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CenterPoint Energy Earns 2024 ENERGY STAR® Partner of the Year Award for Sustained Excellence

Houston – March 28, 2024 — CenterPoint Energy is proud to announce that it has received the 2024 ENERGY STAR Partner of the Year Award for Sustained Excellence from the U.S. Environmental Protection Agency.

“We are proud to receive this honor for the 19th consecutive year," said Rina Harris, CenterPoint Energy's Vice President of Strategic Business Growth and Engagement. “This award highlights the tireless efforts of our teams across our service territory to deliver innovative and effective energy efficiency programs that deliver value to our customers."

Each year, the ENERGY STAR program honors a select group of businesses and organizations that have made outstanding contributions to energy efficiency and the transition to a clean energy economy. ENERGY STAR award winners lead their industries in the production, sale and adoption of energy-efficient products, homes, buildings, services and strategies. These efforts have saved more than 5 trillion kilowatt-hours of electricity over the past 30 years.

“I congratulate this year's ENERGY STAR award winners for their innovation and leadership, in delivering cost-effective energy efficient solutions that create jobs, address climate change, and contribute to a healthier environment for all," said EPA Administrator Michael S. Regan.

Winners are selected from a network of thousands of ENERGY STAR partners. For a complete list of 2024 winners and more information about ENERGY STAR's awards program, visit energystar.gov/awardwinners.

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 December 31, 2023, the company owned approximately $39 billion in assets. With approximately 9,000 employees, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, visit CenterPointEnergy.com.

About ENERGY STAR

ENERGY STAR® is the government-backed symbol for energy efficiency, providing simple, credible, and unbiased information that consumers and businesses rely on to make well-informed decisions. Since 1992, ENERGY STAR and its partners helped American families and businesses avoid more than $500 billion in energy costs and achieve more than 4 billion metric tons of greenhouse gas reductions. More background information about ENERGY STAR's impacts can be found at www.energystar.gov/impacts

2024-03-28T05:00:00Z
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CenterPoint Energy completes natural gas service restoration in Ohio

Dayton, Ohio – March 25, 2024 – Following a devastating F3 tornado that severely impacted customers in Lakeview and Russells Point, Ohio, CenterPoint Energy has restored natural gas service to all customers who have provided the company access to perform safety checks and relight pilots.

Customers who received a door hanger and are still without service can call the phone number listed on the door tag. The relighting process requires CenterPoint Energy employees to have access to each location to light pilots and verify it is safe to resume service.

CenterPoint Energy recognizes the significant impact on customers whose homes have been severely damaged or destroyed. The company continues to work closely with local emergency services to provide support and timely updates. Additionally, the CenterPoint Energy Foundation has donated $50,000 to the United Way of Logan County Indian Lake Tornado Relief Fund. The utility remains dedicated to supporting the community throughout the restoration effort.

If you smell natural gas, leave immediately on foot. Once you are safely away from the area, report the possible natural gas leak to 911 and to CenterPoint Energy at 1-800-227-1376.

For updates, follow CenterPoint Energy on X, formerly known as Twitter: @CenterPoint and Facebook: Facebook.com/CenterPointEnergy.

About CenterPoint Energy, Inc.
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, 2023, the company owned approximately $39 billion in assets. With approximately 9,000 employees, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, visit CenterPointEnergy.com.



2024-03-25T05:00:00Z
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CenterPoint Energy begins relighting process for impacted customers in Lakeview and Russells Point, Ohio

Dayton, Ohio – March 21, 2024 – Following the devastating impact of an F3 tornado and severe weather last week, CenterPoint Energy has begun the relighting process for customers in Lakeview and Russells Point, Ohio.

"Last week, we temporarily shut off natural gas service at a single delivery point ahead of Orchard Island and Wolf Island to allow emergency personnel and electric utility crews to perform their essential work," said Ashley Babcock, Vice President of Gas Operations, Indiana and Ohio. “Additionally, we completed the process of turning off each customer's natural gas meter. Our service technicians performed a series of safety checks to verify that it is safe to restore natural gas service. With that done, and with safety as our top priority, we are moving forward with the relighting process to restore service to our customers as soon as possible."

At this time, no action is required on the part of the customer. If an adult over the age of 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. The utility expects most service to be restored by the end of the day.

