Houston – April 25, 2019 – Since its launch in June 2018, CenterPoint Energy's optional protection plan program for natural gas customers in Texas has saved customers more than $1.2 million in repair costs.
Offered through
HomeServe USA Corp. (HomeServe), a provider of emergency home repair programs to homeowners nationwide, the program gives customers the opportunity to purchase low-cost service plans that cover unanticipated costs and minimize inconvenience associated with piping and other major household system repairs.
"Pipe repairs are rarely covered by basic homeowners' insurance and when an unexpected emergency occurs, customers may not have the emergency funds set aside to cover the expenses," said Gregg Knight, senior vice president and chief customer officer of CenterPoint Energy. "Our plan provides extra peace-of-mind for homeowners with both new and older residences. We are excited to continue our partnership with HomeServe to provide our customers with expert service delivery."
CenterPoint Energy and HomeServe have partnered with more than 200 local business contractors to serve customer repair needs, 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 optional and offered as a benefit to provide homeowners with protection from the inconvenience and unexpected expenses associated with repairs to these critical household systems.
Christie Tavera of Basin Plumbing, a regional contractor who has worked with HomeServe for more than three years, said, "The guarantee offered by CenterPoint Energy and HomeServe in case of plumbing failures, along with pre-screened contractors, are invaluable to homeowners. No one gives a second thought to plumbing, until an emergency happens. With this program, contractors like us can help with these emergencies to get homeowners the service they need quickly."
As of March 2019, HomeServe provided the following updates on the optional service plan for CenterPoint Energy customers in Houston, Laredo, Beaumont and New Braunfels:
- CenterPoint Energy's program has already completed more than 1,000 customer repairs that would not have been covered under typical homeowners' insurance;
- CenterPoint Energy customers' natural gas line claims for service have averaged $1,200 per repair; and
- Based on survey data from customers after completion of their claim, CenterPoint Energy customers have given the program an average rating of 4.8 out of 5 stars.
"HomeServe is pleased to participate in this valuable partnership with CenterPoint Energy," said John Kitzie, CEO of HomeServe USA. "We value the opportunity to help better serve CenterPoint Energy customers and provide peace of mind to them when a repair emergency happens."
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 seven million metered customers primarily in Arkansas, Indiana, Louisiana, Minnesota, Mississippi, Ohio, 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 approximately 14,000 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 4 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.
