CenterPoint Energy provides updates to Texas natural gas customers concerning service during the Coronavirus situation

Houston – March 25, 2020 – CenterPoint Energy continues to be committed to providing its customers throughout its service territory with safe and reliable service during the current Coronavirus situation. During this challenging time, CenterPoint Energy is committed to serving its customers and keeping them informed as the situation continues to evolve.

CenterPoint Energy's natural gas crews will continue to provide service by responding to calls and completing work orders. If you see CenterPoint Energy crews performing work, please avoid approaching them and continue to practice social distancing.

CenterPoint Energy will continue to support those natural gas customers who may need payment assistance, arrangements or extensions during the Coronavirus situation. In addition, the company has temporarily suspended natural gas service disconnections for nonpayment. There have been reports of scams following the COVID-19 outbreak, so customers are reminded that CenterPoint Energy would never call and demand payment over the phone or by prepaid debit card to avoid disconnection. Natural gas customers who would like to discuss payment options should call 1-800-752-8036 or visit the company's website.

"We are committed to the safety and well-being of our customers, employees, contractors and communities as the Coronavirus situation continues to evolve," said Tal Centers, CenterPoint Energy's vice president of Regional Operations in Texas. "CenterPoint Energy has activated its Pandemic Preparedness Plan and we continue to monitor updates and follow protocols from the Centers for Disease Control and Prevention (CDC), World Health Organization (WHO) and state and local officials. We are also working closely with all regulatory agencies, government entities and emergency management organizations across our service territory."

CenterPoint Energy has implemented additional measures to protect the safety and health of its customers, employees and contractors, as well as to prevent the spread of the Coronavirus. These safety measures include:

  • Equipping employees with additional personal protective equipment (PPE);
  • Directing field employees to attempt to resolve service issues without entering homes or businesses;
  • Following social distancing guidelines and wearing PPE if entering customers' homes, businesses and property to provide service;
  • Implementing a telework approach for employees who can perform their job responsibilities from home or a remote location;
  • Increasing cleaning and disinfecting frequency of facilities and vehicles;
  • Leveraging technology to minimize face-to-face contact and meetings; and
  • Emphasizing good hygiene, including washing and sanitizing hands
2020-03-25T05:00:00Z
Vectren provides updates to customers concerning service during the Coronavirus situation

Evansville – Vectren, a CenterPoint Energy company, continues to be committed to providing its customers throughout Indiana and Ohio with safe and reliable service during the current Coronavirus situation. During this challenging time, Vectren is committed to serving its customers and keeping them informed as the situation continues to evolve.

Vectren's natural gas and electric crews will continue to provide service by responding to calls and completing work orders. There are a number of system reliability projects that will continue to be worked, and the disruption to customers during those times will be minimal. If you see Vectren crews performing work, please avoid approaching them and continue to practice social distancing.

Vectren will continue to support those customers who may need payment assistance, arrangements or extensions during the Coronavirus situation. In addition, the company has temporarily suspended natural gas and electric service disconnections for nonpayment. There have been reports of scams following the COVID-19 outbreak, so customers are reminded that Vectren would never call and demand payment over the phone or by prepaid debit card to avoid disconnection. Customers who would like to discuss payment options should call 1-800-227-1376.

As states continue to issue stay-at-home orders and customers are spending more time at home, energy consumption will increase beyond normal usage. To assist in lowering usage, Vectren encourages customers to take advantage of our energy efficiency tools and resources. Visit Vectren.com/saveenergy for information.

"We are committed to the safety and well-being of our customers, employees, contractors and communities as the Coronavirus situation continues to evolve," said Lynnae Wilson, chief business officer, Indiana Electric. "Vectren has activated its Pandemic Preparedness Plan and we continue to monitor updates and follow protocols from the Centers for Disease Control and Prevention (CDC), World Health Organization (WHO) and state and local officials. We are also working closely with all regulatory agencies, government entities and emergency management organizations across our service territory."

Vectren has implemented additional measures to protect the safety and health of its customers, employees and contractors, as well as to prevent the spread of the Coronavirus. These safety measures include:

  • Equipping employees with hand sanitizer in their vehicles as well as latex gloves and shoe covers – in addition to standard personal protective equipment (PPE);
  • Directing field employees to attempt to resolve service issues without entering homes or businesses;
  • Following social distancing guidelines and wearing PPE if entering customers' homes and businesses to provide service;
  • Implementing a telework approach for employees who can perform their job responsibilities from home or a remote location;
  • Increasing cleaning and disinfecting frequency of facilities and vehicles;
  • Leveraging technology to minimize face-to-face contact and meetings; and
  • Emphasizing good hygiene, including washing and sanitizing hands.

 

About CenterPoint Energy

Headquartered in Houston, CenterPoint Energy, Inc. is an energy delivery company with regulated utility businesses in eight states and a competitive energy businesses footprint in nearly 40 states. Through its electric transmission & distribution, power generation and natural gas distribution businesses, the company serves more than 7 million metered customers in Arkansas, Indiana, Louisiana, Minnesota, Mississippi, Ohio, Oklahoma and Texas. CenterPoint Energy's competitive energy businesses include natural gas marketing and energy-related services; energy efficiency, sustainability and infrastructure modernization solutions; and construction and repair services for pipeline systems, primarily natural gas. The company also owns 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 14,000 employees and nearly $35 billion in assets, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, visit CenterPointEnergy.com.

