CenterPoint Energy and Vectren complete merger
Combined company well positioned to advance its vision to lead the nation in delivering energy, service and value
2019-02-01T06:00:00Z

Houston and Evansville, Ind. – Feb. 1, 2019 – CenterPoint Energy, Inc. (NYSE: CNP) and Vectren Corporation (NYSE: VVC) today announced the successful completion of their merger. The combined company, which is named CenterPoint Energy and headquartered in Houston, has regulated electric and natural gas utility businesses in eight states that serve more than 7 million metered customers and a competitive energy businesses' footprint in nearly 40 states.

"Today, we come together as one company. With a greater level of business operations, resources and capabilities, we plan to execute a unified business strategy focused on the safe and reliable delivery of electricity, natural gas and energy-related services," said Scott M. Prochazka, president and chief executive officer of CenterPoint Energy. "It is a time of transformation for our industry, and I believe CenterPoint Energy will be well positioned to deliver traditional energy services with innovative solutions that meet customers' evolving needs and expectations."

With the merger, CenterPoint Energy has assets totaling approximately $29 billion, an enterprise value of $27 billion and approximately 14,000 employees. CenterPoint Energy's businesses include:

  • Electric utility business CenterPoint Energy maintains the wires, poles and electric infrastructure serving 2.4 million metered customers in the greater Houston area and 145,000 customers in Indiana. The company also owns and operates nearly 1,300 megawatts of power generation capacity in Indiana. CenterPoint Energy's Texas electric utility business is headquartered in Houston and its Indiana electric utility business is headquartered in Evansville, Ind.
  • Natural gas utility business – CenterPoint Energy sells and delivers natural gas to 4.5 million homes and businesses in eight states: Arkansas, Indiana, Louisiana, Minnesota, Mississippi, Ohio, Oklahoma and Texas, including the high-growth areas of Houston and Minneapolis. The company's natural gas utility business is headquartered in Evansville.
  • Competitive energy businesses – 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's competitive energy businesses are led from Houston.

CenterPoint Energy will continue to trade under the ticker symbol "CNP" on the New York Stock Exchange (NYSE) and the Chicago Stock Exchange.

Under the terms of the merger agreement, which was announced on April 23, 2018, Vectren shareholders will receive $72.00, along with a prorated dividend of $0.41145, in cash for each share of Vectren common stock owned as of the close of business on Feb. 1, 2019. Additionally, Vectren common stock, which previously traded under the ticker symbol "VVC," has ceased trading on and was delisted from the NYSE effective today.

"I look forward to watching the newly combined company thrive in this evolving industry," said Carl Chapman, outgoing Vectren chairman, president and chief executive officer. "CenterPoint Energy was the right partner for Vectren and I am confident this merger will have a positive impact on all stakeholders. I sincerely thank the employees and shareholders who have been part of the Vectren journey."

A CenterPoint Energy fact sheet can be found here.

 

CenterPoint Energy

Headquartered in Houston, Texas, CenterPoint Energy, Inc. is an energy delivery company with regulated utility businesses in eight states and a competitive energy businesses footprint in nearly 40 states. Through its electric transmission & distribution, power generation and natural gas distribution businesses, the company serves more than 7 million metered customers primarily in Arkansas, Indiana, Louisiana, Minnesota, Mississippi, Ohio, Oklahoma and Texas. CenterPoint Energy's competitive energy businesses include natural gas marketing and energy-related services; energy efficiency, sustainability and infrastructure modernization solutions; and construction and repair services for pipeline systems, primarily natural gas. The company also owns 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.

