New team of CenterPoint Energy crews arrive in Puerto Rico to support ongoing power restoration efforts

Houston – Feb. 12, 2018 – A new team of 70 CenterPoint Energy employees arrived in Puerto Rico over the weekend, joining the more than 1,500 crews from other U.S. utilities that are helping Puerto Rico Electric Power Authority (PREPA) restore power following the devastation of Hurricane Maria. This second team of skilled linemen replaced the initial 70 employees who have been working on the island since mid-January.

"We continue to make progress having restored power to nearly 1,500 residents in the Arecibo area since we arrived on the island," said Ed Scott, director of operations for CenterPoint Energy. "Because of the logistical and geographical challenges, this mission has been unique. Crews will often work all day to restore service to only a handful of residents. But our employees are highly skilled and dedicated to the task at hand, having replaced 152 poles and more than 1,400 spans of wire to date."

Extensive portions of Puerto Rico's electric grid are located in rugged, mountainous terrain that has little or no road access due to Hurricane Maria's impact. Some customers may not be able to receive power to their homes or businesses because of their location and damage from the storm.

"CenterPoint Energy crews continue to work hand-in-hand with other utilities to overcome these challenges. It's immensely gratifying to turn the lights on for the residents of Puerto Rico," added Scott.

In late October, the Edison Electric Institute (EEI) and the American Public Power Association (APPA) received a request from PREPA to support power restoration efforts on the island. In early November, PREPA expanded its aid request to include the National Rural Electric Cooperative Association (NRECA).

As a result, a team of electric company storm response experts has been on the ground coordinating closely with local officials, the Federal Emergency Management Agency, and the U.S. Army Corps of Engineers. The team has been focused on assessing damages and formalizing a structure for supporting logistics, equipment needs and supply chain issues, as well as ensuring ongoing restoration efforts are completed safely, effectively and efficiently.

CenterPoint Energy is part of electric utility mutual assistance programs that provide access to thousands of linemen and tree trimmers from around the country to lend a hand during widespread power outage emergencies. Coming to the aid of other utilities is nothing new to CenterPoint Energy employees. Over the years, crews have responded and restored power to hundreds of thousands of customers throughout the country who have been left in the dark following hurricanes, ice storms, tornadoes and severe thunderstorms.

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

 

2018-02-12T06:00:00Z
CenterPoint Energy earns "Emergency Recovery Award" for restoration efforts following severe storms in Sealy, Texas

Houston – Jan. 29, 2018 – CenterPoint Energy has been presented with the Edison Electric Institute (EEI)'s "Emergency Assistance Award" for its outstanding power restoration efforts after storms hit Sealy, Texas in May 2017.

"At CenterPoint Energy, we take pride in the work we do and our commitment to serving our communities. Whenever a storm approaches, we have a plan in place and proactively respond to the emergency. Then, we work hard to restore power as quickly and safely as possible," said Ed Scott, director of operations for CenterPoint Energy.

On May 23, severe storms with winds between 80 and 100 mph hit the community of Sealy. The torrential rain, massive hail and tornado-force winds resulted in nearly 70,000 customer outages. While the storm was isolated to only 15.5 square-miles of CenterPoint Energy's 5,000 square-mile service area, the damage to the electrical infrastructure was extreme.

Working safely and efficiently, CenterPoint Energy crews replaced nine wooden transmission poles, 246 distribution poles and 356 spans of wire (See restoration photos). Crews restored service to 100 percent of customers within two days, dedicating more than 16,000 man-hours to the effort.

"The tireless work by CenterPoint Energy's crews during the Sealy Microburst exemplifies our industry's commitment to customer service," said EEI President Tom Kuhn. "CenterPoint Energy's crews worked diligently to safely restore service to customers, and are very deserving of this award."

The award is presented to EEI member companies to recognize their extraordinary efforts to restore power to customers after service disruptions caused by severe weather conditions or other natural events. The winners were chosen by a panel of judges following an international nomination process, and the awards were presented during EEI's Winter Board and Chief Executives Meeting in Scottsdale.

2018-01-29T06:00:00Z
Snow accumulation can block vents and freeze natural gas meters

Minneapolis – Jan. 24, 2018 – As Minnesotans experience the first snow and ice accumulation of the season, CenterPoint Energy would like to remind the public of important safety tips that can also help prevent service interruptions and ensure proper meter operation.  Snow and ice accumulation on or near the natural gas meter set and/or on the roof above a meter can lead to potentially dangerous conditions, including natural gas buildup in homes and businesses and service disruptions. 

