City of Osakis Fire Department receive $2,350 Community Partnership Grant
CenterPoint Energy awards grants to communities for safety initiatives
2014-06-02T05:00:00Z

MINNEAPOLIS – June 2, 2014 – CenterPoint Energy’s Community Partnership Grant Program awards grants to local communities to fund safety-related equipment and projects. The company recently awarded the City of Osakis a $2,350 grant for emergency first aid lifesaving equipment kits for City Hall and the Community Center that will be used to serve the community. “At CenterPoint Energy our number one priority is safety. Through our grant program, we are able to help cities leverage local funds to purchase needed safety equipment, training or provide financial support for important safety-related projects,” said Jean Krause, Community Relations Director for CenterPoint Energy. “We are proud to support and enhance the well-being of the communities in which we live and work.”

Over the past 12 years, through its Community Partnership Grant Program, CenterPoint Energy has contributed over $1 million dollars in donations to communities for safety initiatives. To see what CenterPoint Energy is doing in the community, please visit CenterPointEnergy.com/community.

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 five million metered customers primarily in Arkansas, Louisiana, Minnesota, Mississippi, Oklahoma, and Texas. The company also owns a 54.7 percent limited partner interest in Enable Midstream Partners, a publicly traded master limited partnership it jointly controls with OGE Energy Corp., which owns, operates and develops natural gas and crude oil infrastructure assets. With more than 8,500 employees, CenterPoint Energy and its predecessor companies have been in business for more than 140 years. The utility also operates a non-regulated business in Minnesota called Home Service Plus®. For more information, visit CenterPointEnergy.com.

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Know when to evacuate following severe weather

Minneapolis – May 22, 2018 CenterPoint Energy would like to remind the public of the following important natural gas safety tips when there is severe weather:

  • Following a severe storm, be alert for leaking natural gas. If you smell, hear or see a natural gas leak, leave the area immediately on foot and tell others to do the same.  Do not drive into or near a natural gas leak or vapor cloud;
  • Once safely away from the area, call the CenterPoint Energy emergency natural gas leak hot line at 1-800-296-9815 and 911 to report the location and description of the leak and CenterPoint Energy will send a trained service technician immediately.  If the pipeline operator is not known, call 911;
  • If natural gas is leaking, do not turn the lights on or off, smoke, strike a match, use a cell phone, drive a car or operate anything that might cause a spark including a flashlight or generator; and 
  • Do not attempt to turn any natural gas valves. Improper operation of valves could make the situation worse.

 

CenterPoint Energy, Inc., headquartered in Houston, Texas, is a domestic energy delivery company that includes electric transmission and distribution, natural gas distribution and energy services operations. The company serves more than five million metered customers primarily in Arkansas, Louisiana, Minnesota, Mississippi, 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 nearly 8,000 employees, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. The utility also operates a non-regulated business in Minnesota called Home Service Plus®.  For more information, please visit CenterPointEnergy.com.

The power to make a difference in Puerto Rico

Houston – May 21, 2018 – Jesse Berard, a head line mechanic at CenterPoint Energy's Humble service center, was part of CenterPoint Energy's mutual assistance team that joined the more than 1,500 crews from other U.S. utilities to help Puerto Rico Electric Power Authority (PREPA) restore power following Hurricane Maria. "When I learned that CenterPoint Energy was part of the mutual assistance group traveling to Puerto Rico, I knew my skills and experience could make a positive difference," said Berard.

CenterPoint Energy sent two waves of mutual assistance crews to help with the power restoration in the Arecibo area. The crews faced logistical and geographical challenges. In addition, extensive portions of Puerto Rico's electric grid are located in rugged, mountainous terrain that has little or no road access due to Hurricane Maria's impact. CenterPoint Energy's mutual assistance teams were able to make great progress and restore power to more than 5,100 residents in the area.

"Because of the many challenges, this mission was unique. Crews often worked all day to restore service to only a handful of residents. Our highly skilled employees replaced a total of 276 poles and 2,674 spans of wire," said Ed Scott, director of operations for CenterPoint Energy.

This restoration mission was more difficult than any other CenterPoint Energy has worked on. A total of nine Humble service center linemen and employees were selected to help with the restoration efforts. "It was an honor to be a part of the mutual assistance crews and immensely gratifying to turn the lights on for Puerto Ricans," added Berard. "The residents of the region were very grateful. I will never forget the great memories and experiences of my time in this beautiful island."  