 

2020-03-25T05:00:00Z
CenterPoint Energy provides updates to Oklahoma customers about natural gas service during the coronavirus situation

Houston – March 25, 2020 CenterPoint Energy, the natural gas utility serving about 100,000 customers in Oklahoma, continues to be committed to providing its customers with safe, reliable service during the current coronavirus situation.

CenterPoint Energy's natural gas crews will continue to provide service by responding to calls and completing work orders. A number of pipeline replacement projects are ongoing, and the disruption to customers during these times will be minimal. If you see CenterPoint Energy employees or contractors performing work, please practice safe social distancing and avoid approaching them.

CenterPoint Energy continues to work with customers who may need payment assistance, arrangements or extensions during the coronavirus situation. In addition, the company has temporarily suspended natural gas disconnections for nonpayment. Customers can discuss payment options by calling 866-275-5265.

There have been reports of scams that seek to exploit the coronavirus outbreak, so customers are reminded that CenterPoint Energy would never call and demand payment over the phone or by prepaid debit card to avoid disconnection.

As people spend more time at home, energy consumption may increase beyond normal usage. To assist in reducing consumption, CenterPoint Energy encourages customers to take advantage of our energy efficiency tools and resources. For information, visit CenterPointEnergy.com/saveenergy

CenterPoint Energy has implemented additional measures to protect the safety and health of its customers, employees and contractors, as well as to prevent the spread of the coronavirus. These safety measures include:

  • Equipping employees with hand sanitizer in their vehicles as well as latex gloves and shoe covers – in addition to standard personal protective equipment (PPE);
  • Directing field employees to attempt to resolve service issues without entering homes or businesses;
  • Following social distancing guidelines and wearing PPE if entering a customer's home or business to provide service;
  • Implementing telework for employees who can perform their job responsibilities from home or a remote location;
  • Increasing cleaning and disinfecting frequency of facilities and vehicles;
  • Leveraging technology to minimize face-to-face contact and meetings; and
  • Emphasizing good hygiene, including washing and sanitizing hands.

 

About CenterPoint Energy

Headquartered in Houston, CenterPoint Energy, Inc. is an energy delivery company with regulated utility businesses in eight states and a competitive energy businesses footprint in nearly 40 states. Through its electric transmission & distribution, power generation and natural gas distribution businesses, the company serves more than 7 million metered customers in Arkansas, Indiana, Louisiana, Minnesota, Mississippi, Ohio, Oklahoma and Texas. CenterPoint Energy's competitive energy businesses include natural gas marketing and energy-related services; energy efficiency, sustainability and infrastructure modernization solutions; and construction and repair services for pipeline systems, primarily natural gas. The company also owns 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 14,000 employees and nearly $35 billion in assets, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, visit CenterPointEnergy.com.

 

###

 

2020-03-25T05:00:00Z
CenterPoint Energy provides updates to Arkansas customers about natural gas service during the coronavirus situation

Houston – March 25, 2020 – CenterPoint Energy, the natural gas utility serving about 400,000 customers in Arkansas, continues to be committed to providing its customers with safe, reliable service during the current coronavirus situation.

CenterPoint Energy's natural gas crews will continue to provide service by responding to calls and completing work orders. A number of pipeline replacement projects are ongoing, and the disruption to customers during these times will be minimal. If you see CenterPoint Energy employees or contractors performing work, please practice safe social distancing and avoid approaching them.

CenterPoint Energy will continue to work with customers who may need payment assistance, arrangements or extensions during the coronavirus situation. In addition, the company has temporarily suspended natural gas disconnections for nonpayment. Customers can discuss payment options by calling 800-992-7552.

There have been reports of scams that seek to exploit the coronavirus outbreak, so customers are reminded that CenterPoint Energy would never call and demand payment over the phone or by prepaid debit card to avoid disconnection.

As people spend more time at home, energy consumption may increase beyond normal usage. To assist in reducing consumption, CenterPoint Energy encourages customers to take advantage of our energy efficiency tools and resources. For information, visit CenterPointEnergy.com/saveenergy

CenterPoint Energy has implemented additional measures to protect the safety and health of its customers, employees and contractors, as well as to prevent the spread of the coronavirus. These safety measures include:

  • Equipping employees with hand sanitizer in their vehicles as well as latex gloves and shoe covers – in addition to standard personal protective equipment (PPE);
  • Directing field employees to attempt to resolve service issues without entering homes or businesses;
  • Following social distancing guidelines and wearing PPE if entering a customer's home or business to provide service;
  • Implementing telework for employees who can perform their job responsibilities from home or a remote location;
  • Increasing cleaning and disinfecting frequency of facilities and vehicles;
  • Leveraging technology to minimize face-to-face contact and meetings; and
  • Emphasizing good hygiene, including washing and sanitizing hands.

 

About CenterPoint Energy

Headquartered in Houston, CenterPoint Energy, Inc. is an energy delivery company with regulated utility businesses in eight states and a competitive energy businesses footprint in nearly 40 states. Through its electric transmission & distribution, power generation and natural gas distribution businesses, the company serves more than 7 million metered customers in Arkansas, Indiana, Louisiana, Minnesota, Mississippi, Ohio, Oklahoma and Texas. CenterPoint Energy's competitive energy businesses include natural gas marketing and energy-related services; energy efficiency, sustainability and infrastructure modernization solutions; and construction and repair services for pipeline systems, primarily natural gas. The company also owns 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 14,000 employees and nearly $35 billion in assets, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, visit CenterPointEnergy.com.

