CenterPoint Energy appoints Xia Liu executive vice president and chief financial officer

Xia LiuHouston – 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.

“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.



2019-04-18T05:00:00Z
CenterPoint Energy scores highest on residential customer satisfaction in the energy utilities sector

Houston – April 17, 2019 – CenterPoint Energy achieved residential customer satisfaction highest ranking among energy utilities, according to the American Customer Satisfaction Index (ACSI) Energy Utilities Report 2018-2019. 

ACSI asked customers to evaluate their recent experiences with the largest energy utilities. This year, nearly every investor-owned utility company experienced a year-over-year drop in customer satisfaction, but CenterPoint Energy remained at the top of the category. The energy delivery company added 77,000 new natural gas and electric utility customers in 2018 and finished with an ACSI score of 80, compared to the investor-owned utilities and municipal utilities category averages of 73.

"Our goal is to provide our customers with an exceptional experience by investing in technologies that give them useful information and provide them with services that are valuable to them," said Gregg Knight, senior vice president and chief customer officer for CenterPoint Energy. "We are also working to expand services that our customers have indicated they would like us to provide.

"It's especially rewarding that our company and employees are being recognized nationally for our commitment to delivering value and great service to our customers," Knight added.

The ACSI Energy Utilities Report 2018-2019 covers three categories of energy utilities (investor-owned, municipal, and cooperative). Results are based on interviews with 21,646 residential customers, chosen at random and contacted via email between Jan. 16 and Dec. 25, 2018. Customers are asked to evaluate their recent experiences with the largest energy utilities in terms of market share, plus an aggregate category consisting of "all other"—and thus smaller—companies.

Click here to view the ACSI Energy Utilities Report 2018-2019.
 

2019-04-17T05:00:00Z
Minnesota Cold Weather Rule ends soon

Minneapolis – April 10, 2019 – Customers with Cold Weather Rule (CWR) payment plans should take steps to avoid having large unpaid balances become due or their natural gas service disconnected once the CWR ends April 15. The Minnesota CWR protects residential customers who are experiencing difficulties with paying their natural gas bills from having their service disconnected Oct. 15 through April 15. All customers with CWR payment plans should contact CenterPoint Energy prior to April 15 and set up a new payment plan to ensure continuation of service.

"We encourage our customers having difficulty paying their natural gas bills or those who are at risk of having their service disconnected to contact us as soon as possible," said Brad Tutunjian, vice president of Gas Operations for CenterPoint Energy. "For those who are income-eligible, we will connect them with financial resources that can help pay down natural gas bills. We can also enroll our customers in our various bill payment programs."

What does CenterPoint Energy offer qualified customers?

 
Additionally, customers can use CenterPoint Energy's online options to make a one-time payment, set up a payment arrangement, report a payment made at an authorized bill payment center, and have service reconnected at CenterPointEnergy.com/SelfService.

To make a payment by phone and avoid service disruption, to use the company's automated telephone options or to learn more about energy assistance, please call 1-612-372-4680 or 1-800-729-6164.

 


2019-04-10T05:00:00Z
CenterPoint Energy electric unit files to change electric delivery base rates for Houston-area customers
  • Filing seeks recovery of continued system-wide investments in the safety, reliability and resiliency of the electric grid for all customers;
  •  Continued growth in Houston area has resulted in the addition of nearly 400,000 customers since last change to base rates;
  •  Investments also include innovative technology to enhance customer support and service;
  •  Proposed change in base rates includes costs for restoration efforts related to Hurricane Harvey not yet recovered

Houston – April 5, 2019 – CenterPoint Energy’s electric transmission and distribution business, CenterPoint Energy Houston Electric (CEHE), today announced that it has filed a request with the Public Utility Commission of Texas (PUCT) and the cities in its service area to increase the base rate for delivery charges effective at the conclusion of the review by the PUCT. CEHE last filed for a base rate increase on June 30, 2010.

If approved in full by the PUCT, the proposed base rate increase would total approximately $161 million in adjusted current annual revenues. State law provides the PUCT with 185 days to review and decide on the filing.

“Our proposed change to the base rate portion of the customer’s bill is primarily driven by necessary capital investments to support electric delivery system safety, reliability, resiliency and service for the 2.4 million metered customers across our 5,000-square-mile service territory,” said Tracy Bridge, executive vice president and president of CenterPoint Energy’s Electric Division. “At the same time, we have also made investments to support the continued growth across our area that has resulted in the addition of nearly 400,000 customers since our last base rate increase. Finally, the change to the base rate also includes the recovery of approximately $64 million in costs related to Hurricane Harvey that have not yet been reflected in current rates.

