CenterPoint Energy reports full year 2016 earnings of $1.00 per diluted share; $1.16 per diluted share on a guidance basis
2017-02-28T06:00:00Z

 

  • Company reiterates 2017 EPS guidance of $1.25 - $1.33.  Earnings growth driven by
    • Utility rate relief and continued customer growth,
    • Increased contribution from CenterPoint Energy Services, partially attributable to recent acquisitions, and
    • Increased earnings per Enable Midstream Partners' forecast, as provided on Enable's fourth quarter 2016 earnings call,
  • Company targets upper end of 4-6% earnings growth range for 2018

Houston, TX – Feb. 28, 2017 - CenterPoint Energy, Inc. (NYSE: CNP) today reported full-year 2016 net income of $432 million, or $1.00 per diluted share, compared to a net loss of $692 million, or a loss of $1.61 per diluted share in 2015. This loss included pre-tax impairment charges taken during 2015 totaling $1,846 million, related to midstream investments. 

On a guidance basis, full-year 2016 earnings were $1.16 per diluted share, consisting of $0.88 from utility operations and $0.28 from midstream investments. Full-year 2015 earnings on a guidance basis were $1.10 per diluted share, consisting of $0.79 from utility operations and $0.31 from midstream investments.

Fourth quarter 2016 earnings were $0.23 per diluted share, compared to a net loss of $1.18 per diluted share for the fourth quarter of 2015. This loss included pre-tax impairment charges totaling $984 million related to midstream investments. On a guidance basis, fourth quarter 2016 earnings were $0.26 per diluted share, compared to fourth quarter 2015 earnings of $0.27 per diluted share.

"I am very pleased with our performance in 2016. We had solid results and delivered more than 5 percent year-over-year EPS growth on a guidance basis," said Scott M. Prochazka, president and chief executive officer of CenterPoint Energy. "We continue to see notably strong customer growth across our service territory, including more than 2 percent customer growth in and around the Houston area."

Business Segments

Electric Transmission & Distribution

The electric transmission & distribution segment reported full-year 2016 operating income of $628 million, consisting of $537 million from the regulated electric transmission & distribution utility operations (TDU) and $91 million related to securitization bonds.Operating income for the same period of 2015 was $607 million, consisting of $502 million from the TDU and $105 million related to securitization bonds.

Full-year 2016 operating income for the TDU benefited from rate relief, customer growth with the addition of over 54,000 customers, as well as higher equity return, primarily due to true-up proceeds.  These increases were partially offset by higher depreciation, higher O&M expenses and lower right of way revenues. 

Natural Gas Distribution

The natural gas distribution segment reported full-year 2016 operating income of $303 million compared with $273 million in 2015. 

Full-year 2016 operating income for natural gas distribution improved as a result of rate relief, lower bad debt expense and customer growth with the addition of more than 35,000 customers. This improvement was partially offset by increased depreciation and amortization, increased labor and benefits expenses and increased contract services expenses. 

Energy Services

The energy services segment reported full-year 2016 operating income of $20 million, which included a mark-to-market loss of $21 million, compared with $42 million in 2015, which included a mark-to-market gain of $4 million. Excluding mark-to-market adjustments, operating income was $41 million in 2016 and $38 million in 2015. 

Midstream Investments

The midstream investments segment reported full-year 2016 equity income of $208 million, compared to a loss of $1,633 million in 2015, which included the impairment charges noted above. The impairments in 2015 were partially offset by full-year earnings of $213 million.

Earnings Outlook

CenterPoint Energy expects earnings on a guidance basis for 2017 in the range of $1.25 - $1.33 per diluted share.  This guidance includes anticipated utility operations earnings of $0.93 – $0.97 per diluted share and anticipated midstream investment earnings of $0.31 - $0.37 per diluted share.

The utility operations guidance range considers performance to date and certain significant variables that may impact earnings, such as weather, regulatory and judicial proceedings, throughput, commodity prices, effective tax rates, and financing activities.

In providing this guidance, the company 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, 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. 

In providing guidance for midstream investments, the company assumes a 54.1 percent limited partner ownership interest in Enable Midstream and includes the amortization of CenterPoint Energy's basis differential in Enable Midstream. CenterPoint Energy's guidance takes into account such factors as Enable Midstream's most recent public outlook for 2017 dated Feb. 21, 2017, and effective tax rates. The company does not include other potential impacts such as any changes in accounting standards or Enable Midstream's unusual items. 

