CenterPoint Energy linemen helping Entergy Louisiana restore power in Louisiana following Hurricane Barry

Houston – July 15, 2019 – Approximately 70 CenterPoint Energy linemen, contractors and support personnel departed for Baton Rouge, Louisiana yesterday to assist Entergy Louisiana with power restoration efforts after Hurricane Barry.

CenterPoint Energy mutual assistance crews are working 12- to 16-hour days restoring power. "Our linemen are top notch and they are trained to perform in any type of conditions just like they do for our customers at home," said Ed Scott, director of Distribution Operations for CenterPoint Energy.

CenterPoint Energy is part of electric utility mutual assistance programs that provide access to thousands of linemen and tree trimmers from around the country to lend a hand during widespread power outage emergencies. Over the years, CenterPoint Energy crews have restored power to hundreds of thousands of customers throughout the country who were left in the dark following hurricanes, ice storms, tornadoes and severe thunderstorms.

For updates, follow CenterPoint Energy on Facebook and Twitter.

2019-07-15T05:00:00Z
https://www.centerpointenergy.com/en-us/corporate/about-us/news/CenterPoint Energy releases 2018 Corporate Responsibility Report
CenterPoint Energy releases 2018 Corporate Responsibility Report

HOUSTON, July 1, 2019 - CenterPoint Energy, Inc. (NYSE: CNP) today announced the release of its 2018 Corporate Responsibility Report, Shared Impact. The report, which provides an overview of the company's environmental, social, and governance (ESG) performance and strategy, follows the Global Reporting Initiative (GRI) framework and was prepared in accordance with the GRI Standards: Core option. The company has also incorporated both the American Gas Association's and Edison Electric Institute's Version 1 ESG template into its annual reporting activities to better serve its stakeholders.

CenterPoint Energy logo. (PRNewsFoto)

"Our 2018 Corporate Responsibility Report focuses on how we engage with our stakeholders, approach environmental stewardship, support our communities, and provide a safe, inclusive workplace," said Scott Prochazka, president and chief executive officer of CenterPoint Energy. "We continue to make progress in these areas since our first Corporate Responsibility Report was published in 2016."

Highlights include:

Environmental: Filed a proposal with the Minnesota Public Utilities Commission seeking approval to introduce a renewable natural gas (RNG) green tariff pilot program to Minnesota customers. If approved, the company would be one of the first natural gas providers in the United States to offer RNG as part of its commitment to sustainability.

Social: Employees supported more than 400 nonprofit boards and advisory councils through approximately 300 employees serving in volunteer leadership positions. Employees also contributed more than 130,000 employee volunteer hours, which equates to $2.78 million in labor when calculated using the Independent Sector's value of $24.69 for a volunteer hour.

Governance: Established an ESG Council to identify, evaluate and recommend strategic direction and opportunities on an ongoing basis that promote ESG objectives aligned with CenterPoint Energy's vision and long-term strategic plan.

Merger with Vectren

In April 2018, CenterPoint Energy and Vectren Corporation announced their plans to merge and the transaction was successfully completed on Feb. 1, creating a combined company with a unified set of values, vision, strategy and culture. While CenterPoint Energy's 2018 Corporate Responsibility Report covers CenterPoint Energy's legacy activities as of year-end 2018, the 2019 report is expected to include data for the combined company. Legacy Vectren's 2018 GRI Index is available on the Investors section of www.CenterPointEnergy.com.

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 53.8 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 $34 billion in assets, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, visit www.CenterPointEnergy.com.

For more information contact
Media:
Alicia Dixon

Phone  713.207.5885
Investors:
David Mordy

Phone  713.207.6500

 

 

SOURCE CenterPoint Energy, Inc.

2019-07-10T05:00:00Z
As all eyes are on the Gulf, CenterPoint Energy encourages customers to sign up for Power Alert Service® now

Houston – July 9, 2019 – With the potential of a tropical system impacting the Greater Houston area later this week, CenterPoint Energy reminds the public that now is the time to sign up for Power Alert Service (PAS), a system that sends emails, texts, and phone calls to alert Houston-area electric customers of power outages at or near their business or home.

"There is still a lot of uncertainty about the forecast and potential impact to our electric system, but now is the time to take action and sign up for this freeservice," said Gregg Knight, senior vice president and Chief Customer Officer for CenterPoint Energy.

PAS helps minimize the impact of a power outage by alerting customers of outages, estimated restoration times* and when power has been restored. The service is free and alerts arrive within minutes of an outage that occurs at or near a customer's address.

"We are committed to providing innovative ways to keep customers informed during power outages, so they can make informed decisions about what's best for them and their families," added Knight. "PAS provides timely and accurate information about the progress of power restoration efforts."

Customers interested in joining the 1.3 million others in the Houston area who already receive alerts should visit the Power Alert Service page to sign up or update their contact and notification preferences. A total of 15 contact points can be added to send alerts – up to five texts (standard text messaging fees charged by cellphone carrier may apply), five emails and five phone numbers – to each electric account customers manage.

To sign up, customers will need their electric meter number found on their electric bill and should then follow CenterPoint Energy's easy step-by-step instruction guide to register.