In addition to Berard, the following CenterPoint Energy Humble service center employees supported the restoration efforts in Puerto Rico:

  • Vincent Bustamante, line mechanic
  • Kevin Cook, head line mechanic
  • Angel Coronado, line mechanic
  • Geoffrey Hill, line mechanic
  • Joshua Gorman, apprentice lineman
  • Charles Felice, line mechanic
  • Cesar Ruiz, apprentice lineman
  • Robert Thompson, line mechanic

 

In late October, the Edison Electric Institute (EEI) and the American Public Power Association (APPA) received a request from PREPA to support power restoration efforts on the island. In early November, PREPA expanded its aid request to include the National Rural Electric Cooperative Association (NRECA).

As a result, a team of electric company storm response experts has been on the ground coordinating closely with local officials, the Federal Emergency Management Agency, and the U.S. Army Corps of Engineers. The team has been focused on assessing damages and formalizing a structure for supporting logistics, equipment needs and supply chain issues, as well as ensuring ongoing restoration efforts are completed safely, effectively and efficiently.

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.

CenterPoint Energy Mobile Energy Solutions provides uninterrupted natural gas service to New Mexico customers

Houston – May 18, 2018 – CenterPoint Energy's competitive business, Mobile Energy Solutions™ (MES), recently provided natural gas to three towns in the northern portion of New Mexico, while the natural gas pipeline that serves the area was out of service for planned maintenance. MES is a service of CenterPoint Energy Services, a wholly owned unregulated subsidiary of CenterPoint Energy, Inc. (NYSE: CNP).

"We consulted with the customer and proposed an efficient solution to prevent service interruption by using our skilled personnel and specialized equipment," said James Hulse, director of CenterPoint Energy Intrastate Pipelines (CEIP) and MES for CenterPoint Energy. "We were pleased to safely provide portable natural gas supply to ensure residents were not impacted during the planned pipeline outage."

CenterPoint Energy and the pipeline operator shared the primary objective of safe and impeccable customer service. MES collaborated with first responders and local government officials, including the city, fire and police departments, and State Highway Patrol to plan and safely execute the project.

Twenty-five homes were served individually using small 2 Mcf farm tap trailers, three sites were served with CNG tube trailers and one site with high pressure, high flow LNG. MES mobilized purpose-built equipment to every site and managed the logistics and supply for 18 LNG tankers. "This was likely, the most complex mobile natural gas project ever performed," added Hulse.

MES performs more than 100 projects a year and has more than 20 years of broad project experience delivering CNG and LNG across the United States. Businesses that have benefitted from MES' expertise include commercial, industrial and manufacturing companies, utilities, municipalities, transmission pipelines, and institutions like medical centers, correctional centers and universities. The company's team and equipment are certified to meet the strict requirements of the U.S. Department of Transportation and can serve customers throughout the U.S.

To learn more about the benefits of temporary natural gas please contact the company at MES@CenterPointEnergy.com, 844-MOBILE-4 or visit CenterPointEnergy.com/MES.

CenterPoint Energy, Inc., headquartered in Houston, Texas, is a domestic energy delivery company that includes electric transmission and distribution, natural gas distribution and energy services operations. The company serves more than five million metered customers primarily in Arkansas, Louisiana, Minnesota, Mississippi, 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 nearly 8,000 employees, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, please visit www.CenterPointEnergy.com.

CenterPoint Energy reports first quarter 2018 earnings of $0.38 per diluted share; $0.55 per diluted share on a guidance basis

Houston - May 4, 2018 - CenterPoint Energy, Inc. (NYSE: CNP) today reported net income of $165 million, or $0.38 per diluted share, for the first quarter of 2018, compared with $192 million, or $0.44 per diluted share for the same period of the prior year. On a guidance basis, first quarter 2018 earnings were $0.55 per diluted share, consisting of $0.43 from utility operations and $0.12 from midstream investments. First quarter 2017 earnings on a guidance basis were $0.37 per diluted share, consisting of $0.27 from utility operations and $0.10 from midstream investments. 

Operating income for the first quarter of 2018 was $251 million, compared with $291 million in the first quarter of the prior year. The retrospective adoption of the accounting standard for compensation-retirement benefits (ASU 2017-07) resulted in an increase to operating income and a corresponding decrease to other income of $17 million for the first quarter of 2017. Equity income from midstream investments was $69 million for the first quarter of 2018, compared with $72 million for the first quarter of the prior year. 

