05-03T05:00:00Z
CenterPoint Energy reports 2022 annual shareholder meeting results

Houston – April 22, 2022 – CenterPoint Energy, Inc. (NYSE: CNP) announced the results of the voting by shareholders at its 2022 annual meeting held today.

Shareholders approved the election of existing directors Wendy Montoya Cloonan, Earl M. Cummings, David J. Lesar, Raquelle W. Lewis, Martin H. Nesbitt, Theodore F. Pound, Phillip R. Smith, and Barry T. Smitherman to serve on the company's Board of Directors for one-year terms. Shareholders also elected Christopher H. Franklin as a new independent director to the company's Board of Directors for a one-year term.

Since 1992, Franklin has served in various roles of increasing responsibility at Essential Utilities, Inc., formerly AquaAmerica, Inc., a public company providing regulated utilities, including water, wastewater and natural gas, to approximately 5 million customers in 10 states. He has served as CEO since 2015, and as Chairman since 2017.   

In addition to his service on the Board of Directors of Essential Utilities, Franklin previously served on the Board of ITC Holdings from 2011 to 2016. He is active in the Pennsylvania community where he serves on a number of nonprofit and higher education boards, including the Chamber of Commerce for Greater Philadelphia, the University of Pennsylvania Board of Trustees and The Franklin Institute Board of Trustees. Franklin was named one of the Philadelphia Business Journal's Most Admired CEOs in 2017 and recognized by EY, formerly Ernst & Young, as an "Entrepreneur of the Year" in 2019 for the acquisition of Pittsburgh-based Peoples and his many years of successful leadership in the utility industry.

"We are very pleased to welcome Chris to our Board of Directors as CenterPoint Energy continues to refocus on its core regulated utility businesses," said Martin Nesbitt, Independent Chair of the Board. "We will benefit greatly from his extensive executive management experience, particularly with public regulated utilities, and his strategic leadership on major construction and capital projects. Chris' addition will further enhance the capabilities, experiences and skills we have represented on our Board."

Regarding his appointment to the Board of Directors, Franklin said, "I am honored to serve as a director of CenterPoint Energy and look forward to working with my fellow directors and the company's management team. CenterPoint Energy continues to demonstrate a track record of execution and performance, with actions to align its interests more closely with those of its shareholders and customers. I also look forward to supporting the company's long-term strategy to position it as a premium utility with industry-leading growth."

Franklin earned his Bachelor of Science degree from West Chester University of Pennsylvania and his MBA from Villanova University.

Shareholders also approved the ratification of the appointment of Deloitte & Touche LLP as the company's independent registered public accounting firm for 2022 and the adoption of the CenterPoint Energy, Inc. 2022 Long-Term Incentive Plan. The advisory resolution on executive compensation was not approved by shareholders.

"We appreciate that our shareholders recognized CenterPoint Energy's Long-Term Incentive Plan is designed to attract and retain the talent to execute the company's long-term growth strategy, is consistent with its pay-for-performance philosophy, and aligns with the interests of all stakeholders," said CenterPoint Energy Board Member and Compensation Committee Chair Ted Pound. "We also value and respect the perspectives of our shareholders, and the Board will take their views on executive compensation into consideration as we evaluate an approach that will serve the company and our investors."

About CenterPoint Energy

As the only investor-owned electric and natural gas utility based in Texas, CenterPoint Energy, Inc. (NYSE: CNP) is an energy delivery company with electric transmission and distribution, power generation and natural gas distribution operations that serve more than 7 million metered customers in Indiana, Louisiana, Minnesota, Mississippi, Ohio and Texas. As of December 31, 2021, the company owned approximately $38 billion in assets with approximately 9,400 employees. CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, visit CenterPointEnergy.com.

2022-04-22T05:00:00Z
CenterPoint Energy reminds customers to contact 811 before digging projects to keep communities safe

Houston – April 19, 2022 – In recognition of National Safe Digging Month, CenterPoint Energy urges customers to call 811 before beginning projects that require digging to prevent damage to essential underground utilities and keep communities safe. With warmer weather, outdoor projects begin such as gardening, building a fence, installing a mailbox or installing a pool. Before beginning the work, customers should request that the approximate location of buried utilities be marked with paint or flags to prevent unintentional digging into an underground utility line. Private-owned lines, such as sprinklers or lines serving outdoor appliances, are not marked by the utility. 