In addition to signing up for Power Alert Service for information on individual power outages, CenterPoint Energy encourages customers to:

Standard text messaging fees may apply.

*For outages caused by extensive system-wide damage to CenterPoint Energy's electrical infrastructure from a major event, such as a hurricane, reporting of individual customer restoration times may be temporarily unavailable. Power Alert Service will provide customers with service area information until repair efforts allow for accurate reporting of individual restoration times. 

2019-07-09T05:00:00Z
CenterPoint Energy shares important natural gas safety tips in preparation for potentially severe weather

Houston – July 9, 2019 – CenterPoint Energy continues to monitor the forecasts closely as potentially severe weather heads toward the Gulf of Mexico. The company urges customers to keep important pre- and post-storm natural gas safety tips top-of-mind to stay safe.

  • Do not turn off your natural gas service at the meter in advance of the storm; doing so could allow water to enter the natural gas lines should flooding occur. If you wish to discontinue gas service, turn off the natural gas at each appliance.
  • 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.
  •  If you smell gas, do not turn the lights on or off, smoke, strike a match, use a cell phone or operate anything that might cause a spark, including a flashlight or a generator.
  • Do not attempt to turn natural gas valves on or off. Once safely away from the area, call 888-876-5786 and CenterPoint Energy will send a trained service technician.
  •  If your home was flooded, call a licensed plumber or gas appliance technician to inspect your appliances and gas piping to make sure they are in good operating condition before calling CenterPoint Energy to reconnect service. This includes outdoor gas appliances including pool heaters, gas grills and gas lights.
  • Before cleaning debris, digging on your property or to locate underground natural gas lines and other underground utility lines, call 811, the nationwide Call Before You Dig number.
  • Be aware of where your natural gas meter is located. As debris is put out for heavy trash pickup, make sure it is placed away from the meter. In many areas the meter may be located near the curb. If debris is near a gas meter, the mechanized equipment used by trash collectors could pull up the meter, damaging it and causing a potentially hazardous situation. If this happens, leave the area immediately and call CenterPoint Energy at 888-876-5786,

For more information, natural gas safety tips and other resources, visit CenterPointEnergy.com/WeatherSafety

2019-07-09T05:00:00Z
https://www.centerpointenergy.com/en-us/corporate/about-us/news/CenterPoint Energy releases 2018 Corporate Responsibility Report
CenterPoint Energy releases 2018 Corporate Responsibility Report

HOUSTON, July 1, 2019 - CenterPoint Energy, Inc. (NYSE: CNP) today announced the release of its 2018 Corporate Responsibility Report, Shared Impact. The report, which provides an overview of the company's environmental, social, and governance (ESG) performance and strategy, follows the Global Reporting Initiative (GRI) framework and was prepared in accordance with the GRI Standards: Core option. The company has also incorporated both the American Gas Association's and Edison Electric Institute's Version 1 ESG template into its annual reporting activities to better serve its stakeholders.

CenterPoint Energy logo. (PRNewsFoto)

"Our 2018 Corporate Responsibility Report focuses on how we engage with our stakeholders, approach environmental stewardship, support our communities, and provide a safe, inclusive workplace," said Scott Prochazka, president and chief executive officer of CenterPoint Energy. "We continue to make progress in these areas since our first Corporate Responsibility Report was published in 2016."

Highlights include:

Environmental: Filed a proposal with the Minnesota Public Utilities Commission seeking approval to introduce a renewable natural gas (RNG) green tariff pilot program to Minnesota customers. If approved, the company would be one of the first natural gas providers in the United States to offer RNG as part of its commitment to sustainability.

Social: Employees supported more than 400 nonprofit boards and advisory councils through approximately 300 employees serving in volunteer leadership positions. Employees also contributed more than 130,000 employee volunteer hours, which equates to $2.78 million in labor when calculated using the Independent Sector's value of $24.69 for a volunteer hour.

Governance: Established an ESG Council to identify, evaluate and recommend strategic direction and opportunities on an ongoing basis that promote ESG objectives aligned with CenterPoint Energy's vision and long-term strategic plan.

Merger with Vectren

In April 2018, CenterPoint Energy and Vectren Corporation announced their plans to merge and the transaction was successfully completed on Feb. 1, creating a combined company with a unified set of values, vision, strategy and culture. While CenterPoint Energy's 2018 Corporate Responsibility Report covers CenterPoint Energy's legacy activities as of year-end 2018, the 2019 report is expected to include data for the combined company. Legacy Vectren's 2018 GRI Index is available on the Investors section of www.CenterPointEnergy.com.

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 53.8 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 $34 billion in assets, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, visit www.CenterPointEnergy.com.

For more information contact
Media:
Alicia Dixon
Phone  713.207.5885
Investors:
David Mordy
Phone  713.207.6500

 

SOURCE CenterPoint Energy, Inc.

2019-07-01T05:00:00Z
Clogged sewer? Utility companies encourage “Call Before You Clear” for natural gas and sewer line safety

Minneapolis – June 27, 2019 – If you have a clogged or backed up sewer, natural gas utility companies want to remind you of Call Before You Clear, a safety campaign to raise awareness around intersecting natural gas and sewer lines.  

