CenterPoint Energy reports first quarter 2018 earnings of $0.38 per diluted share; $0.55 per diluted share on a guidance basis
Company anticipates achieving the high end of its $1.50 - $1.60 2018 EPS guidance range, excluding one-time costs associated with the Vectren merger
2018-05-04T05:00:00Z

Houston - May 4, 2018 - CenterPoint Energy, Inc. (NYSE: CNP) today reported net income of $165 million, or $0.38 per diluted share, for the first quarter of 2018, compared with $192 million, or $0.44 per diluted share for the same period of the prior year. On a guidance basis, first quarter 2018 earnings were $0.55 per diluted share, consisting of $0.43 from utility operations and $0.12 from midstream investments. First quarter 2017 earnings on a guidance basis were $0.37 per diluted share, consisting of $0.27 from utility operations and $0.10 from midstream investments. 

Operating income for the first quarter of 2018 was $251 million, compared with $291 million in the first quarter of the prior year. The retrospective adoption of the accounting standard for compensation-retirement benefits (ASU 2017-07) resulted in an increase to operating income and a corresponding decrease to other income of $17 million for the first quarter of 2017. Equity income from midstream investments was $69 million for the first quarter of 2018, compared with $72 million for the first quarter of the prior year. 

"We are off to a strong start this year," said Scott M. Prochazka, president and chief executive officer of CenterPoint Energy. "Continued growth across our service territories, rate recovery and Energy Services' performance all position us to be at the high end of our 2018 EPS guidance.  Beyond 2018 we are looking forward to closing the recently announced merger agreement with Vectren in the first quarter of 2019."

Business Segments

Electric Transmission & Distribution

The electric transmission & distribution segment reported operating income of $115 million for the first quarter of 2018, consisting of $99 million from the regulated electric transmission & distribution utility operations (TDU) and $16 million related to securitization bonds. Operating income for the first quarter of 2017 was $86 million, consisting of $66 million from the TDU and $20 million related to securitization bonds.

Operating income for the TDU benefited primarily from higher equity return related to the annual true-up of transition charges, rate relief and increased usage resulting from favorable weather and customer growth. These benefits were partially offset by lower revenues reflecting the lower federal tax rate due to the Tax Cuts and Jobs Act (TCJA) and higher operation and maintenance expenses. 

The retrospective adoption of ASU 2017-07 resulted in an increase to electric transmission and distribution operating income and a corresponding decrease to other income of $8 million for the first quarter of 2017. 

Natural Gas Distribution

The natural gas distribution segment reported operating income of $156 million for the first quarter of 2018, compared with $168 million for the same period of 2017. Operating income benefited from rate relief, increased usage due to favorable weather and customer growth. These increases were more than offset by lower revenues reflecting the lower federal tax rate due to the TCJA, higher operation and maintenance expenses, higher taxes due primarily to the Minnesota property tax refund of $9 million in 2017, and higher depreciation and amortization expenses.

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 $4 million for the first quarter of 2017.

Energy Services

The energy services segment reported an operating loss of $26 million for the first quarter of 2018, which included a mark-to-market loss of $80 million, compared with operating income of $35 million for the same period in 2017, which included a mark-to-market gain of $15 million.  Excluding mark-to-market adjustments, operating income was $54 million for the first quarter of 2018 compared with $20 million for the same period of 2017. The increase in operating income was primarily due to incremental volumes from customers and improved margin rates, resulting from commercial opportunities attributable to recent acquisitions and from colder than normal weather in several U.S. regions.

Midstream Investments

The midstream investments segment reported $69 million of equity income for the first quarter of 2018, compared with $72 million in the first quarter of the prior year. 

Earnings Outlook

CenterPoint Energy anticipates achieving the high end of the $1.50 - $1.60 guidance range for 2018, excluding one-time costs associated with the proposed Vectren merger. This guidance is inclusive of Enable's net income guidance of $375 million - $445 million announced on Enable Midstream's first quarter earnings call on May 2, 2018. The guidance range assumes ownership of 54.0 percent of the common units representing limited partner interests in Enable Midstream and includes the amortization of CenterPoint Energy's basis differential in Enable Midstream and effective tax rates. CenterPoint Energy does not include other potential Enable Midstream impacts on guidance, such as any changes in accounting standards or unusual items. 

