CenterPoint Energy seeks to lower customers’ electric bills
Securitization of A.B. Brown assets allows for expected customer savings
2022-05-10T05:00:00Z

Evansville – May 10, 2022 - CenterPoint Energy, Inc.'s (NYSE: CNP) Indiana-based electric and natural gas business, Southern Indiana Gas and Electric Company (CenterPoint Energy Indiana South), has filed a request with the Indiana Utility Regulatory Commission (IURC) for securitization of assets of its A.B. Brown coal plant, which should result in a decrease to customers' electric bills by an estimated nearly $60 million versus traditional rate making.

Last year, legislation was passed in Indiana allowing for a securitization pilot to benefit CenterPoint Energy's customers. CenterPoint Energy advocated for the state law change to allow this pilot to demonstrate how the tool saves customers money over traditional rate making where costs typically are recovered at a much higher rate-of-return. As previously announced, CenterPoint Energy plans to retire the A.B. Brown coal plant in late 2023 as part of its long-term electric generation transition plan.

Securitization of these assets will allow for the removal of the remaining value of the coal plant from customer rates and effectively refinance them at a much lower interest rate. The remaining value will be financed, along with other qualified costs, through the issuance of low-cost bonds enabled by the legislation. If approved, customers should see a monthly bill reduction beginning in early 2023.  Future savings are expected, as deferred costs will be included within the securitization. Securitization is dependent on plans to retire the A.B. Brown plant.

"Keeping our customers' and other stakeholders' interests top-of-mind, we are deploying a cost-effective strategy to help reduce bill impacts as we continue on with our long-term electric generation transition plan," said Steve Greenley, Senior Vice President of Generation Development for CenterPoint Energy. "CenterPoint Energy's transition to a generation portfolio consisting of mostly renewable resources is expected to save customers an estimated $320 million over the next 20 years. If approved, the securitization of the A.B. Brown assets is expected to save nearly $60 million over the same general timeframe."

While CenterPoint Energy will be the first utility to utilize securitization in Indiana, this is an established practice that has saved utility customers millions of dollars in nearly 30 states. CenterPoint Energy plans to reinvest the proceeds from the securitization bonds into its generation transition plan and invest in renewable resources such as wind- and solar-powered generation and battery storage which will be backed up by planned natural gas generation resources to maintain reliability.

"Securitization allows us to reinvest in our state and provides a catalyst for the continued growth of renewable energy in Indiana," added Greenley. "The increasing use of renewable energy for CenterPoint Energy Indiana South's generation is also expected to attract new economic development in Indiana, especially from companies with environmental and sustainability goals."

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, such as the timing and approval of the CenterPoint Energy's securitization request and the benefits therefrom, including anticipated reductions to customer bills and the success of securitization in Indiana, the timing of CenterPoint Energy's generation transition plan, including the anticipated retirement of the A.B. Brown facility, and the mix of renewable resources and expected financial benefits of such generation transition to customers, and the intended use of securitization proceeds, 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.

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CenterPoint Energy declares regular Common Stock dividend of $0.1800

HOUSTON, Sept. 29, 2022 - CenterPoint Energy, Inc.'s (NYSE: CNP) board of directors today declared a regular quarterly cash dividend of $0.1800 per share on the issued and outstanding shares of Common Stock payable on December 8, 2022 to shareholders of record at the close of business on November 17, 2022.

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 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.

For more information contact
Media:
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CenterPoint Energy mobilizes support for power restoration efforts in Florida

Houston – Sept. 27, 2022 –CenterPoint Energy has deployed nearly 100 linemen and support personnel from Houston and Indiana to assist with power restoration efforts in the Tampa, Florida area following the expected impact of Hurricane Ian later this week.

"Our linemen and support personnel are skilled to perform in any type of condition, just like they do for our customers at home," said Nathan Brownell, director of Distribution Operations and Control for CenterPoint Energy. "As part of nationwide electric utility mutual assistance programs, CenterPoint Energy is fully committed to supporting power restoration efforts at our peer utilities and restoring service to affected customers as safely and quickly as possible."