"By promoting awareness of Call Before You Clear, we feel that we can prevent potential accidents by requesting plumbers, sewer cleaning contractors and customers to call the natural gas utility before cleaning a sewer line," said Tod Norgren, manager of Construction Services for CenterPoint Energy and Call Before You Clear campaign lead. 

Some underground natural gas pipes may be unintentionally installed through sewer pipes – a situation known as a cross bore. Cross bores can be dangerous because the mechanical equipment used to unclog sewer pipes can easily penetrate a natural gas pipe and lead to a dangerous natural gas leak.

Before clearing a sewer line using mechanical equipment such as an auger, plumbers, sewer cleaning contractors and customers should first contact the natural gas utility serving the area. Participating utility companies will examine their records to determine if any potential conflicts exist and whether an in-sewer camera inspection is needed. If so, the utility will send a professionally trained sewer camera contractor to the location to complete an inspection at no extra charge to the customer.

Participating utilities include:

To learn more about the Call Before You Clear campaign, please visit www.callbeforeyouclear.com.

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 primarily 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 53.8 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 $29 billion in assets, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, visit CenterPointEnergy.com.
 


2019-06-27T05:00:00Z
https://www.centerpointenergy.com/en-us/corporate/about-us/news/CenterPoint Energy reports first quarter 2019 earnings of $0.28 per diluted share; $0.46 earnings per diluted share on a guidance basis, excluding impacts associated with the Vectren merger
CenterPoint Energy reports first quarter 2019 earnings of $0.28 per diluted share; $0.46 earnings per diluted share on a guidance basis, excluding impacts associated with the Vectren merger

HOUSTON, May 9, 2019CenterPoint Energy, Inc. (NYSE: CNP) today reported income available to common shareholders of $140 million, or $0.28 per diluted share, for the first quarter of 2019, compared with $165 million, or $0.38 per diluted share for the first quarter of 2018.  On a guidance basis, first quarter 2019 earnings were $0.46 per diluted share, excluding impacts associated with the Vectren merger (the merger).  First quarter 2018 earnings, on a guidance basis, were $0.55 per diluted share. 

CenterPoint Energy logo. (PRNewsFoto)

"I'm pleased with our first quarter results.  While weather-related impacts affected first quarter earnings, we remain confident in our anticipated 2019 full-year performance," said Scott M. Prochazka, president and chief executive officer of CenterPoint Energy. "Our utilities continue to benefit from strong customer growth and recovery mechanisms allowing for timely recovery of capital invested on behalf of our customers."

Business Segments

Houston Electric - Transmission & Distribution

The Houston electric - transmission & distribution segment reported operating income of $84 million for the first quarter of 2019, consisting of $74 million from the regulated electric transmission and distribution utility operations (TDU) and $10 million related to securitization bonds.  Operating income for the TDU for the first quarter of 2019 includes $10 million of merger-related expenses.  Excluding merger-related expenses, first quarter 2019 TDU operating income was $84 million. Operating income for the first quarter of 2018 was $115 million, consisting of $99 million from the TDU and $16 million related to securitization bonds.

Excluding merger-related expenses, operating income for the TDU benefited primarily from rate relief, miscellaneous revenues and customer growth.  These benefits were more than offset by lower usage primarily due to a return to more normal weather in January, lower equity return, primarily related to the annual true-up of transition charges, increased depreciation and amortization expense, higher operation and maintenance expenses and lower revenues related to the Tax Cuts and Jobs Act (TCJA).

Indiana Electric – Integrated

The Indiana electric – integrated segment reported an operating loss of $9 million for the period of February 1, 2019 through March 31, 2019. This operating loss includes $20 million of merger-related expenses.  These results are not comparable to the first quarter of 2018 as this segment was acquired in the merger.

Natural Gas Distribution

The natural gas distribution segment reported operating income of $167 million for the first quarter of 2019. As of February 1, 2019, this segment includes the results of the Indiana and Ohio gas utilities acquired in the merger.  Operating income for the first quarter of 2019 includes $53 million of merger-related expenses.  Excluding merger-related expenses, first quarter 2019 natural gas distribution operating income was $220 million.  Natural gas distribution operating income for the first quarter of 2018 was $156 million.

Excluding merger-related expenses, operating income increased $46 million for the gas utilities acquired in the merger.  The remaining increase is primarily due to rate relief, weather and usage, driven by timing of a decoupling mechanism in Minnesota and customer growth.  These increases were partially offset by lower revenues related to the TCJA, higher operation and maintenance expenses and increased depreciation and amortization expense. 

Energy Services

The energy services segment reported operating income of $33 million for the first quarter of 2019, which included a mark-to-market gain of $19 million, compared with an operating loss of $26 million for the first quarter of 2018, which included a mark-to-market loss of $80 million.  Excluding mark-to-market adjustments, operating income was $14 million for the first quarter of 2019 compared to $54 million for the first quarter of 2018.

Operating income, excluding mark-to-market adjustments, decreased primarily due to a reduction in margin resulting from reduced weather-related opportunities to optimize natural gas costs.  Much of this reduction was anticipated given the very strong first quarter 2018 performance which concentrated annual optimization revenues into the first quarter of 2018.

