CenterPoint Energy implements independent board leadership and governance structure

HoustonJuly 22, 2021 – CenterPoint Energy, Inc. (NYSE: CNP) ("CenterPoint" or the "Company") today announced the unanimous decision of the CenterPoint Board's Independent Directors to implement a new independent board leadership and governance structure. The Board named Martin Nesbitt, chair of the Nominating and Governance Committee, as its new independent board chairman, effective immediately.

  • Martin Nesbitt appointed as Independent Chairman of the Board, effective immediately
  • Independent directors eliminate Executive Chairman role
  • Milton Carroll to depart from Executive Chairman position, effective immediately, and from the Board on September 30 
  • Independent directors implement a multi-year retention arrangement for President and CEO Dave Lesar

To institute the Company's new governance structure, this independent seat replaces the position of Executive Chairman. This position has been eliminated by the independent directors of the board, effective immediately. In connection with these decisions by the independent directors, Milton Carroll departs from the Executive Chairman position and as an employee of the Company, effective immediately, and from the Board as a director, effective September 30 of this year, each substantially in advance of Mr. Carroll's current mandatory retirement date in 2023.

CenterPoint's Board, based on extensive feedback from shareholders and evaluation of evolving governance practices, determined that now is the right time to execute this significant leadership and governance transition as the company continues to advance its well-received strategic plan to drive sustainable value for the benefit of all its stakeholders. In connection with today's leadership and governance transition, the Company entered into a multi-year retention grant arrangement with President and CEO Dave Lesar to retain his continued leadership, and to provide executive management continuity, drive successful execution of CenterPoint's value-creation strategy, and provide executive leadership succession planning. The arrangements entered into with Mr. Carroll and Mr. Lesar will be publicly filed on Form 8-K.

Mr. Nesbitt said, "CenterPoint is a backbone of economic vitality and reliable energy delivery for the communities we serve, and CenterPoint's importance is a central part of Milton Carroll's legacy. As we continue to seize opportunities ahead of us, I believe that our unique value proposition will be further strengthened by CenterPoint's commitment to strong corporate governance, including through the leadership and governance transition we announce today. I am honored to have been selected to lead CenterPoint as independent Chairman of the Board and on behalf of the Board, we express our deepest gratitude and respect for Milton, who has served CenterPoint and its stakeholders tirelessly for nearly 30 years. Milton has been a steady source of inspiration, leadership and guidance to all who have known him, and his stewardship and commitment to CenterPoint's success have been unmatched. Milton was instrumental in the creation of CenterPoint, provided initial board leadership and with the help of many others, navigated CenterPoint through the difficult transition of the early days of the deregulation of the Texas electrical market. He then helped lead the company to where it is today – stronger than ever, with a market capitalization near its historic high. I look forward to continuing to work closely with our incredible CEO Dave Lesar, who has demonstrated tremendous energy and accomplishment since he became CEO only a year ago."

Mr. Carroll said, "In the nearly 30 years since I joined CenterPoint's Board in 1992 and during my time as Executive Chairman of the Board, CenterPoint has successfully navigated industry, energy and regulatory challenges, business transitions and changes in our nation and communities. Thanks to our great CenterPoint team, we are an indelible part of the fabric and history of Texas and the other territories we serve. I am excited to see how CenterPoint continues to evolve under the leadership of Marty and Dave and reach even greater heights of potential and promise. It has been an honor to serve as Chairman and then Executive Chairman alongside my fellow directors."

Mr. Lesar said, "We have been on a very focused mission over the past year to unlock the untapped power and potential within this company, its premium regulated utilities and its exceptional talent. Milton has been a critical partner throughout this journey, and with our utility-focused strategy, we are now taking advantage of the robust capital investment opportunities available to us and are firmly on the path to exit our midstream investments and progress our renewable energy growth objectives. I believe the best is yet to come, and I couldn't be more excited to continue my commitment to CenterPoint's future success and the development of its next phase of leadership over the coming years. On behalf of myself and all our employees, I am deeply grateful to Milton for laying CenterPoint's strong foundation and positioning the company so well for this new era. I am excited for our future and look forward to discussing our second quarter results."