CenterPoint Energy recognizes the significant impact on customers whose homes have been severely damaged or destroyed. The company continues to work closely with local emergency services to provide support and timely updates. Additionally, the CenterPoint Energy Foundation has donated $50,000 to the United Way of Logan County Indian Lake Tornado Relief Fund. The utility remains dedicated to supporting the community throughout the restoration effort.

If you smell natural gas, leave immediately on foot. Once you are safely away from the area, report the possible natural gas leak to 911 and to CenterPoint Energy at 1-800-227-1376.

For updates, follow CenterPoint Energy on X, formerly known as Twitter: @CenterPoint and Facebook: Facebook.com/CenterPointEnergy.

About CenterPoint Energy, Inc.
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, 2023, the company owned approximately $39 billion in assets. With approximately 9,000 employees, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, visit CenterPointEnergy.com.

 

2024-03-21T05:00:00Z
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CenterPoint Energy initiates natural gas service restoration in Ohio

​​Dayton, Ohio. March 19, 2024 In response to the devastating impact of an F3 tornado and severe weather last Thursday, CenterPoint Energy is actively working to restore natural gas service in Lakeview and Russells Point, Ohio. This effort follows a service interruption that has affected more than 460 customers.

Natural gas service to the Orchard Island and Wolf Island areas has been temporarily shut off. Following essential work over the weekend by emergency personnel and electric utility crews, CenterPoint Energy teams have isolated the natural gas system and are assessing which areas can be quickly restored. The current estimate for completing the restoration of service is by March 27, 2024.

“Safety is our number-one priority as we work to restore natural gas service," said Ashley Babcock, Vice President of Gas Operations, Indiana and Ohio. “We appreciate our customers' patience as our teams work to ensure that service is restored as quickly as possible."

More than 70 company employees, contractors and mutual assistance crews have been called to help support the restoration process.

Qualified service technicians are in the process of visiting customers' homes or businesses to turn off the service at the meter before gas can be systematically restored. Following this, technicians will conduct a safety check before turning the natural gas service back on for each customer. If an adult over 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.

CenterPoint Energy urges customers for safety reasons not to turn any valves or tamper with the natural gas meter. Opening or turning any valves could allow air to enter the natural gas lines, which would hinder the restoration process. Additionally, customers are advised to exercise caution when clearing debris around their natural gas meter and above-ground piping.

CenterPoint Energy recognizes the significant impact on customers whose homes have been severely damaged or destroyed. The company is coordinating closely with local emergency services to provide support and timely updates. Additionally, the CenterPoint Energy Foundation has donated $50,000 to the United Way of Logan County Indian Lake Tornado Relief Fund. The utility remains dedicated to supporting the community throughout the restoration effort.

If you smell natural gas, leave immediately on foot. Once you are safely away from the area, report the possible natural gas leak to 911 and to CenterPoint Energy at 1-800-227-1376.

For updates, follow CenterPoint Energy on X, formerly known as Twitter: @CenterPoint and Facebook: Facebook.com/CenterPointEnergy.

About CenterPoint Energy, Inc.
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, 2023, the company owned approximately $39 billion in assets. With approximately 9,000 employees, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, visit CenterPointEnergy.com. ​


2024-03-19T05:00:00Z
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CenterPoint Energy Announces 2024 Annual Meeting of Shareholders

Meeting to be held Friday, April 26 at 9 a.m. CT

HOUSTON, March 15, 2024 - CenterPoint Energy, Inc. (NYSE: CNP) today announced its 2024 Annual Meeting of Shareholders will be held on Friday, April 26, 2024, at 9 a.m. CT in the CenterPoint Energy Tower auditorium, 1111 Louisiana Street, Houston, Texas. Shareholders who hold shares of CenterPoint Energy Common Stock at the close of business on March 1, 2024, will receive notice of the meeting and will be eligible to vote.

About CenterPoint Energy, Inc.
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, 2023, the company owned approximately $39 billion in assets. With approximately 9,000 employees, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, visit CenterPointEnergy.com.