"We are off to a strong start this year," said Scott M. Prochazka, president and chief executive officer of CenterPoint Energy. "Continued growth across our service territories, rate recovery and Energy Services' performance all position us to be at the high end of our 2018 EPS guidance.  Beyond 2018 we are looking forward to closing the recently announced merger agreement with Vectren in the first quarter of 2019."

Business Segments

Electric Transmission & Distribution

The electric transmission & distribution segment reported operating income of $115 million for the first quarter of 2018, consisting of $99 million from the regulated electric transmission & distribution utility operations (TDU) and $16 million related to securitization bonds. Operating income for the first quarter of 2017 was $86 million, consisting of $66 million from the TDU and $20 million related to securitization bonds.

Operating income for the TDU benefited primarily from higher equity return related to the annual true-up of transition charges, rate relief and increased usage resulting from favorable weather and customer growth. These benefits were partially offset by lower revenues reflecting the lower federal tax rate due to the Tax Cuts and Jobs Act (TCJA) and higher operation and maintenance expenses. 

The retrospective adoption of ASU 2017-07 resulted in an increase to electric transmission and distribution operating income and a corresponding decrease to other income of $8 million for the first quarter of 2017. 

Natural Gas Distribution

The natural gas distribution segment reported operating income of $156 million for the first quarter of 2018, compared with $168 million for the same period of 2017. Operating income benefited from rate relief, increased usage due to favorable weather and customer growth. These increases were more than offset by lower revenues reflecting the lower federal tax rate due to the TCJA, higher operation and maintenance expenses, higher taxes due primarily to the Minnesota property tax refund of $9 million in 2017, and higher depreciation and amortization expenses.

The retrospective adoption of ASU 2017-07 resulted in an increase to natural gas distribution operating income and a corresponding decrease to other income of $4 million for the first quarter of 2017.

Energy Services

The energy services segment reported an operating loss of $26 million for the first quarter of 2018, which included a mark-to-market loss of $80 million, compared with operating income of $35 million for the same period in 2017, which included a mark-to-market gain of $15 million.  Excluding mark-to-market adjustments, operating income was $54 million for the first quarter of 2018 compared with $20 million for the same period of 2017. The increase in operating income was primarily due to incremental volumes from customers and improved margin rates, resulting from commercial opportunities attributable to recent acquisitions and from colder than normal weather in several U.S. regions.

Midstream Investments

The midstream investments segment reported $69 million of equity income for the first quarter of 2018, compared with $72 million in the first quarter of the prior year. 

Earnings Outlook

CenterPoint Energy anticipates achieving the high end of the $1.50 - $1.60 guidance range for 2018, excluding one-time costs associated with the proposed Vectren merger. This guidance is inclusive of Enable's net income guidance of $375 million - $445 million announced on Enable Midstream's first quarter earnings call on May 2, 2018. The guidance range assumes ownership of 54.0 percent of the common units representing limited partner interests in Enable Midstream and includes the amortization of CenterPoint Energy's basis differential in Enable Midstream and effective tax rates. CenterPoint Energy does not include other potential Enable Midstream impacts on guidance, such as any changes in accounting standards or unusual items. 

The guidance range considers utility operations performance to date and certain significant variables that may impact earnings, such as weather, throughput, commodity prices, effective tax rates, financing activities, and regulatory and judicial proceedings to include regulatory action as a result of recent tax reform legislation.

In providing this guidance, CenterPoint Energy uses a non-GAAP measure of adjusted diluted earnings per share that does not consider other potential impacts, such as changes in accounting standards or unusual items, earnings or losses from the change in the value of the ZENS securities and the related stocks, or the timing effects of mark-to-market accounting in the company's Energy business.

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 period ended March 31, 2018. A copy of that report is available on the company's website, under the Investors section. Other filings the company makes with the SEC and certain documents relating to its corporate governance can also be found under the Investors section. 

Webcast of Earnings Conference Call

CenterPoint Energy's management will host an earnings conference call on Friday, May 4, 2018, at 10:00 a.m. Central time/11:00 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.

 

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 five million metered customers primarily in Arkansas, Louisiana, Minnesota, Mississippi, 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 more than 8,000 employees, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, go to www.CenterPointEnergy.com.

 

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 earnings, and future financial performance and results of operations, including, but not limited to earnings guidance, targeted dividend growth rate 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.