Infrastructure Services

The infrastructure services segment reported an operating loss of $16 million for the period of February 1, 2019 through March 31, 2019. This operating loss includes $15 million of merger-related expenses. These results are not comparable to the first quarter of 2018 as this segment was acquired in the merger.

Midstream Investments

The midstream investments segment reported $62 million of equity income for the first quarter of 2019, compared with $69 million in the first quarter of 2018.  The decrease in equity income is attributable to a non-cash loss of $11 million from the dilution of ownership in Enable as a result of the vesting of common units under Enable's long-term incentive program recorded in the first quarter of 2019.

Corporate and Other

The corporate and other segment reported an operating loss of $14 million for the first quarter of 2019, compared with operating income of $6 million for the first quarter of 2018.  The operating loss for the first quarter of 2019 includes $16 million of merger-related expenses. 

Earnings Outlook

  • 2018 - 2023 target of 5 - 7% compound annual guidance basis EPS growth, using $1.60 as the starting EPS
  • 2019 guidance basis EPS range of $1.60 - $1.70, excluding certain impacts associated with the merger:
    • Integration and transaction-related fees and expenses, including severance and other costs to achieve the anticipated cost savings as a result of the merger
    • Merger financing impacts in January, prior to the completion of the merger, due to the issuance of debt and equity securities to fund the merger that resulted in higher net interest expense and higher common stock share count
  • 2020 guidance basis EPS range of $1.75 - $1.90

Both the 2019 and 2020 guidance ranges consider 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, commodity prices, recovery of capital invested through rate cases and other rate filings, effective tax rates, financing activities and related interest rates, and regulatory and judicial proceedings as well as the volume of work contracted in our infrastructure services business.  The ranges also consider anticipated cost savings as a result of the merger.  The 2019 guidance range assumes Enable Midstream Partners, LP's (Enable) 2019 guidance range for net income attributable to common units, provided on Enable's 1st quarter earnings call on May 1, 2019.  The 2020 guidance range utilizes a range of CenterPoint Energy scenarios for Enable's 2020 net income attributable to common units. The 2020 range also considers the estimated cost and timing of technology integration projects.

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, including those from Enable, earnings or losses from the change in the value of the ZENS securities and the related stocks, or the timing effects of mark-to-market accounting in the company's Energy Services business, which, along with the certain excluded impacts associated with the merger, 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 and mark-to-market gains or losses resulting from the company's Energy Services business are not estimable as they are highly variable and difficult to predict due to various factors outside of management's control.


 Quarter Ended 


 March 31, 2019 


 March 31, 2018 


 Dollars
in millions 


 Diluted EPS 


 Dollars
in millions 


 Diluted EPS 









Consolidated income available to common shareholders and diluted EPS

$         140


$           0.28


$         165


$           0.38









Timing effects impacting CES(1):








Mark-to-market (gains) losses (net of taxes of $5 and $19)(2)

(14)


(0.03)


61


0.14









ZENS-related mark-to-market (gains) losses:








Marketable securities (net of taxes of $17 and $1) (2)(3)

(66)


(0.13)


-


-

Indexed debt securities (net of taxes of $18 and $3) (2)(4)

68


0.13


15


0.03

Consolidated on a guidance basis

$         128


$           0.25


$         241


$           0.55









Impacts associated with the Vectren merger:








Merger impacts other than the increase in share count (net of taxes of $24) (2)

94


0.19


-


-

Impact of increased share count on EPS

-


0.02


-


-

Total merger impacts

94


0.21


-


-

Consolidated on a guidance basis, excluding impacts associated with the Vectren merger

$         222


$           0.46


$         241


$           0.55


(1) Energy Services segment

(2) Taxes are computed based on the impact removing such item would have on tax expense

(3) As of and after June 14, 2018, comprised of AT&T Inc. and Charter Communications, Inc. Prior to June 14, 2018, comprised of Time Warner Inc. and Charter Communications, Inc.  

Results prior to January 31, 2018 also included Time Inc.

(4) 2018 results include amount associated with the Meredith tender offer for Time Inc. common stock

Filing of Form 10-Q for CenterPoint Energy, Inc.

Today, CenterPoint Energy, Inc. filed with the Securities and Exchange Commission (SEC) its Quarterly Report on Form 10-Q for the quarter ended March 31, 2019.  A copy of that report is available on the company's website, under the Investors section. Other filings the company makes with the SEC and certain documents relating to its corporate governance can also be found under the Investors section. 

Webcast of Earnings Conference Call

CenterPoint Energy's management will host an earnings conference call on Thursday, May 9, 2019, 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.