2020-03-25T05:00:00Z
CenterPoint Energy provides updates to Louisiana customers concerning service during the Coronavirus situation

Houston – March 25, 2020 – CenterPoint Energy continues to be committed to providing its customers throughout its service territory with safe and reliable service during the current Coronavirus situation. During this challenging time, CenterPoint Energy is committed to serving its customers and keeping them informed as the situation continues to evolve.

CenterPoint Energy's natural gas crews will continue to provide service by responding to calls and completing work orders. If you see CenterPoint Energy crews performing work, please avoid approaching them and continue to practice social distancing.

CenterPoint Energy will continue to support those customers who may need payment assistance, arrangements or extensions during the Coronavirus situation. In addition, the company has temporarily suspended natural gas service disconnections for nonpayment. There have been reports of scams following the COVID-19 outbreak, so customers are reminded that CenterPoint Energy would never call and demand payment over the phone or by prepaid debit card to avoid disconnection. Customers who would like to discuss payment options should call 866-275-5252 (North Louisiana) or 800-477-0177 (South Louisiana), or visit the company's website.

"We are committed to the safety and well-being of our customers, employees, contractors and communities as the Coronavirus situation continues to evolve," said Christe Singleton, CenterPoint Energy's vice president of Regional Operations in Louisiana. "CenterPoint Energy has activated its Pandemic Preparedness Plan and we continue to monitor updates and follow protocols from the Centers for Disease Control and Prevention (CDC), World Health Organization (WHO) and state and local officials. We are also working closely with all regulatory agencies, government entities and emergency management organizations across our service territory."

CenterPoint Energy has implemented additional measures to protect the safety and health of its customers, employees and contractors, as well as to prevent the spread of the Coronavirus. These safety measures include:

  • Equipping employees with additional personal protective equipment (PPE);
  • Directing field employees to attempt to resolve service issues without entering homes or businesses;
  • Following social distancing guidelines and wearing PPE if entering customers' homes, businesses and property to provide service;
  • Implementing a telework approach for employees who can perform their job responsibilities from home or a remote location;
  • Increasing cleaning and disinfecting frequency of facilities and vehicles;
  • Leveraging technology to minimize face-to-face contact and meetings; and
  • Emphasizing good hygiene, including washing and sanitizing hands.

     
2020-03-25T05:00:00Z
CenterPoint Energy provides updates to Mississippi customers concerning service during the Coronavirus situation

Houston – March 25, 2020 – CenterPoint Energy continues to be committed to providing its customers throughout its service territory with safe and reliable service during the current Coronavirus situation. During this challenging time, CenterPoint Energy is committed to serving its customers and keeping them informed as the situation continues to evolve.

CenterPoint Energy's natural gas crews will continue to provide service by responding to calls and completing work orders. If you see CenterPoint Energy crews performing work, please avoid approaching them and continue to practice social distancing.

CenterPoint Energy will continue to support those customers who may need payment assistance, arrangements or extensions during the Coronavirus situation. In addition, the company has temporarily suspended natural gas service disconnections for nonpayment. There have been reports of scams following the COVID-19 outbreak, so customers are reminded that CenterPoint Energy would never call and demand payment over the phone or by prepaid debit card to avoid disconnection. Customers who would like to discuss payment options should call 800-371-5417 or visit the company's website.

"We are committed to the safety and well-being of our customers, employees, contractors and communities as the Coronavirus situation continues to evolve," said Christe Singleton, CenterPoint Energy's vice president of Regional Operations in Mississippi. "CenterPoint Energy has activated its Pandemic Preparedness Plan and we continue to monitor updates and follow protocols from the Centers for Disease Control and Prevention (CDC), World Health Organization (WHO) and state and local officials. We are also working closely with all regulatory agencies, government entities and emergency management organizations across our service territory."

CenterPoint Energy has implemented additional measures to protect the safety and health of its customers, employees and contractors, as well as to prevent the spread of the Coronavirus. These safety measures include:

  • Equipping employees with additional personal protective equipment (PPE);
  • Directing field employees to attempt to resolve service issues without entering homes or businesses;
  • Following social distancing guidelines and wearing PPE if entering customers' homes, businesses and property to provide service;
  • Implementing a telework approach for employees who can perform their job responsibilities from home or a remote location;
  • Increasing cleaning and disinfecting frequency of facilities and vehicles;
  • Leveraging technology to minimize face-to-face contact and meetings; and
  • Emphasizing good hygiene, including washing and sanitizing hands.
2020-03-25T05:00:00Z
CenterPoint Energy remains committed to health and safety of customers, employees, contractors and communities

Houston – March 16, 2020 – As a provider of essential energy services to customers across its footprint, CenterPoint Energy continues to monitor the impact of the Coronavirus (COVID-19). During this time, the company is reassuring its customers that comprehensive plans and processes are in place to help ensure safe, reliable energy delivery to electricity customers across greater Houston and southwest Indiana, as well as to natural gas customers in Arkansas, Indiana, Louisiana, Minnesota, Mississippi, Ohio, Oklahoma and Texas.

