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CenterPoint Energy Completes Greater Houston Resiliency Initiative (GHRI) Core Resiliency Actions and Announces Bold Series of Additional Resiliency Actions, Including $5 Billion in Proposed Investments

2024-08-28T05:00:00Z

Proposal reflects largest investment in Greater Houston infrastructure in the company's nearly 160-year history and includes a proposal to forego $110 million in profits

HOUSTON, Aug. 28, 2024 - CenterPoint Energy today announced the completion, ahead of schedule, of core resiliency actions as part of the first phase of its Greater Houston Resiliency Initiative (GHRI) – which included a series of targeted actions to improve the resiliency of CenterPoint Houston Electric's grid this hurricane season. In addition, in a letter to lawmakers, the company also announced the boldest series of resiliency actions in its history, including: (1) a second phase of GHRI, which will include system hardening, strategic undergrounding, self-healing grid technology and further enhancements to the company's outage tracker; and (2) a longer-term proposal – which will be filed after discussions with stakeholders, elected officials, and customers – of approximately $5 billion in resiliency investment from 2026 to 2028, potentially doubling its prior planned investment.

"We have heard the call to action from our customers and elected officials, and we are responding with bold actions. Our defining goal, going forward, is this: to build the most resilient coastal grid in the country that can better withstand the extreme weather of the future. To achieve this ambition, we will undertake a historic level of resiliency actions and investment, because this is what the people of the Greater Houston area expect and deserve," said Jason Wells, CenterPoint President and CEO.

CenterPoint's Plan of Action
CenterPoint's resiliency plans include a series of immediate, near- and longer-term actions, some of which the company has already begun, including the immediate first phase of GHRI.

Immediate Actions: Completed Ahead of Schedule
CenterPoint undertook a series of actions as part of the first phase of its GHRI to immediately strengthen the electric system and address heightened risks posed by the current hurricane season. During this phase, more than 2,500 employees and contractors were mobilized and, as of August 27, the company has successfully completed all three core resiliency actions ahead of schedule, including:

Installing more than 300 automation devices to help reduce the impact of outages during storms; (completed on 08/11/24)
Installing more than 1,000 stronger poles that can withstand more powerful winds (completed on 08/20/24); and
Trimming and/or removing hazardous vegetation from more than 2,000 miles of power lines (completed on 08/27/2024)

In addition to this immediate resiliency work, CenterPoint has completed 39 of the 42 critical actions previously identified as part of its broader GHRI plan. To learn more about this immediate phase of progress, please visit CenterPointEnergy.com/TakingAction.

Near-Term Actions (September 1 to June 1, 2025)
CenterPoint will launch the near-term phase of its resiliency actions on September 1, which will include additional actions to further: 1) strengthen grid resiliency, 2) improve public and customer communications and 3) strengthen local, community and emergency partnerships in preparation for this winter and before the 2025 hurricane season. Actions, such as further hardening of the grid, a year-round campaign on safety, and joint preparedness exercises with local emergency management offices, are outlined in the attached letter to lawmakers. The company will provide a more detailed work plan and schedule for this second phase of actions by September 30.

Longer-Term Actions (2026-2028)
As part of its longer-term strategy, CenterPoint will also propose investing approximately $5 billion from 2026 to 2028 – the largest investment in Greater Houston infrastructure in the company's nearly 160-year history. The mission of this longer-term plan of action is to build the most resilient coastal grid in the country by investing in a smarter grid of the future that can better withstand a broad spectrum of risks. The proposal, and the entire scope of these actions will be outlined in a new system resiliency plan that is expected to be filed with the Public Utility Commission of Texas on or before January 31, 2025. The new system resiliency plan will be shaped by feedback from customers, external experts, and other stakeholders, including elected officials and local agencies.

Addressing Temporary Emergency Generation Concerns
In its letter to lawmakers, the company also committed to evaluating the role of large-scale temporary emergency generation and apologized to lawmakers for not communicating more clearly to them about the cost and the limitations of such large-scale units as it worked to find solutions and protect Texans from the devastating impacts of extreme winter weather in the months following Winter Storm Uri. CenterPoint is undertaking a series of actions to address this issue, including a proposal to forego approximately $110 million in profit, which is equivalent to more than half of the equity earnings from the company's lease of temporary emergency generation.

Reinforcing Commitment to Customer Affordability
CenterPoint remains committed to affordability, as reflected by the fact that customer rates that pay for the Transmission & Distribution system have remained relatively flat over the past 10 years. CenterPoint will continue to prioritize affordability, including by conducting an independent third-party assessment of the benefits and costs of these longer-term investments.

