Gov. Holcomb Announces State Equity Chief

​INDIANAPOLIS — Governor Eric J. Holcomb today announced Karrah A. Herring will serve as Indiana's first-ever chief equity, inclusion and opportunity officer.

"My goal is to better build diversity and foster an inclusive environment within state government and the services we provide so every Hoosier can take full advantage of their gifts and potential," Gov. Holcomb said. "Karrah will guide every state agency with her impressive experience at one of our state's world-renowned universities."

In addition to naming Herring, the governor also announced that the CenterPoint Energy Foundation is supporting the state's diversity and inclusion programs and services.

"The CenterPoint Energy Foundation has stepped up with a financial contribution for this effort because they understand getting this right is important for the long-term quality of life and growth in this state," Gov. Holcomb said. "We are grateful for their focus on fostering more understanding, respect and trust in areas of diversity and inclusion."

Herring currently serves as the director of public affairs for the University of Notre Dame, where she has worked since 2011. From 2014 until 2018, she served on Notre Dame's Human Resource's Senior Leadership Team as director of the Office of Institutional Equity and Title IX coordinator. In this role, Herring provided oversight and support of the university's efforts to comply with federal and state civil rights laws related to policies prohibiting discrimination, harassment, and retaliation. Herring created Notre Dame's affirmative action plans, had oversight of employee disability compliance for the campus, and oversaw workplace investigations falling under Title VII and Title IX.

Herring earned her undergraduate degree from Purdue University and her law degree from Valparaiso University.

"I am honored to join Gov. Holcomb's administration and be named the state's first chief equity, inclusion and opportunity officer," Herring said. "This is an incredible opportunity to drive cultural change across state government workplaces and essential state services by increasing equity and inclusion."

Gov. Holcomb announced the creation of the chief equity, inclusion and opportunity officer during his August address to the state. The officer will focus on improving state government operations as well as drive systemic change to remove hurdles in the government workplace and services the state provides. Herring will help agencies develop strategic plans to remove any barriers. As a member of the governor's cabinet, Herring will report directly to the governor.

Through its charitable foundation, CenterPoint Energy has been in discussions with the state since the announcement of the position in August to help understand how they may partner with the state of Indiana to enhance diversity and inclusion programs. The CenterPoint Energy Foundation, through its strategic giving areas, supports programs that serve under-resourced populations to help communities thrive.

Herring starts her new role on Feb. 1, 2021. A headshot is available to download here: https://www.flickr.com/photos/govholcomb/50620964243/in/dateposted/

2020-11-19T06:00:00Z
CenterPoint Energy gains approval for made-in-Minnesota renewable natural gas

Minneapolis – Nov. 19, 2020 – CenterPoint Energy (NYSE: CNP) announced today it has received approval from the Minnesota Public Utilities Commission to open its natural gas distribution system to made-in-Minnesota renewable natural gas (RNG). RNG is produced by recycling biogas from organic materials such as agricultural manure, wastewater and commercial food waste.

Earlier this year, CenterPoint Energy submitted the proposal to allow Minnesota RNG suppliers to "interconnect" with its pipeline system. Suppliers would pay for the interconnection, with no cost to the utility's customers. CenterPoint Energy will require RNG suppliers to meet gas quality standards, including ongoing testing, to ensure that RNG entering the utility's system is interchangeable with conventional natural gas.

CenterPoint Energy is the state's largest natural gas utility, serving more than 870,000 customers in 260 communities.

The RNG proposal was supported by the Minnesota Department of Commerce, which called the proposal "innovative" and said it "appreciates CenterPoint Energy's efforts to provide an opportunity for RNG producers and/or developers who are concerned about reducing greenhouse gas emissions and/or encouraging domestic energy use."

In addition, 20 different organizations and businesses, including prospective RNG producers and project developers, submitted comments to the Commission in support of the proposal. The Commission approved the proposal after adding several technical modifications and reporting requirements.