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 year ended December 31, 2016. 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 Tuesday, February 28, 2017, at 10:00 a.m. Central time or 11:00 a.m. Eastern time. Interested parties may listen to a live audio broadcast of the conference call on the company's website under the Investors section. A replay of the call can be accessed approximately two hours after the completion of the call and will be archived on the website for at least one year.

 

CenterPoint Energy, Inc., headquartered in Houston, Texas, is a domestic energy delivery company that includes electric transmission & distribution, natural gas distribution and energy services operations. The company serves more than five million metered customers primarily in Arkansas, Louisiana, Minnesota, Mississippi, Oklahoma, and Texas. The company also owns a 54.1 percent limited partner interest in Enable Midstream Partners, a publicly traded master limited partnership it jointly controls with OGE Energy Corp.,  which owns, operates and develops natural gas and crude oil infrastructure assets. With more than 7,700 employees, CenterPoint Energy and its predecessor companies have been in business for more than 140 years. For more information, visit the website at www.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. Factors that could affect actual results include (1) state and federal legislative and regulatory actions or developments affecting various aspects of CenterPoint Energy's businesses (including the businesses of Enable Midstream Partners (Enable Midstream)), including, among others, energy deregulation or re-regulation, pipeline integrity and safety, health care reform, financial reform, tax legislation, and actions regarding the rates charged by CenterPoint Energy's regulated businesses; (2) state and federal legislative and regulatory actions or developments relating to the environment, including those related to global climate change; (3) recording of non-cash goodwill, long-lived asset or other than temporary impairment charges by or related to Enable Midstream; (4) timely and appropriate rate actions that allow recovery of costs and a reasonable return on investment; (5) the timing and outcome of any audits, disputes or other proceedings related to taxes; (6) problems with 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; (7) industrial, commercial and residential growth in CenterPoint Energy's service territories and changes in market demand, including the effects of energy efficiency measures and demographic patterns; (8) the timing and extent of changes in commodity prices, particularly natural gas and natural gas liquids, and the effects of geographic and seasonal commodity price differentials, and the impact of commodity changes on producer related activities; (9) weather variations and other natural phenomena, including the impact on operations and capital from severe weather events; (10) any direct or indirect effects on CenterPoint Energy's facilities, operations and financial condition resulting from terrorism, cyber-attacks, data security breaches or other attempts to disrupt its businesses or the businesses of third parties, or other catastrophic events; (11) the impact of unplanned facility outages; (12) timely and appropriate regulatory actions allowing securitization or other recovery of costs associated with any future hurricanes or natural disasters; (13) changes in interest rates or rates of inflation; (14) commercial bank and financial market conditions, CenterPoint Energy's access to capital, the cost of such capital, and the results of its financing and refinancing efforts, including availability of funds in the debt capital markets; (15) actions by credit rating agencies; (16) effectiveness of CenterPoint Energy's risk management activities; (17) inability of various counterparties to meet their obligations; (18) non-payment for services due to financial distress of

CenterPoint Energy's and Enable Midstream's customers; (19) the ability of GenOn Energy, Inc. (formerly known as RRI Energy, Inc.), a wholly owned subsidiary of NRG Energy, Inc., and its subsidiaries to satisfy their obligations to CenterPoint Energy and its subsidiaries; (20) the ability of retail electric providers, and particularly the largest customers of the TDU, to satisfy their obligations

