Natural gas bills expected to increase when compared to last winter
2021-10-14T05:00:00Z

Indianapolis – Oct. 14, 2021 CenterPoint Energy's Indiana North natural gas territory announced today customers may see a significant increase in their natural gas bills when compared to those of last winter, assuming normal winter weather, due primarily to natural gas market conditions.

  • Increase primarily driven by rise in natural gas prices
  • Higher costs resulting from global demand, lower production
  • Company purchases natural gas on behalf of its customers, does not mark up or profit from the purchase and sale of natural gas
  • Customers encouraged to prepare now for managing their energy bills

This year based upon expected natural gas commodity costs and normal winter weather, customers can expect to pay on average $130 a month, over the five-month heating season of November through March. By comparison, last year's average bill amount for the 5-month period was around $88 a month.

"In the event we experience normal winter weather this heating season, coupled with a significant increase in natural gas prices, customers should expect an increase in their bills," said Richard Leger, Vice President of Natural Gas Distribution, Indiana and Ohio. "Even with higher natural gas prices this winter heating season, bills should still remain lower than customers experienced in the late 2000s when prices for natural gas were at record levels nationwide."

CenterPoint Energy utilities are not allowed to markup, nor profit, from the purchase and sale of natural gas. Only gas costs actually incurred and approved by the Indiana Utility Regulatory Commission are recovered from customers. Natural gas is a commodity bought and sold in a national deregulated market and prices fluctuate daily due to supply and demand pressures. CenterPoint Energy purchases natural gas on behalf of its customers and then passes those costs on to customers through the gas cost adjustment, which is listed on the bill as "Gas Cost Charge."

The Energy Information Administration continues to recognize natural gas as the most affordable heating source, according to a report issued yesterday. In fact, CenterPoint Energy gas customers who heated their homes with natural gas last year saved up to $865 compared to those who heat with propane and $395 to $1,100 compared to those who heat with an electric heat pump or electric furnace, respectively.

It is important to remember bills will vary by customer depending on the size and age of the home, number of gas appliances, number in the household, thermostat settings and levels of insulation. Customers are encouraged to still implement energy efficiency measures and find ways to use less natural gas to lower bills even further.

CenterPoint Energy has in place a number of tools to help customers manage their energy bills.

  • Budget Bill: Under this billing plan, a customer's estimated costs for a year of gas service are spread in equal monthly bill amounts for the year. This leveling of monthly bill amounts reduces the need to pay the full amount in the winter and spreads some of those higher bill charges into the non-heating months. Amounts are adjusted each summer for actual costs, and the customer's credit or amount due rolls into the next Budget Bill payment for the next 12-month period. Customers can enroll for free on www.centerpointenergy.com or by calling 1-800-227-1376.
  • Energy Assistance Program (EAP):  State and federal utility assistance dollars are available for income-eligible customers. Those that fall within 60 percent of state median income should visit their local community action agency to sign up for the EAP. To apply for the EAP, customers should call 1-800-872-0371 to locate their nearest community action agency. Customers may also apply any time at the Indiana Housing and Community Development Authority website at https://ihcda.rhsconnect.com/.
  • Universal Service Program (USP): All eligible natural gas heating customers who apply and qualify for EAP will automatically be enrolled in the USP, which provides additional gas bill reductions that range from 15 to 32 percent of the total bill received (not including EAP benefits) in the months of December through May. The USP, which has been in place since 2005 is the result of a collaborative effort by CenterPoint Energy, Citizens Energy Group, the Indiana Office of Utility Consumer Counselor, Citizens Action Coalition and a group representing industrial customers. The program provides about $1.5 million in assistance each year to roughly 18,000 CenterPoint Energy Indiana customers, including crisis assistance dollars, which target qualified low-income and working-poor households that need additional help to get reconnected and/or maintain heat throughout the upcoming winter.
  • Share the Warmth: Those wanting to help the less fortunate with their energy bills can contribute to Share the Warmth, a nonprofit organization that assists income-eligible customers with home weatherization services. Donations may be tax-deductible and can be made with a checking or savings account number and routing number at www.sharethewarmthinc.com. Customers who pay their bills at www.centerpointenergy.com may donate through a bill round-up feature. In 2020, customers across CenterPoint Energy's Indiana and Ohio territories used this feature to direct more than $200,000 in donations to Share the Warmth, which was matched by CenterPoint Energy.
     