"Renewable Natural Gas is part of CenterPoint Energy's ongoing commitment to pursue innovative clean energy solutions," said Brad Tutunjian, Vice President of Minnesota Regional Operations. "We are already in discussions with potential RNG producers who are interested in the opportunity to work with us to build a Minnesota RNG industry that can help diversify our energy supply, improve waste management and boost the economy, especially in rural areas."

RNG has significant potential to reduce greenhouse gas emissions by offering a productive use for waste methane gas that might otherwise be released directly into the air and by replacing conventional fossil-fuel natural gas with a renewable resource. Depending on the source, RNG can even have a net negative carbon impact (taking more carbon out of the environment than it produces).

Interconnection with CenterPoint Energy's distribution system can promote Minnesota RNG production by making it easier for producers to sell their product to existing markets. Initially, Minnesota-made RNG is expected to pass through interstate pipelines for use in other states that offer financial incentives. But CenterPoint Energy ultimately hopes to make RNG available to its customers in Minnesota.

As part of its commitment to clean energy innovation, CenterPoint Energy has also proposed the bipartisan Natural Gas Innovation Act at the Minnesota Legislature. It would allow a natural gas utility to submit an alternative resource plan with the Public Utilities Commission to invest further in alternative fuels, such as RNG and renewable hydrogen, as well as new energy-efficiency and carbon-capture technologies to reduce or avoid greenhouse gas emissions

While the Senate passed the legislation earlier this year by a 62-4 margin, the House did not take action before adjournment. The legislation will be re-introduced in 2021.

 

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 September 30, 2020, the company owned approximately $33 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 9,600 employees, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, visit CenterPointEnergy.com.

 

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 Company's commitment to carbon emission reductions and innovative clean energy solutions, its RNG program and the expected opportunities and benefits derived therefrom and proposed legislation regarding alternative fuels, 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, 2019, CenterPoint Energy's Quarterly Reports on Form 10-Q for the quarters ended March 31, 2020, June 30, 2020 and September 30, 2020 and other reports CenterPoint Energy or its subsidiaries may file from time to time with the Securities and Exchange Commission.

 

2020-11-19T06:00:00Z
CenterPoint Energy Names Kenneth E. Coleman Senior Vice President and Chief Information Officer

HOUSTON, Nov. 12, 2020 - CenterPoint Energy, Inc. (NYSE: CNP) today announced that Kenneth E. Coleman has been named as Senior Vice President and Chief Information Officer, effective Nov. 16. Coleman will lead the company's enterprise-wide information technology strategy, including the development, maintenance, use and security of CenterPoint Energy's computer systems, software and networks. He will report to Gregory Knight, Executive Vice President, Customer Transformation and Business Services.

"Kenny joins CenterPoint Energy's leadership team with a proven track record of building and leading world-class technology management and product development organizations, with a focus on origination of new projects and strategic planning for growth," said Knight. "Under Kenny's leadership, we will continue to leverage technology, data and analytics to support enterprise-wide business goals and drive innovative solutions for improving the customer experience and the company's business and workforce efficiency."

Coleman joins CenterPoint Energy following roles of increasing responsibility over more than 20 years at Southern Company and its subsidiaries, including serving as Senior Vice President and CIO where he led enterprise-wide IT. Most recently, Coleman served as President and CEO of the Birmingham Business Alliance (BBA) where he was responsible for developing collaborative efforts between the BBA and its community partners to lead economic growth for the seven-county Birmingham region.

Coleman earned a Bachelor of Science degree in Communications from the University of New Haven in New Haven, Conn., and a Master of Business Administration degree from the University of Alabama.

Coleman has served on the board of directors for the Boys and Girls Clubs of Metro Atlanta, Midtown Alliance (Atlanta) and WorkSource DeKalb. He is a faculty member for the Advanced Economic Development Leadership (AEDL) program and has served on customer advisory councils for Oracle, Verizon and the Edison Electric Institute (EEI). Coleman is also a member of the 100 Black Men of Atlanta, the American Association of Blacks in Energy (AABE) and the Information Technology Senior Management Forum (ITSMF).