For more information contact
Media:
Media Relations
Media.Relations@centerpointenergy.com

Investors:
Jackie Richert/Ben Vallejo
Phone 713.207.6500

SOURCE CenterPoint Energy, Inc

2024-03-16T05:00:00Z
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CenterPoint Energy Announces 2024 Annual Meeting of Shareholders

Houston – March 15, 2024 – CenterPoint Energy, Inc. (NYSE: CNP) today announced its 2024 Annual Meeting of Shareholders will be held on Friday, April 26, 2024, at 9 a.m. CT in the CenterPoint Energy Tower auditorium, 1111 Louisiana Street, Houston, Texas. Shareholders who hold shares of CenterPoint Energy Common Stock at the close of business on March 1, 2024, will receive notice of the meeting and will be eligible to vote.

About CenterPoint Energy, Inc.

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, 2023, the company owned approximately $39 billion in assets. With approximately 9,000 employees, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, visit CenterPointEnergy.com.​

2024-03-15T05:00:00Z
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CenterPoint Energy urges customers to review payment options as Indiana winter moratorium ends

Evansville, Ind. March 12, 2024 – As the winter heating season draws to a close, CenterPoint Energy is reminding customers that the State of Indiana's winter moratorium ends on March 15. The utility is taking proactive steps to support customers during this time and encourages them to contact us to discuss options.

The Indiana winter moratorium protects customers who have applied for support through income-qualified programs, such as the Low Income Home Energy Assistance Program (LIHEAP), from having their heating services interrupted. CenterPoint Energy has implemented a number of programs to provide continued support beyond the moratorium's end.

“As the winter moratorium comes to an end, we are committed to raising awareness and providing necessary support," said Ashley Babcock, Vice President of Gas Operations, Indiana and Ohio. “Customers concerned about potential service disconnection or in need of bill payment assistance are encouraged to contact CenterPoint Energy immediately to explore additional support options that are available."

Available assistance programs include:

  • Keep Service On: A crisis assistance program, Keep Service On, is available to income-eligible customers — those earning up to 70% state median income — who heat with natural gas. The program can provide up to $200 per customer. It will remain available until funds are depleted. Customers should call 1-800-227-1376 to check eligibility and apply.
  • Special Payment Arrangement: CenterPoint Energy will offer a special payment arrangement to customers who received energy assistance or previously participated in the Fall Turn On or Spring Keep Service On programs. This applies to customers who have previously not followed payment arrangements. A larger down payment is required to establish the payment arrangement, which can be set up from now until the end of June. The balance may be extended through September 2024. Customers should call 1-800-227-1376 to set up the arrangement.

Additional payment assistance options offered by CenterPoint Energy and other agencies include:

  • Standard Payment Arrangement: Customers who are having difficulty paying bills in full can request a payment arrangement to fulfill the obligation in smaller increments over a set period of time. Eligible customers can request a payment arrangement by calling 1-800-227-1376.
  • Energy Assistance Program (EAP): Contact the local Indiana Community Action Agency, which administers 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 service and/or electric service.
  • Universal Service Program (USP): A program for Indiana natural gas customers, the USP provides a monthly discount on residential gas charges during the heating season. By enrolling in EAP, customers are automatically enrolled in USP. The monthly discount of 15 to 32 percent applies from December through May 31.
  • Energy Efficiency Resources: CenterPoint Energy has a wide offering of energy efficiency programs for customers, which can be found at CenterPointEnergy.com/SmartSavings. Customers are also encouraged to apply for all residential (home ownership or rental) weatherization programs, including programs available through the local service provider. These programs assist with reducing energy use in the home, which can help lower the bill.

For additional information on available resources, visit CenterPointEnergy.com/IndianaBilling

2024-03-14T05:00:00Z
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CenterPoint Energy files request to recover investments in electric infrastructure to support system safety, reliability and resiliency

Houston – March 6, 2024 – CenterPoint Energy Houston Electric (CenterPoint Energy) today filed an application with the Public Utility Commission of Texas (PUCT) and municipal regulatory authorities requesting an adjustment to its base rates and charges through a process known as a base rate case.

  • Significant capital investments support continued strengthening of electric system across Greater Houston area for the benefit of customers and communities
  • Customers' rates have remained relatively flat over the past decade due to cost management and sustained customer growth
  • Request is expected to result in an average increase of less than 1% on a customer's total bill

CenterPoint Energy's service territory covers approximately 5,000-square-miles across Houston and surrounding communities and includes nearly 60,000 circuit miles of transmission and distribution lines, serving approximately 2.8 million metered customers across its electric system. The 2.8 million represents nearly 300,000 more metered customers than when the company filed its most recent rate case in 2019.