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 53.8 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 $34 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) changes in tax status; and (G) 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) actions by credit rating agencies, including any potential downgrades to credit ratings; (13) changes in interest rates and their impact on CenterPoint Energy's costs of borrowing and the valuation of its pension benefit obligation; (14) 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 in cost overruns that cannot be recouped in rates; (15) the availability and prices of raw materials and services and changes in labor for current and future construction projects; (16) local, state and federal legislative and regulatory actions or developments relating to the environment, including those related to global climate change, air emissions, carbon, waste water discharges and the handling and disposal of CCR that could impact the continued operation, and/or cost recovery of generation plant costs and related assets; (17) the impact of unplanned facility outages or other closures; (18) 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; (19) CenterPoint Energy's ability to invest planned capital and the timely recovery of CenterPoint Energy's investments, including those related to the generation transition plan; (20) 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; (21) CenterPoint Energy's ability to control operation and maintenance costs; (22) the sufficiency of CenterPoint Energy's insurance coverage, including availability, cost, coverage and terms and ability to recover claims; (23) the investment performance of CenterPoint Energy's pension and postretirement benefit plans; (24) 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; (25) changes in rates of inflation; (26) inability of various counterparties to meet their obligations to CenterPoint Energy; (27) non-payment for CenterPoint Energy's services due to financial distress of its customers; (28) 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; (29) 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; (30) CenterPoint Energy's or Enable's potential business strategies and strategic initiatives, including restructurings, joint ventures and acquisitions or dispositions of assets or businesses (including a reduction of CenterPoint Energy's interests in Enable, if any, whether through CenterPoint Energy's decision to sell all or a portion of the Enable common units it owns in the public equity markets or otherwise, subject to certain limitations), which CenterPoint Energy and Enable cannot assure will be completed or will have the anticipated benefits to CenterPoint Energy or Enable; (31) 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; (32) acquisition and merger activities involving CenterPoint Energy or its competitors, including the ability to successfully complete merger, acquisition and divestiture plans; (33) CenterPoint Energy's or Enable's ability to recruit, effectively transition and retain management and key employees and maintain good labor relations; (34) the outcome of litigation; (35) 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; (36) changes in technology, particularly with respect to efficient battery storage or the emergence or growth of new, developing or alternative sources of generation; (37) the timing and outcome of any audits, disputes and other proceedings related to taxes; (38) the effective tax rates; (39) the effect of changes in and application of accounting standards and pronouncements; and (40) other factors discussed in CenterPoint Energy's Annual Report on Form 10-K for the fiscal year ended December 31, 2018, CenterPoint Energy's Quarterly Report on Form 10-Q for the quarter ended March 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. CenterPoint Energy's adjusted income and adjusted diluted earnings per share calculation excludes from income available to common shareholders and diluted earnings per share, respectively, the impact of ZENS and related securities and mark-to-market gains or losses resulting from the company's Energy Services business. CenterPoint Energy's guidance for 2019 also does not reflect certain impacts associated with the Vectren merger, which are integration and transaction-related fees and expenses, including severance and other costs to achieve anticipated cost savings as a result of the merger and merger financing impacts in January, prior to the completion of the merger due to the issuance of debt and equity securities to fund the merger that resulted in higher net interest expense and higher common stock share count. CenterPoint Energy is unable to present a quantitative reconciliation of forward looking adjusted income and adjusted diluted earnings per share because changes in the value of ZENS and related securities and mark-to-market gains or losses resulting from the company's Energy Services business are not estimable as they are highly variable and difficult to predict due to various factors outside of management's control.  These excluded items, along with the excluded impacts associated with the merger, could have a material impact on GAAP reported results for the applicable guidance period.

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.

 

CenterPoint Energy, Inc. and Subsidiaries

Condensed Statements of Consolidated Income

(Unaudited)



Quarter Ended March 31,


2019


2018


(in millions)

Revenues:




Utility revenues

$

2,161



$

1,894


Non-utility revenues

1,370



1,261


Total

3,531



3,155


Expenses:




Utility natural gas, fuel and purchased power

735



637


Non-utility cost of revenues, including natural gas

1,251



1,273


Operation and maintenance

861



569


Depreciation and amortization

313



314


Taxes other than income taxes

126



111


Total

3,286



2,904


Operating Income

245



251


Other Income (Expense):




Gain on marketable securities

83



1


Loss on indexed debt securities

(86)



(18)


Interest and other finance charges

(121)



(78)


Interest on securitization bonds

(12)



(16)


Equity in earnings of unconsolidated affiliates

62



69


Other income, net

20



3


Total

(54)



(39)


Income Before Income Taxes

191



212


Income tax expense

22



47


Net Income

169



165


Preferred stock dividend requirement

29




Income Available to Common Shareholders

$

140



$

165






Reference is made to the Combined Notes to Unaudited Condensed Consolidated Financial Statements

contained in the Quarterly Report on Form 10-Q of CenterPoint Energy, Inc.

 

CenterPoint Energy, Inc. and Subsidiaries

Selected Data From Statements of Consolidated Income

(Unaudited)



Quarter Ended March 31,


2019


2018


(in millions, except share and per share amounts)

Basic Earnings Per Common Share

$

0.28



$

0.38


Diluted Earnings Per Common Share

$

0.28



$

0.38


Dividends Declared per Common Share

$



$


Dividends Paid per Common Share

$

0.2875



$

0.2775


Weighted Average Common Shares Outstanding (000):




- Basic

501,521



431,231


- Diluted

503,944



434,008






Operating Income (Loss) by Reportable Segment




Houston Electric T&D:




TDU

$

74



$

99


Bond Companies

10



16


Total Houston Electric T&D

84



115


Indiana Electric Integrated

(9)




Natural Gas Distribution

167



156


Energy Services

33



(26)


Infrastructure Services

(16)




Corporate and Other

(14)



6


Total

$

245



$

251






Reference is made to the Combined Notes to Unaudited Condensed Consolidated Financial Statements

contained in the Quarterly Report on Form 10-Q of CenterPoint Energy, Inc.