Knowing how your gas meter operates and recognizing the following signs of danger can help prevent potential problems:

  • Accumulations of snow and ice on the meter set can also cause the regulator to malfunction. 
  • Regulators are designed to maintain a constant pressure, ensure safe delivery of natural gas and vent natural gas safely to the atmosphere.
  • Snow can block the regulator vent and freeze the regulator causing improper operation.
  • Thawing snow or ice dams from rooftops above the meter should be kept clear to prevent ice from encasing the meter or chunks of ice falling on the meter causing potential damage.
  • Additionally, customers should maintain a clear path of snow or debris to provide easy access to the natural gas meter.

CenterPoint Energy would also like to remind the public of important winter natural gas safety tips:

  • Do not deposit snow piles on or near the meter.
  • Do not use a snow blower or shovel near the meter or attempt to remove ice from the meter yourself. You can use a broom to keep the snow cleared around and on top of the meter and piping.
  • Call 1-800-296-9815 if there is ice on the meter or one or more of the following conditions exist:
      • Meter is located below a downspout.
      • Overhang or eave does not fully extend over the meter.
      • Meter is located below a roof valley without a gutter.
      • Meter is located below an exterior water spout

If you suspect a natural gas leak, leave the area immediately on foot and tell others to do the same. 

    • Do not start or drive your car into or near a gas leak or vapor cloud.
    • Do not use electric switches, telephones (including cell phones), or anything that could cause a spark.
    • Once safely away from the area, call the CenterPoint Energy emergency gas leak hot line at 1-800-296-9815 and 911 to report the location and description of the leak and CenterPoint Energy will dispatch a trained service technician immediately. 

For more natural gas safety tips, visit the company's website at CenterPointEnergy.com/BeSafe.

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 54.1 percent of the common and subordinated units representing limited partner interests 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 150 years. The utility also operates a non-regulated business in Minnesota called Home Service Plus®. For more information, visit the website at CenterPointEnergy.com.

2018-01-24T06:00:00Z
CenterPoint Energy crews depart for Puerto Rico to support ongoing power restoration efforts

Houston – Jan. 19, 2018 – This morning, CenterPoint Energy crews departed for Puerto Rico as part of a nationwide, coordinated power restoration plan involving several investor-owned electric companies. CenterPoint Energy's 70 employees will join the more than 1,500 additional restoration crew members from other utilities traveling to the island to support the Puerto Rico Electric Power Authority (PREPA) in the next phase of its restoration process. CenterPoint Energy expects its employees and resources to be in Puerto Rico for approximately six weeks.

"We are fully committed to restoring power to Puerto Rico as quickly and as safely as possible," said Ed Scott, director of operations for CenterPoint Energy. "This restoration mission will be more difficult than any other we have worked on, but our crews are prepared to work long hours safely, facing the logistical and geographical challenges accompanying the historic damage to Puerto Rico's infrastructure."

CenterPoint Energy's equipment departed from the Port of Lake Charles in Louisiana on Jan. 3. The barge carrying the trucks and equipment arrived yesterday in the Port of Ponce, Puerto Rico. Once the crews land, they will be transported to the port to collect the equipment and drive the trucks to the Arecibo region, where they will be stationed. This weekend, crews will start working 16-hour shifts after a safety and onboarding process. The company is making plans to send at least one additional shift.

In late October, the Edison Electric Institute (EEI) and the American Public Power Association (APPA) received a request from PREPA to support power restoration efforts on the island. In early November, PREPA expanded its aid request to include the National Rural Electric Cooperative Association (NRECA).

As a result, a team of electric company storm response experts has been on the ground coordinating closely with local officials, the Federal Emergency Management Agency, and the U.S. Army Corps of Engineers. The team has been focused on assessing damages and formalizing a structure for supporting logistics, equipment needs and supply chain issues, as well as ensuring ongoing restoration efforts are completed safely, effectively and efficiently. Experts have identified basecamps for crews and staging sites for materials that will allow workers and materials to be located closer to restoration areas.

Extensive portions of Puerto Rico's electric grid are located in rugged, mountainous terrain that has little or no road access due to Hurricane Maria's impact. Some customers may not be able to receive power to their homes or businesses because of damage from the storm.

"CenterPoint Energy crews will be working hand-in-hand with other utilities to overcome these challenges and assist our fellow citizens in Puerto Rico," added Scott.