 

Risks Related to CenterPoint Energy

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 performance of Enable Midstream Partners, LP (Enable), the amount of cash distributions CenterPoint Energy receives from Enable, Enable's ability to redeem the Series A Preferred Units in certain circumstances and the value of CenterPoint Energy's interest in Enable, and factors that may have a material impact on such performance, cash distributions and value, including factors such as: (A) competitive conditions in the midstream industry, and actions taken by Enable's customers and competitors, including the extent and timing of the entry of additional competition in the markets served by Enable; (B) the timing and extent of changes in the supply of natural gas and associated commodity prices, particularly prices of natural gas and natural gas liquids (NGLs), the competitive effects of the available pipeline capacity in the regions served by Enable, and the effects of geographic and seasonal commodity price differentials, including the effects of these circumstances on re-contracting available capacity on Enable's interstate pipelines; (C) the demand for crude oil, natural gas, NGLs and transportation and storage services; (D) environmental and other governmental regulations, including the availability of drilling permits and the regulation of hydraulic fracturing; (E) recording of non-cash goodwill, long-lived asset or other than temporary impairment charges by or related to Enable; (F) changes in tax status; (G) access to debt and equity capital; and (H) the availability and prices of raw materials and services for current and future construction projects; (2) industrial, commercial and residential growth in CenterPoint Energy's service territories and changes in market demand, including the effects of energy efficiency measures and demographic patterns; (3) timely and appropriate rate actions that allow recovery of costs and a reasonable return on investment; (4) future economic conditions in regional and national markets and their effect on sales, prices and costs; (5) weather variations and other natural phenomena, including the impact of severe weather events on operations and capital; (6) state and federal legislative and regulatory actions or developments affecting various aspects of CenterPoint Energy's and Enable's businesses, including, among others, energy deregulation or re-regulation, pipeline integrity and safety and changes in regulation and legislation pertaining to trade, health care, finance and actions regarding the rates charged by our regulated businesses; (7) tax reform and legislation, including the effects of the comprehensive tax reform legislation informally referred to as the Tax Cuts and Jobs Act and uncertainties involving state commissions' and local municipalities' regulatory requirements and determinations regarding the treatment of excess deferred taxes and CenterPoint Energy's rates; (8) CenterPoint Energy's ability to mitigate weather impacts through normalization or rate mechanisms, and the effectiveness of such mechanisms; (9) the timing and extent of changes in commodity prices, particularly natural gas, and the effects of geographic and seasonal commodity price differentials; (10) actions by credit rating agencies; (11) changes in interest rates and their impact on CenterPoint Energy's costs of borrowing and the valuation of its pension benefit obligation; (12) problems with regulatory approval, construction, implementation of necessary technology or other issues with respect to major capital projects that result in delays or in cost overruns that cannot be recouped in rates; (13) local, state and federal legislative and regulatory actions or developments relating to the environment, including those related to global climate change; (14) the impact of unplanned facility outages; (15) any direct or indirect effects on CenterPoint Energy's or Enable's facilities, operations and financial condition resulting from terrorism, cyber-attacks, data security breaches or other attempts to disrupt CenterPoint Energy's businesses or the businesses of third parties, or other catastrophic events such as fires, earthquakes, explosions, leaks, floods, droughts, hurricanes, pandemic health events or other occurrences; (16) CenterPoint Energy's ability to invest planned capital and the timely recovery of CenterPoint Energy's investment in capital; (17) CenterPoint Energy's ability to control operation and maintenance costs; (18) the sufficiency of CenterPoint Energy's insurance coverage, including availability, cost, coverage and terms; (19) the investment performance of CenterPoint Energy's pension and postretirement benefit plans; (20) commercial bank and financial market conditions, CenterPoint Energy's access to capital, the cost of such capital, and the results of CenterPoint Energy's financing and refinancing efforts, including availability of funds in the debt capital markets; (21) changes in rates of inflation; (22) inability of various counterparties to meet their obligations to CenterPoint Energy; (23) non-payment for CenterPoint Energy's services due to financial distress of its customers; (24) the extent and effectiveness of CenterPoint Energy's risk management and hedging activities, including but not limited to, its financial and weather hedges; (25) timely and appropriate regulatory actions allowing securitization for any future hurricanes or natural disasters or other recovery of costs, including costs associated with Hurricane Harvey; (26) CenterPoint Energy's or Enable's potential business strategies and strategic initiatives, including restructurings, joint ventures and acquisitions or dispositions of assets or businesses (including a reduction of interests in Enable, if any, whether through CenterPoint Energy's decision to sell all or a portion of the Enable common units it owns in the public equity markets or otherwise, subject to certain limitations), which CenterPoint Energy cannot assure will be completed or will have the anticipated benefits to us or Enable; (27) acquisition and merger activities involving CenterPoint Energy or its competitors, including the ability to successfully complete merger, acquisition or divestiture plans; (28) the expected timing, likelihood and benefits of completion of CenterPoint Energy's proposed merger with Vectren Corporation (Vectren), including the timing, receipt and terms and conditions of any required approvals by Vectren's shareholders and governmental and regulatory agencies that could reduce anticipated benefits or cause the parties to delay or abandon the proposed transactions, as well as the ability to successfully integrate the businesses and realize anticipated benefits, the possibility that long-term financing for the proposed transactions may not be put in place before the closing of the proposed transactions and the risk that the credit ratings of the combined company or its subsidiaries may be different from what the companies expect; (29) CenterPoint Energy's or Enable's ability to recruit, effectively transition and retain management and key employees and maintain good labor relations; (30) the outcome of litigation; (31) the ability of retail electric providers (REPs), including REP affiliates of NRG and Vistra Energy Corp., formerly known as TCEH Corp., to satisfy their obligations to CenterPoint Energy and its subsidiaries; (32) the ability of GenOn Energy, Inc. (formerly known as RRI Energy, Inc., Reliant Energy and RRI), a wholly-owned subsidiary of NRG Energy, Inc. (NRG), and its subsidiaries, currently the subject of bankruptcy proceedings, to satisfy their obligations to CenterPoint Energy, including indemnity obligations; (33) changes in technology, particularly with respect to efficient battery storage or the emergence or growth of new, developing or alternative sources of generation; (34) the timing and outcome of any audits, disputes and other proceedings related to taxes; (35) the effective tax rates; (36) the effect of changes in and application of accounting standards and pronouncements; and (37) 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 quarter ended March 31, 2018 and other reports CenterPoint Energy or its subsidiaries may file from time to time with the Securities and Exchange Commission.