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 September 30, 2020, the company owned approximately $33 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 9,600 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:
John Sousa
Phone  713.619.5143
Investors:
David Mordy
Phone  713.207.6500

SOURCE CenterPoint Energy, Inc.

2020-11-12T06:00:00Z
CenterPoint Energy reports Q3 2020 earnings of $0.13 per diluted share; $0.34 diluted EPS on a guidance basis, with $0.29 diluted EPS from utility operations and $0.05 diluted EPS from midstream investments
  • Utilities led company with strong third quarter results
  • Raising 2020 Utility EPS guidance range to $1.12 - $1.20 and reiterating 5% - 7% Utility EPS guidance basis growth rate target
  • Third quarter 2020 GAAP results include after-tax non-cash impairment charges of $92 million or $0.15 per diluted share for the company's share of impairment charges recorded by Enable

Houston - Nov. 5, 2020 - CenterPoint Energy, Inc. (NYSE: CNP) today reported income available to common shareholders of $69 million, or $0.13 per diluted share, for the third quarter of 2020, compared to income available to common shareholders of $241 million, or $0.47 per diluted share, for the third quarter of 2019. The third quarter 2020 results included after-tax non-cash impairment charges of $92 million or $0.15 per diluted share for the company's share of impairment charges recorded by Enable Midstream Partners, LP ("Enable").

On a guidance basis, third quarter 2020 earnings were $0.34 per diluted share, with $0.29 per diluted share from utility operations, and $0.05 per diluted share from midstream investments, excluding non-cash impairment charges. Third quarter 2019 earnings, on a guidance basis, were $0.47 per diluted share, with $0.39 per diluted share from utility operations and $0.08 per diluted share from midstream investments. See "Reconciliation of Consolidated income (loss) available to common shareholders and diluted earnings (loss) per share (GAAP) to guidance basis income and guidance basis diluted earnings per share (Non-GAAP)" and "Earnings Outlook and Non-GAAP Considerations" below.

"Our strong third quarter results confirm our commitment to delivering value for our customers and shareholders," said Dave Lesar, President and Chief Executive Officer of CenterPoint Energy. "Given the strength of our results, we are raising our 2020 guidance basis Utility EPS range to $1.12 - $1.20."

Lesar added, "We also recently concluded the work of the Business Review and Evaluation Committee of the Board. We are eager to share our strategy and invite investors to join management for a virtual Investor Day on December 7, 2020."

"During our Investor Day, we will highlight our updated long-term annual rate base growth projection of approximately 10%. This rate base growth is central to our strategy to deliver consistent year-over-year earnings growth to investors and improve service to our customers. The projected additional capital expenditures driving this 10% annual rate base growth not only put us in a position to reiterate our 5% - 7% five-year guidance basis Utility EPS annual growth target, but gives us confidence in being able to deliver results at the top end of that range. I remain greatly energized about CenterPoint Energy's future and will continue to work tirelessly to drive maximum value for all of our stakeholders."

Earnings Outlook and Non-GAAP Considerations

To provide greater transparency on utility earnings, 2020 guidance will be presented in two components, a guidance basis Utility EPS range and a Midstream Investments EPS expected range.

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 Energy provides guidance based on guidance basis income and guidance basis 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.

Management evaluates CenterPoint Energy's financial performance in part based on guidance basis earnings per share. Management believes that presenting these non-GAAP financial measures enhances an investor's understanding of CenterPoint Energy's overall financial performance, including the impact of its Enable investment, 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 Energy's guidance basis income and guidance basis diluted earnings per share non-GAAP financial 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.