CenterPoint Energy is part of electric utility mutual assistance programs that provide access to thousands of linemen and tree trimmers from around the country to lend a hand during widespread power outage emergencies. Coming to the aid of other utilities is nothing new to CenterPoint Energy employees. Over the years, crews have responded and restored power to hundreds of thousands of customers throughout the country who have been left in the dark following hurricanes, ice storms, tornadoes and severe thunderstorms.

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

2018-01-19T06:00:00Z
CenterPoint Energy delivers historical energy efficiency rebate to University of Minnesota

Minneapolis – Jan. 18, 2018 – CenterPoint Energy recently awarded an historical energy conservation rebate check in the amount of $2 million to the University of Minnesota (U of M) for installation and construction of its Main Energy Plant, a high-efficiency natural gas combined heat and power plant (CHP) on the East Bank campus. Energy produced from natural gas now allows the plant to provide its own reliable electric power to serve the Minneapolis campus' electrical loads, as well as thermal energy to heat and cool the entire campus.  The project resulted in saving nearly 1 million dekatherms annually, the equivalent of the natural gas energy used in more than 10,000 homes for an entire year. 

"By working together as committed environmental stewards through the CenterPoint Energy Conservation Improvement Program, we were able to help the U of M implement improvements that contributed to their carbon reduction goals, while also helping reduce the carbon footprint of the city of Minneapolis through the direct use of natural gas," said Brad Tutunjian, vice president of Gas Operations for CenterPoint Energy. 

Paul Albinson, Key Account Manager for CenterPoint Energy serving the U of M, supported the project through completion and said, "I was happy to assist in this very important project and see this wonderful accomplishment mature for the University of Minnesota and the City of Minneapolis.  This project not only saves energy and money but also contributes to the quality of life for our U of M students with safe and reliable energy resources. Our convenient, money-saving rebates make it easier than ever for businesses to take advantage of our conservation programs and services, thus allowing for more affordable capital investments.  This project is projected to save the university approximately $5.4 million in natural gas energy costs each year."

Tutunjian added, "In the 25-plus-year history of our company's energy-efficiency programs, no entity has achieved more energy savings than the U of M.  We congratulate the U of M's staff and contractors, as well as our employees for their part in reaching this achievement."

The energy saving initiative is part of a multi-year project to install high-efficiency equipment at the U of M to achieve carbon emission reduction goals of 50 percent by 2020 and attain carbon neutrality by 2050.

CenterPoint Energy offers energy efficiency programs to help residential and business customers lower their energy costs. In addition to business rebates for custom energy-saving projects, the company offers rebates for the installation of boilers, other high-efficiency heating systems, water heaters, foodservice equipment and more. Businesses can learn about CenterPoint Energy's rebate and other energy-saving programs and services by visiting CenterPointEnergy.com/businessrebates. 

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 54.1 percent of the common and subordinated units representing limited partner interests 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 150 years. The utility also operates a non-regulated business in Minnesota called Home Service Plus®. For more information, visit the website at CenterPointEnergy.com.

 

 

2018-01-18T06:00:00Z
CenterPoint Energy announces five-year capital investment plan

HoustonJan. 5, 2018 – CenterPoint Energy, Inc. (NYSE: CNP) today announced its capital spending plan for 2018-2022. For the five-year period, the company expects to make capital investments totaling $8.3 billion, representing an 18 percent increase over the company's 2017-2021 capital plan. Growth, reliability and grid hardening, as well as regulatory requirements are driving higher capital investment. The company's five-year capital plan is as follows: 

 

 20182019202020212022
Capital Estimate (in millions)$    1,664$    1,623$    1,689$    1,670$    1,634

 

The 2018-2022 forecast includes the proposed $250 million Freeport transmission project approved by the Electric Reliability Council of Texas on Dec. 12, 2017. The company anticipates the Texas Public Utility Commission will provide a decision on the project in 2019.    

CenterPoint Energy's management will host an earnings call at 11:00 a.m. Eastern time on Thursday, Feb. 22, 2018, and will provide dial-in instructions at a later date. Company executives plan to discuss 2017 earnings results, 2018 earnings guidance, long-term growth drivers and the impact of the Tax Cuts and Jobs Act. 

 

About CenterPoint Energy

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 150 years. For more information, visit the website at www.CenterPointEnergy.com.