CenterPoint Energy's natural gas transmission and distribution business has been serving customers for more than a century, carrying natural gas used to heat homes and fuel appliances. According to Common Ground Alliance's (CGA) 2021 omnibus study, an association dedicated to voicing best practices used to prevent damage to underground infrastructure, 49% of U.S. homeowners plan to dig this year without contacting 811 beforehand to learn the approximate location of underground utilities, putting themselves and their communities at risk.

"Utilizing 811 is the law in most states and required to properly locate all of the utilities prior to beginning digging projects," said Shane Alexander, Director, Damage Prevention for CenterPoint Energy. "Everyone is expected to use the 811 system and have utilities marked, regardless of how big or small you think the project is."

As part of National Safe Digging Month, CenterPoint Energy encourages homeowners to take the following steps when planning a digging project this spring:

  • Always contact 811 two to three days before digging, regardless of the depth or familiarity with the property.
  •  Plan ahead. Make a no-cost 811 request on Monday or Tuesday for work planned for an upcoming weekend, providing ample time for the approximate location of lines to be marked.
  • Confirm that all lines have been marked.
  • Consider moving the location of your project if it is near utility line markings.
  • If a contractor has been hired, confirm that the contractor has contacted 811. Don't allow work to begin if the lines aren't marked.
  •  Visit www.811beforeyoudig.com for complete information.

Customers calling 811 will be connected to a local one call notification center that will take their information and communicate it to local utility companies. Professional locators will then visit the dig site to mark the approximate location of underground utility lines with spray paint, flags or both. Once a site has been accurately marked, it is safe to begin digging around the marked areas.

In the case of hit pipeline, one should leave the area immediately. Once in a safe location, report the leak by calling the CenterPoint Energy utility emergency line at 888-876-5786.

Additional information about pipeline safety can be found at www.centerpointenergy.com/811.

2022-04-19T05:00:00Z
CenterPoint Energy electric transmission and distribution business files Distribution Cost Recovery Factor application

Houston – April 5, 2022 – CenterPoint Energy announced today that its Texas electric transmission and distribution business, CenterPoint Energy Houston Electric, filed an application for a Distribution Cost Recovery Factor (DCRF) adjustment with the Public Utility Commission of Texas (PUCT) and the cities in its service area.  

DCRF is an interim rate adjustment that, if approved, permits an electric utility to adjust its rates to account for changes in distribution-invested capital between base rate proceedings. "The interim rate adjustment provides our customers with smaller adjustments in their rates over time versus a large one-time rate adjustment," said Lynnae Wilson, Senior Vice President, Houston Electric.

"The greater Houston regional economy remained strong and experienced continued growth despite the challenging backdrop of a global pandemic. CenterPoint Energy continues to invest capital in our electric distribution system for system improvement, resiliency, customer load growth and intelligent grid projects to provide safe and reliable service to our customers throughout the greater Houston area," added Wilson. "An interim rate adjustment, like DCRF, allows CenterPoint Energy to recover costs for the investments necessary to maintain reliable service in between general base rate proceedings."   

This is the company's first DCRF filing since undergoing a rigorous and comprehensive base rate proceeding in 2019-2020. The filing seeks to recover more than $1.6 billion in distribution capital invested since 2018, the time period reviewed in the prior base rate proceeding. This filing, therefore, covers a three-year investment period from January 1, 2019, through December 31, 2021. The major factors driving these investments include:

  • System Improvement Projects – These projects involve the proactive rehabilitation of overhead and underground distribution system wires, poles, lightning protection, wildlife protection, and insulators to improve system reliability throughout the company's service area.
  • Load Growth Projects – These projects are required to serve an increasing number of customers and increasing demand for the delivery of power and include the addition of transformers and other equipment to meet that demand. These projects improve the electrical system's reliability and resiliency for all customers by providing additional capabilities that enhance the ability to serve both an increasing number of customers and to simultaneously minimize customer outage duration when they occur.
  • Intelligent Grid Projects These projects use advances in technology and are designed to improve the company's ability to operate its electrical distribution system, including power line monitoring equipment, remote switches, and other automated equipment that locates power line outages or issues in near real time (as they occur). This improves customer outage recovery times since repair crews do not have to be dispatched to search for the source and cause of an outage, allowing repairs to be started and completed much sooner. In fact, since 2011, the use of Intelligent Grid automation has been used to re-route and restore power to customers in over 3,729 outage events, saving customers more than 468 million minutes of outage time.

