CenterPoint Energy’s Scott M Prochazka named President and CEO
David M. McClanahan to step down Dec. 31
2013-10-29T05:00:00Z

HOUSTON - Oct. 29, 2013 - CenterPoint Energy, Inc. (NYSE: CNP) today announced that David M. McClanahan, 64, will step down as president and chief executive officer and as a member of the company’s board of directors, effective Dec. 31. The board of directors has named Scott M. Prochazka, 47, the company’s chief operating officer as McClanahan’s successor. McClanahan will remain as an officer with the company and special advisor to the CEO during the first half of 2014.

“Succession planning is a key component in a smooth leadership transition. Since being appointed COO, Scott has demonstrated outstanding leadership and strategic vision,” said Milton Carroll, chairman of the board of CenterPoint Energy. “The board has confidence that Scott will be effective in helping achieve sustainable, long-term success for our shareholders, employees and the communities we serve. I also want to thank David for his 41 years of invaluable service to our company.”

“Scott has helped us achieve strong financial and operational performance in our business units, and he has a good depth of experience from leading both our electric and natural gas utility businesses,” said McClanahan. “I look forward to continuing to work with Scott as he transitions into his new role.”

“I am grateful for the board’s confidence in my ability to lead the company,” said Prochazka. “David’s leadership has been essential in establishing CenterPoint Energy as an industry leader and providing us a strong foundation for the future. I look forward to building upon our past successes.”

McClanahan started his career with CenterPoint Energy’s predecessor company, Houston Lighting & Power Company, in 1972 following his graduation from the University of Texas. He held various positions of increasing responsibility until being named president and CEO in 2001. Over the twelve years of his tenure as CEO, CenterPoint Energy has been one of the leaders in total shareholder return among its regulated utility peers. The company’s natural gas utility business has consistently been ranked as a top performer in the J.D. Power Customer Satisfaction Survey, and the company has been ranked among the top places to work in Houston, its headquarters city. McClanahan is the current chairman of the Greater Houston Partnership and the Gulf Coast Regional Blood Center. He is past chairman of the American Gas Association, Central Houston, the Electric Reliability Council of Texas, Junior Achievement of Southeast Texas, the United Way of Greater Houston and the University of St. Thomas.

Prochazka has been with CenterPoint Energy since October 2001 and at various times has led the operations of the company’s electric and natural gas utility businesses. He also had key leadership roles in Corporate Strategic Planning and Customer Service. Prior to joining CenterPoint Energy, Prochazka worked in a variety of roles for Dow Chemical from 1989 to 2001. He received a bachelor’s degree with highest honors in chemical engineering from The University of Texas. He has also completed executive development programs at the University of Chicago Booth School of Business and the Kelley School of Business at Indiana University.

Prochazka currently serves on the boards of Junior Achievement of Southeast Texas, the Electric Reliability Council of Texas and Gridwise Alliance. He also serves on the President’s Advisory Board of the University of St. Thomas. He is past chairman of the Southeastern Electric Exchange and the Texas Gas Association.

CenterPoint Energy, Inc., headquartered in Houston, Texas, is a domestic energy delivery company that includes electric transmission & distribution, natural gas distribution and competitive natural gas sales and services operations. The company serves more than five million metered customers primarily in Arkansas, Louisiana, Minnesota, Mississippi, Oklahoma, and Texas. The company also owns a 58.3 percent limited partner interest in Enable Midstream Partners, a midstream partnership it jointly controls with OGE Energy Corp. with operations in major natural gas and liquids producing areas of Oklahoma, Texas, Arkansas and Louisiana. With more than 8,700 employees, CenterPoint Energy and its predecessor companies have been in business for more than 135 years. For more information, visit the website at www.CenterPointEnergy.com.

This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual events and results may differ materially from those expressed or implied by these forward-looking statements. The statements in this news release regarding future events and 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 the release.

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Gov. Mark Dayton proclaims April as Minnesota Safe Digging Month

MINNEAPOLIS April 25, 2017Minnesota Governor Mark Dayton issued a proclamation announcing April as Minnesota Safe Digging Month. The proclamation reminds homeowners to call 811 before starting any outdoor digging projects to prevent injuries, property damage and inconvenient outages.

An underground utility line is damaged once every six minutes nationwide because someone decided to dig without first calling 811, according to data collected by Common Ground Alliance (CGA)

"Contacting 811 at least two working days before digging prevents 99 percent of damages to vital underground utilities," said Keith Novy, supervisor of Damage Prevention for CenterPoint Energy.  "811 makes it very easy and convenient. You can submit your dig requests on your home computer on the website, GopherStateOneCall.org, or call 811 and talk to an operator."

By calling 811 before digging:

  • Homeowners are connected to Gopher State One Call, which notifies the appropriate utility companies of the intent to dig.
  • Professional locators are then sent to the requested digging site to mark the approximate locations of underground lines with flags and paint.
  • Once lines have been accurately marked, homeowners can dig carefully around marked lines.
     