Forward Looking Statements

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. You are cautioned not to place undue reliance on any forward-looking statements. 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 capital spending, regulatory actions and timing 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. Factors that could affect actual results include (1) the performance of Enable Midstream Partners, LP (Enable), the amount of cash distributions CenterPoint Energy receives from Enable, Enable's ability to redeem the Series A Preferred Units in certain circumstances and the value of CenterPoint Energy's interest in Enable, and factors that may have a material impact on such performance, cash distributions and value, including factors such as: (A) competitive conditions in the midstream industry, and actions taken by Enable's customers and competitors, including the extent and timing of the entry of additional competition in the markets served by Enable; (B) the timing and extent of changes in the supply of natural gas and associated commodity prices, particularly prices of natural gas and natural gas liquids (NGLs), the competitive effects of the available pipeline capacity in the regions served by Enable, and the effects of geographic and seasonal commodity price differentials, including the effects of these circumstances on re-contracting available capacity on Enable's interstate pipelines; (C) the demand for crude oil, natural gas, NGLs and transportation and storage services; (D) environmental and other governmental regulations, including the availability of drilling permits and the regulation of hydraulic fracturing; (E) recording of non-cash goodwill, long-lived asset or other than temporary impairment charges by or related to Enable; (F) changes in tax status; (G) access to debt and equity capital; and (H) the availability and prices of raw materials and services for current and future construction projects; (2) industrial, commercial and residential growth in CenterPoint Energy's service territories and changes in market demand, including the effects of energy efficiency measures and demographic patterns; (3) timely and appropriate rate actions that allow recovery of costs and a reasonable return on investment; (4) future economic conditions in regional and national markets and their effect on sales, prices and costs; (5) weather variations and other natural phenomena, including the impact of severe weather events on operations and capital; (6) state and federal legislative and regulatory actions or developments affecting various aspects of CenterPoint Energy's and Enable's businesses, including, among others, energy deregulation or re-regulation, pipeline integrity and safety and changes in regulation and legislation pertaining to trade, health care, finance and actions regarding the rates charged by our regulated businesses; (7) tax reform and legislation, including the effects of the Tax Cuts and Jobs Act; (8) CenterPoint Energy's ability to mitigate weather impacts through normalization or rate mechanisms, and the effectiveness of such mechanisms; (9) the timing and extent of changes in commodity prices, particularly natural gas, and the effects of geographic and seasonal commodity price differentials; (10) problems with regulatory approval, construction, implementation of necessary technology or other issues with respect to major capital projects that result in delays or in cost overruns that cannot be recouped in rates; (11) local, state and federal legislative and regulatory actions or developments relating to the environment, including those related to global climate change; (12) the impact of unplanned facility outages; (13) any direct or indirect effects on CenterPoint Energy's facilities, operations and financial condition resulting from terrorism, cyber-attacks, data security breaches or other attempts to disrupt CenterPoint Energy's businesses or the businesses of third parties, or other catastrophic events such as fires, earthquakes, explosions, leaks, floods, droughts, hurricanes, pandemic health events or other occurrences; (14) CenterPoint Energy's ability to invest planned capital and the timely recovery of CenterPoint Energy's investment in capital; (15) CenterPoint Energy's ability to control operation and maintenance costs; (16) actions by credit rating agencies; (17) the sufficiency of CenterPoint Energy's insurance coverage, including availability, cost, coverage and terms; (18) the investment performance of CenterPoint Energy's pension and postretirement benefit plans; (19) commercial bank and financial market conditions, CenterPoint Energy's access to capital, the cost of such capital, and the results of CenterPoint Energy's financing and refinancing efforts, including availability of funds in the debt capital markets; (20) changes in interest rates or rates of inflation; (21) inability of various counterparties to meet their obligations to CenterPoint Energy; (22) non-payment for CenterPoint Energy's services due to financial distress of its customers; (23) the extent and effectiveness of CenterPoint Energy's risk management and hedging activities, including, but not limited to, its financial hedges and weather hedges; (24) timely and appropriate regulatory actions allowing securitization or other recovery of costs associated with Hurricane Harvey and any future hurricanes or natural disasters; (25) CenterPoint Energy's or Enable's potential business strategies and strategic initiatives, including restructurings, joint ventures and acquisitions or dispositions of assets or businesses (including a reduction of CenterPoint Energy's interests in Enable, whether through its election to sell the common units it owns in the public equity markets or otherwise, subject to certain limitations), which CenterPoint Energy cannot assure will be completed or will have the anticipated benefits to it or Enable; (26) acquisition and merger activities involving CenterPoint Energy or its competitors; (27) CenterPoint Energy's or Enable's ability to recruit, effectively transition and retain management and key employees and maintain good labor relations; (28) the ability of GenOn Energy, Inc. (formerly known as RRI Energy, Inc., Reliant Energy and RRI), a wholly-owned subsidiary of NRG Energy, Inc. (NRG), and its subsidiaries, currently the subject of bankruptcy proceedings, to satisfy their obligations to CenterPoint Energy, including indemnity obligations; (29) the outcome of litigation; (30) the ability of retail electric providers (REPs), including REP affiliates of NRG and Vistra Energy Corp., formerly known as TCEH Corp., to satisfy their obligations to CenterPoint Energy and its subsidiaries; (31) changes in technology, particularly with respect to efficient battery storage or the emergence or growth of new, developing or alternative sources of generation; (32) the timing and outcome of any audits, disputes and other proceedings related to taxes; (33) the effective tax rates; (34) the effect of changes in and application of accounting standards and pronouncements; and (35) other factors discussed in CenterPoint Energy's Annual Report on Form 10-K for the fiscal year ended December 31, 2016, as well as in CenterPoint Energy's Quarterly Report on Form 10-Q for the quarter ended March 31, 2017, June 30, 2017, and September 30, 2017, and other reports CenterPoint Energy or its subsidiaries may file from time to time with the Securities and Exchange Commission.