"We are committed to the safety and well-being of our customers, employees, contractors and communities as the Coronavirus situation continues to evolve," said John W. Somerhalder II , interim president and chief executive officer of CenterPoint Energy. "CenterPoint Energy has activated its Pandemic Preparedness Plan and we continue to monitor updates and follow protocols from the Centers for Disease Control and Prevention (CDC), World Health Organization (WHO) and state and local officials. We are also working closely with all regulatory agencies, government entities and emergency management organizations across our service territory to help ensure uninterrupted electricity and natural gas service delivery to our customers."

CenterPoint Energy will support customers who may need payment assistance, arrangements or extensions during the Coronavirus situation. In addition, the company has temporarily suspended natural gas service disconnections for nonpayment. For customers in southwest Indiana, this includes the temporary suspension of electric service disconnections.

CenterPoint Energy has implemented additional measures to protect the safety and health of its customers, employees and contractors, as well as to prevent the spread of the Coronavirus. These safety measures include:

  • Equipping employees with hand sanitizer in their vehicles as well as latex gloves and shoe covers – in addition to standard protective equipment;
  • Directing field employees to attempt to resolve service issues without entering homes or businesses;
  • Following social distancing guidelines and wearing protective equipment if entering customers' homes and businesses to provide service;
  • Implementing a telework approach for employees who can perform their job responsibilities from home or a remote location;
  • Increasing cleaning and disinfecting frequency of facilities and vehicles;
  • Leveraging technology to minimize face-to-face contact and meetings;
  • Emphasizing good hygiene, including washing and sanitizing hands;
  • Requiring employees to stay home if they are feeling sick;
  • Suspending international air travel and non-essential domestic air travel; and
  • Minimizing contact with visitors and others at company facilities.

CenterPoint Energy continues to provide regular updates to its employees and has established a Coronavirus information page on the company's intranet site, with resources and current prevention recommendations from official sources, such as the CDC and WHO.

2020-03-16T05:00:00Z
CenterPoint Energy statement regarding cut natural gas line in The Woodlands, Texas

HOUSTON – March 11, 2020 – A CenterPoint Energy natural gas line near the intersection of Research Forest and Aldine Bridge Drive in The Woodlands, Tex., was struck yesterday evening by a third-party contractor.

We have had well-trained, experienced crews on the scene since the line was struck, working to control the gas and ensure the area is safe. Crews continue to work as safely and quickly as possible to shut the natural gas off.

CenterPoint Energy appreciates the cooperation of Montgomery County Precinct 2 Commissioner, Charlie Riley; Montgomery County Precinct 3 Commissioner, James Noack; and associated local emergency officials with whom we've been working closely to ensure the area is safe.

We encourage the public to avoid the area near the intersection of Research Forest and Aldine Bridge Drive and plan for extra time. We will provide an update when the natural gas has been shut off and the area is safe.

Always be alert for the smell of natural gas. If you smell gas, leave the area immediately on foot and tell others to leave, too. Once safely away from the area, call 911 and CenterPoint Energy.

2020-03-11T05:00:00Z
https://www.centerpointenergy.com/en-us/corporate/about-us/news/CenterPoint Energy introduces Carbon Policy committing to reductions in emissions
CenterPoint Energy introduces Carbon Policy committing to reductions in emissions

HOUSTON, March 2, 2020 - Leading U.S. energy delivery company CenterPoint Energy (NYSE: CNP) today announced a goal to reduce its operational emissions by 70 percent by 2035 and emissions attributable to natural gas usage in heating, appliances and equipment within the residential and commercial sectors by 20 to 30 percent by 2040. The company's reduction goals are based on its 2005 emissions.

CenterPoint Energy logo. (PRNewsFoto)

With more than 7 million electric and natural gas metered customers across eight states, CenterPoint Energy is among the first energy delivery companies to make an emissions-reduction commitment across a multi-state footprint.

"CenterPoint Energy has a long history of environmental commitment and we are proud to be a leader in the transition to a cleaner energy future," said John W. Somerhalder II, CenterPoint's interim president and chief executive officer. "Further reductions in our carbon footprint aligns with this commitment, and we look forward to bringing new, innovative technologies to the emissions-reduction effort, while maintaining affordability, reliability and quality of life."

To achieve its reduction goals, CenterPoint Energy will focus on four areas:

  1. Partnering with customers to offer affordable conservation and energy efficiency programs;
  2. Continuing to develop alternative fuel programs;
  3. Collaborating with our suppliers to lower their methane emissions; and
  4. Piloting and supporting innovation.

CenterPoint Energy has invested in infrastructure modernization, as well as research and development projects in recent years to reduce emissions, including carbon capture technology, the piloting of renewable natural gas, and improved methods for identifying and eliminating methane leaks. These technologies span the lifecycle of natural gas and other energy production, from extraction to consumer use and beyond. CenterPoint Energy's commitment will also include providing more consumer choice for alternative transportation fuels and expanding electric vehicle infrastructure in Texas and Indiana.

"There are significant benefits to transitioning to cleaner energy beyond just environmental," said Angila Retherford, CenterPoint Energy's vice president of Environmental Affairs and Corporate Sustainability. "By investing in new projects that lead to good-paying, green jobs, CenterPoint Energy is helping to support local communities, while showing how energy companies can be a partner in building America's clean energy future." 