  • Energy efficiency resources: CenterPoint Energy offers energy efficiency tips, appliance rebates and energy-saving tools to help customers lower their natural gas bills. All Indiana residential and small commercial natural gas customers are eligible. Visit www.centerpointenergy.com or call 1-866-240-8476 for a list of rebates, qualifying appliances and energy efficiency tips.

"We are here to assist our customers who are experiencing financial hardship and encourage them to make contact for options to help manage costs," said Leger. "Local community action agencies can further provide assistance and customers should call today and apply for financial and/or home weatherization assistance if needed."

Programs and services are operated under the brand CenterPoint Energy by Indiana Gas Company d/b/a CenterPoint Energy Indiana North. 

CenterPoint Energy's Indiana North territory delivers natural gas to approximately 625,000 customers in Adams, Allen, Bartholomew, Blackford, Boone, Clark, Clay, Clinton, Decatur, Delaware, Fayette, Floyd, Fountain, Grant, Greene, Hamilton, Hancock, Hendricks, Henry, Huntington, Jackson, Jay, Jefferson, Johnson, Lawrence, Madison, Marion, Martin, Miami, Monroe, Montgomery, Morgan, Orange, Owen, Parke, Putnam, Randolph, Rush, Shelby, Tippecanoe, Tipton, Vermillion, Vigo, Wabash, Warren, Wayne, Wells and White counties.

Forward Looking Statement

This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this news release, the words "anticipate," "believe," "continue," "could," "estimate," "expect," "forecast," "goal," "intend," "may," "objective," "plan," "potential," "predict," "projection," "should," "target," "will" or other similar words are intended to identify forward-looking statements. These forward-looking statements are based upon assumptions of management which are believed to be reasonable at the time made and are subject to significant risks and uncertainties. Actual events and results may differ materially from those expressed or implied by these forward-looking statements. Any statements in this news release regarding future events, such as the expected prices of natural gas and the subsequent impact on customer bills, assumptions regarding winter weather, 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. 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 impact of COVID-19; (2) financial market conditions; (3) general economic conditions; (4) the timing and impact of future regulatory and legislative decisions; (5) effects of competition; (6) weather variations; (7) changes in business plans; and (8) other factors, risks and uncertainties discussed in CenterPoint Energy's Annual Report on Form 10-K for the fiscal year ended December 31, 2020, CenterPoint Energy's Quarterly Reports on Form 10-Q for the quarters ended March 31, 2021 and June 30, 2021 and other reports CenterPoint Energy or its subsidiaries may file from time to time with the Securities and Exchange Commission.

About CenterPoint Energy

As the only investor-owned electric and gas utility based in Texas, CenterPoint Energy, Inc. (NYSE: CNP) is an energy delivery company with electric transmission and distribution, power generation and natural gas distribution operations that serve more than 7 million metered customers in Arkansas, Indiana, Louisiana, Minnesota, Mississippi, Ohio, Oklahoma and Texas. As of June 30, 2021, the company owned approximately $36 billion in assets and also owned 53.7 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 9,500 employees, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, visit CenterPointEnergy.com.

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CenterPoint Energy restores power to all customers affected by this week’s severe weather

Evansville – Aug. 5, 2022 – CenterPoint Energy has issued the following update in southwestern Indiana:

Following the severe weather on Monday evening and Tuesday morning, nearly 48,000 customers were left without electric service across the Evansville area. Approximately 48 hours after the storms, CenterPoint Energy restored power to 97% of affected customers, leaving only approximately 1,000 without service.

As of 10:00 p.m. on Thursday, all customers affected by the storms earlier this week have had their electric service restored. 

"We are proud of the hard work and efforts of our crews to safely and quickly restore power to the majority of customers within 48 hours of the storms," said Richard Leger, Senior Vice President, Indiana Electric. 