About Marty Nesbitt

Martin H. Nesbitt has been a director since April 2018 and will now serve as the independent Chairman of CenterPoint's Board. Since 2013, he has served as Co-Chief Executive Officer of The Vistria Group, LLC, a Chicago-based investment firm focused on the education, healthcare and financial services industries. Prior to co-founding Vistria, Mr. Nesbitt served as Chief Executive Officer of PRG Parking Management (known as The Parking Spot), an owner and operator of off-airport parking facilities, from 1996 to 2012. Prior to The Parking Spot, Mr. Nesbitt also served as officer of the Pritzker Realty Group, L.P. and as Vice President and Investment Manager at LaSalle Partners, with a variety of responsibilities including investment management for regional retail properties. Mr. Nesbitt has served on the Boards of Directors of American Airlines Group, Inc. since 2015 and Chewy, Inc. since 2020. He also previously served on the Board of Directors of Jones Lang LaSalle.  He is a Trustee of Chicago's Museum of Contemporary Art and serves as Chairman of the Barack Obama Foundation. He previously served as a director of Norfolk Southern Corporation from 2013 to May 2019.

About CenterPoint Energy, Inc.

As the only investor-owned electric and gas utility based in Texas, CenterPoint Energy, Inc. (NYSE: CNP) is an energy delivery company with electric transmission and distribution, power generation and natural gas distribution operations that serve more than 7 million metered customers in Arkansas, Indiana, Louisiana, Minnesota, Mississippi, Ohio, Oklahoma and Texas. As of March 31, 2021, the company owned approximately $36 billion in assets and also owned 53.7 percent of the common units representing limited partner interests in Enable Midstream Partners, LP, a publicly traded master limited partnership that owns, operates and develops strategically located natural gas and crude oil infrastructure assets. With approximately 9,500 employees, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, visit CenterPointEnergy.com.

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 "continue," "could," "expect," "intend," "may," "plan," "potential," "should," "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 executive management continuity and succession planning, the benefits of leadership and governance transitions, corporate governance commitments, strategic plans and value creation, capital investments, business opportunities, future financial performance and results of operations, expectations regarding our midstream investments and renewable energy growth objectives, and any other statements that are not historical facts are forward-looking statements. Each forward-looking statement contained in this news release speaks only as of the date of this release. Important factors that could cause actual results to differ materially from those indicated by the provided forward-looking information include risks and uncertainties relating to: (1) the impact of COVID-19; (2) financial market conditions; (3) general economic conditions; (4) the timing and impact of future regulatory and legislative decisions; (5) effects of competition; (6) weather variations; (7) changes in business plans; and (8) other factors, risks and uncertainties discussed in CenterPoint Energy's Annual Report on Form 10-K for the fiscal year ended December 31, 2020, CenterPoint Energy's Quarterly Report on Form 10-Q for the quarter ended March 31, 2021 and other reports CenterPoint Energy or its subsidiaries may file from time to time with the Securities and Exchange Commission.

 

2021-07-22T05:00:00Z
https://www.centerpointenergy.com/en-us/corporate/about-us/news/CenterPoint Energy declares regular Common Stock dividend of $0.1600, Series A Preferred Stock dividend of $30.6250 and Series B Preferred Stock dividend of $17.5000
CenterPoint Energy declares regular Common Stock dividend of $0.1600, Series A Preferred Stock dividend of $30.6250 and Series B Preferred Stock dividend of $17.5000

HOUSTON, July 21, 2021 - CenterPoint Energy, Inc.'s (NYSE: CNP) board of directors today declared dividends on shares of its Common Stock, Series A Perpetual Preferred Stock and Series B Mandatory Convertible Preferred Stock.

Common Stock Dividend

The company's board of directors declared a regular quarterly cash dividend of $0.1600 per share on the issued and outstanding shares of Common Stock payable on September 9, 2021 to shareholders of record at the close of business on August 19, 2021.

Series A Preferred Stock Dividend

The company's board of directors declared a regular semiannual cash dividend of $30.6250 per share on the issued and outstanding shares of Series A Preferred Stock payable September 1, 2021 to shareholders of Series A Preferred Stock of record at the close of business on August 15, 2021.

Series B Preferred Stock Dividend

The company's board of directors declared a regular quarterly cash dividend of $17.5000 per share on the issued and outstanding shares of Series B Preferred Stock payable September 1, 2021 to shareholders of Series B Preferred Stock of record at the close of business on August 15, 2021. 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 Preferred Stock.