to CenterPoint Energy and its subsidiaries; (21) the outcome of litigation; (22) CenterPoint Energy's ability to control costs, invest planned capital, or execute growth projects; (23) the investment performance of pension and postretirement benefit plans; (24) potential business strategies, including restructurings, joint ventures, and acquisitions or dispositions of assets or businesses, for which no assurance can be given that they will be completed or will provide the anticipated benefits to CenterPoint Energy; (25) acquisition and merger activities and successful integration of such activities, involving CenterPoint Energy or its competitors; (26) the ability to recruit, effectively transition and retain management and key employees and maintain good labor relations; (27) future economic conditions in regional and national markets and their effects on sales, prices and costs; (28) the performance of Enable Midstream, the amount of cash distributions CenterPoint Energy receives from Enable Midstream, and the value of its interest in Enable Midstream, and factors that may have a material impact on such performance, cash distributions and value, including certain of the factors specified above and: (A) the integration of the operations of the businesses contributed to Enable Midstream; (B) the achievement of anticipated operational and commercial synergies and expected growth opportunities, and the successful implementation of  Enable Midstream's business plan; (C) competitive conditions in the midstream industry, and actions taken by Enable Midstream's customers and competitors, including the extent and timing of the entry of additional competition in the markets served by Enable Midstream; (D) the timing and extent of changes in the supply of natural gas and associated commodity prices, particularly natural gas and natural gas liquids, the competitive effects of the available pipeline capacity in the regions served by Enable Midstream, and the effects of geographic and seasonal commodity price differentials, including the effects of these circumstances on re-contracting available capacity on Enable Midstream's interstate pipelines; (E) the demand for crude oil, natural gas, NGLs and transportation and storage services; (F) changes in tax status; (G) access to growth capital; and (H) the availability and prices of raw materials for current and future construction projects; (29) effective tax rate; (30) the effect of changes in and application of accounting standards and pronouncements; (31) other factors discussed in CenterPoint Energy's Annual Report on Form 10-K for the fiscal year ended December 31, 2016, 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 net income and diluted earnings per share, CenterPoint Energy also provides guidance based on adjusted net 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 net income and adjusted diluted earnings per share calculation excludes from net income and diluted earnings per share, respectively, the impact of ZENS and related securities, mark-to-market gains or losses resulting from the company's Energy Services business and adjustments for impairment charges.  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, mark-to-market gains or losses resulting from the company's Energy Services business and impairment charges are not estimable.

Management evaluates the company's financial performance in part based on adjusted net income and adjusted diluted earnings per share.  We believe 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 net 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, net income 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.

 

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CenterPoint Energy Mobile Energy Solutions® provides temporary uninterrupted natural gas service to Panama City, Florida customers

Houston – July 12, 2018 – CenterPoint Energy Mobile Energy Solutions® (MES), recently provided natural gas service to Panama City, Florida during a planned transmission pipeline outage due to pipeline integrity testing. MES is part of CenterPoint Energy Services, Inc., a wholly-owned commercial subsidiary of CenterPoint Energy, Inc. (NYSE: CNP).

Using natural gas-fired and ambient liquid natural gas (LNG) vaporizers, MES was able to deliver high-pressure natural gas at flow rates up to 500 Mcf/hr (thousand cubic feet per hour) to the local distribution system.

"We worked closely with the pipeline customer to understand their needs and were able to configure the equipment to achieve the high flow rates necessary to sustain service," said Ryan Bigelow, MES operations manager for CenterPoint Energy Services.

During the seven-day service, MES' vaporizers provided the primary natural gas feed to more than 35,000 residents and businesses in Panama City. The LNG was sourced from a natural gas liquefaction plant, 270 miles away. More than 20 semi-truck loads of LNG were delivered to the site and injected to the system. MES technicians were onsite 24-hours-a-day operating the vaporizers to ensure safe and reliable delivery of natural gas.

"We were pleased to safely provide portable natural gas supply to ensure residents were not impacted during the planned pipeline outage," added Bigelow. "The customer was impressed with MES' skilled personnel and the use of specialized equipment."

MES performs more than 100 projects a year and has more than 20 years of broad project experience delivering CNG and LNG across the United States. Businesses that have benefitted from MES' expertise include commercial, industrial and manufacturing companies, utilities, municipalities, transmission pipelines, and institutions like medical centers, correctional centers and universities. The company's team and equipment are certified to meet the strict requirements of the U.S. Department of Transportation and can serve customers throughout the U.S.

To learn more about the benefits of temporary natural gas please contact the company at MES@CenterPointEnergy.com, 844-MOBILE-4 or visit CenterPointEnergy.com/MES.

 

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

CenterPoint Energy, Inc., headquartered in Houston, Texas, is a domestic energy delivery company that includes electric transmission and distribution, natural gas distribution and energy services operations. The company serves more than five million metered customers primarily in Arkansas, Louisiana, Minnesota, Mississippi, Oklahoma and Texas. The company also owns 54.0 percent of the common units representing limited partner interests in Enable Midstream Partners, a publicly traded master limited partnership it jointly controls with OGE Energy Corp. Enable Midstream Partners owns, operates and develops natural gas and crude oil infrastructure assets. With nearly 8,000 employees, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, please visit www.CenterPointEnergy.com.