Additional details on CenterPoint's actions are outlined in the attached letter sent to elected officials today.

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. With approximately 9,000 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 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, which include statements regarding our resiliency investments, timing, forgoing profits and related matters, 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 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 pandemics, including the COVID-19 pandemic; (2) financial market conditions; (3) general economic conditions; (4) the timing and impact of future regulatory and legislative decisions; and (5) other factors, risks and uncertainties discussed in CenterPoint Energy's Annual Report on Form 10-K for the fiscal year ended December 31, 2023 and CenterPoint's Quarterly Reports on Form 10-Q for the quarters ended March 31, 2024 and June 30, 2024 and other reports CenterPoint Energy or its subsidiaries may file from time to time with the Securities and Exchange Commission.

For more information, contact:
Communications
Media.Relations@CenterPointEnergy.com

SOURCE CenterPoint Energy

Recent News

CenterPoint Energy encourages customers to accelerate their energy efficiency journey through the Home Energy Squad®

Minneapolis – March 27, 2025 – CenterPoint Energy is encouraging Minnesota customers to spring into their energy efficiency journey with the Home Energy Squad^®. This home energy assessment program provides a personalized energy savings plan with recommendations to reduce energy waste.

Launched in 2010, the Home Energy Squad^® is provided by CenterPoint and Xcel Energy to Minnesota residential customers, including both homeowners and renters. Energy assessments may be discounted or free for customers who qualify. In 2025 alone, more than 1,000 home energy assessments have been completed for Minnesotans throughout the communities CenterPoint serves.

“At CenterPoint, we have a variety of tips, tools and programs to help customers save energy and manage their bills, and the Home Energy Squad® is just one of the many opportunities to boost the energy efficiency of their homes," said Natalie Hedde, CenterPoint's Vice President, Strategic Business Growth and Engagement. “By participating in our energy efficiency programs, customers can make a big difference in cutting energy waste, reducing monthly energy bills and lowering their carbon footprint."

During an assessment, an efficiency expert will identify areas of energy waste and install energy-saving measures such as LED lightbulbs and programmable thermostats, perform appliance and heating system safety checks and assess water heater efficiency. The expert can also connect customers to rebates, helping them upgrade to more efficient appliances and equipment, weatherization programs for air sealing and insulation and with qualified contractors.

Customer participation in CenterPoint's Minnesota energy efficiency programs has reduced carbon emissions by nearly 16.5 million metric tons over the last 29 years, equivalent to removing more than four million cars from the road, and saved customers approximately $2.6 billion.

CenterPoint is Minnesota's largest natural gas utility, serving more than 930,000 residential and business customers in over 260 communities.

For more information on the Home Energy Squad^® and company energy efficiency programs, visit CenterPointEnergy.com/HomeEnergySquad.

As spring begins, CenterPoint Energy continues progress toward strengthening the grid across the Greater Houston area and shares tips to help customers stay safe while saving energy and money

Houston – March 20, 2025 – With today marking the start of spring, CenterPoint Energy is continuing to strengthen the resiliency of the grid in key areas ahead of the 2025 hurricane season. To date, the company has completed more than 50 percent of several near-term critical resiliency actions and grid improvements outlined in the second phase of its Greater Houston Resiliency Initiative (GHRI), including installing stronger poles, adding more automation devices, undergrounding power lines and trimming hazardous vegetation.

As the company works to complete these steps before the start of hurricane season on June 1, CenterPoint is also helping customers prepare for the warmer weather ahead by sharing tools, easy-to-implement tips and resources to improve the energy efficiency of their homes, and staying safe as they complete projects around their homes.

“Our team remains fully focused on executing our historic effort to strengthen the grid and improve resiliency and reliability. As CenterPoint prepares for hurricane season, we want to remind customers of ways they can prepare, too. The first day of spring serves as a great reminder that warmer temperatures are coming. We encourage our customers to take steps to increase the energy efficiency of their homes so that they can continue to stay comfortable inside year-round while also reducing their energy use," said Tony Gardner, Senior Vice President and Chief Customer Officer at CenterPoint, "We also want to remind customers to keep safety top of mind by taking the time to contact 811 prior to starting any digging projects near their home. By taking this easy step, our customers and community members are taking a critical first step in helping keep themselves, their loved ones and neighbors safe."