"The extensive damages caused by multiple lines of storms with lightning and winds that exceeded more than 50 miles per hour, and gusts of nearly 70 miles per hour over a 13-hour period presented many challenges for our crews."

Over the last four days, 60 crews performing tree trimming and service restoration worked around-the-clock on approximately 320 individual outages affecting nearly 48,000 customers. On Monday evening, customer outages peaked at 30,000. Over the course of the entire four-day severe weather event, outages affected a total of 48,000 customers. In the last 24 hours, repairs to the hardest-hit areas required more than 40 pole replacements to reconnect electric service. 

Leger added, "We understand the severity of the damage and unexpected extended outages were disruptive for many of our customers this week. We appreciate their patience and understanding. Additionally, we are thankful no injuries were reported as a result of one of the most significant storms to hit our region in six years."

CenterPoint Energy reminds customers these storms may have caused damage to customer-owned equipment, such as their meter box or weatherhead – the point where the line enters the home through a pipe. In those cases, customers will need to contact a qualified electrician to make sure the damage is repaired before the company can restore service to them. After repairs are made, customers can call 1(800) 227-1376 to request reconnection of service.


CenterPoint Energy provides restoration update

Evansville – Aug. 3, 2022 – CenterPoint Energy has issued the following update as restoration efforts continue in southwestern Indiana:

CenterPoint Energy and contract crews continue to make progress on restoring customers without electric service following severe weather on Monday evening and Tuesday morning. As crews have prioritized larger outages to restore as many customers as possible at a time, the remaining outages are tied to smaller groups of customers. Therefore, the number of customers restored will progress at a slower rate. Efforts continue to clear the significant amount of fallen trees, limbs and wires and begin repairs.

"Our crews have made significant progress throughout the day on the remaining outages; however, we have not seen a storm produce this level of damage in several years," said Richard Leger, Senior Vice President of Indiana Electric. "We have more than 60 crews performing tree trimming and restoration work on the remaining outages. We understand the frustrations of those customers who are still without power, and our around-the-clock efforts will continue until the last customer is restored as safely as possible."

CenterPoint Energy is in the process of reaching out directly to customers who remain without power to communicate additional information and provide a timeframe on when they can anticipate service to be restored. Based on the current assessment of remaining restoration work, the company expects outages for some customers will last until Friday, Aug. 5.

For latest information on power outages:


CenterPoint Energy reports strong second quarter results and raises full year earnings guidance

Houston – August 2, 2022 - CenterPoint Energy, Inc. (NYSE: CNP) or "CenterPoint" today reported income available to common shareholders of $179 million, or $0.28 per diluted share on a GAAP basis, for the second quarter of 2022 compared to $0.37 of diluted earnings per share, including $0.09 of midstream for the second quarter of 2021.

  • Reported Q2 2022 earnings of $0.28 and $0.31 per diluted share on a GAAP and non-GAAP basis, respectively
  • Full year 2022 non-GAAP EPS guidance increased to $1.37-$1.39, representing an increase of 9% at the midpoint compared to full year 2021 
  • From this higher $1.37-$1.39 guidance, CNP is reaffirming industry leading non-GAAP EPS growth of 8% annually for 2023 and 2024 and mid to high-end of the 6-8% annually range from 2025 through 2030 
  • Capital spending on track for year with ~$2 billion invested as of the end of Q2 for the benefit of customers
  • Continued 30-year trend of at least 2% average annual customer growth in Houston area supporting customer affordability 

On a non-GAAP basis, EPS for the second quarter was $0.31, an 11% increase to the comparable quarter in 2021. The positive variance was primarily driven by favorable weather, usage and continued organic growth across the Houston Electric service territory, which represented an increase of approximately $0.03 per share over second quarter of 2021.   

"The full year 2022 guidance raise is driven by the increased confidence around our business performance, primarily driven by the performance of our Houston Electric business. This is the fifth time we have increased our guidance under this management team.  We are now on track to meet $1.37-$1.39 non-GAAP EPS guidance for the full year 2022, a 9% increase over 2021, setting a new and higher baseline for future earnings growth," said Dave Lesar, President and Chief Executive Officer of CenterPoint.  