 

 

2018-01-05T06:00:00Z
CenterPoint Energy 2017 earnings expected to increase as a result of Tax Cuts and Jobs Act

HoustonJan. 4, 2018 – CenterPoint Energy, Inc. (NYSE: CNP) today announced expected earnings on a guidance basis for 2017 will incorporate a re-measurement of deferred tax liabilities and a credit to income tax expense. As a result, earnings are expected to exceed the previously provided $1.25 to $1.33 guidance range. Absent these adjustments, earnings are anticipated to be at or near the high end of the $1.25 to $1.33 range. 

CenterPoint Energy's management will host an earnings call at 11:00 a.m. Eastern time on Thursday, Feb. 22, 2018, and will provide dial-in instructions at a later date. Company executives plan to discuss 2017 earnings results, 2018 earnings guidance, long-term growth drivers, and the impact of the Tax Cuts and Jobs Act. 

Earnings Guidance Variables and Assumptions

Guidance for 2017 considers utility operations performance to date and certain significant variables that may impact earnings, such as weather, regulatory and judicial proceedings, throughput, commodity prices, anticipated effective tax rates, and financing activities. In providing this guidance, the company uses a non-GAAP measure of adjusted diluted earnings per share that does not consider other potential impacts, such as changes in accounting standards or unusual items, earnings or losses from the change in the value of the ZENS securities and the related stocks, or the timing effects of mark-to-market accounting in the company's Energy Services business. 

In providing guidance, the company assumes for midstream investments a limited partner ownership interest in Enable Midstream averaging 54.1 percent for 2017 and includes the amortization of CenterPoint Energy's basis difference in Enable Midstream. CenterPoint Energy's guidance takes into account such factors as Enable Midstream's most recent public outlook for 2017 provided on Nov. 1, 2017, and anticipated effective tax rates. The company does not include other potential impacts such as any changes in accounting standards or Enable Midstream's unusual items.

About CenterPoint Energy

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 150 years. For more information, visit the website at www.CenterPointEnergy.com.

