Centerpoint Energy Inc - CNP STOCK NEWS

CenterPoint Energy is implementing its cold weather readiness plan as ERCOT issues a Weather Watch for February 19-21, 2025, due to forecasted extreme cold temperatures across Texas. The watch indicates expectations of higher electrical demand and potential lower reserves, though grid conditions are expected to remain normal.

The company's Emergency Response and Meteorology teams are actively monitoring weather conditions and preparing to maintain reliable energy delivery. CenterPoint has performed pre-winter preparedness actions to strengthen and winterize its electric and natural gas infrastructure, including inspecting critical equipment. The company is also preparing to deploy cold weather mitigations and mobilize emergency response resources.

To assist customers, CenterPoint offers a Winter Energy Guide with safety and energy-saving tips, and encourages enrollment in their Power Alert Service® for outage updates. Customers can also access their improved Outage Tracker system in English and Spanish.

CenterPoint Energy has reported significant progress in its Greater Houston Resiliency Initiative (GHRI) Phase Two, deploying 750 automated reliability devices in January 2025, with plans to install 4,500 devices by June 1, 2025. These 'self-healing' devices will help reduce outage frequency and duration during storms.

In the past five months, the company has achieved several milestones including: installation of over 11,000 storm-resilient poles, clearance of high-risk vegetation along power lines, and undergrounding of power lines. Recent four-week achievements include installing 1,800 additional storm-resilient poles, clearing 400 miles of power lines, undergrounding 40 miles of lines, and installing 13 Intelligent Grid Switching Devices.

The initiative, running through May 31, 2025, will also include 100 new weather monitoring stations before the 2025 hurricane season. When completed, GHRI Phase Two is expected to reduce customer outage minutes by more than 125 million annually.

CenterPoint Energy has announced its enhanced Systemwide Resiliency Plan (SRP) for 2026-2028, representing the largest grid resiliency investment in company history at $5.75 billion. The plan aims to reduce storm-related outage impacts by over 1.3 billion minutes for its 2.8 million customers into 2029.

Key improvements include: automation devices on 100% of major lines, raising 99% of substations above the 500-year flood plain, undergrounding more than 50% of the system, and installing 130,000 stronger storm-resilient poles. The plan is expected to strengthen overall system resiliency by at least 30% over three years and save customers approximately $50 million in annual storm-related costs.

The SRP builds upon the Greater Houston Resiliency Initiative launched in 2024, which has already installed 10,600 resilient poles, cleared 3,400 miles of hazardous vegetation, added 370 self-healing automation devices, and undergrounded 200 miles of power lines.

CenterPoint Energy has reached a settlement agreement in its 2024 Houston Electric Rate Case that will result in approximately $50 million less annual revenue through roughly 2029. The settlement, pending PUCT approval, will reduce customer bills by about $1 monthly, representing a 2% decrease for residential customers using 1,000 kWh per month.

The company has invested $8 billion in grid improvements since 2019, including 2,200 miles of new distribution lines, 100+ miles of transmission lines, and eight new substations. The settlement includes CenterPoint's proposal to relocate 15 large emergency generation units to San Antonio for two years starting Spring 2025, helping address ERCOT's regional energy shortfall without generating profit for CenterPoint.

Notable achievements include installing 437 Intelligent Grid Switching Devices, resulting in over 80 million minutes of avoided customer outages in 2023. CenterPoint's rates have remained relatively flat over the last decade, staying below annual inflation of 2.8%, and were the lowest among Texas peer utilities in 2024.

CenterPoint Energy (CNP) successfully maintained power for over 99% of its Greater Houston area customers during Winter Storm Enzo, demonstrating strong operational resilience. The company mobilized approximately 3,000 frontline electric workers, including 1,200 mutual aid workers who were later released as conditions improved.

Key actions included deploying four temporary generation units to local warming centers, conducting outreach to critical care customers, and maintaining consistent customer communication through multiple channels. As of noon, the company deactivated its Emergency Operations Center and returned to normal operations.

The company's preparedness measures and quick response to scattered outages across its 12-county service area helped minimize storm impacts. CenterPoint continues to provide customers access to its Power Alert Service® and cloud-based Outage Tracker for real-time updates and service information.

CenterPoint Energy (CNP) reports successful management of Winter Storm Enzo's impact across its Texas service area, with more than 99.9% of customers maintaining power as of 9 p.m. Tuesday. The company has restored service to approximately 28,500 customers since midnight and mobilized about 3,000 frontline workers, including local crews, contractors, and mutual aid personnel.

The company has implemented several key response measures, including deploying four temporary generation units to local warming centers, conducting outreach to critical care customers, and coordinating with government officials. Despite the storm's exit, sub-freezing temperatures are expected to persist overnight, and crews continue to address scattered outages and prepare for potential impacts from the deep freeze.

CenterPoint Energy (CNP) reported that 99.9% of its Greater Houston area customers maintain power service despite the ongoing Winter Storm Enzo. The company has restored power to approximately 18,700 customers since the storm began, with only 2,800 customers currently experiencing outages. Around 3,000 personnel, including 1,200 mutual aid workers, are actively responding to scattered outages across the 12-county service area.

The company has deployed four temporary generation units to local warming centers and maintains its Emergency Operations Center activation. CenterPoint is coordinating with state and local emergency partners while serving its 2.8 million customers. The National Weather Service's Winter Storm Warning remains in effect through 6 p.m. today, with an Extreme Cold Watch following until Wednesday morning.

CenterPoint Energy (CNP) is preparing for Winter Storm Enzo, expected to impact the Greater Houston area starting Monday evening. The company has secured 1,200 additional mutual aid workers and is setting up three staging sites to support potential restoration efforts.

The National Weather Service has upgraded to a Winter Storm Warning for Southeast Texas from 6 p.m. Monday through 6 p.m. Tuesday. ERCOT issued a Weather Watch from Monday to Wednesday due to extreme cold weather, though grid conditions are expected to remain normal.

The company has implemented its cold weather readiness plan, including infrastructure winterization across Texas and securing additional call center resources. CenterPoint serves 2.8 million electric customers and has established multiple communication channels, including their Storm Center and Power Alert Service®, to keep customers informed during the weather event.

CenterPoint Energy is preparing for a significant winter storm expected to hit the Greater Houston area starting Monday evening. The company has secured 1,200 additional mutual aid workers arriving Monday and is establishing three staging sites for potential restoration efforts. The National Weather Service has issued a Winter Storm Watch for Southeast Texas from 6:00 p.m. Monday through 6:00 p.m. Tuesday, with forecasts predicting freezing precipitation and accumulation.

ERCOT has issued a Weather Watch for January 20-23 due to expected extreme cold weather, higher electrical demand, and potential lower reserves. CenterPoint has implemented its cold weather readiness plan, including infrastructure winterization and coordination with emergency responders. The company has also launched its Winter Energy Guide, providing safety tips and resources for customers during the winter heating season.