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

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, 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 business.

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

Today, CenterPoint Energy, Inc. filed with the Securities and Exchange Commission (SEC) its Quarterly Report on Form 10-Q for the period ended March 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 Friday, May 4, 2018, at 10:00 a.m. Central time/11:00 a.m. Eastern time. Interested parties may listen to a live audio broadcast of the conference call on the company's website under the Investors section. A replay of the call can be accessed approximately two hours after the completion of the call and will be archived on the website for at least one year.

 

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 more than 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 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 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 non-cash goodwill, long-lived asset or other than temporary impairment charges by or related to Enable; (F) changes in tax status; (G) access to debt and equity capital; and (H) the availability and prices of raw materials and services for current and future construction projects; (2) 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; (3) timely and appropriate rate actions that allow recovery of costs and a reasonable return on investment; (4) future economic conditions in regional and national markets and their effect on sales, prices and costs; (5) weather variations and other natural phenomena, including the impact of severe weather events on operations and capital; (6) 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; (7) tax reform and legislation, including the effects of the comprehensive tax reform legislation informally referred to as the Tax Cuts and Jobs Act and uncertainties involving state commissions' and local municipalities' regulatory requirements and determinations regarding the treatment of excess deferred taxes and CenterPoint Energy's rates; (8) CenterPoint Energy's ability to mitigate weather impacts through normalization or rate mechanisms, and the effectiveness of such mechanisms; (9) the timing and extent of changes in commodity prices, particularly natural gas, and the effects of geographic and seasonal commodity price differentials; (10) actions by credit rating agencies; (11) changes in interest rates and their impact on CenterPoint Energy's costs of borrowing and the valuation of its pension benefit obligation; (12) 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; (13) local, state and federal legislative and regulatory actions or developments relating to the environment, including those related to global climate change; (14) the impact of unplanned facility outages; (15) 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; (16) CenterPoint Energy's ability to invest planned capital and the timely recovery of CenterPoint Energy's investment in capital; (17) CenterPoint Energy's ability to control operation and maintenance costs; (18) the sufficiency of CenterPoint Energy's insurance coverage, including availability, cost, coverage and terms; (19) the investment performance of CenterPoint Energy's pension and postretirement benefit plans; (20) 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; (21) changes in rates of inflation; (22) inability of various counterparties to meet their obligations to CenterPoint Energy; (23) non-payment for CenterPoint Energy's services due to financial distress of its customers; (24) the extent and effectiveness of CenterPoint Energy's risk management and hedging activities, including but not limited to, its financial and weather hedges; (25) timely and appropriate regulatory actions allowing securitization for any future hurricanes or natural disasters or other recovery of costs, including costs associated with Hurricane Harvey; (26) 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 interests in Enable, if any, whether through CenterPoint Energy's decision to sell all or a portion of the Enable common units it owns in the public equity markets or otherwise, subject to certain limitations), which CenterPoint Energy cannot assure will be completed or will have the anticipated benefits to us or Enable; (27) acquisition and merger activities involving CenterPoint Energy or its competitors, including the ability to successfully complete merger, acquisition or divestiture plans; (28) the expected timing, likelihood and benefits of completion of CenterPoint Energy's proposed merger with Vectren Corporation (Vectren), including the timing, receipt and terms and conditions of any required approvals by Vectren's shareholders and governmental and regulatory agencies that could reduce anticipated benefits or cause the parties to delay or abandon the proposed transactions, as well as the ability to successfully integrate the businesses and realize anticipated benefits, the possibility that long-term financing for the proposed transactions may not be put in place before the closing of the proposed transactions and the risk that the credit ratings of the combined company or its subsidiaries may be different from what the companies expect; (29) CenterPoint Energy's or Enable's ability to recruit, effectively transition and retain management and key employees and maintain good labor relations; (30) the outcome of litigation; (31) the ability of retail electric providers (REPs), including REP affiliates of NRG and Vistra Energy Corp., formerly known as TCEH Corp., to satisfy their obligations to CenterPoint Energy and its subsidiaries; (32) the ability of GenOn Energy, Inc. (formerly known as RRI Energy, Inc., Reliant Energy and RRI), a wholly-owned subsidiary of NRG Energy, Inc. (NRG), and its subsidiaries, currently the subject of bankruptcy proceedings, to satisfy their obligations to CenterPoint Energy, including indemnity obligations; (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, 2017, CenterPoint Energy's Quarterly Report on Form 10-Q for the quarter ended March 31, 2018 and other reports CenterPoint Energy or its subsidiaries may file from time to time with the Securities and Exchange Commission.