(1) Utility EPS Guidance Range

  • The Utility EPS guidance range includes net income from Houston Electric, Indiana Electric and Natural Gas Distribution segments, as well as after tax Corporate and Other operating income.
  • The 2020 Utility EPS guidance range reflects dilution and earnings as if the Series C preferred stock were issued as common stock.
  • The Utility EPS guidance excludes:
    • Earnings or losses from the change in value of ZENS and related securities
    • Certain expenses associated with merger integration and Business Review and Evaluation Committee activities
    • Severance costs
    • Results related to Infrastructure Services and Energy Services, including costs and impairment resulting from the sale of those businesses
    • Midstream Investments and allocation of associated corporate overhead

In providing this guidance, CenterPoint Energy 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 2020 Utility EPS guidance range also considers operations performance to date and assumptions for certain significant variables that may impact earnings, such as customer growth (above 2% for electric operations and 1% for natural gas distribution) and usage including normal weather, throughput, recovery of capital invested, effective tax rates, financing activities and related interest rates, regulatory and judicial proceedings, and anticipated cost savings as a result of the merger. In addition, the Utility EPS guidance range incorporates a full-year COVID-19 scenario range of $0.10 - $0.15 which assumes reduced demand levels and miscellaneous revenues with the second quarter as the peak and reflects anticipated deferral and recovery of certain incremental expenses, including bad debt. The COVID-19 scenario range also assumes a gradual re-opening of the economy in CenterPoint Energy's service territories, with anticipated reduced demand and lower miscellaneous revenues over the remainder of 2020. The 2020 Utility EPS guidance range also assumes an allocation of corporate overhead based upon its relative earnings contribution. Corporate overhead consists of interest expense, preferred stock dividend requirements, income on Enable preferred units and other items directly attributable to the parent along with the associated income taxes. CenterPoint Energy is unable to present a quantitative reconciliation of forward-looking guidance basis 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.

(2) Midstream Investments EPS Expected Range

The 2020 Midstream Investments EPS expected range is $0.15 - $0.18. In providing this EPS expected range for Midstream Investments, CenterPoint Energy assumes a 53.7 percent ownership of Enable's common units and includes the amortization of its basis differential in Enable and assumes an allocation of its corporate overhead based upon Midstream Investments relative earnings contribution. The Midstream Investments EPS expected range reflects dilution and earnings as if CenterPoint Energy's Series C preferred stock were issued as common stock. The Midstream Investments EPS expected range takes into account such factors as Enable's most recent public outlook for 2020 dated November 4, 2020, and effective tax rates. In providing this 2020 guidance, CenterPoint Energy uses a non-GAAP measure of guidance basis diluted earnings per share that does not consider other potential impacts such as changes in accounting standards, impairments or Enable's unusual items, which could have a material impact on GAAP reported results for the applicable guidance period.  CenterPoint Energy is unable to present a quantitative reconciliation of forward looking guidance basis diluted earnings per share because changes in Enable's outlook, future impairments related to Midstream Investments or Enable's unusual items are not estimable and are difficult to predict due to various factors outside of CenterPoint Energy 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 September 30, 2020. 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 Energy's management will host an earnings conference call on Thursday, November 5, 2020, 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 Arkansas, Indiana, Louisiana, Minnesota, Mississippi, Ohio, Oklahoma and Texas. As of September 30, 2020, the company owned approximately $33 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 9,600 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. Any statements in this news release or on the earnings conference call regarding capital investments, rate base growth and our ability to achieve it, future earnings and guidance, including long-term growth rate, and future financial performance and results of operations, including, but not limited to the impact of COVID-19, including with respect to regulatory actions and the COVID-19 scenario range discussed in this news release, the Business Review and Evaluation Committee's review process and outcomes, value creation, opportunities and expectations 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) the performance of Enable, the amount of cash distributions CenterPoint Energy receives from Enable, and the value of CenterPoint Energy's interest in Enable;

(2) CenterPoint Energy's expected benefits of the merger with Vectren Corporation (Vectren) and integration, including the ability to successfully integrate the Vectren businesses and to realize anticipated benefits and commercial opportunities;