While the Greater Houston area comprises about 2% of the geographic area of Texas, CenterPoint Energy's metered customers account for approximately 25% of the total electric load in the Electric Reliability Council of Texas (ERCOT) region. This area includes the City of Houston — the largest city in Texas and the fourth largest in the country — and is home to the largest medical and petrochemical complexes in the world, as well as one of the largest container ports in the nation.

To help meet the region's ever-increasing electric demands, CenterPoint Energy has invested more than $6 billion in its electric grid since the 2019 rate case. Key benefits to customers from these investments have included:  ​

  • Nearly 2,200 miles of new distribution lines and more than 100 miles of new transmission lines installed to meet the needs of a strong economy;
  • Six new distribution substations and two new transmission substations constructed to support regional growth and increased load needs;
  • 25 new generation resources interconnected to the grid;
  • 11 substations elevated to aid in flood mitigation and improve the resiliency of CenterPoint Energy's system; and
  • 437 Intelligent Grid Switching Devices installed to help prevent and reduce sustained customer outages, resulting in more than 80 million minutes of customer outages avoided in 2023.

​In addition to investments that support the continued growth and development of the Greater Houston area, the company has also focused on maintaining stable rates below the historic level of inflation for the average residential customer. Today's proposal, factoring in all of CenterPoint Energy's bill components, will result in a 0.7% increase for the average residential customer's total bill.

“The portion of customer electric bills attributable to CenterPoint Energy was an average of $49 a month a decade ago, and it remains about $49 a month on average today, despite billions of dollars in investments in our system over that period," said Jason Ryan, CenterPoint Energy's Executive Vice President of Regulatory Services and Government Affairs. “Being able to continue to keep rates relatively flat even with the rate change proposed today reflects the hard work we are doing to maintain affordable service for our customers, while we make material investments to improve system safety, reliability and resiliency."

CenterPoint Energy is asking the PUCT and municipal regulatory authorities to review its investments that have not already been reviewed through other rate adjustment mechanisms, consider the value customers are receiving, and approve the proposed rates. The process is expected to take several months to complete, with a decision anticipated no earlier than September of 2024.

“We have been serving the Houston area and surrounding communities for nearly 160 years, and during that time we have strived to build a proven track record of doing our work as safely, responsibly and cost-efficiently as possible," said Lynnae Wilson, CenterPoint Energy's Senior Vice President, Electric Business. “As our region continues to experience strong economic growth, industrial and business expansion, and population increases, it is imperative that we are equipped to continue meeting the demands of our customers and the electric grid. The approval of the request will enable CenterPoint Energy's continued investment in our transmission and distribution electric system to help support our customers' long-term energy needs, support regional growth and increase electrification."

More information about the rate case can be found at CenterPointEnergy.com/EnergyForTheFuture.

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 December 31, 2023, the company owned approximately $39 billion in assets. With approximately 9,000 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 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, include future legislative and regulatory filings, actions and decisions, including the timing and impact of such actions and decisions, the amount and timing of, and expected benefits derived from, proposed investments, the expected impact and timing of the proposed rate adjustments on customer bills, the performance and expected benefits of various projects, the projected impact to customers, 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, but are not limited to, risks and uncertainties relating to: (1) CenterPoint's business strategies and strategic initiatives, restructurings, joint ventures and acquisitions or dispositions of assets or businesses, including the announced sale of our Natural Gas businesses in Louisiana and Mississippi, and the completed sale of Energy Systems Group, LLC, which we cannot assure you will have the anticipated benefits to us; (2) industrial, commercial and residential growth in CenterPoint's service territories and changes in market demand; (3) CenterPoint's ability to fund and invest planned capital, and the timely recovery of its investments; (4) financial market and general economic conditions, including access to debt and equity capital and inflation, interest rates and instability of banking institutions, and their 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 and the February 2021 winter storm event; (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's net zero and carbon emissions reduction goals; (9) the impact of pandemics, including the COVID-19 pandemic; (10) the recording of impairment charges; (11) weather variations and CenterPoint's ability to mitigate weather impacts, including the approval and timing of securitization issuances; (12) changes in business plans; (13) CenterPoint'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's Annual Report on Form 10-K for the fiscal year ended December 31, 2023, including in the “Risk Factors" and “Cautionary Statement Regarding Forward-Looking Information" sections of such reports, and other reports CenterPoint or its subsidiaries may file from time to time with the Securities and Exchange Commission.