About CenterPoint Energy
As the only investor-owned electric and gas utility based in Texas, CenterPoint Energy, Inc. (NYSE: CNP) is an energy delivery company with electric transmission and distribution, power generation and natural gas distribution operations that serve more than 7 million metered customers in Arkansas, Indiana, Louisiana, Minnesota, Mississippi, Ohio, Oklahoma and Texas. As of March 31, 2021, the company owned approximately $36 billion in assets and also owned 53.7 percent of the common units representing limited partner interests in Enable Midstream Partners, LP, a publicly traded master limited partnership that owns, operates and develops strategically located natural gas and crude oil infrastructure assets. With approximately 9,500 employees, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, visit CenterPointEnergy.com.

For more information, contact
Media:
Communications
Media.Relations@CenterPointEnergy.com  
Investors:
Philip Holder / Jackie Richert
Phone: 713.207.6500

 

SOURCE CenterPoint Energy, Inc.

2021-07-21T05:00:00Z
Landmark new law will help advance Minnesota’s clean energy future

Minneapolis – July 6, 2021 – A landmark new state law will help Minnesota's natural gas utilities move forward with development of innovative clean energy resources and technologies, including made-in-Minnesota renewable natural gas and green hydrogen.

Passed with bipartisan support during the June special legislative session and signed into law by Gov. Tim Walz, the Natural Gas Innovation Act was proposed by CenterPoint Energy, Minnesota's largest natural gas utility serving more than 890,000 residential and business customers.

"Natural gas is indispensable to meeting Minnesota's energy needs," said Brad Tutunjian, CenterPoint Energy Vice President-Minnesota Region. "We're committed to delivering reliable, affordable energy while also pursuing innovative solutions to help our customers limit the climate impact of their natural gas use. This new law will help promote new Minnesota-produced, low-carbon or zero-carbon gas resources that can diversify the state's energy supply, improve waste management and support new economic development."

The law creates a state regulatory policy that offers new opportunities for a natural gas utility to provide customers access to renewable energy resources and innovative technologies that reduce the state's greenhouse gas emissions. The Minnesota Public Utilities Commission must review and approve a utility's "innovation plan," with a limit on the cost impact for ratepayers.

CenterPoint Energy will likely submit its first innovation plan under the new law as soon as next year. Examples of innovation allowed by the new law include:

  • Renewable natural gas produced by recycling biogas from organic materials such as agricultural manure, wastewater, food waste and agricultural or forest waste;
  • Green hydrogen produced by using renewable electricity to split water to create a carbon-free gas that can be blended with conventional natural gas;
  • End-use carbon capture technology that converts emissions from natural gas space or water heating equipment into a powder which can be recycled into commercial products; and
  • Leading-edge energy efficiency technologies that would not be eligible for funding through the existing Conservation Improvement Program.

A broad-based coalition of groups supported the legislation, including the Laborers' International Union of North America (LIUNA), Minnesota Pipe Trades Association, Center for Energy and Environment (CEE), Agricultural Utilization Research Institute (AURI), Partnership on Waste and Energy, and Conservation Minnesota.

The legislation was authored by Rep. Zack Stephenson (DFL-District 36A), of Coon Rapids, and Sen. Bill Weber (R-District 22), of Luverne.

"The Natural Gas Innovation Act is a major opportunity for Minnesota to build on the important clean energy success we have already achieved," said Rep. Stephenson, who is Chair of the House Commerce Committee and a member of the House Energy and Climate Finance and Policy Committee. "This new law creates a forward-looking framework that will help our natural gas utilities innovate and invest in renewable resources to address climate change and continue Minnesota's clean energy transition."

"The Natural Gas Innovation Act provides a responsible pathway for our state's energy future by prioritizing new technology and homegrown, made-in-Minnesota resources," said Sen. Weber, who serves as Assistant Senate Majority Leader. "In particular, renewable natural gas made from agricultural waste holds great economic potential for Minnesota's farmers and rural communities, while also protecting the environment and helping Minnesota meet its energy needs."

To learn more, visit CenterPointEnergy.com/CleanEnergyMN

About CenterPoint Energy

As the only investor-owned electric and gas utility based in Texas, CenterPoint Energy, Inc. (NYSE: CNP) is an energy delivery company with electric transmission and distribution, power generation and natural gas distribution operations that serve more than 7 million metered customers in Arkansas, Indiana, Louisiana, Minnesota, Mississippi, Ohio, Oklahoma and Texas. As of March 31, 2021, the company owned approximately $36 billion in assets and also owned 53.7 percent of the common units representing limited partner interests in Enable Midstream Partners, LP, a publicly traded master limited partnership that owns, operates and develops strategically located natural gas and crude oil infrastructure assets. With approximately 9,500 employees, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, visit CenterPointEnergy.com.