“We strive to keep base rate changes as low as possible and minimize the impact on customers. As part of the filing, we are requesting to continue returning the benefits of the Tax Cuts and Jobs Act of 2017 through a separate rider that will provide approximately $97 million to customers over the next three years.”

CEHE’s transmission and distribution charges in this case currently represent approximately 37 percent of the monthly bill that residential customers using 1,000 kilowatt hours (kWh) per month pay to their Retail Electric Provider (REP), which is the company that sends customers their electric bills. Any changes to CEHE’s delivery rate would be included in the billing to the REP. The REP would then determine whether those changes would be passed on to their end-use customers. 

If the increase supported by CEHE’s filing is approved in full and passed through to the consumer by their REP, the impact to a residential customer using 1,000 kWh per month would be $2.38 per month.

The filing is also requesting permission to install voltage regulation battery technology, when necessary and cost effective, to reliably connect planned renewable energy generation projects in its service territory. In addition, CEHE is requesting an amendment to its Facilities Extension Policy to facilitate the development of public electric vehicle (EV) charging stations by reducing the financial contribution required to extend electric service to the charging stations. 
Finally, CEHE is requesting a Return on Equity of 10.4 percent and to put in place a capital structure of 50 percent equity and 50 percent long-term debt in response to its increased capital investment and the continued impact of the Tax Cuts and Jobs Act of 2017. 

“We believe that a fiscally healthy utility is good for customers, shareholders and the state of Texas,” added Bridge. “A competitive authorized return and more appropriate capital structure will continue to allow the company to attract low cost debt capital.”  

This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this news release, the words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “goal,” “intend,” “may,” “objective,” “plan,” “potential,” “predict,” “projection,” “should,” “target,” “will” or other similar words are intended to identify forward-looking statements. These forward-looking statements are based upon assumptions of management which are believed to be reasonable at the time made and are subject to significant risks and uncertainties. Actual events and results may differ materially from those expressed or implied by these forward-looking statements. Any statements in this news release regarding future events, such as future regulatory decisions and actions on the filing and the impact of such actions, the proposed rate increases and anticipated impact to customers, the expected capital structure and benefits derived therefrom and any other statements that are not historical facts are forward-looking statements. Each forward-looking statement contained in this news release speaks only as of the date of this release.  Factors that could affect actual results include timing and impact of future regulatory and legislative decisions, weather variations, changes in business plans 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.







2019-04-05T05:00:00Z
CenterPoint Energy encourages safety awareness during National Safe Digging Month

Houston – April 1, 2019 As part of its ongoing safety awareness practices for safe digging, CenterPoint Energy is partnering with the Common Ground Alliance to commemorate April as National Safe Digging Month and encourage customers to follow safe digging practices.

Safe digging practices not only prevent damage and service interruptions for underground utilities like natural gas, electric and water, but also help keep those doing the work safe.

"Whether it's a small project, such as planting shrubs, or a commercial building project, customers should call 811 at least two working days before digging," said Ashley Babcock, director of Damage Prevention and Public Awareness for CenterPoint Energy. "By calling 811 to have the underground utility lines in their area marked, homeowners and professionals are making an important decision that can help keep them and their communities safe." 

  • In the event a gas line has been struck or ruptured outside of a home or business, customers are reminded of the following:
  • Leave the area of the gas leak immediately, as well as areas where the odor of gas is noticeable.  
    Do not attempt to re-start or move powered equipment.  
  • Call CenterPoint Energy to report the leak. The party responsible for the damage to the gas line should also call 911 and report the incident to police and/or fire officials and the state's 811 center.
  • Remain in a safe area until emergency personnel arrive and do not enter the home/business or neighboring premises.

Visit Call811.com for more information about 811 and the call-before-you-dig process. For more information on natural gas safety, visit CenterPointEnergy.com/safety.

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 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.

2019-04-01T05:00:00Z
CenterPoint Energy provides important flood safety tips

Minneapolis – March 20, 2019 With flooding expected in parts of Minnesota, CenterPoint Energy reminds residents of its preparedness and offers customers some important natural gas safety tips.