Digging without knowing the approximate location of underground utilities can result in damage to gas, electric, communications, water and sewer lines, which can lead to service disruptions, serious injuries and costly repairs.

Examples of digging projects that require a call to 811 before starting would be installing a mailbox, putting in a fence, laying underground cable or installing water lines. Visit Call811.com for more information about 811 and the call-before-you-dig process.

CenterPoint Energy, Inc., headquartered in Houston, Texas, is a domestic energy delivery company that includes electric transmission & distribution, natural gas distribution and energy services operations. The company serves more than five million metered customers primarily in Arkansas, Louisiana, Minnesota, Mississippi, Oklahoma, and Texas. The company also owns a 55.4 percent limited partner interest in Enable Midstream Partners, a publicly traded master limited partnership it jointly controls with OGE Energy Corp., which owns, operates and develops natural gas and crude oil infrastructure assets. Withmore than 7,700 employees, CenterPoint Energy and its predecessor companies have been in business for more than 140 years. The utility also operates a non-regulated business in Minnesota called Home Service Plus®. For more information, visit the website at CenterPointEnergy.com.

Governor Asa Hutchinson proclaims April as Arkansas Safe Digging Month

HOUSTON April 18, 2017Arkansas Governor Asa Hutchinson issued a proclamation announcing April as Arkansas Safe Digging Month. The proclamation reminds homeowners to call 811 before starting any outdoor digging projects to prevent injuries, property damage and inconvenient outages.

An underground utility line is damaged once every six minutes nationwide because someone decided to dig without first calling 811, according to data collected by Common Ground Alliance (CGA). 

"Contacting 811 at least two working days before digging prevents 99 percent of damages to vital underground utilities," said Vincent Vickers, supervisor of Damage Prevention for CenterPoint Energy.  "811 makes it very easy and convenient. You can submit your dig requests on your home computer on the website, www.arkonecall.com, or call 811 and talk to an operator."

By calling 811 before digging:

  • Homeowners are connected to Arkansas One Call, which notifies the appropriate utility companies of the intent to dig.
  • Professional locators are then sent to the requested digging site to mark the approximate locations of underground lines with flags and paint.
  • Once lines have been accurately marked, homeowners can dig carefully around marked lines.

Digging without knowing the approximate location of underground utilities can result in damage to gas, electric, communications, water and sewer lines, which can lead to service disruptions, serious injuries and costly repairs.


Examples of digging projects that require a call to 811 before starting would be installing a mailbox, putting in a fence, laying underground cable or installing water lines. Visit www.call811.com for more information about 811 and the call-before-you-dig process.

CenterPoint Energy, Inc., headquartered in Houston, Texas, is a domestic energy delivery company that includes electric transmission & distribution, natural gas distribution and energy services operations. The company serves more than five million metered customers primarily in Arkansas, Louisiana, Minnesota, Mississippi, Oklahoma, and Texas. The company also owns a 54.1 percent limited partner interest in Enable Midstream Partners, a publicly traded master limited partnership it jointly controls with OGE Energy Corp., which owns, operates and develops natural gas and crude oil infrastructure assets. With more than 7,700 employees, CenterPoint Energy and its predecessor companies have been in business for more than 140 years. For more information, visit the website at www.CenterPointEnergy.com

Gov. Greg Abbott proclaims April as Texas Safe Digging Month

HOUSTON April 18, 2017Texas Governor Greg Abbott issued a proclamation announcing April as Texas Safe Digging Month. The proclamation reminds homeowners to call 811 before starting any outdoor digging projects to prevent injuries, property damage and inconvenient outages.

An underground utility line is damaged once every six minutes nationwide because someone decided to dig without first calling 811, according to data collected by Common Ground Alliance (CGA). 

"Contacting 811 at least two working days before digging prevents 99 percent of damages to vital underground utilities," said Joseph Berry, director of Underground Locating for CenterPoint Energy.  "811 makes it very easy and convenient. You can submit your dig requests on your home computer at the website, www.lonestar811.com, or call 811 and talk to an operator."

By calling 811 before digging:

  • Homeowners are connected to Lone Star 811, which notifies the appropriate utility companies of the intent to dig.
  • Professional locators are then sent to the requested digging site to mark the approximate locations of underground lines with flags and paint.
  • Once lines have been accurately marked, homeowners can dig carefully around marked lines.


Digging without knowing the approximate location of underground utilities can result in damage to gas, electric, communications, water and sewer lines, which can lead to service disruptions, serious injuries and costly repairs.


Every digging project, no matter how large or small, necessitates a call to 811. Examples of digging projects that require a call to 811 before starting would be installing a mailbox, putting in a fence, laying underground cable or installing water lines.  Visit www.call811.com for more information about 811 and the call-before-you-dig process.