"We are in year two of our ten-year, $40 billion-plus capital plan and have invested nearly 50% of our 2022 investment plan as of the second quarter. We expect to be in a position to update our investment plan on our third quarter earnings call, focused on incremental customer driven capital opportunities to continue our investment in the resiliency, safety, and growth across our system.  We are committed to executing this plan with a continued focus on customer affordability."  continued Lesar.

Lesar added.  "We remain steadfast on delivering on our premium value proposition quarter after quarter, underpinned by our pure play regulated utility model, to the benefit of our customers, investors and other stakeholders."

Earnings Outlook

Given the merger between Enable and Energy Transfer and CenterPoint's divestiture of its remaining midstream investments during 2022, CenterPoint will be presenting a consolidated non-GAAP EPS guidance range for 2022, which is the comparable measure to non-GAAP Utility EPS reported in 2021.

In addition to presenting its financial results in accordance with GAAP, including presentation of income (loss) available to common shareholders and diluted earnings (loss) per share, CenterPoint provides guidance based on non-GAAP income and non-GAAP diluted earnings per share. 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.

Management evaluates CenterPoint's financial performance in part based on non-GAAP income and non-GAAP earnings per share. Management believes that presenting these non-GAAP financial measures enhances an investor's understanding of CenterPoint'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 do 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's non-GAAP income and non-GAAP diluted earnings per share measures should be considered as a supplement to, and not as a substitute for, or superior to, income available to common shareholders and diluted earnings per share, which respectively are the most directly comparable GAAP financial measures. These non-GAAP financial measures also may be different than non-GAAP financial measures used by other companies.

2021 non-GAAP Utility EPS

"Utility EPS" (a non-GAAP financial measure) included net income from the company's Electric and Natural Gas segments, as well as after-tax Corporate and Other operating income and an allocation of corporate overhead based upon Electric's and Natural Gas's relative earnings contribution. Corporate overhead consisted primarily of interest expense, preferred stock dividend requirements, and other items directly attributable to the parent along with the associated income taxes.

  • 2021 Utility EPS excluded:
    • Earnings or losses from the change in value of the CenterPoint 2.0% Zero-Premium Exchangeable Subordinated Notes due 2029 ("ZENS") and related securities
    • Earnings and losses associated with the ownership and disposal of midstream common and preferred units (including amounts reported in discontinued operations), net gain associated with the consummation of the merger between Enable Midstream Partners, LP and Energy Transfer LP, a corresponding amount of debt related to midstream common and preferred units, and an allocation of associated corporate overhead
    • Cost associated with the early extinguishment of debt
    • Impacts associated with Arkansas and Oklahoma gas LDC sales
    • Certain impacts associated with other mergers and divestitures

2022 non-GAAP EPS guidance range

Beginning in 2022, CenterPoint no longer separates utility and midstream operations and will report on a consolidated non-GAAP EPS basis.

  • 2022 non-GAAP EPS guidance excludes:
    • Earnings or losses from the change in value of ZENS and related securities
    • Gain and impact, including related expenses, associated with mergers and divestitures, primarily the Arkansas and Oklahoma gas LDC sales
    • Income and expense related to ownership and disposal of Energy Transfer common and Series G preferred units, and a corresponding amount of debt related to the units

In providing 2022 non-GAAP EPS guidance, CenterPoint does not consider the items noted above and other potential impacts such as changes in accounting standards, impairments, or other unusual items, which could have a material impact on GAAP reported results for the applicable guidance period. The 2022 non-GAAP EPS guidance range also considers assumptions for certain significant variables that may impact earnings, such as customer growth and usage including normal weather, throughput, recovery of capital invested, effective tax rates, financing activities and related interest rates, and regulatory and judicial proceedings. To the extent actual results deviate from these assumptions, the 2022 non-GAAP EPS guidance range may not be met, or the projected annual non-GAAP EPS growth rate may change. CenterPoint is unable to present a quantitative reconciliation of forward-looking non-GAAP diluted earnings per share because changes in the value of ZENS and related securities, future impairments, and other unusual items are not estimable and are difficult to predict due to various factors outside of management's control.