Forward Looking Statements

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. You are cautioned not to place undue reliance on any forward-looking statements. 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 earnings guidance and earnings 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. Factors that could affect actual results include (1) the performance of Enable Midstream Partners, LP (Enable), the amount of cash distributions CenterPoint Energy receives from Enable, Enable's ability to redeem the Series A Preferred Units in certain circumstances and the value of CenterPoint Energy's interest in Enable, and factors that may have a material impact on such performance, cash distributions and value, including factors such as: (A) competitive conditions in the midstream industry, and actions taken by Enable's customers and competitors, including the extent and timing of the entry of additional competition in the markets served by Enable; (B) the timing and extent of changes in the supply of natural gas and associated commodity prices, particularly prices of natural gas and natural gas liquids (NGLs), the competitive effects of the available pipeline capacity in the regions served by Enable, and the effects of geographic and seasonal commodity price differentials, including the effects of these circumstances on re-contracting available capacity on Enable's interstate pipelines; (C) the demand for crude oil, natural gas, NGLs and transportation and storage services; (D) environmental and other governmental regulations, including the availability of drilling permits and the regulation of hydraulic fracturing; (E) recording of non-cash goodwill, long-lived asset or other than temporary impairment charges by or related to Enable; (F) changes in tax status; (G) access to debt and equity capital; and (H) the availability and prices of raw materials and services for current and future construction projects; (2) industrial, commercial and residential growth in CenterPoint Energy's service territories and changes in market demand, including the effects of energy efficiency measures and demographic patterns; (3) timely and appropriate rate actions that allow recovery of costs and a reasonable return on investment; (4) future economic conditions in regional and national markets and their effect on sales, prices and costs; (5) weather variations and other natural phenomena, including the impact of severe weather events on operations and capital; (6) state and federal legislative and regulatory actions or developments affecting various aspects of CenterPoint Energy's and Enable's businesses, including, among others, energy deregulation or re-regulation, pipeline integrity and safety and changes in regulation and legislation pertaining to trade, health care, finance and actions regarding the rates charged by our regulated businesses; (7) tax reform and legislation, including the effects of the Tax Cuts and Jobs Act; (8) CenterPoint Energy's ability to mitigate weather impacts through normalization or rate mechanisms, and the effectiveness of such mechanisms; (9) the timing and extent of changes in commodity prices, particularly natural gas, and the effects of geographic and seasonal commodity price differentials; (10) problems with regulatory approval, construction, implementation of necessary technology or other issues with respect to major capital projects that result in delays or in cost overruns that cannot be recouped in rates; (11) local, state and federal legislative and regulatory actions or developments relating to the environment, including those related to global climate change; (12) the impact of unplanned facility outages; (13) any direct or indirect effects on CenterPoint Energy's facilities, operations and financial condition resulting from terrorism, cyber-attacks, data security breaches or other attempts to disrupt CenterPoint Energy's businesses or the businesses of third parties, or other catastrophic events such as fires, earthquakes, explosions, leaks, floods, droughts, hurricanes, pandemic health events or other occurrences; (14) CenterPoint Energy's ability to invest planned capital and the timely recovery of CenterPoint Energy's investment in capital; (15) CenterPoint Energy's ability to control operation and maintenance costs; (16) actions by credit rating agencies; (17) the sufficiency of CenterPoint Energy's insurance coverage, including availability, cost, coverage and terms; (18) the investment performance of CenterPoint Energy's pension and postretirement benefit plans; (19) commercial bank and financial market conditions, CenterPoint Energy's access to capital, the cost of such capital, and the results of CenterPoint Energy's financing and refinancing efforts, including availability of funds in the debt capital markets; (20) changes in interest rates or rates of inflation; (21) inability of various counterparties to meet their obligations to CenterPoint Energy; (22) non-payment for CenterPoint Energy's services due to financial distress of its customers; (23) the extent and effectiveness of CenterPoint Energy's risk management and hedging activities, including, but not limited to, its financial hedges and weather hedges; (24) timely and appropriate regulatory actions allowing securitization or other recovery of costs associated with Hurricane Harvey and any future hurricanes or natural disasters; (25) CenterPoint Energy's or Enable's potential business strategies and strategic initiatives, including restructurings, joint ventures and acquisitions or dispositions of assets or businesses (including a reduction of CenterPoint Energy's interests in Enable, whether through its election to sell the common units it owns in the public equity markets or otherwise, subject to certain limitations), which CenterPoint Energy cannot assure will be completed or will have the anticipated benefits to it or Enable; (26) acquisition and merger activities involving CenterPoint Energy or its competitors; (27) CenterPoint Energy's or Enable's ability to recruit, effectively transition and retain management and key employees and maintain good labor relations; (28) the ability of GenOn Energy, Inc. (formerly known as RRI Energy, Inc., Reliant Energy and RRI), a wholly-owned subsidiary of NRG Energy, Inc. (NRG), and its subsidiaries, currently the subject of bankruptcy proceedings, to satisfy their obligations to CenterPoint Energy, including indemnity obligations; (29) the outcome of litigation; (30) the ability of retail electric providers (REPs), including REP affiliates of NRG and Vistra Energy Corp., formerly known as TCEH Corp., to satisfy their obligations to CenterPoint Energy and its subsidiaries; (31) changes in technology, particularly with respect to efficient battery storage or the emergence or growth of new, developing or alternative sources of generation; (32) the timing and outcome of any audits, disputes and other proceedings related to taxes; (33) the effective tax rates; (34) the effect of changes in and application of accounting standards and pronouncements; and (35) other factors discussed in CenterPoint Energy's Annual Report on Form 10-K for the fiscal year ended December 31, 2016, as well as in CenterPoint Energy's Quarterly Report on Form 10-Q for the quarter ended March 31, 2017, June 30, 2017 and September 30, 2017 and other reports CenterPoint Energy or its subsidiaries may file from time to time with the Securities and Exchange Commission.