CenterPoint Energy will work with partners, customers, employees and other stakeholders across its service territory to achieve its reduction goals. The company continues to offer customers energy efficiency programs and is investing in renewable forms of energy on both the natural gas and electric sides of the business. Furthermore, CenterPoint Energy will partner with natural gas suppliers to take meaningful steps to lower methane emissions across the natural gas value chain.

At the same time, CenterPoint Energy will continue to support the communities where it operates with their climate action goals. The company will focus on driving lower emissions across the natural gas value chain to ensure its continued role in supporting the transition of the nation's power generation fleet to meet lower carbon emission goals.

Forward Looking Statement
This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this news release, the words "anticipate," "believe," "continue," "could," "estimate," "expect," "forecast," "goal," "intend," "may," "objective," "plan," "potential," "predict," "projection," "should," "target," "will" or other similar words are intended to identify forward-looking statements. These forward-looking statements are based upon assumptions of management which are believed to be reasonable at the time made and are subject to significant risks and uncertainties. Actual events and results may differ materially from those expressed or implied by these forward-looking statements. Any statements in this news release regarding future events, such as the company's carbon policy emission reduction goals, focus areas and related timing thereof, the continuation of customer programs, the anticipated transition of the power generation fleet 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 the timing and impact of future regulatory and legislative decisions, effects of competition, weather variations, changes in business plans, financial market conditions and other factors discussed in CenterPoint Energy's Annual Report on Form 10-K for the fiscal year ended December 31, 2019 and other reports CenterPoint Energy or its subsidiaries may file from time to time with the Securities and Exchange Commission.

About CenterPoint Energy
Headquartered in Houston, Texas, CenterPoint Energy, Inc. is an energy delivery company with regulated utility businesses in eight states and a competitive energy businesses footprint in nearly 40 states. Through its electric transmission & distribution, power generation and natural gas distribution businesses, the company serves more than 7 million metered customers in Arkansas, Indiana, Louisiana, Minnesota, Mississippi, Ohio, Oklahoma and Texas. CenterPoint Energy's competitive energy businesses include natural gas marketing and energy-related services; energy efficiency, sustainability and infrastructure modernization solutions; and construction and repair services for pipeline systems, primarily natural gas. The company also owns 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 14,000 employees and nearly $35 billion in assets, 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 Relations
Media Access Line: 713.619.5143
Media.Relations@CenterPointEnergy.com

 

SOURCE CenterPoint Energy, Inc.

2020-03-02T06:00:00Z
CenterPoint Energy reports full-year 2019 earnings of $1.33 per diluted share; $1.79 earnings per diluted share on a guidance basis, excluding certain Vectren merger impacts and impairment charges

Houston - February 27, 2020 - CenterPoint Energy, Inc. (NYSE: CNP) today reported income available to common shareholders of $674 million, or $1.33 per diluted share, for the full-year 2019, compared with $333 million, or $0.74 per diluted share for the full-year 2018. On a guidance basis, full-year 2019 earnings were $1.79 per diluted share, excluding certain impacts associated with the Vectren merger (the merger) and non-cash impairment charges recorded at Energy Services and Midstream Investments. Full-year 2019 earnings, on a guidance basis, included $0.12 of favorable weather and one-time tax benefits. Full-year 2018 earnings, on a guidance basis and excluding certain impacts associated with the merger, were $1.60 per diluted share.

Fourth quarter 2019 earnings were $0.25 per diluted share, compared to $0.18 per diluted share for the fourth quarter of 2018.  On a guidance basis and excluding certain impacts associated with the merger and non-cash impairment charges, fourth quarter 2019 earnings were $0.45 per diluted share, compared to $0.36 per diluted share for the fourth quarter of 2018.

"I am very pleased with our 2019 results, driven by strong utility performance, primarily as a result of customer growth and disciplined cost management, as well as favorable weather and tax related outcomes," said John W. Somerhalder II, interim president and chief executive officer of CenterPoint Energy. "The recently announced agreements to sell our Energy Services and Infrastructure Services businesses will further sharpen the company's focus on our core utility businesses, improving our business profile and earnings quality, while at the same time strengthening our balance sheet and enhancing our investment grade credit quality."

  • Strong utility performance drives 2019 results well above upper end of EPS guidance basis range of $1.60 - $1.70
  • Sale of Energy Services and Infrastructure Services businesses
  • Announced 2020 Utility EPS guidance range of $1.10 - $1.20; 2020 Midstream Investments EPS expected range of $0.23 - $0.28

Business Segments

Houston Electric - Transmission & Distribution

The Houston electric - transmission & distribution segment reported operating income of $624 million for the full-year 2019, consisting of $590 million from the regulated electric transmission and distribution utility operations (TDU) and $34 million related to securitization bonds. Operating income for the TDU for 2019 includes $10 million of merger-related expenses.  Excluding merger-related expenses, 2019 TDU operating income was $600 million.

Operating income for 2018 was $623 million, consisting of $568 million from the TDU and $55 million related to securitization bonds. Excluding merger-related expenses, operating income for the TDU benefited primarily from rate relief, lower operation and maintenance expenses, customer growth and miscellaneous revenues, primarily related to right-of-way revenues. These benefits were partially offset by increased depreciation and amortization expense, lower usage, lower revenues related to the Tax Cuts and Jobs Act (TCJA) and lower equity return, primarily related to the annual true-up of transition charges.