CenterPoint Energy, Inc., headquartered in Houston, Texas, is a domestic energy delivery company that includes electric transmission & distribution, natural gas distribution and energy services operations. The company serves more than five million metered customers primarily in Arkansas, Louisiana, Minnesota, Mississippi, Oklahoma, and Texas. The company also owns a 54.1 percent limited partner interest in Enable Midstream Partners, a publicly traded master limited partnership it jointly controls with OGE Energy Corp., which owns, operates and develops natural gas and crude oil infrastructure assets. With more than 7,700 employees, CenterPoint Energy and its predecessor companies have been in business for more than 140 years. For more information, visit the website at www.CenterPointEnergy.com

CenterPoint Energy reaches rate case settlement for Houston-area customers

HOUSTON, April 7, 2017 - CenterPoint Energy today filed with the Railroad Commission of Texas (RRC) a Stipulation and Agreement (the settlement) in the company's pending rate case. The settlement was entered into by all parties in the case, including the City of Houston/Houston Coalition of Cities, the Gulf Coast Coalition of Cities, the Texas Coast Utilities Coalition, and the Staff of the RRC. If approved by the RRC, the settlement will resolve all issues in that proceeding.

The settlement would increase the company's natural gas distribution base rate revenues for Houston-area customers by approximately $16.5 million per year. Additionally, if approved, the settlement will result in initial base rates that are the same for customers in the Houston Division and Texas Coast Division. It would also set a uniform rate for the cost of natural gas, which the company passes on to customers with no mark up.

The settlement would set new parameters, including a 9.6% return on equity on a 55.15% equity capital structure and updated depreciation rates, to be used in future Gas Reliability Infrastructure Program (GRIP) filings. GRIP is an interim rate adjustment allowed by Texas statute that allows utilities to recover their costs related to additional invested capital without filing a full rate case. CenterPoint Energy must file its next GRIP filing within two years of a final order in the pending rate case and a full rate case must be filed within five-and-a-half years after CenterPoint Energy's next GRIP filing.

If approved, residential customers within the Houston and Texas Coast Divisions would pay the same fixed monthly charge of $15.75 and the same usage rate of $0.07431 for each hundred cubic feet (Ccf) of natural gas used. An average residential bill with usage of 34 Ccf would be approximately $37 per month, excluding taxes. If the settlement is approved, the new rates are expected to go into effect in May or June of this year.

"This settlement is the result of collaborative work with all parties involved in the case to find common ground on a solution rather than litigating an extended rate case," said Randy Pryor, CenterPoint Energy's vice president of gas operations. "We believe this settlement benefits all parties and provides CenterPoint Energy the opportunity to earn a reasonable return on the investments we are making for safety and reliability now and in the future," added Pryor.

CenterPoint Energy, Inc., headquartered in Houston, Texas, is a domestic energy delivery company that includes electric transmission & distribution, natural gas distribution and energy services operations. The company serves more than five million metered customers primarily in Arkansas, Louisiana, Minnesota, Mississippi, Oklahoma, and Texas. The company also owns a 54.1 percent limited partner interest in Enable Midstream Partners, a publicly traded master limited partnership it jointly controls with OGE Energy Corp.,  which owns, operates and develops natural gas and crude oil infrastructure assets. With more than 7,700 employees, CenterPoint Energy and its predecessor companies have been in business for more than 140 years. For more information, visit the website at www.CenterPointEnergy.com.

This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  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 future regulatory actions on the settlement by the RRC and the impact of such actions, 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.

CenterPoint Energy electric transmission and distribution business files Distribution Cost Recovery Factor application

HOUSTON - April 6, 2017 - CenterPoint Energy announced today that its electric transmission and distribution business, CenterPoint Energy Houston Electric, filed an application for Distribution Cost Recovery Factor (DCRF) with the Public Utility Commission of Texas (PUC) and the cities in its service area.

DCRF is an interim rate adjustment that, if approved, permits an electric utility to implement new rates to account for changes in distribution-invested capital since its last rate case.

"Houston's economy continues to thrive and we are making significant capital investments to meet the needs of our growing customer base and load," said Kenny Mercado, senior vice president of CenterPoint Energy's Electric Operations.

This is the company's third DCRF filing and represents a $44.6 million annual increase over current rates to begin recovering approximately $479 million in distribution capital invested in 2016. The estimated residential customer impact based on a monthly usage of 1,000 kilowatt hours is an $0.80 increase billed to the consumer's Retail Electric Provider. New rates are expected to go into effect by September 1.

 

CenterPoint Energy, Inc., headquartered in Houston, Texas, is a domestic energy delivery company that includes electric transmission & distribution, natural gas distribution and energy services operations. The company serves more than five million metered customers primarily in Arkansas, Louisiana, Minnesota, Mississippi, Oklahoma, and Texas. The company also owns a 54.1 percent limited partner interest in Enable Midstream Partners, a publicly traded master limited partnership it jointly controls with OGE Energy Corp., which owns, operates and develops natural gas and crude oil infrastructure assets. With more than 7,700 employees, CenterPoint Energy and its predecessor companies have been in business for more than 140 years. For more information, visit the website at www.CenterPointEnergy.com.

This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. 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 future regulatory actions on the DCRF application, future economic conditions 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.