Also, in response to Winter Storm Uri, new legislation passed during the 2021 Texas Legislative Session allows electric utilities, like CenterPoint Energy, to lease and operate temporary emergency mobile generation facilities to help lessen outage duration to customers during certain load shed events, to aid in the restoration of electric service following weather events or other events that cause widespread power outages, as defined by the Legislature. The company's filed DCRF rate adjustment includes some of the costs for the deployment of these facilities.

The estimated residential customer impact based on a monthly usage of 1,000 kilowatt hours is an $2.76 increase billed to the consumer's retail electric provider. New rates are expected to go into effect by September 1.

"In addition to the investments to improve the reliability and resiliency of the distribution system, CenterPoint Energy strives to control the cost of service for our customers by improving efficiencies in our operations and maintenance practices. That focus, coupled with strong and consistent customer growth, minimizes the rate impacts of these investments," added Wilson.

About CenterPoint Energy

As the only investor-owned electric and gas utility based in Texas, CenterPoint Energy, Inc. (NYSE: CNP) is an energy delivery company with electric transmission and distribution, power generation and natural gas distribution operations that serve more than 7 million metered

customers in Indiana, Louisiana, Minnesota, Mississippi, Ohio and Texas. As of December 31, 2021, the company owned approximately $38 billion in assets. With approximately 9,400 employees, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, visit CenterPointEnergy.com.

Forward Looking Statement
This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this news release, the words "anticipate," "believe," "continue," "could," "estimate," "expect," "forecast," "goal," "intend," "may," "objective," "plan," "potential," "predict," "projection," "should," "target," "will" or other similar words are intended to identify forward-looking statements. These forward-looking statements are based upon assumptions of management which are believed to be reasonable at the time made and are subject to significant risks and uncertainties. Actual events and results may differ materially from those expressed or implied by these forward-looking statements. Any statements in this news release regarding future events, such as the approval of the DCRF and the timing thereof, and the effects of the DCRF approval, including estimated rate increases and timing of such increases, and any other statements that are not historical facts are forward-looking statements. Each forward-looking statement contained in this news release speaks only as of the date of this release. Important factors that could cause actual results to differ materially from those indicated by the provided forward-looking information include risks and uncertainties relating to: (1) the impact of COVID-19; (2) financial market conditions; (3) general economic conditions; (4) the timing and impact of future regulatory and legislative decisions; (5) effects of competition; (6) weather variations; (7) changes in business plans; (8) growth in CenterPoint Energy's service territory and changes in market demand; (9) CenterPoint Energy's ability to execute on operations initiatives, targets and goals; and (10) other factors, risks and uncertainties discussed in CenterPoint Energy's Annual Report on Form 10-K for the fiscal year ended December 31, 2021 and other reports CenterPoint Energy or its subsidiaries may file from time to time with the Securities and Exchange Commission.

2022-04-05T05:00:00Z
CenterPoint Energy suspending disconnections for Indiana customers

Evansville – March 15, 2022 – In an effort to help customers needing payment assistance, CenterPoint Energy is voluntarily suspending disconnections for its Indiana residential customers through May 31, 2022. Customers will continue to receive disconnect bills during this temporary suspension period, but their service will not be disconnected.

"We recognize there are many factors contributing to increased natural gas bills this winter heating season, including higher natural gas prices and a new rate structure – the first base rate increase since 2007 – that makes the customer's bill more dependent on the amount of natural gas used when compared to the prior rate structure," said Ashley Babcock, Vice President, Indiana and Ohio Natural Gas. "CenterPoint Energy is committed to providing our customers with the safe, reliable service they expect in the most cost-effective manner possible."

CenterPoint Energy is working on additional measures to assist customers and enhance the overall customer experience. Call center staff have been working extra hours to address the increased volume of customer inquiries as the company continues the hiring and training of additional agents. Customers can utilize CenterPoint Energy's self-service options at www.centerpointenergy.com to handle common transactions quickly and efficiently.