 

Risks Related to the Merger

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 risk that Vectren may be unable to obtain shareholder approval for the proposed transactions, (2) the risk that CenterPoint Energy or Vectren may be unable to obtain governmental and regulatory approvals required for the proposed transactions, or that required governmental and regulatory approvals or agreements with other parties interested therein may delay the proposed transactions or may be subject to or impose adverse conditions or costs, (3) the occurrence of any event, change or other circumstances that could give rise to the termination of the proposed transactions or could otherwise cause the failure of the proposed transactions to close, (4) the risk that a condition to the closing of the proposed transactions or the committed financing may not be satisfied, (5) the failure to obtain, or to obtain on favorable terms, any equity, debt or other financing necessary to complete or permanently finance the proposed transactions and the costs of such financing, (6) the outcome of any legal proceedings, regulatory proceedings or enforcement matters that may be instituted relating to the proposed transactions, (7) the receipt of an unsolicited offer from another party to acquire assets or capital stock of Vectren that could interfere with the proposed transactions, (8) the timing to consummate the proposed transactions, (9) the costs incurred to consummate the proposed transactions, (10) the possibility that the expected cost savings, synergies or other value creation from the proposed transactions will not be realized, or will not be realized within the expected time period, (11) the risk that the companies may not realize fair values from properties that may be required to be sold in connection with the merger, (12) the credit ratings of the companies following the proposed transactions, (13) disruption from the proposed transactions making it more difficult to maintain relationships with customers, employees, regulators or suppliers, and (14) the diversion of management time and attention on the proposed transactions.

 

Use of Non-GAAP Financial Measures by CenterPoint Energy in Providing Guidance

In addition to presenting its financial results in accordance with generally accepted accounting principles (GAAP), including presentation of net income and diluted earnings per share, CenterPoint Energy also provides guidance based on adjusted net income and adjusted diluted earnings per share, which are non-GAAP financial measures. 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. CenterPoint Energy's adjusted net income and adjusted diluted earnings per share calculation excludes from net income and diluted earnings per share, respectively, the impact of ZENS and related securities and mark-to-market gains or losses resulting from the company's Energy Services business.  CenterPoint Energy is unable to present a quantitative reconciliation of forward looking adjusted net income and adjusted diluted earnings per share because changes in the value of ZENS and related securities and mark-to-market gains or losses resulting from the company's Energy Services business are not estimable.

Management evaluates the company's financial performance in part based on adjusted net income and adjusted diluted earnings per share.  We believe that presenting these non-GAAP financial measures enhances an investor's understanding of CenterPoint Energy'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 does 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 Energy's adjusted net income and adjusted diluted earnings per share non-GAAP financial measures should be considered as a supplement to, and not as a substitute for, or superior to, net income 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.