Use of Non-GAAP Financial Measures

CenterPoint Energy provides guidance based on adjusted diluted earnings per share, which is a non-GAAP financial measure. 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. CenterPoint Energy's adjusted diluted earnings per share calculation excludes from diluted earnings per share the impact of ZENS and related securities and mark-to-market gains or losses resulting from the company's Energy Services business.  CenterPoint Energy is unable to present a quantitative reconciliation of forward looking or 2017 adjusted diluted earnings per share because changes in the value of ZENS and related securities and mark-to-market gains or losses resulting from the company's Energy Services business are not estimable.

Management evaluates the company's financial performance in part based on adjusted diluted earnings per share.  We believe that presenting this non-GAAP financial measure 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 this non-GAAP financial measure exclude items that Management believes do not most accurately reflect the company's fundamental business performance.  CenterPoint Energy's adjusted diluted earnings per share non-GAAP financial measure should be considered as a supplement to, and not as a substitute for, or superior to, diluted earnings per share, which is the most directly comparable GAAP financial measure.  This non-GAAP financial measure also may be different than non-GAAP financial measures used by other companies.

2018-01-04T06:00:00Z
CenterPoint Energy elects to make a ZENS Reference Share Offer Adjustment

Houston - Jan. 3, 2018 - CenterPoint Energy, Inc. (NYSE: CNP) has elected to make a Reference Share Offer Adjustment and distribute Additional Interest, if any, in accordance with the terms of CenterPoint Energy's 2.0 percent Zero-Premium Exchangeable Subordinated Notes due 2029 (ZENS) rather than electing to increase the Early Exchange Ratio to 100 percent during the pendency of Meredith Corporation's tender offer for all outstanding shares of common stock of Time Inc. 

According to the terms of Meredith's tender offer provided in Meredith's Schedule TO filed with the Securities and Exchange Commission on Dec. 12, 2017, (a) the tender offer is being made solely for cash and expires one minute after 11:59 p.m. (Eastern Time) on January 10, 2018, unless the offer is extended or earlier terminated; and (b) Meredith expects to acquire all remaining shares of common stock of Time Inc. for the same cash price in the subsequent merger of Time Inc. with a subsidiary of Meredith, if Meredith consummates its tender offer.

Distributions of Additional Interest on the ZENS are therefore expected to be made by CenterPoint Energy in connection with the consummation of Meredith's tender offer and the subsequent merger of Time Inc. with a subsidiary of Meredith. CenterPoint Energy's distribution of Additional Interest in connection with the Reference Share Offer is expected to be proportionate to the percentage of eligible shares that are validly tendered by Time Inc. stockholders in Meredith's tender offer. 

As of the date of this press release, the Reference Shares for each ZENS note consist of 0.5 share of Time Warner Inc. common stock, 0.0625 share of Time Inc. common stock and 0.061382 share of Charter Communications, Inc. common stock.  After the tender offer and subsequent merger of Time Inc. with a subsidiary of Meredith, the Reference Shares for each ZENS note will consist of 0.5 share of Time Warner Inc. common stock and 0.061382 share of Charter Communications, Inc. common stock. 

Capitalized terms not otherwise defined in this press release have the meanings given to such terms in the indenture governing the ZENS.           

CenterPoint Energy, 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 54.1 percent of the common units representing limited partner interests 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 150 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, including the consummation of Meredith Corporation's tender offer and subsequent acquisition of Time Inc., and other statements that are not historical facts are forward-looking statements that involve risks and uncertainties including market conditions and other factors discussed in CenterPoint Energy's Form 10-K for the fiscal year ended December 31, 2016, CenterPoint Energy's Form 10-Q for the quarters ended March 31, 2017, June 30, 2017, and September 30, 2017, and CenterPoint Energy's other filings with the Securities and Exchange Commission. Each forward-looking statement contained in this news release speaks only as of the date of the release.