(3) financial market and general economic conditions, including access to debt and equity capital and the effect on sales, prices and costs; (4) industrial, commercial and residential growth in CenterPoint Energy's service territories and changes in market demand; (5) actions by credit rating agencies, including any potential downgrades to credit ratings; (6) the timing and impact of future regulatory and legal proceedings; (7) 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 Energy's carbon reduction targets; (8) the impact of the COVID-19 pandemic; (9) the recording of impairment charges, including any impairments related to CenterPoint Energy's investment in Enable; (10) weather variations and CenterPoint Energy's ability to mitigate weather impacts; (11) changes in business plans; (12) CenterPoint Energy's ability to fund and invest planned capital, including timely and appropriate rate actions that allow recovery of costs and a reasonable return on investment; (13) CenterPoint Energy's or Enable's potential business strategies and strategic initiatives, including the recommendations and outcomes of the Business Review and Evaluation Committee, restructurings, joint ventures and acquisitions or dispositions of assets or businesses, which may not be completed or result in the benefits anticipated by CenterPoint Energy or Enable; (14) CenterPoint Energy's ability to execute operations and maintenance management initiatives; and (15) other factors discussed in CenterPoint Energy's Annual Report on Form 10-K for the fiscal year ended December 31, 2019, CenterPoint Energy's Quarterly Report on Form 10-Q for the quarters ended March 31, 2020, June 30, 2020 and September 30, 2020, including in the "Risk Factors" and "Cautionary Statement Regarding Forward-Looking Information" sections of such reports, and other reports CenterPoint Energy or its subsidiaries may file from time to time with the Securities and Exchange Commission.

2020-11-05T06:00:00Z
CenterPoint Energy Foundation commits $15,000 to Hurricane Zeta relief and recovery

Houston – Nov. 4, 2020 – CenterPoint Energy today announced that through its charitable foundation the company has committed $15,000 to the following nonprofit organizations leading Hurricane Zeta relief and recovery efforts in Mississippi:

  • American Red Cross of Gulfport – $5,000
  • United Way of South Mississippi – $5,000
  • The Salvation Army of Gulfport – $5,000

"Through the CenterPoint Energy Foundation's contributions to local nonprofit organizations, we continue to provide relief to communities in our Mississippi and Louisiana natural gas footprint, many of which are still recovering from the devastation of Hurricanes Delta and Laura. Our thoughts are with CenterPoint Energy's employees and customers who were directly impacted," said Alicia Dixon, Director of Community Relations. "The safety and well-being of our employees, customers and communities affected by these back-to-back hurricanes remain our top priorities."

These contributions are in addition to the $400,000 commitment made by the CenterPoint Energy Foundation to local nonprofit organizations and impacted colleagues to aid in relief and recovery from Hurricanes Delta and Laura. The company serves more than 100,000 customers in south Louisiana and the Gulf Coast of Mississippi and will continue to partner with relief and recovery organizations on opportunities to support impacted communities.

The company's commitment will also include matching gifts from the CenterPoint Energy Foundation to its employee relief fund. CenterPoint Energy's employees can make donations to the fund, which will be matched by the foundation $2 for every $1, up to a total of $200,000. An independent, third-party organization will manage distribution of the funds to employees who sustained damages and losses resulting from the storm.

Additionally, mutual assistance crews from CenterPoint Energy's Electric Operations in Houston are helping Mississippi Power and Entergy Louisiana restore power in the impacted areas replacing downed poles, wires and transformers, among other critical work.

2020-11-04T06:00:00Z
CenterPoint Energy seeks recovery following completion of 7-year natural gas pipeline modernization plan

Evansville, Ind. – Oct. 30, 2020 – CenterPoint Energy's Indiana-based electric and gas utility, Southern Indiana Gas and Electric Co. (SIGECO), has filed a request with the Indiana Utility Regulatory Commission (IURC) for recovery of investments made within its southwestern Indiana natural gas service territory.