2024-03-06T06:00:00Z
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CenterPoint Energy reports strong Q4 and full-year 2023 results; increases capital investment plan; reiterates 2024 guidance

Houston – February 20, 2024 - CenterPoint Energy, Inc. (NYSE: CNP) or “CenterPoint" today reported income available to common shareholders of $192 million, or $0.30 per diluted share on a GAAP basis for the fourth quarter of 2023, compared to $0.19 per diluted share in the previous comparable period of 2022, and $867 million, or $1.37 per diluted share for the year ended December 31, 2023, compared to $1,008 million, or $1.59 per diluted share for the year ended December 31, 2022.

  • Reported Q4 2023 earnings of $0.30 per diluted share and full year 2023 earnings of $1.37 per diluted share on a GAAP basis
  • Non-GAAP earnings per diluted share (“non-GAAP EPS") was $0.32 for Q4 2023 and $1.50 for full year 2023; 9% increase over 2022 full year non-GAAP EPS of $1.38
     
  • Increased the 10-year capital plan through 2030 to $44.5 billion, a $600 million increase through 2030 which includes $100 million already deployed in 2023 with the remaining $500 million to be invested over the remainder of the decade
     
  • Reiterated 2024 non-GAAP EPS guidance range of $1.61-$1.63, which represents 8% growth over full-year 2023 non-GAAP EPS and further maintains non-GAAP EPS growth targets of 8% for 2024 and the mid-to-high end of 6%-8% annually thereafter through 2030​

Non-GAAP EPS for the fourth quarter 2023 was $0.32, a 14% increase to the comparable quarter of 2022.  These strong fourth quarter results were primarily driven by growth and regulatory recovery, which contributed $0.05 per share of favorability, and a one-time tax benefit, which, combined with other favorable earnings drivers, contributed another $0.06 per share when compared to the fourth quarter of 2022.  These favorable drivers were partially offset by an unfavorable variance of $0.05 per share attributable to increased interest expense over the comparable quarter of 2022.

“I am excited and humbled to have the privilege to lead CenterPoint into its next chapter," said Jason Wells, CEO of CenterPoint. “The last few years have proven that our strategy is truly one of the best in the industry and that we have the ability to execute it at a high-level.   These latest quarter and full year 2023 results exemplify this point as we delivered on a third consecutive year of 9% non-GAAP EPS growth and delivered premium results for all stakeholders despite the ongoing headwinds our industry has faced."

“With our announced LDC asset sale this morning, we've now entered into a fourth transaction since Analyst Day 2021, for the benefit of efficiently recycling capital into states in which we either have combined electric and gas operations or a larger presence. We believe this portfolio optimization will allow us to further enhance our ability to continue executing our industry-leading long-term growth strategy for many years to come," said Wells.  

Earnings Outlook

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 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'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'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'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.

2022 and 2023 non-GAAP EPS; 2024 non-GAAP EPS guidance range

  • 2022 non-GAAP EPS excluded:
    • Earnings or losses from the change in value of ZENS and related securities; and
    • ​Gain and impact, including related expenses, associated with Arkansas and Oklahoma gas LDC sales; and
    • 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. 
  • 2023 non-GAAP EPS and 2024 non-GAAP EPS guidance excludes:
    • Earnings or losses from the change in value of ZENS and related securities; and
    • ​Gain and impact, including related expenses, associated with mergers and divestitures, such as the divestiture of Energy Systems Group, LLC and Louisiana and Mississippi gas LDC sales.

​​In providing 2022 and 2023 non-GAAP EPS and 2024 non-GAAP EPS guidance, CenterPoint 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 2024 non-GAAP EPS guidance ranges also consider 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 2024 non-GAAP EPS guidance ranges may not be met, or the projected annual non-GAAP EPS growth rate may change. CenterPoint is unable to present a quantitative reconciliation of forward-looking non-GAAP diluted earnings per share without unreasonable effort because changes in the value of CenterPoint Energy's 2.0% Zero-Premium Exchangeable Subordinated Notes due 2029 (“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-K for CenterPoint Energy, Inc.