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 "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "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 anticipated impact and benefits of the Natural Gas Innovation Act, including opportunities related to the development of energy resources and technologies as well as the expected benefits to customers, climate and the economy, the timing of the submission of an innovation plan under the new law and associated regulatory approval, and any other statements that are not historical facts are forward-looking statements. Each forward-looking statement contained in this news release speaks only as of the date of this release. Important factors that could cause actual results to differ materially from those indicated by the provided forward-looking information include risks and uncertainties relating to: (1) the impact of COVID-19; (2) financial market conditions; (3) general economic conditions; (4) the timing and impact of future regulatory and legislative decisions; (5) effects of competition; (6) weather variations; (7) changes in business plans; and (8) other factors, risks and uncertainties discussed in CenterPoint Energy's Annual Report on Form 10-K for the fiscal year ended December 31, 2020, CenterPoint Energy's Quarterly Report on Form 10-Q for the quarter ended March 31, 2021 and other reports CenterPoint Energy or its subsidiaries may file from time to time with the Securities and Exchange Commission.

2021-07-06T05:00:00Z
CenterPoint Energy Foundation and company vendors and suppliers contribute more than $3 million to support severe winter weather relief and recovery efforts

Houston – June 21, 2021 – CenterPoint Energy today announced that through contributions from both its charitable foundation and generous donations from its vendors and suppliers, more than $3 million has been donated to the Houston-Harris County Winter Storm Relief Fund. The Relief Fund, which was established by Houston Mayor Sylvester Turner and Harris County Judge Lina Hidalgo, is aimed at supporting low-income Houstonians without insurance who were impacted by February's severe winter weather.

Dave Lesar, President and Chief Executive Officer of CenterPoint Energy, and Chair of the Relief Fund's Advisory Board, said, "We are deeply grateful for all of our vendors and suppliers who gave so generously to the Relief Fund. Led by Quanta Services' donation of $1 million, these funds are going a long way in helping the fund fulfill its mission of meeting the unmet needs of families who need additional help recovering and filling the gaps that may not be met by other local and federal efforts."

The Greater Houston Community Foundation and United Way of Greater Houston jointly oversee and administer the grant distribution process with the help of a grants committee, which includes local philanthropic professionals. To date, $17 million in donations has been pledged to the fund by generous companies and individuals and more than $13.1 million has been distributed through a network of Houston area nonprofits for relief efforts. A final round of grants will be distributed later this month.

CenterPoint Energy would like to recognize the following vendors and suppliers for their contributions:

  • Accenture
  • Akin Gump Strauss Hauer & Feld LLP
  • Baker Botts LLP
  • Burns & McDonnell
  • Central Moloney, Inc.
  • Cisco
  • Deloitte
  • EN Engineering
  • Hewlett Packard Foundation
  • Homeserve
  • Irby, a Sonepar Company
  • Itron
  • J.P. Morgan
  • Love Advertising
  • Magna Legal Services
  • MRC Global
  • MRE Consulting
  • Osmose Utility Services
  • PwC
  • Quanta Services, Inc.
  • R&D Strategic Solutions
  • Shipley Snell Montgomery LLP
  • United Healthcare Retiree Solutions
  • Utegration
  • Wise Men Consultants, Inc.

About CenterPoint Energy

As the only investor-owned electric and gas utility based in Texas, CenterPoint Energy, Inc. (NYSE: CNP) is an energy delivery company with electric transmission and distribution, power generation and natural gas distribution operations that serve more than 7 million metered customers in Arkansas, Indiana, Louisiana, Minnesota, Mississippi, Ohio, Oklahoma and Texas. The CenterPoint Energy Foundation is a charitable giving organization focused on strengthening the quality of life in the communities served by the company. For more information, visit CenterPointEnergy.com.

2021-06-21T05:00:00Z
CenterPoint Energy continues to monitor active system in the Gulf of Mexico

LAKE CHARLES, La. – June 17, 2021 – 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.

Natural Gas Safety

  • 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.

No two storms are alike and, as was the case with Hurricane Harvey, flooding can have a significant impact on natural gas operations. For information on natural gas safety, and other resources, visit CenterPointEnergy.com/WeatherSafety.