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CenterPoint Energy recognized as one of the 50 most community-minded companies in the United States

Houston – June 28, 2018 – CenterPoint Energy has been named to The Civic 50 as one of the most community-minded companies in the United States. An initiative of Points of Light, the world's largest organization dedicated to volunteer service, The Civic 50 provides a national standard for superior corporate citizenship and showcases how companies can use their time, skills and other resources to improve the communities in which they do business. CenterPoint Energy was also named to The Civic 50 in 2014.

"We are extremely proud to once again receive this recognition," said Diane Englet, senior director of Community Relations for CenterPoint Energy. "Volunteerism is embedded in our company culture and our employees have a passion for the causes on which CenterPoint Energy focuses: education, community development and health and human services."

Points of Light President and CEO Natalye Paquin said, "The Civic 50 highlights the commitment of community and civic engagement of America's leading brands. Points of Light believes that people drive change in addressing society's growing and most profound challenges. The business community plays an important role in creating and delivering innovative solutions that drive social good in the communities where they live and work."

The Civic 50 honorees are public and private companies with U.S. operations and revenues of $1 billion or more, and are selected based on four dimensions of their U.S. community engagement program including investment, integration, institutionalization and impact. To learn more about The Civic 50, to see a full list of the winners and to access the highlights, trends, benchmarking data and best practices from the 2018 Civic 50, please visit www.Civic50.org. 

About CenterPoint Energy

CenterPoint Energy, Inc., headquartered in Houston, Texas, is a domestic energy delivery company that includes electric transmission & distribution, natural gas distribution and energy services operations. The company serves more than five million metered customers primarily in Arkansas, Louisiana, Minnesota, Mississippi, Oklahoma and Texas. The company also owns 54 percent of the common units representing limited partner interests in Enable Midstream Partners, a publicly traded master limited partnership it jointly controls with OGE Energy Corp. Enable Midstream Partners owns, operates and develops natural gas and crude oil infrastructure assets. With nearly 8,000 employees, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, go to www.CenterPointEnergy.com

About Points of Light

Points of Light, the world's largest organization dedicated to volunteer service, mobilizes millions of people to take action that is changing the world. Through affiliates in more than 200 cities and partnerships with thousands of nonprofits and corporations, Points of Light engages four million volunteers in 20 million hours of service each year. We bring the power of people where it's needed most. For more information, visit www.pointsoflight.org.

CenterPoint Energy to Pay Additional Interest on its 2.0 percent Zero-Premium Exchangeable Subordinated Notes due 2029

Houston – June 22, 2018 – CenterPoint Energy, Inc. (NYSE: CNP) has established July 2, 2018, as an Additional Interest Regular Record Date under the terms of its 2.0 percent Zero-Premium Exchangeable Subordinated Notes due 2029 (ZENS). Additional Interest of $26.875 per ZENS note will be paid on July 17, 2018, to holders of record of ZENS as of the close of business on the Additional Interest Regular Record Date.   

The payment of Additional Interest reflects cash distributed in respect of the Reference Shares attributable to one ZENS note in connection with the AT&T Inc. and Time Warner Inc. merger, which closed on June 14, 2018. The Additional Interest of $26.875 per ZENS note was calculated as the product of 0.50 share of Time Warner Inc. common stock per ZENS note and the $53.75 per share cash merger consideration paid to holders of Time Warner Inc. common stock.

After the closing of the AT&T Inc. and Time Warner Inc. merger, the Reference Shares for each ZENS note consisted of 0.7185 share of AT&T Inc. common stock and 0.061382 share of Charter Communications, Inc. common stock.

Capitalized terms not otherwise defined in this news release have the meanings given to such terms in the indenture governing the ZENS.          

CenterPoint Energy, Inc., headquartered in Houston, Texas, is a domestic energy delivery company that includes electric transmission & distribution, natural gas distribution and energy services operations. The company serves more than five million metered customers primarily in Arkansas, Louisiana, Minnesota, Mississippi, Oklahoma and Texas. The company also owns 54 percent of the common units representing limited partner interests in Enable Midstream Partners, a publicly traded master limited partnership it jointly controls with OGE Energy Corp. Enable Midstream Partners owns, operates and develops natural gas and crude oil infrastructure assets. With nearly 8,000 employees, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, go to www.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 events, including record and payment dates, and other statements that are not historical facts are forward-looking statements that involve risks and uncertainties including market conditions and other factors discussed in CenterPoint Energy's Form 10-K for the fiscal year ended Dec. 31, 2017, CenterPoint Energy's Form 10-Q for the quarter ended March 31, 2018, and CenterPoint Energy's other filings with the Securities and Exchange Commission. Each forward-looking statement contained in this news release speaks only as of the date of the release.   