Today, CenterPoint Energy, Inc. filed with the Securities and Exchange Commission (SEC) its Annual Report on Form 10-K for the fiscal year ended December 31, 2023. 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's management will host an earnings conference call on February 20, 2024, 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 December 31, 2023, the company owned approximately $39 billion in assets. With approximately 9,000 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 incremental capital opportunities, deployment of capital, renewables projects, and financing of such projects), the timing of and projections for upcoming rate cases for CenterPoint and its subsidiaries, the timing and extent of CenterPoint's recovery, including with regards to its generation transition plans and projects, mobile generation spend, projects included in CenterPoint's Natural Gas Innovation Plan, and projects included under its 10-year capital plan, the extent of anticipated benefits from new legislation, the pending sale of CenterPoint's Natural Gas businesses in Louisiana and Mississippi, future earnings and guidance, including long-term growth rate, customer charges, operations and maintenance expense reductions, financing plans (including the timing of any future equity issuances, securitization, credit metrics and parent level debt), the timing and anticipated benefits of our generation transition plan, including our exit from coal and our 10-year capital plan, the ZENS and impacts of the maturity of ZENS, tax planning opportunities, 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, expected customer growth, sustainability strategy, including our net zero and carbon emissions reduction goals, 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's business strategies and strategic initiatives, restructurings, joint ventures and acquisitions or dispositions of assets or businesses, including the announced sale of our Natural Gas businesses in Louisiana and Mississippi, and the completed sale of Energy Systems Group, LLC, which we cannot assure you will have the anticipated benefits to us; (2) industrial, commercial and residential growth in CenterPoint's service territories and changes in market demand; (3) CenterPoint's ability to fund and invest planned capital, and the timely recovery of its investments; (4) financial market and general economic conditions, including access to debt and equity capital and inflation, interest rates and instability of banking institutions, and their 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 and the February 2021 winter storm event; (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's net zero and carbon emissions reduction goals; (9) the impact of pandemics, including the COVID-19 pandemic; (10) the recording of impairment charges; (11) weather variations and CenterPoint's ability to mitigate weather impacts, including the approval and timing of securitization issuances; (12) changes in business plans; (13) CenterPoint'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's Annual Report on Form 10-K for the fiscal year ended December 31, 2023, including in the “Risk Factors" and “Cautionary Statement Regarding Forward-Looking Information" sections of such reports, and other reports CenterPoint or its subsidiaries may file from time to time with the Securities and Exchange Commission.

2024-02-20T06:00:00Z
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CenterPoint Energy announces sale of its Louisiana and Mississippi natural gas assets to Bernhard Capital Partners for $1.2 billion

Houston – Feb. 20, 2024 – CenterPoint Energy, Inc. (NYSE: CNP) (“CenterPoint") today announced the sale of its Louisiana and Mississippi natural gas LDC businesses to Bernhard Capital Partners, a services and infrastructure-focused private equity management firm, for $1.2 billion. The assets include approximately 12,000 miles of main pipeline in Louisiana and Mississippi serving approximately 380,000 metered customers. CenterPoint's LDCs are the second largest natural gas LDCs in both Louisiana and Mississippi by customer accounts, with a combined workforce of approximately 550 employees.

  • Transaction valuation represents approximately 32 multiple of 2023 Louisiana and Mississippi Local Distribution (LDC) earnings
  • Sale will enable company to efficiently recycle approximately $1 billion in anticipated after-tax cash proceeds to support industry-leading capital plan
  • Transaction also enables CenterPoint to reprioritize future capital investments related to those assets of approximately $1 billion elsewhere across its regulated Electric and Natural Gas utility footprint
  • Closing expected toward the end of first quarter of 2025
  • Sale will not change company's targeted utility non-GAAP EPS growth rate of 8% in 2024, and the mid-to-high end of 6%-8% annually from 2025 through 2030
  • Company reiterates long-term confidence in and commitment to its Natural Gas Business ​

The sales price of $1.2 billion represents approximately 32 multiple of 2023 Louisiana and Mississippi LDC earnings. The transaction is anticipated to close toward the end of first quarter of 2025, subject to customary closing conditions, including Hart-Scott-Rodino antitrust clearance and state regulatory approvals.