2021-06-17T05:00:00Z
https://www.centerpointenergy.com/en-us/corporate/about-us/news/CenterPoint Energy proposes next step in Smart Energy Future Plan
CenterPoint Energy proposes next step in Smart Energy Future Plan

EVANSVILLE, Ind., June 17, 2021 - CenterPoint Energy (NYSE: CNP) today announced the filing of an application with the Indiana Utility Regulatory Commission (IURC) requesting approval to construct two natural gas combustion turbines to replace portions of its existing coal-fired generation fleet. The filing comes as the next component in CenterPoint Energy's long-term generation transition plan, which seeks to significantly change the way the company generates power and deliver on its commitment to provide a cost-effective, well-balanced energy mix for its 145,000 customers in southwest Indiana.

The estimated $323 million turbine facility would be constructed at the current site of A.B. Brown power plant in Posey County, Ind. and will provide a combined output of 460 megawatts (MW), sized appropriately to support the anticipated electric generation needed upon the proposed retirement of A.B. Brown units 1 and 2 in late 2023. Construction of the turbines will begin following receipt of approval by the IURC, anticipated in the second half of 2022. The turbines are targeted to be operational in 2024.  

In June 2020, CenterPoint Energy presented the results from its most recent Integrated Resource Plan (IRP) which illustrated a preferred portfolio including nearly two-thirds of energy generated from renewable resources that is expected to lower carbon emissions by nearly 75% from 2005 levels. The preferred portfolio seeks to maintain continued reliability, while saving electric customers an estimated $320 million over the 20-year planning period.

"The construction of the natural gas generation turbines is the next step in CenterPoint Energy's long-term plan to deliver on the commitment to introduce significant renewables and natural gas into our portfolio as outlined in our 2020 Integrated Resource Plan," said Steve Greenley, Senior Vice President of Generation Development. "The retirement of our smaller, inefficient coal units and adding the natural gas combustion turbines will continue to reduce our emissions and maintain our focus on the environment while providing our customers a cost-effective option for delivering safe and reliable energy."

As part of its generation transition plan, CenterPoint Energy added 50 MW of universal solar in Troy, Ind., which is now in service and joins its two 2-MW solar projects in Vanderburgh County. In February, CenterPoint Energy filed a request to enter into agreements on the acquisition of a 300 MW solar array and a power purchase agreement (PPA) for an additional 100 MWs of solar energy.

Today's filing will have no immediate impacts on residential electric bills. Following approval by the IURC, cost recovery of the proposed natural gas generation turbines will be requested through an electric rate review process expected in 2023.

Greenley added, "CenterPoint Energy's long-term generation portfolio transition will meet growing demand to provide cleaner energy for our region while maintaining the reliability our customers deserve and have come to expect."

CenterPoint Energy delivers electricity to approximately 145,000 customers in southwest Indiana in all or portions of Gibson, Dubois, Pike, Posey, Spencer, Vanderburgh and Warrick counties. Programs and services are operated under the brand CenterPoint Energy by Southern Indiana Gas and Electric Company d/b/a CenterPoint Energy Indiana South.

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 "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "should," "target," "will" or other similar words are intended to identify forward-looking statements. These forward-looking statements are based upon assumptions of management which are believed to be reasonable at the time made and are subject to significant risks and uncertainties. Actual events and results may differ materially from those expressed or implied by these forward-looking statements. Any statements in this news release regarding future events, such as CenterPoint Energy's plans to increase renewable and natural gas generation resources, including the proposed construction of two natural gas combustion turbines, while retiring certain coal units and timing thereof, the IURC's approval process, including the proposed approval of the turbines and timing thereof, the estimated output and cost of the turbines, anticipated cost savings and other benefits to customers, carbon emissions reductions, additional regulatory requests in connection with CenterPoint Energy's generation transition plan and timing thereof, and any other statements that are not historical facts are forward-looking statements. Each forward-looking statement contained in this news release speaks only as of the date of this release. Important factors that could cause actual results to differ materially from those indicated by the provided forward-looking information include risks and uncertainties relating to: (1) the impact of COVID-19; (2) financial market conditions; (3) general economic conditions; (4) the timing and impact of future regulatory and legislative decisions; (5) effects of competition; (6) weather variations; (7) changes in business plans; and (8) other factors, risks and uncertainties discussed in CenterPoint Energy's Annual Report on Form 10-K for the fiscal year ended December 31, 2020, CenterPoint Energy's Quarterly Report on Form 10-Q for the quarter ended March 31, 2021 and other reports CenterPoint Energy or its subsidiaries may file from time to time with the Securities and Exchange Commission.