 

CenterPoint Energy, Inc. and Subsidiaries

Results of Operations by Segment

(Unaudited)



Houston Electric T&D



Quarter Ended March 31,


% Diff



2019


2018


Fav/Unfav



(in millions, except throughput and customer data)



Revenues:







TDU


$

595



$

598



(1)

%

Bond Companies


94



153



(39)

%

Total


689



751



(8)

%

Expenses:







Operation and maintenance, excluding Bond Companies


366



340



(8)

%

Depreciation and amortization, excluding Bond Companies


93



98



5

%

Taxes other than income taxes


62



61



(2)

%

Bond Companies


84



137



39

%

Total


605



636



5

%

Operating Income


$

84



$

115



(27)

%

Operating Income:







TDU


$

74



$

99



(25)

%

Bond Companies


10



16



(38)

%

Total Segment Operating Income


$

84



$

115



(27)

%

Actual MWH Delivered







Residential


5,182,639


5,604,862


(8)

%

Total


19,018,985


19,643,755


(3)

%

Weather (percentage of 10-year average for service area):







Cooling degree days


91

%


170

%


(79)

%

Heating degree days


90

%


93

%


(3)

%

Number of metered customers - end of period:







Residential


2,206,563


2,171,715


2

%

Total


2,494,761


2,453,844


2

%














Indiana Electric Integrated (1)







Quarter Ended
March 31,







2019







(in millions, except  throughput and customer data)

Revenues






$

83


Expenses:







Utility natural gas, fuel and purchased power




26


Operation and maintenance






48


Depreciation and amortization





16


Taxes other than income taxes





2


Total expenses






92


Operating Loss






$

(9)


Actual MWH Delivered







Retail






704

Wholesale






58

Total






762

Number of metered customers at end of period:







Residential






128,194

Total






147,047








(1) Represents February 1, 2019 through March 31, 2019 results only due to the Merger.









Natural Gas Distribution (1)



Quarter Ended March 31,


% Diff



2019


2018


Fav/Unfav



(in millions, except throughput and customer data)



Revenues


$

1,399



$

1,153



21

%

Utility natural gas, fuel and purchased power


771



667



(16)

%

Gross Margin


628



486



29

%

Expenses:







Operation and maintenance


307



213



(44)

%

Depreciation and amortization


95



68



(40)

%

Taxes other than income taxes


59



49



(20)

%

Total


461



330



(40)

%

Operating Income


$

167



$

156



7

%

Throughput data in BCF







Residential


114



87



31

%

Commercial and Industrial


136



94



45

%

Total Throughput


250



181



38

%

Weather (average for service area)







Percentage of 10-year average:







Heating degree days


103

%


99

%


4

%

Number of customers - end of period:







Residential


4,219,795


3,220,262


31

%

Commercial and Industrial


350,419


257,806


36

%

Total


4,570,214


3,478,068


31

%








(1) Includes acquired natural gas operations' February 1, 2019 through March 31, 2019 results only due to the Merger.


Energy Services



Quarter Ended March 31,


% Diff



2019


2018


Fav/Unfav



(in millions, except for throughput and customer data)



Revenues


$

1,246



$

1,285



(3)

%

Non-utility cost of revenues, including natural gas


1,182



1,281



8

%

Gross Margin


64



4



1,500

%

Expenses:







Operation and maintenance


25



25




Depreciation and amortization


5



5




Taxes other than income taxes


1






Total


31



30



(3)

%

Operating Income (Loss)


$

33



$

(26)



227

%

Timing impacts of mark-to-market gain (loss)


$

19



$

(80)



124

%

Throughput data in BCF


379



375



1

%

Number of customers - end of period


30,000



30,000
























Infrastructure

 Services (1)







Quarter Ended
March 31,







2019







(in millions)

Revenues






$

146


Non-utility cost of revenues, including natural gas



43


Gross Margin






103


Expenses:







Operation and maintenance





110


Depreciation and amortization



9


Total expenses






119


Operating Loss






$

(16)


Backlog:







Blanket contracts






$

541


Bid contracts






455


Total






$

996









(1) Represents February 1, 2019 through March 31, 2019 results only due to the Merger.









Corporate and Other



Quarter Ended March 31,


% Diff



2019


2018


Fav/Unfav



(in millions)



Revenues


$

42



$

4



950

%

Expenses:







Non-utility cost of revenues, including natural gas


37






Operation and maintenance


4



(12)



(133)

%

Depreciation and amortization


13



8



(63)

%

Taxes other than income taxes


2



2




Total expenses


56



(2)



(2,900)

%

Operating Income (Loss)


$

(14)



$

6



(333)

%








Reference is made to the Combined Notes to Unaudited Condensed Consolidated Financial Statements

contained in the Quarterly Report on Form 10-Q of CenterPoint Energy, Inc.