 

Additional Information and Where to Find It

In connection with the proposed transactions, Vectren expects to file a proxy statement, as well as other materials, with the SEC. WE URGE INVESTORS TO READ THE PROXY STATEMENT AND THESE OTHER MATERIALS FILED WITH THE SEC CAREFULLY WHEN THEY BECOME AVAILABLE BEFORE MAKING ANY VOTING OR INVESTMENT DECISION BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED MERGER.  Investors will be able to obtain free copies of the proxy statement (when available) and other documents that will be filed by Vectren with the SEC at http://www.sec.gov, the SEC's website, or from Vectren's website (http://www.vectren.com) under the tab, "Investors" and then under the heading "SEC Filings."  Security holders may also read and copy any reports, statements and other information filed by Vectren with the SEC, at the SEC public reference room at 100 F Street, N.E., Washington, D.C. 20549. Please call the SEC at 1-800-SEC-0330 or visit the SEC's website for further information on its public reference room.

Participants in the Solicitation

CenterPoint Energy, Vectren and certain of their respective directors, executive officers and other persons may be deemed to be participants in the solicitation of proxies from Vectren's shareholders with respect to the proposed transactions. Information regarding the directors and executive officers of CenterPoint Energy is available in its definitive proxy statement for its 2018 annual meeting, filed with the SEC on March 15, 2018, and information regarding the directors and executive officers of Vectren is available in its definitive proxy statement for its 2018 annual meeting, filed with the SEC on March 22, 2018.  More detailed information regarding the identity of potential participants, and their direct or indirect interests, by securities, holdings or otherwise, will be set forth in the proxy statement and other materials when they are filed with the SEC in connection with the proposed transaction.

 

The power to make a difference in Puerto Rico

Houston – April 27, 2018 – Daniel Santamaria, a line mechanic at CenterPoint Energy's South Houston service center, was part of CenterPoint Energy's mutual assistance team that joined the more than 1,500 crews from other U.S. utilities to help Puerto Rico Electric Power Authority (PREPA) restore power following Hurricane Maria. "When I learned that CenterPoint Energy was part of the mutual assistance group traveling to Puerto Rico, I knew my skills and experience could make a positive difference," said Santamaria.

CenterPoint Energy sent two waves of mutual assistance crews to help with the power restoration in the Arecibo area. The crews faced logistical and geographical challenges. In addition, extensive portions of Puerto Rico's electric grid are located in rugged, mountainous terrain that has little or no road access due to Hurricane Maria's impact. CenterPoint Energy's mutual assistance teams were able to make great progress and restore power to more than 5,100 residents in the area.

"Because of the many challenges, this mission was unique. Crews often worked all day to restore service to only a handful of residents. Our highly skilled employees replaced a total of 276 poles and 2,674 spans of wire," said Ed Scott, director of operations for CenterPoint Energy.

This restoration mission was more difficult than any other CenterPoint Energy has worked on. A total of 14 South Houston service center linemen and employees were selected to help with the restoration efforts. "It was an honor to be a part of the mutual assistance crews and immensely gratifying to turn the lights on for Puerto Ricans," added Santamaria. "The residents of the region were very grateful. I will never forget the great memories and experiences of my time in this beautiful island."   

In addition to Santamaria, the following CenterPoint Energy South Houston service center employees supported the restoration efforts in Puerto Rico:

  • Brendan Riedel, safety specialist II
  • Gabe Ramirez, material handler
  • Nemecio Castillo, automotive vehicle technician
  • Gerard Cornett, safety operations manager
  • Randy Morris, head automotive vehicle technician
  • John Culpepper, head line mechanic
  • Carlos Pereda, line mechanic
  • Dane Culver, lineman
  • Arturo Cisneros, material handler
  • Kevin Hammerly, material handler
  • Jason Hill, line mechanic
  • Jason Hughes, head line mechanic
  • Lane Mauldin, apprentice line mechanic

In late October, the Edison Electric Institute (EEI) and the American Public Power Association (APPA) received a request from PREPA to support power restoration efforts on the island. In early November, PREPA expanded its aid request to include the National Rural Electric Cooperative Association (NRECA).

As a result, a team of electric company storm response experts has been on the ground coordinating closely with local officials, the Federal Emergency Management Agency, and the U.S. Army Corps of Engineers. The team has been focused on assessing damages and formalizing a structure for supporting logistics, equipment needs and supply chain issues, as well as ensuring ongoing restoration efforts are completed safely, effectively and efficiently.

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.