The filing comes at the completion of the company's 7-year, $240 million gas modernization plan, which was filed in 2013 to comply with federal pipeline safety rules and ensures the continued safe, reliable delivery of natural gas service to its more than 113,000 southwestern Indiana customers. The gas system improvements resulted in upgrades to portions of CenterPoint Energy's 3,200-mile network of distribution mains and transmission pipelines which serve nine counties in southwestern Indiana. The work primarily consisted of replacing bare steel and cast-iron distribution mains with new industry-grade plastic mains, as well as inspecting and upgrading natural gas transmission pipelines. This pipeline work has led to a 36% reduction in methane emissions since 2013. Since 2008, more than 300 miles of gas mains have been replaced in the company's southwestern Indiana territory.

Using 2013 state laws focused on federal mandates and natural gas infrastructure needs, Indiana utilities submit forward-looking capital investment plans to the IURC for review and cost recovery. The statutes provide utilities the ability for gradual investment recovery as modernization progress is made; otherwise defined as 80% of total capital expenditures and lessening the effect of a larger rate increase through traditional rate recovery. The balance of recovery must be sought through a traditional rate request at the end of the 7-year plan and is a requirement of the law. With the 2013 filing and the IURC's approval and regular review of that plan, the company is now seeking recovery of the remaining 20% of those investments.

"These infrastructure investments are vital to meeting federal mandates and ensuring the safe and reliable delivery of natural gas to our customers," said Richard Leger, Vice President of Natural Gas Distribution, Indiana and Ohio. "While our natural gas customers will experience a base rate increase to their bills, it will be the first time in nearly 14 years we have pursued such recovery. We remain focused on maintaining affordability for our customers, as demonstrated by our commitment to expense management and continuing to offer natural gas as a cost-effective, reliable energy option due to low, stable natural gas commodity prices."

If the IURC approves the request, the average residential southwestern Indiana gas customer could see an approximate increase of about $15 per month. This represents the balance of costs not already recovered through the duration of the previous seven years and recovery of additional investments before and outside of the company's modernization plan related to public and system improvements required since 2006.      

Also requested within this filing is the continuation of natural gas energy efficiency programs through 2025 and the income-eligible universal service program, which provides additional gas bill reductions during the months of December through May for eligible Indiana South customers.

"Since inception of the programs, Indiana South customers have saved approximately 37 million therms of natural gas, or enough energy to heat 46,000 homes for a year, which also contributed to more than 195,000 metric tons of CO2e emissions saved," continued Leger. "Energy efficiency programs are another way we strive to give customers the opportunity to reduce their energy usage and therefore lower their bill, while also lowering emissions."

While taking into consideration the expected bill impact for these gas infrastructure investments, bills should remain substantially lower than they were subsequent to the company's last rate case filing due to considerably lower natural gas commodity costs. Should the current recovery request be approved, total annual bills will be about $100 lower than they were in 2007-2008 when current rates were approved. As is the case with other gas utilities, Indiana South does not profit from the cost of natural gas. The utility's portfolio approach to gas purchases on behalf of customers is simply passed through dollar for dollar.

The filing now begins a comprehensive review by the IURC which will take several months to complete and will include a public hearing as part of the regulatory process. Should the plan be approved, new rates would go into effect during the third quarter of 2021. This filing has no impact on electric rates.

CenterPoint Energy's Indiana South gas territory delivers natural gas to more than 113,000 customers in Daviess, Gibson, Knox, Martin, Pike, Posey, Spencer, Vanderburgh and Warrick 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 future regulatory filings, actions and decisions, including the timing and impact of such actions and decisions, the expected impact of the proposed rate adjustments on customer bills, forecasted natural gas commodity prices and any associated fluctuations, emissions reductions 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, 2019, CenterPoint Energy's Quarterly Reports on Form 10-Q for the quarters ended March 31, 2020 and June 30, 2020 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, 2020, the company owned approximately $32 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 9,600 employees, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, visit CenterPointEnergy.com.

 

2020-10-30T05:00:00Z
CenterPoint Energy linemen head east to support Hurricane Zeta recovery efforts

Houston – Oct. 29, 2020 – More than 70 CenterPoint Energy linemen and support personnel departed this morning for Mississippi to assist Mississippi Power with power outage restoration resulting from Hurricane Zeta.