About CenterPoint Energy
As the only investor-owned electric and gas utility based in Texas, CenterPoint Energy, Inc. (NYSE: CNP) is an energy delivery company with electric transmission and distribution, power generation and natural gas distribution operations that serve more than 7 million metered customers in Arkansas, Indiana, Louisiana, Minnesota, Mississippi, Ohio, Oklahoma and Texas. As of March 31, 2021, the company owned approximately $36 billion in assets and also owned 53.7 percent of the common units representing limited partner interests in Enable Midstream Partners, LP, a publicly traded master limited partnership that owns, operates and develops strategically located natural gas and crude oil infrastructure assets. With approximately 9,500 employees, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, visit CenterPointEnergy.com.

For more information, contact:
Media Relations
Media.Relations@CenterPointEnergy.com

SOURCE CenterPoint Energy, Inc.

2021-06-17T05:00:00Z
CenterPoint Energy continues to monitor ERCOT’s grid conditions

Houston – June 15, 2021 – CenterPoint Energy continues to closely monitor grid conditions and information from the Electric Reliability Council of Texas (ERCOT). According to ERCOT, as a result of unplanned power generation outages and customer demand for electricity, the ERCOT system will continue to be close to the amount of power generation available and grid conditions are expected to be tight through Friday, June 18.

  • The company thanks its customers for answering the call to conserve electricity yesterday
  • Electric grid tight conditions are expected throughout the week of June 14, customers across greater Houston area continue to be encouraged to conserve electricity, especially during peak hours

ERCOT is responsible for scheduling electric power and ensuring the reliability and adequacy of the electrical network in the ERCOT region of Texas. CenterPoint Energy does not generate electricity itself, so any shortage of electric power capacity from the electric grid is not something that the company controls.

CenterPoint Energy is asking its customers to conserve electricity this week, particularly between 3 to 7 p.m., the forecasted peak time period for customer power usage.

"We appreciate our customers and their willingness to answer the call for conservation yesterday," said Kenny Mercado, CenterPoint Energy's Executive Vice President, Electric Utility. "As we continue to expect tight grid conditions throughout the week, we encourage our customers across our electric service territory to help conserve electricity every day through Friday."

Consumers can help the ERCOT grid by conserving energy, especially until 7 p.m. by following these steps:

  • Set your thermostat to 78 degrees or higher – every degree of cooling increases your energy use by six to eight percent.
  • Turn off lights and pool pumps and avoid using large appliances like ovens, washing machines and dryers.
  • If you don't need something – please turn it off and unplug it, if possible.

If conditions worsen, ERCOT may issue a directive to CenterPoint Energy to curtail delivery of power to customers, which will require the utility to implement controlled outages due to power generation shortage. Controlled outages are planned emergency measures designed to avoid potentially longer and more widespread power outages for customers. Controlled outages are only implemented as a last resort to maintain reliability of the electric system, and they are done with the intent to rotate outages in the electric service territory based on grid and system conditions.

Houston-area customers should prepare now and have a back-up plan in place, especially those who rely on electricity for life-sustaining equipment.

ERCOT is the independent system operator for the region and manages the flow of electric power to most of Texas and more than 26 million Texas customers. CenterPoint Energy is an investor-owned electric utility and a member of ERCOT. The company manages the transmission and distribution of electricity to its approximately 2.6 million customers across the greater Houston area and surrounding communities.

CenterPoint Energy will keep customers updated through local media outlets and the company's customer communication channels, including Twitter (@CNPalerts), Facebook, Power Alert Service, Outage Tracker (Estimated Restoration Times will not be available for these types of emergencies) and the web.

About CenterPoint Energy, Inc.

As the only investor-owned electric and gas utility based in Texas, CenterPoint Energy, Inc. (NYSE: CNP) is an energy delivery company with electric transmission and distribution, power generation and natural gas distribution operations that serve more than 7 million metered customers in Arkansas, Indiana, Louisiana, Minnesota, Mississippi, Ohio, Oklahoma and Texas. As of March 31, 2021, the company owned approximately $36 billion in assets and also owned 53.7 percent of the common units representing limited partner interests in Enable Midstream Partners, LP, a publicly traded master limited partnership that owns, operates and develops strategically located natural gas and crude oil infrastructure assets. With approximately 9,500 employees, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, visit CenterPointEnergy.com.