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 quarter ended June 30, 2022. A copy of that report is available on the company's website, under the Investors section. Investors and others should note that we may announce material information using SEC filings, press releases, public conference calls, webcasts, and the Investor Relations page of our website.  In the future, we will continue to use these channels to distribute material information about the company and to communicate important information about the company, key personnel, corporate initiatives, regulatory updates and other matters.  Information that we post on our website could be deemed material; therefore, we encourage investors, the media, our customers, business partners and others interested in our company to review the information we post on our website.

Webcast of Earnings Conference Call

CenterPoint's management will host an earnings conference call on August 2, 2022, at 7:00 a.m. Central time / 8:00 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.

About CenterPoint Energy, Inc.

As the only investor owned electric and gas utility based in Texas, CenterPoint Energy, Inc. (NYSE: CNP) is an energy delivery company with electric transmission and distribution, power generation and natural gas distribution operations that serve more than 7 million metered customers in Indiana, Louisiana, Minnesota, Mississippi, Ohio and Texas. As of June 30, 2022, the company owned approximately $35 billion in assets. With approximately 8,900 employees, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, visit CenterPointEnergy.com.

Forward-looking Statements

This news release includes, and the earnings conference call will include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this news release, the words "anticipate," "believe," "continue," "could," "estimate," "expect," "forecast," "goal," "intend," "may," "objective," "plan," "potential," "predict," "projection," "should," "target," "will" or other similar words are intended to identify forward-looking statements. These forward-looking statements are based upon assumptions of management which are believed to be reasonable at the time made and are subject to significant risks and uncertainties. Actual events and results may differ materially from those expressed or implied by these forward-looking statements. Examples of forward-looking statements in this news release or on the earnings conference call include statements regarding capital investments (including with respect to expected updates to our 10-year capital plan, renewables projects, mobile generation spend and the City of Houston's Master Energy Plan and Resilient Now), the impacts of the February 2021 winter storm event on our business and service territories, the recovery and timing of recovery of associated gas costs and related litigation, future earnings and guidance, including long-term growth rate, operations and maintenance expense reductions, financing plans (including the timing of any future equity issuances, securitization, credit metrics and parent level debt), the impact of disruptions to the global supply chain on our business, including our generation transition plan, ZENS and impacts of the maturity of ZENS, tax planning opportunities (such as any potential use of the repairs expense deduction), future financial performance and results of operations, including with respect to regulatory actions and recoverability of capital investments, customer rate affordability, value creation, opportunities and expectations, ESG strategy, including transition to Net Zero, and any other statements that are not historical facts are forward-looking statements. Each forward-looking statement contained in this news release or discussed on the earnings conference call speaks only as of the date of this release or the earnings conference call.

Important factors that could cause actual results to differ materially from those indicated by the provided forward-looking information include, but are not limited to, risks and uncertainties relating to: (1) CenterPoint's business strategies and strategic initiatives, restructurings, joint ventures and acquisitions or dispositions of assets or businesses, including the completed sale of our Natural Gas businesses in Arkansas and Oklahoma, the exit from midstream and the internal restructuring of certain subsidiaries, which we cannot assure you will have the anticipated benefits to us; (2) industrial, commercial and residential growth in CenterPoint's service territories and changes in market demand; (3) CenterPoint's ability to fund and invest planned capital, and the timely recovery of its investments; (4) financial market and general economic conditions, including access to debt and equity capital and the effect on sales, prices and costs; (5) continued disruptions to the global supply chain and increases in commodity prices; (6) actions by credit rating agencies, including any potential downgrades to credit ratings; (7) the timing and impact of regulatory proceedings and actions and legal proceedings, including those related to Houston Electric's mobile generation and the February 2021 winter storm event; (8) legislative decisions, including tax and developments related to the environment such as global climate change, air emissions, carbon, waste water discharges and the handling of coal combustion residuals, among others, and CenterPoint's Net Zero and carbon emissions reduction goals; (9) the impact of the COVID-19 pandemic; (10) the recording of impairment charges; (11) weather variations and CenterPoint's ability to mitigate weather impacts, including impacts from the February 2021 winter storm event; (12) changes in business plans; (13) CenterPoint's ability to execute on its initiatives, targets and goals, including its Net Zero and carbon emissions reduction goals and operations and maintenance goals; and (14) other factors discussed CenterPoint's Annual Report on Form 10-K for the fiscal year ended December 31, 2021 and CenterPoint's Quarterly Reports on Form 10-Q for the quarters ended March 31, 2022 and June 30, 2022, including in the "Risk Factors" and "Cautionary Statement Regarding Forward-Looking Information" sections of such reports, and other reports CenterPoint or its subsidiaries may file from time to time with the Securities and Exchange Commission.