Indiana Electric – Integrated

The Indiana electric – integrated segment reported operating income of $90 million for the full-year 2019. Operating income includes $21 million of merger-related expenses. These results are not comparable to 2018 as this segment was acquired in the merger in February 2019.

Natural Gas Distribution

The natural gas distribution segment reported operating income of $408 million for the full-year 2019. Operating income includes $55 million of merger-related expenses. Excluding merger-related expenses, 2019 natural gas distribution segment operating income was $463 million. Natural gas distribution segment operating income for the full-year 2018 was $266 million.

Excluding merger-related expenses, operating income increased $136 million due to the gas utilities acquired in the merger in February 2019. The remaining increase is primarily due to favorable weather and usage, driven by timing of a decoupling mechanism in Minnesota, rate relief, customer growth and lower operation and maintenance expenses. These increases were partially offset by increased depreciation and amortization expense.

Energy Services

The energy services segment reported operating income of $32 million for the full-year 2019, which included a mark-to-market gain of $39 million and a non-cash impairment charge of $48 million recorded for goodwill, compared with an operating loss of $47 million for 2018, which included a mark-to-market loss of $110 million. Excluding mark-to-market adjustments and the non-cash impairment charge, operating income was $41 million for the full-year 2019 compared to $63 million for 2018. Operating income, excluding mark-to-market adjustments and the non-cash impairment charge, decreased primarily as a result of a decrease in margin due to fewer opportunities to optimize natural gas supply costs in 2019 relative to 2018.

Infrastructure Services

The infrastructure services segment reported operating income of $95 million for the full-year 2019. Operating income includes $32 million of merger-related expenses. These results are not comparable to 2018 as this segment was acquired in the merger in February 2019.

Midstream Investments

The midstream investments segment reported $229 million of equity income for the full-year 2019, which included the company's share, $46 million, of the non-cash impairment charge Enable Midstream Partners, LP (Enable) recorded for goodwill.  Equity income for 2018 was $307 million. For further detail, please refer to Enable's investor materials provided during its 4th quarter earnings call on February 19, 2020.

Corporate and Other

The corporate and other segment reported an operating loss of $23 million for the full-year 2019, compared with an $11 million operating loss for 2018. Operating income in 2019 included $79 million of merger-related expenses. Operating income for 2018 included $46 million of merger-related expenses.

Earnings Outlook

To provide greater transparency on utility earnings, 2020 guidance will be presented in two components, a guidance basis Utility EPS range and a Midstream Investments EPS expected range.

  • 2020 guidance basis Utility EPS range of $1.10 - $1.20
  • 2020 - 2024 target of 5 - 7% compound annual guidance basis Utility EPS growth, using the 2020 range of $1.10 - $1.20 as the starting EPS
  • 2020 Midstream Investments EPS expected range is $0.23 - $0.28

Utility EPS Guidance Range

  • Utility EPS guidance range includes net income from Houston Electric, Indiana Electric and Natural Gas Distribution business segments, as well as after tax operating income from the Corporate and Other business segment.
  • The 2020 Utility EPS guidance range considers operations performance to date and assumptions for certain significant variables that may impact earnings, such as customer growth (approximately 2% for electric operations and 1% for natural gas distribution) and usage including normal weather, throughput, recovery of capital invested through rate cases and other rate filings, effective tax rates, financing activities and related interest rates, regulatory and judicial proceedings and anticipated cost savings as a result of the merger.  The Utility EPS guidance range also assumes an allocation of corporate overhead based upon its relative earnings contribution. Corporate overhead consists of interest expense, preferred stock dividend requirements and other items directly attributable to the parent along with the associated income taxes.
  • Utility EPS guidance excludes:
    • Certain integration and transaction-related fees and expenses associated with the merger
    • Severance costs
    • Midstream Investments and allocation of associated corporate overhead
    • Results related to Infrastructure Services and Energy Services prior to the anticipated closing of the sale of those businesses, including anticipated costs and impairment resulting from the sale of Infrastructure Services and Energy Services
    • Earnings or losses from the change in value of ZENS and related securities
    • Changes in accounting standards

In providing this 2020 guidance, CenterPoint Energy uses a non-GAAP measure of adjusted diluted earnings per share that does not consider the items noted above and other potential impacts, including unusual items, which could have a material impact on GAAP reported results for the applicable guidance period.  CenterPoint Energy is unable to present a quantitative reconciliation of forward looking adjusted diluted earnings per share because changes in the value of ZENS and related securities is not estimable as it is highly variable and difficult to predict due to various factors outside of management's control.

Midstream Investments EPS Expected Range
The 2020 Midstream Investments EPS expected range is $0.23 - $0.28. In providing this EPS range for Midstream Investments, the company assumes a 53.7 percent limited partner ownership interest in Enable and includes the amortization of its basis differential in Enable and assumes an allocation of CenterPoint Energy corporate overhead based upon Midstream Investments relative earnings contribution. The Midstream Investments EPS expected range takes into account such factors as Enable's most recent public outlook for 2020 dated Feb. 19, 2020, and effective tax rates. The company does not include other potential impacts such as any changes in accounting standards, impairments or Enable's unusual items.