"It has been a year like no other, especially for Gulf Coast communities. Our thoughts are with those in areas impacted by Hurricane Zeta, as some of these areas were devastated by Hurricane Delta only weeks ago," said Randy Pryor, Vice President of Distribution Operations of CenterPoint Energy. "Our dedicated teams will work 12- to 16-hour days to help restore electric service as safely and quickly as possible."

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. CenterPoint Energy has been the beneficiary of this assistance several times. After Hurricane Harvey, the company received the assistance of thousands of workers from 20 states, who helped the company's crews restore power to customers within 10 days.

Over the years, CenterPoint Energy crews have restored power to hundreds of thousands of customers throughout the country who were left in the dark following hurricanes, ice storms, tornadoes and severe thunderstorms.

For updates, follow CenterPoint Energy on Facebook and Twitter.

 

2020-10-29T05:00:00Z
CenterPoint Energy offers natural gas safety tips as Hurricane Zeta restoration efforts continue

Houston – Oct. 30, 2020 – CenterPoint Energy urges customers to follow important natural gas safety tips as restoration efforts continue after Hurricane Zeta. Following these tips will help customers avoid natural gas leaks and service disruptions.

  • Before cleaning debris, digging on your property or to locate underground natural gas lines and other underground utility lines, call 811, the nationwide Call Before You Dig number.
  • Be aware of where your natural gas meter is located. As debris is put out for heavy trash pickup, make sure it is placed away from the meter. In many areas the meter may be located near the curb. If debris is near a gas meter, the mechanized equipment used by trash collectors could pull up the meter, damaging it and causing a potentially hazardous situation. If this happens, leave the area immediately and call CenterPoint Energy at 888-876-5786.
  • Be alert for the smell of natural gas. If you smell gas, leave the area immediately on foot and tell others to leave, too.
  • If you smell gas, do not turn the lights on or off, smoke, strike a match, use a cell phone or operate anything that might cause a spark, including a flashlight or a generator.
  • Do not attempt to turn natural gas valves on or off. Once safely away from the area, call 888-876-5786 and CenterPoint Energy will send a trained service technician.
  • If your home was flooded, call a licensed plumber or gas appliance technician to inspect your appliances and gas piping to make sure they are in good operating condition before calling CenterPoint Energy to reconnect service. This includes outdoor gas appliances including pool heaters, gas grills and gas lights.
2020-10-29T05:00:00Z
CenterPoint Energy shares important natural gas safety tips as Hurricane Zeta enters Gulf of Mexico

Houston – Oct. 27, 2020 – CenterPoint Energy continues to monitor the forecasts closely as Hurricane Zeta moves into the Gulf of Mexico. The company urges customers to keep important pre- and post-storm natural gas safety tips top-of-mind to stay safe.

  • Do not turn off your natural gas service at the meter in advance of the storm; doing so could allow water to enter the natural gas lines should flooding occur. If you wish to discontinue gas service, turn off the natural gas at each appliance.
  • Always be alert for the smell of natural gas. If you smell gas, leave the area immediately on foot and tell others to leave, too.
  • If you smell gas, do not turn the lights on or off, smoke, strike a match, use a cell phone or operate anything that might cause a spark, including a flashlight or a generator.
  • Do not attempt to turn natural gas valves on or off. Once safely away from the area, call 888-876-5786 and CenterPoint Energy will send a trained service technician.
  • If your home was flooded, call a licensed plumber or gas appliance technician to inspect your appliances and gas piping to make sure they are in good operating condition before calling CenterPoint Energy to reconnect service. This includes outdoor gas appliances including pool heaters, gas grills and gas lights.
  • Before cleaning debris, digging on your property or to locate underground natural gas lines and other underground utility lines, call 811, the nationwide Call Before You Dig number.
  • Be aware of where your natural gas meter is located. As debris is put out for heavy trash pickup, make sure it is placed away from the meter. In many areas the meter may be located near the curb. If debris is near a gas meter, the mechanized equipment used by trash collectors could pull up the meter, damaging it and causing a potentially hazardous situation. If this happens, leave the area immediately and call CenterPoint Energy at 888-876-5786.