 


CenterPoint Energy makes significant progress on outage restoration

Evansville – Aug. 2, 2022 – CenterPoint Energy has issued the following update as restoration efforts continue in southwestern Indiana:

CenterPoint Energy and contract crews have made significant progress restoring 60% of the 30,000 customers left without power after Monday evening and Tuesday morning storms.

As of 6:00 p.m., there are 370 outages with less than 12,000 total estimated electric customers without power. Currently, more than 45 restoration and 12 tree-trimming crews are working those outages.

"Our crews have been working around-the-clock and through challenging conditions to restore power as safely and quickly as possible. Severe vegetation damage through our service territory has made it difficult for our crews to remove debris, address energized and downed lines to make necessary repairs, and restore service," said Richard Leger, Senior Vice President of Indiana Electric. "Since 7 a.m. this morning, nearly 800 work orders have been called in and completed."

Leger added, "We have secured additional contract crews to assist in restoration efforts and anticipate making significant additional progress through the night."

CenterPoint Energy is in the process of reaching out directly to customers by phone who are experiencing extended outages to discuss the steps the company is taking to restore their service. As always, CenterPoint Energy encourages all our customers to prepare now and have a back-up plan in place in the event they should experience an unexpected extended outage.

The restoration process begins with facilities vital to safety, health and welfare, such as hospitals, water treatment plants and public service facilities. After key facilities, the company follows its priority restoration process by making repairs to electrical facilities that will return power to the largest number of customers first, then continue the restoration process by prioritizing repairs to benefit the greatest number of customers until power is returned to everyone.

CenterPoint Energy reminds customers if they have experienced damage to the weatherhead – the point of entry from the service drop to the home – a licensed electrician will need to make necessary repairs before power can be restored.

CenterPoint Energy also reminds all customers to:

  • Stay away from downed power lines. Be especially mindful of downed lines that could be hidden and treat all downed lines as if they are energized.   
  • Be cautious around work crews and give them distance to assess damages and make repairs.
  • If you smell gas, get to a safe area and call both 911 and CenterPoint Energy at (800) 227-1376.
  • Don't open freezers and refrigerators any more than absolutely necessary. Opening these appliances will allow food to thaw more quickly.
  • Consider checking with others who may benefit from your assistance.
  • Report any downed lines or damage to 800-227-1376.

For latest information on power outages:

CenterPoint Energy seeks approval for 130 megawatts of renewable energy to serve southwestern Indiana

Evansville, Ind. – July 29, 2022 – CenterPoint Energy (NYSE: CNP) today announced its Indiana-based electric and natural gas business, CenterPoint Energy Indiana South, is seeking approval from the Indiana Utility Regulatory Commission (IURC) to acquire a 130-megawatt (MW) solar array as part of the company's long-term electric generation transition plan.

CenterPoint Energy has entered into an agreement with Invenergy, who will construct the 130-MW utility-owned project in Pike County, Ind., to acquire the project upon its completion. This project represents the third round of solar agreements introduced as part of the utility's plan to meet stakeholder sustainability goals and implement a more cost-effective and diversified energy generation portfolio. The agreement is subject to IURC approval. The company was previously granted approval to build a solar array in Posey County now sized at 200 MW, as well as enter into power purchase agreements totaling more than 400 MWs in Warrick, Vermillion and Knox Counties in Indiana.