Forward-Looking Statement

The statements in this press release contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical fact included in this press release are forward-looking statements made in good faith by us and are intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995.  When used in this press 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. Forward-looking statements include, but are not limited to, statements relating to benefits of the merger, integration plans and expected synergies and anticipated future financial measures and operating performance and results, including estimates for growth and other matters affecting future operations. Each forward-looking statement contained in this press release speaks only as of the date of this release. Important factors that could cause actual results to differ materially from those indicated by the provided forward-looking information include risks and uncertainties relating to: (1) difficulties that may arise in successfully integrating the businesses of CenterPoint Energy and Vectren, which may result in the combined company not operating as efficiently and effectively as anticipated; (2) the ability of the combined company to achieve expected cost savings and synergies or it taking longer than expected for those savings and synergies to materialize; (3) potential unexpected costs or unexpected liabilities associated with the merger; (4) potential differences in the actual credit ratings of CenterPoint Energy, Vectren or their subsidiaries from the companies' anticipated ratings; (5) future regulatory or legislative actions that could adversely affect the combined company; (6) other economic, business or competitive factors that could adversely affect the combined company and (7) 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 quarters ended March 31, 2018, June 30, 2018 and September 30, 2018 and other reports CenterPoint Energy or its subsidiaries may file from time to time with the Securities and Exchange Commission.

 

 

some_text CenterPoint Energy

View More Tweets ›

 Recent News

 

 

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

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

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

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

For updates, follow CenterPoint Energy on Facebook and Twitter.

CenterPoint Energy releases 2018 Corporate Responsibility Report

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

CenterPoint Energy logo. (PRNewsFoto)

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

Highlights include:

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

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

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

Merger with Vectren

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

Headquartered in Houston, Texas, CenterPoint Energy, Inc. is an energy delivery company with regulated utility businesses in eight states and a competitive energy businesses footprint in nearly 40 states. Through its electric transmission & distribution, power generation and natural gas distribution businesses, the company serves more than 7 million metered customers in Arkansas, Indiana, Louisiana, Minnesota, Mississippi, Ohio, Oklahoma and Texas. CenterPoint Energy's competitive energy businesses include natural gas marketing and energy-related services; energy efficiency, sustainability and infrastructure modernization solutions; and construction and repair services for pipeline systems, primarily natural gas. The company also owns 53.8 percent of the common units representing limited partner interests in Enable Midstream Partners, LP, a publicly traded master limited partnership that owns, operates and develops strategically located natural gas and crude oil infrastructure assets. With approximately 14,000 employees and nearly $34 billion in assets, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, visit www.CenterPointEnergy.com.

For more information contact
Media:
Alicia Dixon

Phone  713.207.5885
Investors:
David Mordy

Phone  713.207.6500

 

 

SOURCE CenterPoint Energy, Inc.

As all eyes are on the Gulf, CenterPoint Energy encourages customers to sign up for Power Alert Service® now

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

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

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

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

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

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

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

Standard text messaging fees may apply.

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

CenterPoint Energy shares important natural gas safety tips in preparation for potentially severe weather

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

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

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

CenterPoint Energy releases 2018 Corporate Responsibility Report

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

CenterPoint Energy logo. (PRNewsFoto)

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

Highlights include:

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

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

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

Merger with Vectren

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

Headquartered in Houston, Texas, CenterPoint Energy, Inc. is an energy delivery company with regulated utility businesses in eight states and a competitive energy businesses footprint in nearly 40 states. Through its electric transmission & distribution, power generation and natural gas distribution businesses, the company serves more than 7 million metered customers in Arkansas, Indiana, Louisiana, Minnesota, Mississippi, Ohio, Oklahoma and Texas. CenterPoint Energy's competitive energy businesses include natural gas marketing and energy-related services; energy efficiency, sustainability and infrastructure modernization solutions; and construction and repair services for pipeline systems, primarily natural gas. The company also owns 53.8 percent of the common units representing limited partner interests in Enable Midstream Partners, LP, a publicly traded master limited partnership that owns, operates and develops strategically located natural gas and crude oil infrastructure assets. With approximately 14,000 employees and nearly $34 billion in assets, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, visit www.CenterPointEnergy.com.

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

 

SOURCE CenterPoint Energy, Inc.