2019 Q4 Guidance Tables

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, 2019. A copy of that report is available on the company's website, under the Investors section. Investors and others should note that we may announce material information using SEC filings, press releases, public conference calls, webcasts, and the Investor Relations page of our website.  In the future, we will continue to use these channels to distribute material information about the company and to communicate important information about the company, key personnel, corporate initiatives, regulatory updates and other matters.  Information that we post on our website could be deemed material; therefore we encourage investors, the media, our customers, business partners and others interested in our company to review the information we post on our website.

Webcast of Earnings Conference Call

CenterPoint Energy's management will host an earnings conference call on Thursday, February 27, 2020, at 10:00 a.m. Central time/11:00 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.

2019 Q4 Financial Tables

Headquartered in Houston, Texas, CenterPoint Energy, Inc. is an energy delivery company with regulated utility businesses in eight states and a competitive energy businesses footprint in nearly 40 states. Through its electric transmission & distribution, power generation and natural gas distribution businesses, the company serves more than 7 million metered customers in Arkansas, Indiana, Louisiana, Minnesota, Mississippi, Ohio, Oklahoma and Texas. CenterPoint Energy's competitive energy businesses include natural gas marketing and energy-related services; energy efficiency, sustainability and infrastructure modernization solutions; and construction and repair services for pipeline systems, primarily natural gas. The company also owns 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 14,000 employees and approximately $35 billion in assets, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, visit 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 earnings, and future financial performance and results of operations, including, but not limited to earnings guidance, targeted dividend growth rate 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.

Risks Related to CenterPoint Energy

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 performance of Enable Midstream Partners, LP (Enable), the amount of cash distributions CenterPoint Energy receives from Enable, Enable's ability to redeem the Enable 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 goodwill, long-lived asset or other than temporary impairment charges by or related to Enable; (F) the timing of payments from Enable's customers under existing contracts, including minimum volume commitment payments; (G) changes in tax status; and (H) access to debt and equity capital; (2) CenterPoint Energy's expected benefits of the merger with Vectren Corporation (Vectren) and integration, including the outcome of shareholder litigation filed against Vectren that could reduce anticipated benefits of the merger, as well as the ability to successfully integrate the Vectren businesses and to realize anticipated benefits and commercial opportunities; (3) industrial, commercial and residential growth in CenterPoint Energy's service territories and changes in market demand, including the demand for CenterPoint Energy's non-utility products and services and effects of energy efficiency measures and demographic patterns; (4) the outcome of the pending Houston Electric rate case; (5) timely and appropriate rate actions that allow recovery of costs and a reasonable return on investment; (6) future economic conditions in regional and national markets and their effect on sales, prices and costs; (7) weather variations and other natural phenomena, including the impact of severe weather events on operations and capital; (8) 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; (9) tax legislation, including the effects of the comprehensive tax reform legislation informally referred to as the Tax Cuts and Jobs Act (which includes any potential changes to interest deductibility) and uncertainties involving state commissions' and local municipalities' regulatory requirements and determinations regarding the treatment of excess deferred income taxes and CenterPoint Energy's rates; (10) CenterPoint Energy's ability to mitigate weather impacts through normalization or rate mechanisms, and the effectiveness of such mechanisms; (11) the timing and extent of changes in commodity prices, particularly natural gas and coal, and the effects of geographic and seasonal commodity price differentials; (12) the ability of CenterPoint Energy's and CERC's non-utility business operating in the Energy Services reportable segment to effectively optimize opportunities related to natural gas price volatility and storage activities, including weather-related impacts; (13) actions by credit rating agencies, including any potential downgrades to credit ratings; (14) changes in interest rates and their impact on CenterPoint Energy's costs of borrowing and the valuation of its pension benefit obligation; (15) problems with regulatory approval, legislative actions, construction, implementation of necessary technology or other issues with respect to major capital projects that result in delays or cancellations or in cost overruns that cannot be recouped in rates; (16) the availability and prices of raw materials and services and changes in labor for current and future construction projects; (17) local, state and federal legislative and regulatory actions or developments relating to the environment, including, among other things those related to global climate change, air emissions, carbon, waste water discharges and the handling and disposal of coal combustion residuals (CCR) that could impact the continued operation, and/or cost recovery of generation plant costs and related assets; (18) the impact of unplanned facility outages or other closures; (19) any direct or indirect effects on CenterPoint Energy's or Enable'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, ice, earthquakes, explosions, leaks, floods, droughts, hurricanes, tornadoes, pandemic health events or other occurrences; (20) CenterPoint Energy's ability to invest planned capital and the timely recovery of CenterPoint Energy's existing and future investments, including those related to the Indiana Electric's anticipated Integrated Resource Plan; (21) CenterPoint Energy's ability to successfully construct and operate electric generating facilities, including complying with applicable environmental standards and the implementation of a well-balanced energy and resource mix, as appropriate; (22) CenterPoint Energy's ability to control operation and maintenance costs; (23) the sufficiency of CenterPoint Energy's insurance coverage, including availability, cost, coverage and terms and ability to recover claims; (24) the investment performance of CenterPoint Energy's pension and postretirement benefit plans; (25) 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; (26) changes in rates of inflation; (27) inability of various counterparties to meet their obligations to CenterPoint Energy; (28) non-payment for CenterPoint Energy's services due to financial distress of its customers; (29) the extent and effectiveness of CenterPoint Energy's and Enable's risk management and hedging activities, including but not limited to, financial and weather hedges and commodity risk management activities; (30) timely and appropriate regulatory actions, which include actions allowing securitization, for any future hurricanes or natural disasters or other recovery of costs, including costs associated with Hurricane Harvey; (31) 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 the proposed sales of Infrastructure Services and CES, which CenterPoint Energy and Enable cannot assure will be completed or will have the anticipated benefits to CenterPoint Energy or Enable; (32) the recording of impairment charges, including any impairment associated with Infrastructure Services and CES; (33) the performance of projects undertaken by CenterPoint Energy's non-utility businesses and the success of efforts to realize value from, invest in and develop new opportunities and other factors affecting those non-utility businesses, including, but not limited to, the level of success in bidding contracts, fluctuations in volume and mix of contracted work, mix of projects received under blanket contracts, failure to properly estimate cost to construct projects or unanticipated cost increases in completion of the contracted work, changes in energy prices that affect demand for construction services and projects and cancellation and/or reductions in the scope of projects by customers and obligations related to warranties and guarantees; (34) acquisition and merger activities involving CenterPoint Energy or its competitors, including the ability to successfully complete merger, acquisition and divestiture plans; (35) CenterPoint Energy's or Enable's ability to recruit, effectively transition and retain management and key employees and maintain good labor relations; (36) the outcome of litigation; (37) the ability of retail electric providers (REPs), including REP affiliates of NRG Energy, Inc. and Vistra Energy Corp., formerly known as TCEH Corp., to satisfy their obligations to CenterPoint Energy and its subsidiaries; (38) changes in technology, particularly with respect to efficient battery storage or the emergence or growth of new, developing or alternative sources of generation; (39) the impact of alternate energy sources on the demand for natural gas; (40) the timing and outcome of any audits, disputes and other proceedings related to taxes; (41) the effective tax rates; (42) the transition to a replacement for the LIBOR benchmark interest rate; (43) the effect of changes in and application of accounting standards and pronouncements; and (44) other factors discussed in CenterPoint Energy's Annual Report on Form 10-K for the fiscal year ended December 31, 2019 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 by CenterPoint Energy in Providing Guidance