 

CenterPoint Energy, Inc. and Subsidiaries

Results of Operations by Segment

(Unaudited)


Capital Expenditures by Segment


Quarter Ended March 31,


2019


2018


(in millions)

Houston Electric T & D

$

235



$

207


Indiana Electric Integrated (1)

37




Natural Gas Distribution (1)

166



93


Energy Services

3



5


Infrastructure Services (1)

19




Corporate and Other (1)

68



18


Total

$

528



$

323






(1) Includes capital expenditures of acquired businesses from February 1, 2019 through March 31, 2019 only due to the Merger.





Interest Expense Detail


Quarter Ended March 31,


2019


2018


(in millions)

Amortization of Deferred Financing Cost

$

7



$

5


Capitalization of Interest Cost

(9)



(2)


Securitization Bonds Interest Expense

12



16


Other Interest Expense

123



75


Total Interest Expense

$

133



$

94



Reference is made to the Combined Notes to Unaudited Condensed Consolidated Financial Statements

contained in the Quarterly Report on Form 10-Q of CenterPoint Energy, Inc.

 

CenterPoint Energy, Inc. and Subsidiaries

Condensed Consolidated Balance Sheets

(Unaudited)



March 31,


December 31,


2019


2018


(in millions)

ASSETS

Current Assets:




Cash and cash equivalents

$

255



$

4,231


Other current assets

3,164



2,794


Total current assets

3,419



7,025






Property, Plant and Equipment, net

19,512



14,044






Other Assets:




Goodwill

5,129



867


Regulatory assets

2,229



1,967


Investment in unconsolidated affiliate

2,471



2,482


Preferred units – unconsolidated affiliate

363



363


Other non-current assets

779



261


Total other assets

10,971



5,940


Total Assets

$

33,902



$

27,009






LIABILITIES AND SHAREHOLDERS' EQUITY

Current Liabilities:




Current portion of securitization bonds long-term debt

347



458


Indexed debt

23



24


Current portion of other long-term debt

32




Other current liabilities

2,737



2,820


Total current liabilities

3,139



3,302






Other Liabilities:




Accumulated deferred income taxes, net

3,824



3,239


Regulatory liabilities

3,449



2,525


Other non-current liabilities

1,515



1,203


Total other liabilities

8,788



6,967






Long-term Debt:




Securitization bonds

914



977


Other

12,845



7,705


Total long-term debt

13,759



8,682






Shareholders' Equity

8,216



8,058


Total Liabilities and Shareholders' Equity

$

33,902



$

27,009



Reference is made to the Combined Notes to Unaudited Condensed Consolidated Financial Statements

contained in the Quarterly Report on Form 10-Q of CenterPoint Energy, Inc.

 

CenterPoint Energy, Inc. and Subsidiaries

Condensed Statements of Consolidated Cash Flows

(Unaudited)



Three Months Ended March 31,


2019


2018


(in millions)

Net income

$

169



$

165


Adjustments to reconcile net income to net cash provided by operating activities:




Depreciation and amortization

329



320


Deferred income taxes

(14)



(17)


Write-down of natural gas inventory

1



1


Equity in earnings of unconsolidated affiliate, net of distributions

12



(9)


Changes in net regulatory assets

(3)



42


Changes in other assets and liabilities

(218)



(20)


Other, net

(5)



2


Net cash provided by operating activities

271



484






Net cash used in investing activities

(6,539)



(331)






Net cash provided by (used in) financing activities

2,345



(192)






Net Decrease in Cash, Cash Equivalents and Restricted Cash

(3,923)



(39)






Cash, Cash Equivalents and Restricted Cash at Beginning of Period

4,278



296






Cash, Cash Equivalents and Restricted Cash at End of Period

$

355



$

257



Reference is made to the Combined Notes to Unaudited Condensed Consolidated Financial Statements

contained in the Quarterly Report on Form 10-Q of CenterPoint Energy, Inc.

 

For more information contact
Media:
Alicia Dixon
Phone      713.825.9107
Investors:
David Mordy
Phone      713.207.6500

 

SOURCE CenterPoint Energy, Inc.

2019-06-14T05:00:00Z
https://www.centerpointenergy.com/en-us/corporate/about-us/news/CenterPoint Energy reports 2019 annual shareholder meeting results
CenterPoint Energy reports 2019 annual shareholder meeting results

HOUSTON, April 25, 2019 - CenterPoint Energy, Inc. (NYSE: CNP) announced the results of the voting by shareholders at its 2019 annual meeting held today. Shareholders approved the following proposals:

  • The election of Leslie D. Biddle, Milton Carroll, Scott J. McLean,
    Martin H. Nesbitt, Theodore F. Pound, Scott M. Prochazka,
    Susan O. Rheney, Phillip R. Smith, John W. Somerhalder II and
    Peter S. Wareing to serve on the company's Board of Directors for one-year terms; 
  • The ratification of the appointment of Deloitte & Touche LLP as the company's independent registered public accounting firm for 2019; and
  • An advisory resolution on the compensation paid to the company's named executive officers as disclosed in the proxy statement.

CenterPoint Energy logo. (PRNewsFoto)

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 54.0 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 $29 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:
Communications
Media.Relations@CenterPointEnergy.com
Investors:
Dave Mordy
Phone      713.207.6500

 

SOURCE CenterPoint Energy, Inc.