Tips, tools and resources for customers to spring into energy and cost savings

Customers can do the following to help spring into energy and cost savings:

Do a spring cleaning by changing or cleaning the filters in HVAC systems: Air conditioning can represent approximately 50 percent of a home's energy use as outside temperatures increase. Regular maintenance is one of the best ways to extend the life of a home's system, so swap out or clean filters to minimize costly repairs and to keep the system running efficiently.
Maintain a comfortable temperature indoors year-round: To save energy and reduce cooling costs, use weatherstripping or caulk areas in and around a home where cooled air may escape such as around windows and doors or where warm air could enter.
Block the sun's rays during warmer days: When temperatures increase outside, keep window coverings closed when the sun is shining brightest to maintain a more comfortable indoor temperature.
Save hot water while maintaining comfort: Showering accounts for 40 percent of a home's hot water use, so energy-saving showerheads and faucet aerators can help lower energy costs and reduce hot water use without sacrificing comfort.

Upgrade to more energy efficient appliances and equipment: When replacing appliances and equipment, look for ENERGY STAR®-certified products for increased energy efficiency and cost savings over time. Energy efficiency rebates may be available for qualifying appliances.

Customers can learn more about energy savings tips and tools that help them prepare for the longer and warmer days in addition to ways to manage their monthly energy bills at CenterPointEnergy.com/SavingsTips.

GHRI Progress Milestone: More than 50% complete on several key metrics
On Sept. 30, CenterPoint announced the launch of Phase Two of the GHRI, which will strengthen the grid in advance of hurricane season, included a series of actions to strengthen resiliency, enable a self-healing power system and reduce the duration and impact of power outages. In February alone, the company made progress in key areas including:

Installed approximately 2,900 stronger, more storm-resilient poles built to withstand extreme winds;
Cleared another 417 miles of high-risk vegetation near power lines to reduce storm-related outages; and
Installed an additional 1,334 automated reliability devices to reduce the impact of outages and improve restoration times; and
Undergrounded 47 more miles of power lines to reduce the impact of extreme weather.

The resiliency actions outlined in GHRI Phase Two are expected to lead to more than 125 million fewer outage minutes annually for customers. Through early March, the company has made significant advances across its Greater Houston service area and is on track to complete its work before the start of hurricane season.

CenterPoint will continue to provide updates on its progress toward completing its critical resiliency actions and other GHRI commitments. More information and real-time updates are available at CenterPointEnergy.com/TakingAction.

Electric customers encouraged to enroll in Power Alert Service ®

In addition to reducing energy use and improving efficiency, customers are encouraged to enroll in CenterPoint Energy's Power Alert Service® to receive outage details, estimated restoration times (as available or determined) and customer-specific restoration updates in the event of a power outage. With the option to receive updates via phone call, text or email, Power Alert Service® keeps customers informed of restoration progress during an outage.

Call before you dig

Spring is a great time to begin outdoor home improvement projects. Anyone planning a project that requires digging should contact 811 at least two days prior to starting work to have underground utilities located and marked at no cost. This includes projects done by customers or their contractors, including building a fence, planting trees, installing a deck, placing a mailbox or laying a patio.

Visit 811BeforeYouDig.com to learn more about 811 and the process to have underground utility lines located and marked. For more information about natural gas safety, visit CenterPointEnergy.com/Safety.

With the start of spring, CenterPoint Energy reminds customers of tips and available resources to save energy, manage bills and stay safe

Dayton – March 20, 2025 – With today marking the start of spring, CenterPoint Energy encourages customers to leverage tools, tips and resources as part of their spring cleaning and preparation. Customers can unlock energy savings through a combination of easy-to-implement tips, remain connected to company programs and stay safe as they complete projects around their homes.

“At CenterPoint, we have tips, tools and programs to help customers save energy and manage their bills. The first day of spring serves as a great reminder that warmer temperatures are approaching, and we encourage our customers to take steps to increase the energy efficiency of their homes so that they can continue to stay comfortable inside year-round while also reducing their energy use. By taking small and easy actions, customers can make a big difference in reducing their monthly energy bills," said Tony Gardner, Senior Vice President and Chief Customer Officer at CenterPoint. “We also want to remind customers to keep safety top of mind by taking the time to contact 811 prior to starting any digging projects near their home. By taking this easy step, our customers and community members are taking a critical first step in helping keep themselves, their loved ones and neighbors safe."