Customers are also encouraged to contact the local Indiana Community Action Agency, which administers the Indiana Energy Assistance Program (EAP) for income-eligible customers and can provide intake information about the application process and program requirements. EAP is available to Indiana customers with CenterPoint Energy natural gas and/or electric service. For Indiana natural gas customers, the Universal Service Program (USP) provides a monthly discount on residential gas charges during the heating season. To qualify for EAP and USP, annual household income cannot exceed 60% of the State Median Income poverty guidelines.

If additional payment assistance is needed, customers should contact CenterPoint Energy at 1-800-227-1376 to discuss options.

2022-03-15T05:00:00Z
Natural gas service restoration in Seguin and McQueeney, Texas substantially complete

Houston – March 11, 2022 – Following a natural gas outage impacting customers in Seguin and McQueeney, Texas, CenterPoint Energy has restored service to all customers who have provided the company access to perform safety checks and relight pilots. The outage resulted from a pipeline company, unrelated to CenterPoint Energy, damaging its own line, which feeds the CenterPoint Energy natural gas system serving these areas.

A small number of customers still remain without service because CenterPoint Energy employees were not able to access their home or business. The relighting process requires CenterPoint Energy employees to have access to each location to light pilots and check to make sure it is safe to resume service. If an adult over age 18 is not at the service address when a technician arrives, the company will leave a blue door hanger with instructions.

"Customers need to call us only if there is a blue door hanger at their home or business indicating that we have already been there to attempt to restore service," said Tal Centers, Vice President, Texas Gas at CenterPoint Energy. "Please call 888-551-4011, the number on the door tag left by our service personnel."

2022-03-11T06:00:00Z
CenterPoint Energy Announces 2022 Annual Meeting of Shareholders

Houston – March 10, 2022 - CenterPoint Energy, Inc. (NYSE: CNP) today announced that its 2022 annual meeting of shareholders will be held on Friday, April 22, 2022 at 9 a.m. CDT in the CenterPoint Energy Tower auditorium, 1111 Louisiana Street, Houston, Texas. Holders of record of CenterPoint Energy common stock at the close of business on February 25, 2022 will receive notice of the meeting and will be entitled to vote.

As the only investor-owned electric and gas utility based in Texas, CenterPoint Energy, Inc. (NYSE: CNP) is an energy delivery company with electric transmission and distribution, power generation and natural gas distribution operations that serve more than 7 million metered customers in Indiana, Louisiana, Minnesota, Mississippi, Ohio and Texas. As of December 31, 2021, the company owned approximately $38 billion in assets. With approximately 9,400 employees, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, visit CenterPointEnergy.com.

2022-03-10T06:00:00Z
CenterPoint Energy begins relighting process for impacted customers in Seguin and McQueeney, Texas

Houston – March 9, 2022 – Following yesterday's natural gas outage impacting customers in Seguin and McQueeney, which resulted from a non-CenterPoint Energy pipeline company damaging its line, CenterPoint Energy has begun the relighting process for customers.

  • Company expects most customers to be restored by Friday

"The pipeline company has finalized its repairs and we have completed the process of turning off each customer's natural gas meter. Our service technicians performed a series of safety checks to ensure there is no risk involved in restoring natural gas service," said Tal Centers, Vice President, Texas Gas at CenterPoint Energy. "As we work to restore service to impacted customers, safety continues to be our number-one priority.

"More than 300 company employees, contractors and mutual assistance crews have been called to help expedite the restoration process. Qualified service technicians will come to customers' homes or businesses today to turn on their natural gas meters. Technicians will work on the restoration process overnight and we expect most service to be restored by Friday. We apologize for this inconvenience and appreciate our customers' patience as we work to restore service to our communities," added Centers.

At this time, no action is required on the part of the customer. Technicians will be working extended hours for the relighting process. If an adult over age 18 is not at the service address when a technician arrives, the company will leave a door hanger with instructions. All CenterPoint Energy technicians and contractors wear badges and will gladly show them to customers upon request before entering a home or business.

For updates, follow CenterPoint Energy on Twitter: @CNPAlerts and Facebook: Facebook.com/CenterPointEnergy.

2022-03-09T06:00:00Z
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