 

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CenterPoint Energy awards grants to communities for safety initiatives

Minneapolis– June 14, 2018 – CenterPoint Energy's Community Partnership Grant Program awards grants to local communities to fund safety-related equipment and projects. This year, the company recently awarded 70 grants to community organizations in Minnesota totaling $125,000. Recipients will use these grants to serve their local communities.

"Safety is one of CenterPoint Energy's values. Over the past 15 years, we have contributed more than $1.5 million to safety initiatives in our communities," said Dean Headlee, pipeline safety and compliance manager of CenterPoint Energy. "Our Community Partnership Grant program not only helps us stay connected to the communities we serve, but also gives us an opportunity to impact lives by helping them stay safe."

Rachel Shields, community relations program manager of CenterPoint Energy, said, "CenterPoint Energy has funded nearly 900 safety projects since 2003. This year, our Community Partnership Grant program will provide portable defibrillators for first responders, safety equipment for local fire departments and traffic safety equipment."

Winners were determined based on the content of their applications. Participants were required to outline a problem, issue or need in the community and how a Community Partnership Grant would help create a sustainable solution.

To see what CenterPoint Energy is doing in the community, please visit our 2017 Corporate Responsibility Report. Please see the following list of communities that received Community Partnership Grants.

​North MetroSouth Metro
  • Andover
  • Anoka
  • Big Lake
  • Brooklyn Center
  • Carlos
  • Cold Spring
  • Columbia Heights
  • Columbus
  • Coon Rapids
  • Corcoran
  • Dassel
  • Freeport
  • Garrison
  • Genola
  • Glencoe
  • Glenwood
  • Golden Valley
  • Grove City
  • Hector
  • Independence
  • Lexington
  • Little Falls
  • Mayer
  • Medina
  • Melrose
  • Milaca
  • Minnetonka Beach
  • New Germany
  • Osakis
  • Pennock
  • Pierz
  • Plato
  • Plymouth
  • Ramsey
  • Richmond
  • Rockville
  • Rogers
  • Sauk Centre
  • South Haven
  • St. Bonifacius
  • St. Michael
  • Willmar
  • Wayzata
  • Apple Valley
  • Belle Plaine
  • Chaska
  • Cologne
  • Eagle Lake
  • Hampton
  • Hopkins
  • Janesville
  • Lake Crystal
  • Lake Elmo
  • LeCenter
  • Lonsdale
  • Medford
  • Miesville
  • Minnetrista
  • Morristown
  • North Mankato
  • Norwood Young America
  • Prior Lake
  • Randolph
  • Rosemount
  • Savage
  • Sleepy Eye
  • St. Peter
  • Tonka Bay
  • Victoria
  • Waseca

 

CenterPoint Energy, Inc., headquartered in Houston, Texas, is a domestic energy delivery company that includes electric transmission & distribution, natural gas distribution and energy services operations. The company serves more than five million metered customers primarily in Arkansas, Louisiana, Minnesota, Mississippi, Oklahoma, and Texas. The company also owns 54.1 percent of the common and subordinated units representing limited partner interests in Enable Midstream Partners, a publicly traded master limited partnership it jointly controls with OGE Energy Corp., which owns, operates and develops natural gas and crude oil infrastructure assets. With nearly 8,000 employees, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. The utility also operates a non-regulated business in Minnesota called Home Service Plus®.  For more information, please visit CenterPointEnergy.com.

 

CenterPoint Energy and HomeServe USA partner to provide home protection services to customers

Houston – June 13, 2018 – CenterPoint Energy (NYSE: CNP) and HomeServe USA Corp. (HomeServe), a provider of emergency home repair programs to homeowners nationwide, today announced a new partnership through which CenterPoint Energy's natural gas customers in Texas will be able to purchase service plans for several household systems.