Tips, tools and resources for customers to spring into energy and cost savings

Customers can do the following to help spring into energy and cost savings:

Perform a spring cleaning by changing or cleaning the filters in HVAC systems: Air conditioning can represent approximately 50 percent of a home's energy use as outside temperatures increase. Regular maintenance is one of the best ways to extend the life of a home's system, so swap out or clean filters to minimize costly repairs and keep the system running efficiently.
Maintain a comfortable temperature indoors year-round: To save energy and reduce cooling costs, use weatherstripping or caulk areas in and around a home where cooled air may escape, such as around windows and doors or where warm air could enter.
Block the sun's rays during warmer days: When temperatures increase outside, keep window coverings closed when the sun is shining brightest to maintain a more comfortable indoor temperature.
Save hot water while maintaining comfort: Showering accounts for 40 percent of a home's hot water use. Energy-saving showerheads and faucet aerators can help lower energy costs and reduce hot water use without sacrificing comfort.

Call before you dig

Spring is a great time to begin outdoor home improvement projects. Anyone planning a project that requires digging should contact 811 at least two days prior to starting work to have underground utilities located and marked at no cost. This includes projects done by customers or their contractors, including building a fence, planting trees, installing a deck, placing a mailbox or laying a patio.

With the start of spring, CenterPoint Energy reminds customers of tips and available resources to save energy, manage bills and stay safe

Minneapolis – March 20, 2025 – With today marking the start of spring, CenterPoint Energy encourages customers to leverage tools, tips and resources as part of their spring cleaning and preparation. Customers can unlock energy savings through a combination of easy-to-implement tips, remain connected to company programs and stay safe as they complete projects around their homes.

Tips, tools and resources for customers to spring into energy and cost savings

Customers can do the following to help spring into energy and cost savings:

Perform a spring cleaning by changing or cleaning the filters in HVAC systems: Air conditioning can represent approximately 50 percent of a home's energy use as outside temperatures increase. Regular maintenance is one of the best ways to extend the life of a home's system, so swap out or clean filters to minimize costly repairs and keep the system running efficiently.
Maintain a comfortable temperature indoors year-round: To save energy and reduce cooling costs, use weatherstripping or caulk areas in and around a home where cooled air may escape, such as around windows and doors or where warm air could enter.
Block the sun's rays during warmer days: When temperatures increase outside, keep window coverings closed when the sun is shining brightest to maintain a more comfortable indoor temperature.
Save hot water while maintaining comfort: Showering accounts for 40 percent of a home's hot water use. Energy-saving showerheads and faucet aerators can help lower energy costs and reduce hot water use without sacrificing comfort.
Upgrade to more energy efficient appliances and equipment: When replacing appliances and equipment, look for ENERGY STAR®-certified products for increased energy efficiency and cost savings over time. Energy efficiency rebates may be available for qualifying appliances.

Call before you dig

With the start of spring, CenterPoint Energy reminds customers of tips and available resources to save energy, manage bills and stay safe

Evansville, Ind. – March 20, 2025 – With today marking the start of spring, CenterPoint Energy encourages customers to leverage tools, tips and resources as part of their spring cleaning and preparation. Customers can unlock energy savings through a combination of easy-to-implement tips, remain connected to company programs and stay safe as they complete projects around their homes.

Tips, tools and resources for customers to spring into energy and cost savings

Customers can do the following to help spring into energy and cost savings:

Perform a spring cleaning by changing or cleaning the filters in HVAC systems: Air conditioning can represent approximately 50 percent of a home's energy use as outside temperatures increase. Regular maintenance is one of the best ways to extend the life of a home's system, so swap out or clean filters to minimize costly repairs and keep the system running efficiently.
Maintain a comfortable temperature indoors year-round: To save energy and reduce cooling costs, use weatherstripping or caulk areas in and around a home where cooled air may escape, such as around windows and doors or where warm air could enter.
Block the sun's rays during warmer days: When temperatures increase outside, keep window coverings closed when the sun is shining brightest to maintain a more comfortable indoor temperature.
Save hot water while maintaining comfort: Showering accounts for 40 percent of a home's hot water use. Energy-saving showerheads and faucet aerators can help lower energy costs and reduce hot water use without sacrificing comfort.
Upgrade to more energy efficient appliances and equipment: When replacing appliances and equipment, look for ENERGY STAR®-certified products for increased energy efficiency and cost savings over time. Energy efficiency rebates may be available for qualifying appliances.

Electric customers encouraged to enroll in Power Alert Service®

In addition to reducing energy use and improving efficiency, customers are encouraged to enroll in CenterPoint Energy's Power Alert Service® to receive outage details, estimated restoration times (as available or determined) and customer-specific restoration updates in the event of a power outage. With the option to receive updates via phone call, text or email, Power Alert Service® keeps customers informed of restoration progress during an outage.

Call before you dig