 

 

2018-01-03T06:00:00Z
CenterPoint Energy to send crews to Puerto Rico in early January to help support power restoration efforts

Houston – Dec. 26, 2017 – As part of a nationwide, coordinated power restoration plan involving several investor-owned electric companies, CenterPoint Energy Inc.'s (NYSE: CNP) electric utility is sending 68 employees in early January to accelerate the ongoing power restoration efforts in Puerto Rico. CenterPoint Energy's team will join the more than 1,500 additional restoration crew members from other utilities traveling to the island to support the Puerto Rico Electric Power Authority (PREPA) in the next phase of its restoration process. CenterPoint Energy expects its employees and resources to be in Puerto Rico for approximately six weeks.

"It's now time for utility crews like ours to come in and help with this next phase of Puerto Rico's restoration process and we're proud to be part of our industry's response," said Ed Scott, director of operations for CenterPoint Energy. "While we've participated in many mutual assistance trips, it is unprecedented for us to put our equipment, bucket trucks and electric supplies on a barge that will take two weeks to arrive on the island. We are fully committed to restoring power to Puerto Rico as quickly and as safely as possible."

In late October, the Edison Electric Institute (EEI) and the American Public Power Association (APPA) received a request from PREPA to support power restoration efforts on the island. In early November, PREPA expanded its aid request to include the National Rural Electric Cooperative Association (NRECA).

As a result, a team of electric company storm response experts has been on the ground coordinating closely with local officials, the Federal Emergency Management Agency, and the U.S. Army Corps of Engineers. The team has been focused on assessing damages and formalizing a structure for supporting logistics, equipment needs and supply chain issues, as well as ensuring ongoing restoration efforts are completed safely, effectively and efficiently. Experts have identified basecamps for crews and staging sites for materials that will allow workers and materials to be located closer to restoration areas.

As part of the process, CenterPoint Energy's equipment will depart from the Port of Lake Charles in Louisiana later this week. Additional details will be made available as they are finalized.

The first shift of 68 CenterPoint Energy employees will fly to Puerto Rico on Jan. 13 and start working 16-hour shifts on Jan. 15 after a safety and onboarding process. The company is making plans to send at least one additional shift.

Extensive portions of Puerto Rico's electric grid are located in rugged, mountainous terrain that has little or no road access due to Hurricane Maria's impact. Some customers may not be able to receive power to their homes or businesses because of damage from the storm.

"This restoration mission will be more difficult than any other we have worked on, but our crews are prepared to work long hours safely, facing the logistical and geographical challenges accompanying the historic damage to Puerto Rico's infrastructure," said Scott.

CenterPoint Energy is part of electric utility mutual assistance programs that provide access to thousands of linemen and tree trimmers from around the country to lend a hand during widespread power outage emergencies. Coming to the aid of other utilities is nothing new to CenterPoint Energy employees. Over the years, crews have responded and restored power to hundreds of thousands of customers throughout the country who have been left in the dark following hurricanes, ice storms, tornadoes and severe thunderstorms.

 

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 54.1 percent of the common units representing limited partner interests 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 150 years. For more information, please visit www.CenterPointEnergy.com.

2017-12-26T06:00:00Z
CenterPoint Energy increases quarterly dividend 4 percent to 27.75 cents per shar

Houston – Dec. 13, 2017 - CenterPoint Energy, Inc. (NYSE: CNP) today announced that its Board of Directors declared a regular quarterly cash dividend of $0.2775 per share of common stock, payable on March 8, 2018, to shareholders of record at the close of business on February 15, 2018. This represents approximately a 4 percent increase from the previous quarterly dividend of $0.2675, and if annualized, would equate to $1.11 per share.

"I am pleased that for the thirteenth consecutive year, CenterPoint Energy is raising its dividend," said Scott M. Prochazka, president and chief executive officer of CenterPoint Energy.  "This increase demonstrates a strong commitment to our shareholders and the confidence the board of directors has in our ability to deliver sustainable earnings and cash flow."

CenterPoint Energy will begin utilizing a standardized payment schedule for future dividends with dividends payable on the second Thursday of March, June, September and December to shareholders of record at the close of business on the third Thursday of February, May, August and November.   

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 54.1 percent of the common units representing limited partner interests 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 150 years. For more information, please visit 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 annualized dividends per share, future earnings and cash flow, projected dividend record and payment dates, 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.

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2017-12-13T06:00:00Z

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