"CenterPoint Energy is prepared to keep our customers and our infrastructure safe during flooding events," said Brad Tutunjian, vice president of regional operations. "We have a robust flood plan that includes safety checks on infrastructure and equipment prior to, during and following flood activity."

Below are tips customers can use when weathering flood conditions. 

Before a flood:

  • Do not turn off natural gas at the meter. The gas meter should be left on to maintain proper pressure in the gas piping within the house and to prevent water from entering the lines should flooding occur.
  • If a customer wishes to discontinue gas service, the gas should be turned off at each appliance.

 
After a flood:

  • If your home was flooded and your natural gas meter was underwater, call CenterPoint Energy to schedule an inspection. The meter may need to be replaced.
  • Have flooded appliances inspected by a qualified technician, like HSP before operating the equipment.  This includes outdoor gas appliances such as pool heaters, gas grills and gaslights.
  • If your home did not flood and your natural gas is turned off at the meter, call CenterPoint Energy to reconnect service.
    • Be alert for leaking gas as you return to your home or business. If you smell gas, leave the area immediately on foot and tell others to do the same.
    • Do not turn the lights on or off, smoke, strike a match, use a cell phone or operate anything that may cause a spark, including a flashlight or driving your car.
    • Do not attempt to turn natural gas valves on or off.
    • Once safely away from the area, call the 24 hours emergency gas leak hot line number 1-800-296-9815 and 911 to report the location and description of the leak.

 

Customers and mechanical contractors are not authorized to work on or operate any of CenterPoint Energy's equipment, including but not limited to pipelines, meters, valves, regulators, and associated pipe fittings.  For your own and others' safety, do not attempt to work on or operate CenterPoint Energy's equipment.  Do not tamper with the meter or attempt to service or maintain

2019-03-20T05:00:00Z
CenterPoint Energy to begin pipe replacement projects in Pascagoula

Pascagoula – March 1, 2019 – CenterPoint Energy will begin replacing more than 8,210 feet of gas pipe in the Twin Oaks area this spring as part of a larger effort to inspect and replace approximately 10 miles of gas main within the City of Pascagoula over the next three years. CenterPoint Energy acquired the city's gas system as of January 1.                               

"We are surveying gas pipes throughout the city, with plans to replace up to six miles of pipe within the next 12 months, "said Jason Fabre, district director for CenterPoint Energy. "This will help ensure the safety and reliability of the gas system for our customers."               

The company has been using leading gas leak detection technology called Picarro to survey the current gas system. The technology is 1,000 times more sensitive than traditional leak detection technology and will help in identifying areas of the gas system that need to be repaired and replaced.  

Recently, the company surveyed the gas facilities serving Singing River Island, a portion of which crosses the Pascagoula River, and approximately 10% of the Pascagoula natural gas system.                                                                                       

"We want to thank Pascagoula Mayor Dane Maxwell and the city council for their continued support," said Fabre. "It has been essential in our progress to serve the city of Pascagoula."

2019-03-01T06:00:00Z
CenterPoint Energy reports full-year 2018 earnings of $0.74 per diluted share; $1.60 earnings per diluted share on a guidance basis, excluding impacts associated with the merger

Houston – Feb. 28, 2019 - CenterPoint Energy, Inc. (NYSE: CNP) today reported full-year income available to common shareholders of $333 million, or $0.74 per diluted share, compared with $1,792 million, or $4.13 per diluted share in 2017.

On a guidance basis, full-year 2018 earnings were $1.60 per diluted share, excluding impacts associated with the Vectren merger (the merger). Full-year 2017 earnings, on a guidance basis, were $1.37 per diluted share, excluding a one-time tax benefit of $1,113 million related to the Tax Cuts and Jobs Act (TCJA) federal income tax rate reduction.

Fourth quarter 2018 earnings were $0.18 per diluted share, compared to $2.99 per diluted share for the fourth quarter of 2017. On a guidance basis, fourth quarter 2018 earnings were $0.36 per diluted share, excluding impacts associated with the merger. Excluding the TCJA tax benefit, on a guidance basis, fourth quarter 2017 earnings were $0.33 per diluted share.

“I am very pleased with our 2018 results as they represent another solid year of meeting the financial goals we set,” said Scott M. Prochazka, president and chief executive officer of CenterPoint Energy. “Our recently completed merger expands our utility businesses to eight states, provides opportunities to leverage and expand our competitive energy businesses across a larger U.S. footprint, and gives us greater confidence in putting forward long-term financial targets.”