 

 

2021-06-15T05:00:00Z
CenterPoint Energy monitoring ERCOT’s grid conditions

Houston – June 14, 2021 – CenterPoint Energy is closely monitoring grid conditions and information from the Electric Reliability Council of Texas (ERCOT). According to ERCOT, as a result of unplanned power generation outages and customer demand for electricity, the ERCOT system will be close to the amount of power generation available late this afternoon and into the early evening. Grid conditions are expected to continue to be tight today through Friday, June 18.

ERCOT is responsible for scheduling electric power and ensuring the reliability and adequacy of the electrical network in the ERCOT region of Texas. CenterPoint Energy does not generate electricity itself, so any shortage of electric power capacity from the electric grid is not something that the company controls.

CenterPoint Energy is asking its customers to conserve electricity this week, particularly between 2:30 to 8 p.m., the forecasted peak time period for customer power usage.

"The power generation issue is expected to be at its peak from the afternoon to the evening hours for the remainder of the week," said Kenny Mercado, CenterPoint Energy's Executive Vice President, Electric Utility. "We are encouraging our customers across our electric service territory to help conserve electricity."

Consumers can help the ERCOT grid by conserving energy, especially until 8 p.m. by following these steps:

  • Set your thermostat to 78 degrees or higher – every degree of cooling increases your energy use by six to eight percent.
  • Turn off lights and pool pumps and avoid using large appliances like ovens, washing machines and dryers.
  • If you don't need something – please turn it off and unplug it, if possible.

If conditions worsen, ERCOT may issue a directive to CenterPoint Energy to curtail delivery of power to customers, which will require the utility to implement controlled outages due to power generation shortage. Controlled outages are planned emergency measures designed to avoid potentially longer and more widespread power outages for customers. Controlled outages are only implemented as a last resort to maintain reliability of the electric system, and they are done with the intent to rotate outages in the electric service territory based on grid and system conditions.

Houston-area customers should prepare now and have a back-up plan in place, especially those who rely on electricity for life-sustaining equipment.

ERCOT is the independent system operator for the region and manages the flow of electric power to most of Texas and more than 26 million Texas customers. CenterPoint Energy is an investor-owned electric utility and a member of ERCOT. The company manages the transmission and distribution of electricity to its approximately 2.6 million customers across the greater Houston area and surrounding communities.

CenterPoint Energy will keep customers updated through local media outlets and the company's customer communication channels, including Twitter (@CNPalerts), Facebook, Power Alert Service, Outage Tracker (Estimated Restoration Times will not be available for these types of emergencies) and the web.

About CenterPoint Energy, Inc.

As the only investor-owned electric and gas utility based in Texas, CenterPoint Energy, Inc. (NYSE: CNP) is an energy delivery company with electric transmission and distribution, power generation and natural gas distribution operations that serve more than 7 million metered customers in Arkansas, Indiana, Louisiana, Minnesota, Mississippi, Ohio, Oklahoma and Texas. As of March 31, 2021, the company owned approximately $36 billion in assets and also owned 53.7 percent of the common units representing limited partner interests in Enable Midstream Partners, LP, a publicly traded master limited partnership that owns, operates and develops strategically located natural gas and crude oil infrastructure assets. With approximately 9,500 employees, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, visit CenterPointEnergy.com.

2021-06-14T05:00:00Z
CenterPoint Energy Foundation donates $100,000 to Comp-U-Dopt and distributes free laptops to Lake Charles students

​LAKE CHARLES, La. – June 9, 2021 – Two hundred free laptop computers were recently distributed to underserved youth in Lake Charles during a two-day distribution event. Provided by Comp-U-Dopt, a nonprofit with a mission to provide technology access, and funded by a $100,000 donation from the CenterPoint Energy Foundation, the laptops were awarded to lottery registrants randomly selected in advance of the distribution. CenterPoint Energy employees, Calcasieu School Parish staff and local leaders were on hand to personally distribute the computers during the event. 

"There is a huge technological divide for children, and in recent years that divide has become a huge barrier to learning for low income children" says Christe Singleton, vice president of regional operations for CenterPoint Energy. "Giving these children access to reconditioned computers provides them with a valuable tool that will support their education and empower their future."  

The CenterPoint Energy Foundation is a charitable giving vehicle focused on strengthening the quality of life in the communities served by CenterPoint Energy.  For more information, visit CenterPointEnergy.com/Foundation.