For more information, natural gas safety tips and other resources, visit CenterPointEnergy.com/WeatherSafety.

 

2020-10-27T05:00:00Z
Construction Begins on CenterPoint Energy’s Solar Farm in Southwestern Indiana

Evansville, Indiana (Oct. 27, 2020) — After successfully completing the engineering phase earlier this year, Burns & McDonnell will begin the construction of a 50-megawatt (MW) universal solar array in Troy, Indiana, to service electric customers in CenterPoint Energy's Indiana Electric territory. When combined with the utility's 4 MWs of solar power already in service, the new solar farm, which is expected to be fully operational in early 2021, will generate enough electricity to power more than 12,000 households per year.

"The Troy solar farm is another important project in the continued evolution of our generation fleet as we add more renewable energy sources to our portfolio," said Steve Greenley, Senior Vice President, Generation Development for CenterPoint Energy. "Burns & McDonnell has a long history of delivering projects on time and on budget, while working safely. We are collaborating with the firm's integrated design and construction teams to bring universal solar energy to the southwestern Indiana communities we serve."

CenterPoint Energy's newest solar array, which was approved by the Indiana Utility Regulatory Commission in 2018, will consist of approximately 150,000 solar panels distributed across 300 acres along Indiana State Road 545 between Troy and New Boston, Ind. Each panel will be mounted on a single-axis tracking system, enabling the panels to automatically shift to maximize energy generation as the sun's rays move across the surface of the Earth. Once the project is substantially completed, Burns & McDonnell will provide commissioning and startup services before the new array goes online in 2021.

"Integrating our construction capabilities into our overall solar delivery offering enables us to leverage our extensive track record of successful utility-scale construction execution across multiple disciplines," said Chad Cotter, Director of Solar EPC for Burns & McDonnell. "By providing skills and experience, along with dedicated resources, we are streamlining project delivery with parallel engineering, procurement and construction activities. The Troy installation will be among the largest single-sited solar farms in the Tri-State area and will support surrounding communities for decades to come."

The project is an important step in CenterPoint Energy's goal to reduce its operational emissions by 70% by 2035. The company's reduction goal is based on its 2005 emissions. With 4 MW of universal solar already in service in Vanderburgh County, the new installation will expand CenterPoint Energy's Indiana electric solar production by more than 13 times its current capacity.

Burns & McDonnell is partnering with Indiana-based suppliers and contractors to assist with equipment procurement and on-site labor efforts. As one of the most prominent renewable resources in the state, the Troy installation signifies CenterPoint Energy's first self-build solar project. CenterPoint Energy's Indiana electric territory provides electric service to more than 144,000 customers in southwestern Indiana.

Burns & McDonnell ranks among the top 10 design firms in the U.S. and as the No. 1 firm in Power, according to Engineering News-Record (ENR). Additionally, the firm has been recognized by ENR among the top 10 design-build firms in the nation.

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 solar farm's estimated completion date and its anticipated impact on the Company's carbon emissions reductions targets, 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, 2019, CenterPoint Energy's Quarterly Reports on Form 10-Q for the quarters ended March 31, 2020 and June 30, 2020 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, 2020, the company owned approximately $32 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 9,600 employees, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, visit CenterPointEnergy.com.

About Burns & McDonnell

Burns & McDonnell is a family of companies bringing together an unmatched team of 7,600 engineers, construction professionals, architects, planners, technologists and scientists to design and build our critical infrastructure. With an integrated construction and design mindset, we offer full-service capabilities with more than 55 offices, globally. Founded in 1898, Burns & McDonnell is a 100% employee-owned company and proud to be on Fortune's 2020 list of 100 Best Companies to Work For. Learn how we are on call through it all.

2020-10-27T05:00:00Z

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