“I would like to thank our Louisiana and Mississippi LDC employees, as well as the team members who support these businesses, for their focus on safety, performance, and results. Together, they are our customers' trusted energy partner in these regions," said Jason Wells, President and Chief Executive Officer of CenterPoint. “The transaction will allow us to optimize our portfolio of utility operations and efficiently recycle approximately $1 billion in after-tax cash proceeds into our service territory where we have both electric and natural gas operations or where we have a larger presence at a valuation that is more efficient than issuing common equity. The sale will also enable us to redeploy approximately $1 billion of future capital expenditures intended for Louisiana and Mississippi into jurisdictions with less regulatory lag thereby enhancing the ongoing earnings power of the company."

Wells added, “This will mark the fourth time over the past few years in which we have recycled sales proceeds and reinvested them in our regulated businesses for the benefit of all stakeholders. The transaction, along with the reinvested capital, will not change our targeted non-GAAP EPS growth rate of 8% in 2024, and the mid-to-high end of 6%-8% annually from 2025 through 2030. The efficiency of this transaction and portfolio optimization will further enhance our ability to continue executing our industry-leading long-term growth strategy for years to come.

“Our Natural Gas Business is core to our company and together with our Electric Business will continue to be a cornerstone of our long-term growth strategy," said Wells. “From an operational and strategic perspective, we remain confident in and committed to our regulated natural gas utilities in Texas, Indiana, Minnesota, and Ohio where we have significant footprints and rate bases." CenterPoint's Louisiana and Mississippi LDCs represent less than 4% of the company's overall rate base.

Morgan Stanley & Co. LLC and Wells Fargo Securities, LLC served as CenterPoint's financial advisors. Latham and Watkins LLP, Phelps Dunbar LLP, and Brunini, Grantham, Grower & Hewes, PLLC served as CenterPoint's legal advisors.

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 September 30, 2023, the company owned approximately $39 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 www.CenterPointEnergy.com.

About Bernhard Capital Partners
Bernhard Capital Partners is a services and infrastructure-focused private equity management firm established in 2013. Bernhard Capital Partners has deployed capital in four funds across several strategies and has approximately $3.4 billion of gross assets under management. Bernhard Capital Partners seeks to create sustainable value by leveraging its experience in acquiring, operating and growing services and infrastructure businesses. For more information, visit www.BernhardCapital.com.

Use of Non-GAAP Measures
As included in this news release, CenterPoint 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'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'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. CenterPoint'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.

2024 non-GAAP EPS guidance range

  • 2024 non-GAAP EPS guidance excludes:
    • Earnings or losses from the change in value of ZENS and related securities; and
    • Gain and impact, including related expenses, associated with mergers and divestitures, such as the Louisiana and Mississippi gas LDC sales.

 
In providing 2024 non-GAAP EPS guidance, CenterPoint 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 2024 non-GAAP EPS guidance ranges also consider 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 2024 non-GAAP EPS guidance ranges may not be met, or the projected annual non-GAAP EPS growth rate may change. CenterPoint is unable to present a quantitative reconciliation of forward-looking non-GAAP diluted earnings per share without unreasonable effort 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.

Forward-Looking Statements
This news release may contain “forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical fact included in this news release are forward-looking statements made in good faith by us and are intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. When used in this Current Report, 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. Forward-looking statements include, but are not limited to, the timing of the closing of the Transaction. Each forward-looking statement contained in this news release speaks only as of the date of this report. 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 timing of the expiration or termination of the Hart-Scott-Rodino waiting period and the receipt of any consents, waivers or approvals required to be obtained pursuant to applicable antitrust laws, (2) the occurrence of any event, change or other circumstances that could give rise to the termination of the Transaction or could otherwise cause the failure of the Transaction to close, (3) the risk that a condition to the closing of the Transaction may not be satisfied, including obtaining required regulatory approvals, (4) the outcome of any legal proceedings, regulatory proceedings or enforcement matters that may be instituted relating to the Transaction, (5) the timing to consummate the Transaction, (6) disruption from the Transaction making it more difficult to maintain relationships with customers, employees, regulators or suppliers, (7) the diversion of management time and attention on the Transaction and (8) other factors discussed in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2023 and other reports the Company may file from time to time with the Securities and Exchange Commission.

2024-02-20T06:00:00Z