CenterPoint Energy and HomeServe's new program will offer a suite of service plans covering repairs to several energy-consuming and other home systems, including customer-owned natural gas lines, heating and cooling systems, interior electric wiring, water heaters, and exterior water and sewer lines. The service plans are designed to protect homeowners from the inconvenience and unexpected expenses associated with repairs to these critical household systems. The initial rollout will include protection for customer-owned natural gas lines and cooling systems, and will be available later this summer.

"CenterPoint Energy prides itself on being a trusted energy advisor, so we are pleased to work with HomeServe to provide our customers access to these new valuable services," said Gregg Knight, senior vice president and Chief Customer Officer of CenterPoint Energy. "CenterPoint Energy provides high-quality, highly rated energy delivery to our customers. These new service plans are a natural extension and will provide homeowners with a low-cost, peace-of mind option for unexpected repairs to covered systems."

The Gas Line service plan, for example, will offer homeowners protection against the expense and inconvenience of repairs to the customer-owned natural gas line from the CenterPoint Energy meter up to and including the connectors to each natural gas appliance inside the home. The plan would also cover repairs to the piping leading to connectors to natural gas appliances outside around the property, such as a natural gas grill or natural gas pool heater. Future offerings will include service plans to help repair or maintain energy-consuming appliances, which will help them use energy more efficiently. 

"HomeServe shares the same level of commitment to quality customer service as CenterPoint Energy," said John Kitzie, CEO of HomeServe. "Our cost-effective service plans provide a better way for customers to secure and pay for repairs through our reliable network of qualified local contractors."  

This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based upon assumptions of management which are believed to be reasonable at the time made and are subject to significant risks and uncertainties. Actual events and results may differ materially from those expressed or implied by these forward-looking statements. Any statements in this news release regarding future events, such as future offerings under CenterPoint's new program, 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 (1) factors related to our business and the economy, including commodity prices, (2) the performance of the companies, (3) competitive conditions in the industry, (4) state and federal legislative and regulatory actions or developments affecting various aspects of the businesses and (5) other factors discussed in CenterPoint Energy's Annual Report on Form 10-K for the fiscal year ended December 31, 2017, as well as in CenterPoint Energy's Quarterly Report on Form 10-Q for the quarters ended March 31, 2018, and other reports on Form 8-K CenterPoint Energy or its subsidiaries may file from time to time with the Securities and Exchange Commission.

About CenterPoint Energy:

CenterPoint Energy, Inc., headquartered in Houston, Texas, is a domestic energy delivery company that includes electric transmission & distribution, natural gas distribution and energy services operations. The company serves more than five million metered customers primarily in Arkansas, Louisiana, Minnesota, Mississippi, Oklahoma and Texas. The company also owns 54.0 percent of the common units representing limited partner interests in Enable Midstream Partners, a publicly traded master limited partnership it jointly controls with OGE Energy Corp. Enable Midstream Partners owns, operates and develops natural gas and crude oil infrastructure assets. With nearly 8,000 employees, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, please visit www.CenterPointEnergy.com

About HomeServe USA Corp.:

HomeServe USA Corp. (HomeServe) is a leading provider of home repair solutions serving 3.6 million customers across the US and Canada under the HomeServe, Home Emergency Insurance Solutions, Service Line Warranties of America (SLWA) and Service Line Warranties of Canada (SLWC) names. Since 2003, HomeServe has been protecting homeowners against the expense and inconvenience of water, sewer, electrical, HVAC and other home repair emergencies by providing affordable repair coverage, installations and quality local service. As an A+ rated Better Business Bureau Accredited Business, HomeServe is dedicated to being a customer-focused company supplying best-in-class repair plans and other services to consumers directly and through over 550 leading municipal, utility and association partners. For more information about HomeServe, a 2017 Connecticut Top Workplace winner and recipient of eighteen 2018 Stevie Awards for Sales & Customer Service, or to learn more about HomeServe's affordable repair plans, please go to www.homeserveusa.com. To connect with HomeServe on Facebook and Twitter, please visit www.facebook.com/homeserveusa and www.twitter.com/homeserveusa.

 

For more information:

 

CenterPoint Energy

Media:  Leticia Lowe   

Phone: 713-207-7702

Investors:  David Mordy

Phone: 713-207-6500

 

HomeServe USA

Myles Meehan                                                

Phone: 203-356-4259                                       

             

Hill+Knowlton Strategies for HomeServe USA

Merrie Leininger

Phone: 775-846-0664

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