 

Risks Related to the Merger

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 risk that Vectren may be unable to obtain shareholder approval for the proposed transactions, (2) the risk that CenterPoint Energy or Vectren may be unable to obtain governmental and regulatory approvals required for the proposed transactions, or that required governmental and regulatory approvals or agreements with other parties interested therein may delay the proposed transactions or may be subject to or impose adverse conditions or costs, (3) the occurrence of any event, change or other circumstances that could give rise to the termination of the proposed transactions or could otherwise cause the failure of the proposed transactions to close, (4) the risk that a condition to the closing of the proposed transactions or the committed financing may not be satisfied, (5) the failure to obtain, or to obtain on favorable terms, any equity, debt or other financing necessary to complete or permanently finance the proposed transactions and the costs of such financing, (6) the outcome of any legal proceedings, regulatory proceedings or enforcement matters that may be instituted relating to the proposed transactions, (7) the receipt of an unsolicited offer from another party to acquire assets or capital stock of Vectren that could interfere with the proposed transactions, (8) the timing to consummate the proposed transactions, (9) the costs incurred to consummate the proposed transactions, (10) the possibility that the expected cost savings, synergies or other value creation from the proposed transactions will not be realized, or will not be realized within the expected time period, (11) the risk that the companies may not realize fair values from properties that may be required to be sold in connection with the merger, (12) the credit ratings of the companies following the proposed transactions, (13) disruption from the proposed transactions making it more difficult to maintain relationships with customers, employees, regulators or suppliers, and (14) the diversion of management time and attention on the proposed transactions.

 

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 and mark-to-market gains or losses resulting from the company's Energy Services business.  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.

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.

 

Additional Information and Where to Find It

In connection with the proposed transactions, Vectren expects to file a proxy statement, as well as other materials, with the SEC. WE URGE INVESTORS TO READ THE PROXY STATEMENT AND THESE OTHER MATERIALS FILED WITH THE SEC CAREFULLY WHEN THEY BECOME AVAILABLE BEFORE MAKING ANY VOTING OR INVESTMENT DECISION BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED MERGER.  Investors will be able to obtain free copies of the proxy statement (when available) and other documents that will be filed by Vectren with the SEC at http://www.sec.gov, the SEC's website, or from Vectren's website (http://www.vectren.com) under the tab, "Investors" and then under the heading "SEC Filings."  Security holders may also read and copy any reports, statements and other information filed by Vectren with the SEC, at the SEC public reference room at 100 F Street, N.E., Washington, D.C. 20549. Please call the SEC at 1-800-SEC-0330 or visit the SEC's website for further information on its public reference room.

Participants in the Solicitation

CenterPoint Energy, Vectren and certain of their respective directors, executive officers and other persons may be deemed to be participants in the solicitation of proxies from Vectren's shareholders with respect to the proposed transactions. Information regarding the directors and executive officers of CenterPoint Energy is available in its definitive proxy statement for its 2018 annual meeting, filed with the SEC on March 15, 2018, and information regarding the directors and executive officers of Vectren is available in its definitive proxy statement for its 2018 annual meeting, filed with the SEC on March 22, 2018.  More detailed information regarding the identity of potential participants, and their direct or indirect interests, by securities, holdings or otherwise, will be set forth in the proxy statement and other materials when they are filed with the SEC in connection with the proposed transaction.

 

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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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