Evansville, Ind. – Sept. 10, 2021 - CenterPoint Energy, Inc.'s (NYSE: CNP) Indiana-based natural gas business, CenterPoint Energy Indiana North, has filed a request with the Indiana Utility Regulatory Commission (IURC) to continue its natural gas infrastructure improvements during the next five years to comply with federal pipeline safety rules and to ensure the company's 625,000 natural gas customers in north central, central and southeastern Indiana continue to receive safe, reliable gas service for decades to come.
Previous policy set by the Indiana Legislature allows utilities to recover federal-mandated costs as well as submit their forward-looking capital investment plans to the IURC for consideration. In 2013, the company filed an initial seven-year gas system modernization plan with the IURC to recover planned capital expenditures through 2020.
"We continue the investments in our natural gas infrastructure to ensure we maintain a safe, reliable system," said Richard Leger, Vice President of Natural Gas Distribution, Indiana and Ohio. "CenterPoint Energy remains committed to a continued focus on meeting federal requirements and adhering to safety standards."
The natural gas system improvements are a continuation of efforts over the last seven years to upgrade and maintain portions of CenterPoint Energy's 13,000-mile network of distribution mains and transmission pipelines through its pipeline replacement and transmission line integrity management programs. The work will primarily consist of replacing 341 miles of bare steel and cast-iron distribution mains with new mains, most of which will be plastic, as well as inspecting and upgrading transmission pipelines. Together, these efforts will call for an estimated $1.2 billion in investments.
If the plan is approved as filed, customer bills will not reflect these investments until 2023. Additional improvements will adjust bills modestly in subsequent years as the infrastructure projects are completed.
"While these infrastructure enhancements are critical to ensuring adherence to federal requirements, affordability of our natural gas service remains top of mind," added Leger. "As these improvements are completed, we'll continue to operate a safe and reliable delivery system with minimal impact to customer bills."
Over the last seven years, pipeline replacement work has been ongoing in more than 50 cities that have bare steel and cast-iron mains in the company's north central, central and southeastern Indiana service territory. These include Albany, Alexandria, Anderson, Bedford, Bloomington, Brownsburg, Cambridge City, Chesterfield, Clarksville, Cloverdale, Columbus, Crawfordsville, Dana, Danville, Dublin, Eaton, Elwood, Fairmount, Fortville, Frankfort, Gas City, Gaston, Greencastle, Greenfield, Greensburg, Hagerstown, Harrodsburg, Hartford City, Huntington, Jeffersonville, Jonesboro, Knightstown, Lafayette, Lebanon, Madison, Marion, Martinsville, Milton, Mitchell, Muncie, New Albany, New Castle, Noblesville, Oolitic, Parker City, Pendleton, Richmond, Rockville, Rushville, Seymour, Shelbyville, Shideler, Terre Haute, Tipton, West Lafayette and Zionsville. Pipeline replacement in additional cities throughout the service territory is still to come in future years.
Since 2008, more than 700 miles of gas mains have been replaced, which has led to a reduction in leak calls and a reduction in natural gas emissions from CenterPoint Energy's distribution system.
For an overview of CenterPoint Energy's gas system modernization plan outlining the infrastructure upgrades, visit www.centerpointenergy.com/pipelinereplacement. Programs and services are operated under the brand CenterPoint Energy by Indiana Gas Company, Inc. d/b/a CenterPoint Energy Indiana North.
CenterPoint Energy's gas territory covering north central, central and southeastern Indiana delivers natural gas to approximately 625,000 customers in portions of Adams, Allen, Bartholomew, Blackford, Boone, Brown, Clark, Clay, Clinton, Daviess, Decatur, Delaware, Fayette, Floyd, Fountain, Grant, Greene, Hamilton, Hancock, Hendricks, Henry, Howard, Huntington, Jackson, Jay, Jefferson, Johnson, Lawrence, Madison, Marion, Martin, Miami, Monroe, Montgomery, Morgan, Orange, Owen, Parke, Putnam, Randolph, Rush, Shelby, Switzerland, Tippecanoe, Tipton, Vermillion, Vigo, Wabash, Warren, Wayne, Wells and White counties. Programs and services are operated under the brand CenterPoint Energy by Indiana Gas Company, Inc. d/b/a CenterPoint Energy Indiana North.
Forward Looking Statement
This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this news release, the words "anticipate," "believe," "continue," "could," "estimate," "expect," "forecast," "goal," "intend," "may," "objective," "plan," "potential," "predict," "projection," "should," "target," "will" or other similar words are intended to identify forward-looking statements. These forward-looking statements are based upon assumptions of management which are believed to be reasonable at the time made and are subject to significant risks and uncertainties. Actual events and results may differ materially from those expressed or implied by these forward-looking statements. Any statements in this news release regarding future events, such as CenterPoint Energy's plans to continue its natural gas infrastructure improvements and timing thereof, the IURC's approval process, including the proposed approval of the natural gas infrastructure improvements and timing thereof, the estimated cost of the improvements, anticipated cost savings and other benefits to customers, additional regulatory requests in connection with CenterPoint Energy's infrastructure improvement plan and timing thereof, and any other statements that are not historical facts are forward-looking statements. Each forward-looking statement contained in this news release speaks only as of the date of this release. Important factors that could cause actual results to differ materially from those indicated by the provided forward-looking information include risks and uncertainties relating to: (1) the impact of COVID-19; (2) financial market conditions; (3) general economic conditions; (4) the timing and impact of future regulatory and legislative decisions; (5) effects of competition; (6) weather variations; (7) changes in business plans; and (8) other factors, risks and uncertainties discussed in CenterPoint Energy's Annual Report on Form 10-K for the fiscal year ended December 31, 2020, CenterPoint Energy's Quarterly Reports on Form 10-Q for the quarters ended March 31, 2021 and June 30, 2021 and other reports CenterPoint Energy or its subsidiaries may file from time to time with the Securities and Exchange Commission.
About CenterPoint Energy
As the only investor-owned electric and gas utility based in Texas, CenterPoint Energy, Inc. (NYSE: CNP) is an energy delivery company with electric transmission and distribution, power generation and natural gas distribution operations that serve more than 7 million metered customers in Arkansas, Indiana, Louisiana, Minnesota, Mississippi, Ohio, Oklahoma and Texas. As of June 30, 2021, the company owned approximately $36 billion in assets and also owned 53.7 percent of the common units representing limited partner interests in Enable Midstream Partners, LP, a publicly traded master limited partnership that owns, operates and develops strategically located natural gas and crude oil infrastructure assets. With approximately 9,500 employees, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, visit CenterPointEnergy.com.