2019-06-14T05:00:00Z
https://www.centerpointenergy.com/en-us/corporate/about-us/news/CenterPoint Energy declares second quarter common stock dividend of $0.2875 and Series B Preferred Stock dividend of $17.5000
CenterPoint Energy declares second quarter common stock dividend of $0.2875 and Series B Preferred Stock dividend of $17.5000

HOUSTON, April 25, 2019 - CenterPoint Energy, Inc.'s (NYSE: CNP) board of directors today declared dividends on shares of its common stock and Series B Mandatory Convertible Preferred Stock for the second quarter of 2019.

CenterPoint Energy logo. (PRNewsFoto)

Common Stock Dividend

The company's board of directors declared a regular quarterly cash dividend of $0.2875 per share of common stock payable on June 13, 2019 to shareholders of record as of the close of business on May 16, 2019.

Series B Preferred Stock Dividend

The company's board of directors declared a regular quarterly cash dividend of $17.5000 per share on its 7.00% Series B Mandatory Convertible Preferred Stock payable on June 3, 2019 to shareholders of record as of the close of business on May 15, 2019. This equates to $0.8750 per depositary share (NYSE: CNPPRB), each of which represents a 1/20th interest in a share of the Series B Mandatory Convertible Preferred Stock.

This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based upon assumptions of management which are believed to be reasonable at the time made and are subject to significant risks and uncertainties. Actual events and results may differ materially from those expressed or implied by these forward-looking statements. Any statements in this news release regarding future events 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.

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 54.0 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 $29 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:
Communications
Media.Relations@CenterPointEnergy.com
Investors:
Dave Mordy
Phone      713.207.6500

 

SOURCE CenterPoint Energy, Inc.

2019-06-14T05:00:00Z
https://www.centerpointenergy.com/en-us/corporate/about-us/news/CenterPoint Energy appoints Xia Liu executive vice president and chief financial officer
CenterPoint Energy appoints Xia Liu executive vice president and chief financial officer

HOUSTON, April 18, 2019 - CenterPoint Energy, Inc. (NYSE: CNP) today announced the appointment of Xia Liu as executive vice president and chief financial officer, effective April 22. Liu will report to CenterPoint Energy president and chief executive officer Scott M. Prochazka and oversee the company's finance organization, including accounting, corporate strategy, financial planning, commercial risk, investor relations, treasury, tax and enterprise performance measurement. She will serve as a member of CenterPoint Energy's senior leadership team.

Xia Liu, Executive Vice President & Chief Financial Officer for CenterPoint Energy

"With a proven track record of more than 20 years of finance and regulatory experience and a deep knowledge of the energy delivery business, I am confident that Xia will contribute immediately to advancing our vision to lead the nation in delivering energy, service and value," said Prochazka. "Given her background and accomplishments, Xia will be instrumental in providing financial and strategic leadership to help drive CenterPoint Energy's performance following our recent merger with Vectren."

Liu joins CenterPoint Energy from The Southern Company and its subsidiary companies where she held roles of increasing responsibility over the past 20 years. Most recently, Liu served as executive vice president, chief financial officer and treasurer of Georgia Power Company in Atlanta. In this capacity, she oversaw accounting, financial planning and analysis, budgeting, treasury and internal controls. Prior to this role, Liu was vice president, chief financial officer and treasurer for Gulf Power Company in Pensacola, Fla., where she was responsible for accounting, financial planning and analysis, budgeting, treasury, internal controls, regulatory, rates and pricing, and forecasting functions. She also served as senior vice president of finance and treasurer for Southern Company.   

"CenterPoint Energy is a strong, diversified company with a commitment to safely meet the needs of a growing customer base and realize financial growth," said Liu. "I look forward to collaborating with the leadership team to drive value for our shareholders, customers and communities, while enhancing growth opportunities for our businesses."

Liu earned a bachelor's degree and master's degree in finance from Renmin University of China and a master's degree in business administration from Emory University. She also completed two years of study in the Ph.D. in Economics program at Emory University.

Liu is a chartered financial analyst (CFA), an International Woman's Forum Leadership Foundation fellow, and has attended executive programs at Harvard University and INSEAD School of France.

Active in her community, Liu has served on numerous boards of directors, including the Atlanta Symphony Orchestra, the Pensacola Symphony Orchestra, Florida TaxWatch and Gulf Coast Health Systems. Liu currently serves on the board of Public Broadcasting of Atlanta, Georgia Council on Economic Education and the PACT World Organization, a non-profit international development organization that works to improve the lives of those challenged by poverty. She is also a graduate of Leadership Atlanta. 

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 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 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, 2018 and other reports CenterPoint Energy or its subsidiaries may file from time to time with the Securities and Exchange Commission.

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 54.0 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 $29 billion in assets, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, visit CenterPointEnergy.com.

Media:
Alicia Dixon

Phone 713.207.5885
Investors:
David Mordy

Phone 713.207.6500

 

CenterPoint Energy logo. (PRNewsFoto)

SOURCE CenterPoint Energy, Inc.

2019-06-14T05:00:00Z
some_text CenterPoint Energy

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