"By seeking to add another universal solar project to our renewable energy portfolio, we continue to move forward with our long-term generation transition plan and remain committed to our economic and environmental goals for the region," said Steve Greenley, Senior Vice President of Generation Development. "If approved, with the addition of this project, CenterPoint Energy will be adding nearly 800 MWs of solar generation to power our southwestern Indiana customers."

Michael Kaplan, Senior Vice President of Renewable Development at Invenergy, said, "Invenergy is pleased to be working with CenterPoint Energy to support the utility's generation transition goals and to provide its customers in Indiana with clean energy. Our team looks forward to the completion of this project and growing our project portfolio within the state."

Construction of the Pike County solar project is expected to begin upon obtaining a decision from the IURC which is expected in early 2023. The project will support approximately 130 construction jobs during the construction period and is expected to be placed into service in 2025.

"We are committed to delivering reliable energy generation in the most cost-effective manner for our customers, while contributing to Indiana's clean energy infrastructure," added Greenley. "CenterPoint Energy would like to recognize officials in Pike County for their support of this project and efforts to bring cleaner energy solutions to our communities."

For more information on CenterPoint Energy's long-term electric generation transition plan, visit www.centerpointenergy.com/smartenergyfuture.

CenterPoint Energy delivers electricity to approximately 150,000 customers in southwest Indiana in all or portions of Gibson, Dubois, Pike, Posey, Spencer, Vanderburgh and Warrick counties. Programs and services are operated under the brand CenterPoint Energy by Southern Indiana Gas and Electric Company d/b/a CenterPoint Energy Indiana South.

Forward Looking Statement:

This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this news release, the words "anticipate," "believe," "continue," "could," "estimate," "expect," "forecast," "goal," "intend," "may," "objective," "plan," "potential," "predict," "projection," "should," "target," "will" or other similar words are intended to identify forward-looking statements. These forward-looking statements are based upon assumptions of management which are believed to be reasonable at the time made and are subject to significant risks and uncertainties. Actual events and results may differ materially from those expressed or implied by these forward-looking statements. Any statements in this news release regarding future events, including anticipated cost and timing of the project, including IURC approval and construction, the number of anticipated job opportunities related to the project, the anticipated size and capacity of the generation transition plan and the mix of renewable resources for CenterPoint Energy's generation transition, 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. 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 impact of disruption to the global supply chain; (2) financial market conditions; (3) general economic conditions; (4) the timing and impact of future regulatory and legislative decisions; (5) effects of competition; (6) weather variations; (7) changes in business plans; and (8) other factors, risks and uncertainties discussed in CenterPoint Energy's Annual Report on Form 10-K for the fiscal year ended December 31, 2021, CenterPoint Energy's Quarterly Report on Form 10-Q for the quarter ended March 31, 2022 and other reports CenterPoint Energy or its subsidiaries may file from time to time with the Securities and Exchange Commission.

About CenterPoint Energy
As the only investor-owned electric and gas utility based in Texas, CenterPoint Energy, Inc. (NYSE: CNP) is an energy delivery company with electric transmission and distribution, power generation and natural gas distribution operations that serve more than 7 million metered customers in Indiana, Louisiana, Minnesota, Mississippi, Ohio and Texas. As of March 31, 2022, the company owned approximately $35 billion in assets. With approximately 8,900 employees, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, visit CenterPointEnergy.com.

About Invenergy

Invenergy drives innovation in energy. Invenergy and its affiliated companies develop, own, and operate large-scale renewable and other clean energy generation and storage facilities in the Americas, Europe, and Asia. Invenergy's home office is located in Chicago, and it has regional development offices in the United States, Canada, Mexico, Spain, Japan, Poland, and Scotland.

Invenergy and its affiliated companies have successfully developed more than 30,000 megawatts of projects that are in operation, construction, or contracted, including wind, solar, transmission infrastructure and natural gas power generation and advanced energy storage projects. Learn about Invenergy at Invenergy.com.