2021-06-09T05:00:00Z
CenterPoint Energy gears up for 2021 hurricane season

Houston – June 1, 2021 – Hurricane season begins June 1 and CenterPoint Energy encourages customers to have an emergency plan that reflects current public health guidelines, especially for customers who depend on electricity for life-sustaining equipment. As a part of CenterPoint Energy's commitment to restore service as safely and quickly as possible following a severe weather event, the company has an Emergency Operations Plan (EOP). CenterPoint Energy's employees, across all areas, are called upon to support the company­­'s EOP.

"This hurricane season is predicted to be very active, so customers should be prepared for electric outages and have plans in place now," said Randy Pryor, Vice President of Distribution Operations for CenterPoint Energy.  

According to the guidance below from the National Hurricane Center and National Oceanic and Atmospheric Administration's Saffir-Simpson Hurricane Wind Scale, customers should be prepared to be without electric service according to the following guidelines:

HURRICANE WIND SPEED TYPE OF DAMAGE AND ESTIMATED OUTAGE*
CATEGORY 1 Winds 74-95 mph Extensive damage to power lines and poles likely will result in power outages that could last a few to several days.
CATEGORY 2Winds 96-110 mph Near-total power loss is expected with outages that could last from several days to weeks.
CATEGORY 3Winds 111-129 mph Electricity and water will be unavailable for several days to weeks after the storm passes.
CATEGORY 4Winds 130-156 mph Most trees will be snapped or uprooted and power poles downed. Fallen trees and power poles will isolate residential areas. Power outages will last for weeks to possibly months.
CATEGORY 5Winds 157 mph and up Fallen trees and power poles will isolate residential areas. Power outages will last for weeks to possibly months.

*Individual restoration times will vary.

The Saffir-Simpson Hurricane Wind Scale's information can be found here: https://www.nhc.noaa.gov/aboutsshws.php

"After severe weather, CenterPoint Energy employees work around the clock to assess storm damage to our electric grid and restore electricity as safely and quickly as possible," added Pryor.

CenterPoint Energy crews begin the restoration process with facilities vital to safety, health and welfare, such as hospitals, water treatment plants and public service facilities. After key facilities, the company follows its priority restoration process by making repairs to electrical facilities that will return power to the largest number of customers first, then continue the restoration process by prioritizing repairs to benefit the greatest number of customers, until power is returned to everyone.

In addition, CenterPoint Energy is a part of electric utility mutual assistance programs that provide access to thousands of linemen and tree trimmers from around the country to support restoration efforts during widespread power outage emergencies. The company is in close contact with mutual assistance partners in the event additional crews are needed.

The company also shared that the Electric Reliability Council of Texas (ERCOT) recently predicted that it is anticipating record-breaking electric demand this summer due to expected hot and dry weather conditions, as well as continued economic and population growth throughout the region. ERCOT is the independent system operator for the region and manages the flow of electric power to most of Texas and more than 26 million Texas customers.

CenterPoint Energy is a member of ERCOT and manages the transmission and distribution of electricity to its approximately 2.6 million customers across the greater Houston area and surrounding communities. The company does not generate electricity itself in Texas, so any shortage of power generation is not something that CenterPoint Energy controls.

CenterPoint Energy is also prepared to continue to meet customers' natural gas demands across its eight-state service territory. Operations personnel are regularly checking and adjusting natural gas pressures at delivery points and remotely monitoring pressures at hundreds of locations across the company's system.

"The safety of our customers and employees is our top priority, and we have plans in place to respond to extreme weather events," said Tal Centers, CenterPoint Energy's Vice President, Texas Gas. "Our dedicated team members are prepared and ready to restore our natural gas system safely and effectively if a weather event impacts our area."

No two weather events are alike, and flooding can also have a significant impact on natural gas operations. For information on natural gas safety, electric safety and other resources, visit: CenterPointEnergy.com/StormCenter.

For the latest information on electric power outages:

About CenterPoint Energy, Inc.

As the only investor-owned electric and gas utility based in Texas, CenterPoint Energy, Inc. (NYSE: CNP) is an energy delivery company with electric transmission and distribution, power generation and natural gas distribution operations that serve more than 7 million metered customers in Arkansas, Indiana, Louisiana, Minnesota, Mississippi, Ohio, Oklahoma and Texas. As of March 31, 2021, the company owned approximately $36 billion in assets and also owned 53.7 percent of the common units representing limited partner interests in Enable Midstream Partners, LP, a publicly traded master limited partnership that owns, operates and develops strategically located natural gas and crude oil infrastructure assets. With approximately 9,500 employees, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, visit CenterPointEnergy.com.

2021-06-01T05:00:00Z
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