Business Segments

Electric Transmission & Distribution

The electric transmission & distribution segment reported full-year 2018 operating income of $623 million, consisting of $568 million from the regulated electric transmission and distribution utility operations (TDU) and $55 million related to securitization bonds. Operating income for 2017 was $636 million, consisting of $561 million from the TDU and $75 million related to securitization bonds.

Operating income for the TDU benefited primarily from rate relief, customer growth and higher equity return related to the annual true-up of transition charges. These benefits were partially offset by higher operation and maintenance expenses, lower revenues reflecting the lower federal corporate income tax rate due to the TCJA, and higher depreciation and amortization expense.

The retrospective adoption of the accounting standard for compensation-retirement benefits (ASU 2017-07) resulted in an increase to TDU operating income and a corresponding decrease to other income of $26 million for 2017.

Natural Gas Distribution

The natural gas distribution segment reported full-year 2018 operating income of $266 million, compared with $348 million in 2017.

Full-year 2018 operating income for natural gas distribution improved primarily as a result of rate relief and customer growth. These increases were more than offset by lower revenues reflecting the lower federal corporate income tax rate due to the TCJA, higher operation and maintenance expenses and higher depreciation and amortization expense.

The retrospective adoption of ASU 2017-07 resulted in an increase to natural gas distribution operating income and a corresponding decrease to other income of $20 million for 2017.

Energy Services

The energy services segment reported a full-year operating loss of $47 million, which included a mark-to-market loss of $110 million, compared with operating income of $126 million for 2017, which included a mark-to-market gain of $79 million. Excluding mark-to-market adjustments, operating income was $63 million in 2018 compared to $47 million in 2017. Operating income increased primarily due to improved margin and volumes. This increase was partially offset by higher operation and maintenance expenses primarily associated with growth.

Midstream Investments

The midstream investments segment reported full-year 2018 equity income of $307 million, compared with $265 million in 2017.

Other Operations

The other operations segment reported an operating loss of $11 million for full-year 2018, compared with operating income of $26 million in 2017. This decrease is primarily due to merger-related costs.

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 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 and the estimated cost and timing of technology integration projects. The 2019 guidance range assumes Enable Midstream Partners, LP’s (Enable) 2019 guidance range for net income attributable to common units of $435 - $505 million, provided on Enable’s 4th quarter earnings call on February 19, 2019. The 2020 guidance range utilizes a range of CenterPoint Energy scenarios for Enable’s 2020 net income attributable to common units.

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.

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

Today, CenterPoint Energy, Inc. filed with the Securities and Exchange Commission (SEC) its Annual Report on Form 10-K for the fiscal year ended December 31, 2018. 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, February 28, 2019, at 9:00 a.m. Central time/10:00 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 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 $30 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 realize anticipated benefits and the risk that the credit ratings of the combined company or its subsidiaries may be different from what CenterPoint Energy expects; (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) timely and appropriate rate actions that allow recovery of costs and a reasonable return on investment, including Houston Electric’s anticipated rate case in 2019, the outcome of which may not result in expected rates or recovery of costs; (5) future economic conditions in regional and national markets and their effect on sales, prices and costs; (6) weather variations and other natural phenomena, including the impact of severe weather events on operations and capital; (7) 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; (8) 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; (9) CenterPoint Energy’s ability to mitigate weather impacts through normalization or rate mechanisms, and the effectiveness of such mechanisms; (10) the timing and extent of changes in commodity prices, particularly natural gas, and the effects of geographic and seasonal commodity price differentials; (11) actions by credit rating agencies, including any potential downgrades to credit ratings; (12) changes in interest rates and their impact on CenterPoint Energy’s costs of borrowing and the valuation of its pension benefit obligation; (13) problems with regulatory approval, 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; (14) the availability and prices of raw materials and services and changes in labor for current and future construction projects; (15) local, state and federal legislative and regulatory actions or developments relating to the environment, including those related to global climate change; (16) the impact of unplanned facility outages; (17) 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, earthquakes, explosions, leaks, floods, droughts, hurricanes, pandemic health events or other occurrences; (18) CenterPoint Energy’s ability to invest planned capital and the timely recovery of CenterPoint Energy’s investments; (19) CenterPoint Energy’s ability to control operation and maintenance costs; (20) the sufficiency of CenterPoint Energy’s insurance coverage, including availability, cost, coverage and terms and ability to recover claims; (21) the investment performance of CenterPoint Energy’s pension and postretirement benefit plans; (22) 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; (23) changes in rates of inflation; (24) inability of various counterparties to meet their obligations to CenterPoint Energy; (25) non-payment for CenterPoint Energy’s services due to financial distress of its customers; (26) 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; (27) 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; (28) 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 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; (29) acquisition and merger activities involving CenterPoint Energy or its competitors, including the ability to successfully complete merger, acquisition and divestiture plans; (30) CenterPoint Energy’s or Enable’s ability to recruit, effectively transition and retain management and key employees and maintain good labor relations; (31) the outcome of litigation; (32) 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; (33) changes in technology, particularly with respect to efficient battery storage or the emergence or growth of new, developing or alternative sources of generation; (34) the timing and outcome of any audits, disputes and other proceedings related to taxes; (35) the effective tax rates; (36) the effect of changes in and application of accounting standards and pronouncements; and (37) 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.