CenterPoint Energy crews will begin working 16-hour shifts as soon it is safe to do so, and will continue to take the necessary steps to protect the safety and well-being of customers, employees, contractors and communities.

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. Coming to the aid of other utilities is nothing new to CenterPoint Energy employees. Over the years, crews have responded and restored power to hundreds of thousands of customers throughout the country who have been left in the dark following hurricanes, ice storms, tornadoes and severe thunderstorms.

For updates, follow CenterPoint Energy on Twitter: @CNPAlerts and Facebook: Facebook.com/CenterPointEnergy.


Call CenterPoint Energy for Cold Weather Rule protection

Minneapolis – Sept. 26, 2022 – CenterPoint Energy is reminding residential customers about Minnesota's Cold Weather Rule, which protects Minnesotans who may have difficulty paying their heating bill by preventing disconnection of their natural gas service from Oct. 1, 2022, through April 30, 2023.

Under the Cold Weather Rule, customers are required to set up a payment plan with their utility to prevent disconnection of their service. To arrange a payment plan, CenterPoint Energy customers can call 800-245-2377 between 7 a.m. and 7 p.m., Monday-Friday, or visit CenterPointEnergy.com/Assistance.

"For any CenterPoint Energy customer who may be facing financial hardships, the most important thing to do is call us now to establish a payment plan and also see if you're eligible for energy assistance to help with your heating bills," said Christe Singleton, CenterPoint Energy's Vice President of Minnesota Gas. "As long as you follow a payment plan, the Cold Weather Rule will prevent disconnection of your natural gas service and help you and your family stay safe and warm this winter."

A payment plan takes into consideration a customer's financial situation and any other special circumstances. The payment plan must be agreeable to both the customer and CenterPoint Energy. If an agreed-upon payment plan cannot be reached, customers have a right to appeal under the Cold Weather Rule.

CenterPoint Energy representatives can also help refer customers to programs and services that provide financial assistance, including Minnesota's Energy Assistance Program. This federally-funded program helps pay for home heating costs and furnace repairs for income-qualified households. Applications are accepted beginning Oct. 1.

CenterPoint Energy customers may also sign up for an Average Monthly Billing Plan, which spreads natural gas costs throughout the year to help manage winter payment peaks. Customers can sign up at CenterPointEnergy.com/MyAccount or by calling 800-245-2377.

Customers are encouraged to take advantage of energy efficiency offerings and resources to assist in managing natural gas bills this heating season. More information on rebates, energy-saving products and the Home Energy Squad® program can be found at CenterPointEnergy.com/SaveEnergy.

CenterPoint Energy is Minnesota's largest natural gas utility, serving 900,000 residential and business customers in more than 260 communities.


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

- Renewables represent third round of proposed solar agreements related to company's Smart Energy Future Plan

- CenterPoint Energy selects Pike County for 130-megawatt solar array development

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.

For more information contact

Media Relations
Media.Relations@CenterPointEnergy.com
Investor Relations
Investor.Relations@CenterPointEnergy.com

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CenterPoint Energy declares an increase to the regular Common Stock quarterly dividend to $0.1800 and Series A Preferred Stock dividend of $30.6250

HOUSTON, July 21, 2022 - CenterPoint Energy, Inc.'s (NYSE: CNP) board of directors today declared dividends on shares of its Common Stock and Series A Perpetual Preferred Stock.

Common Stock Dividend

The company's board of directors declared a regular quarterly cash dividend of $0.1800 per share on the issued and outstanding shares of Common Stock payable on September 8, 2022 to shareholders of record at the close of business on August 18, 2022. This quarterly dividend represents a $0.01 increase over the prior quarter and aligns with an 8% annual dividend growth rate when compared to 2021.

Series A Preferred Stock Dividend

The company's board of directors declared a regular semiannual cash dividend of $30.6250 per share on the issued and outstanding shares of Series A Preferred Stock payable September 1, 2022 to shareholders of Series A Preferred Stock of record at the close of business on August 15, 2022.

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.

For more information contact
Media:
Communications
Media.Relations@CenterPointEnergy.com
Investors:
Jackie Richert
Phone        713.207.6500

 

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