In addition to presenting its financial results in accordance with generally accepted accounting principles (GAAP), including presentation of income available to common shareholders and diluted earnings per share, CenterPoint Energy also provides guidance based on adjusted income and adjusted diluted earnings per share, which are non-GAAP financial measures.  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.

To provide greater transparency on utility earnings, CenterPoint Energy's 2020 guidance will be presented in two components, a guidance basis Utility EPS range and a Midstream Investments EPS expected range. The 2020 Utility EPS guidance range includes net income from Houston Electric, Indiana Electric and Natural Gas Distribution business segments, as well as after tax operating income from the Corporate and Other business segment. The 2020 Utility EPS guidance range considers operations performance to date and assumptions for certain significant variables that may impact earnings, such as customer growth (approximately 2% for electric operations and 1% for natural gas distribution) and usage including normal weather, throughput, recovery of capital invested through rate cases and other rate filings, effective tax rates, financing activities and related interest rates, regulatory and judicial proceedings and anticipated cost savings as a result of the merger.  The 2020 Utility EPS guidance range also assumes an allocation of corporate overhead based upon its relative earnings contribution. Corporate overhead consists of interest expense, preferred stock dividend requirements and other items directly attributable to the parent along with the associated income taxes. Utility EPS guidance excludes (a) certain integration and transaction-related fees and expenses associated with the merger, (b) severance costs, (c) Midstream Investments and associated allocation of corporate overhead, (d) results related to Infrastructure Services and Energy Services prior to the anticipated closing of the sale of those businesses, including anticipated costs and impairment resulting from the sale of Infrastructure Services and Energy Services, and (e) earnings or losses from the change in value of ZENS and related securities. In providing this guidance, CenterPoint Energy 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, which could have a material impact on GAAP reported results for the applicable guidance period.  CenterPoint Energy is unable to present a quantitative reconciliation of forward looking adjusted diluted earnings per share because changes in the value of ZENS and related securities is not estimable as it is highly variable and difficult to predict due to various factors outside of management's control.

The 2020 Midstream Investments EPS expected range assumes a 53.7 percent limited partner ownership interest in Enable and includes the amortization of the Company's basis differential in Enable and assumes an allocation of CenterPoint Energy corporate overhead based upon Midstream Investments relative earnings contribution. The Midstream Investments EPS expected range takes into account such factors as Enable's most recent public outlook for 2020 dated Feb. 19, 2020, and effective tax rates. The company does not include other potential impacts such as any changes in accounting standards, impairments or Enable's unusual items.

Management evaluates the company's financial performance in part based on adjusted income and adjusted diluted earnings per share. Management believes that presenting these non-GAAP financial measures enhances an investor's understanding of CenterPoint Energy's overall financial performance by providing them with an additional meaningful and relevant comparison of current and anticipated future results across periods. The adjustments made in these non-GAAP financial measures exclude items that Management believes does not most accurately reflect the company's fundamental business performance. These excluded items are reflected in the reconciliation tables of this news release, where applicable. CenterPoint Energy's adjusted income and adjusted diluted earnings per share non-GAAP financial 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.

2020-02-27T06:00:00Z
some_text CenterPoint Energy

View More Tweets ›

 Media Toolkit