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 net 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.

2019-02-28T06:00:00Z
Snow accumulation can block vents and freeze natural gas meters

Minneapolis – Feb. 27, 2019 – CenterPoint Energy would like to remind the public of important safety tips, which also help to prevent service interruption and ensure proper meter operation.

Snow and ice accumulation on or near the natural gas meter set and/ or on the roof above a meter can lead to potentially dangerous conditions, including natural gas buildup in homes and businesses and service disruptions. 

Knowing how the gas meter operates and recognizing these warning signs can help prevent potential problems:

  • Regulators are designed to maintain a constant pressure, ensure safe delivery of natural gas and vent natural gas safely to the atmosphere.
  • Accumulations of snow and ice on the meter set can also cause the regulator to malfunction by blocking the vent and freezing the regulator, which can potentially lead to natural gas venting inside the home rather than outside. 
  • Thawing snow or ice dams from rooftops above the meter should be kept clear to prevent ice from encasing the meter or chunks of ice falling on the meter causing potential damage.

Additionally, customers should maintain a path clear of snow or debris to provide easy access to the natural gas meter.

CenterPoint Energy would also like to remind the public of important winter natural gas safety tips:

  • Do not deposit snow piles on or near the meter.
  • Do not use a snow blower or shovel near the meter or attempt to remove ice from the meter yourself. You can use a broom to keep the snow cleared around and on top of the meter and piping.
  • Call 1-800-296-9815 if there is ice on the meter or one or more of the following conditions exist:
    • Meter is located below a downspout
    • Overhang or eave does not fully extend over the meter
    • Meter is located below a roof valley without a gutter
    • Meter is located below an exterior water spout

If you suspect a natural gas leak, leave the area immediately on foot and tell others to do the same.

  • Do not start or drive your car into or near a gas leak or vapor cloud
  • Do not use electric switches, telephones (including cell phones), or anything that could cause a spark
  • Once safely away from the area, call the CenterPoint Energy emergency gas leak hot line at 1-800-296-9815 and 911 to report the location and description of the leak and CenterPoint Energy will dispatch a trained service technician immediately

For more natural gas safety tips, visit the company's website at CenterPointEnergy.com/BeSafe.



2019-02-27T06:00:00Z
CenterPoint Energy Services named number one Natural Gas Marketer in North America by Mastio & Company

Houston – Feb. 27, 2019 – CenterPoint Energy Services (CES) has been ranked as the number one major Natural Gas Marketer in Mastio & Company's recent Natural Gas Marketer Customer Value/Loyalty Benchmarking Study.

"We are honored to receive this recognition," said Joe Vortherms, CenterPoint Energy's Competitive Energy Businesses lead. "Our number one ranking is a testament to our employees and their commitment to providing safe and dependable services to our customers."

CES is a leading provider of a wide range of competitive energy services to meet the unique needs of customers across the United States. CES delivers reliable natural gas and energy services to natural gas utilities, large industrials and municipalities, as well as to other large-volume market segments.
 
In its 22nd edition report, Mastio analyzed customers' responses to determine their perceptions about the best supplier based on the company's prices and the benefits it offers. CES ranked highest in several categories, including reliability of natural gas supply, speed of contract negotiations and the sales team's knowledge.

The 2018 findings were based on interviews with more than 500 natural gas customers. The analysis also included approximately 2,400 responses to five open-ended questions regarding suppliers. The data was gathered through telephone interviews with key decision makers from August through November 2018.


2019-02-27T06:00:00Z
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