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CenterPoint Energy, Inc. (NYSE: CNP), headquartered in Houston, Texas, is a leading domestic energy delivery company. With a robust history spanning over 140 years, the company has established itself as a cornerstone in the energy sector, serving more than five million metered customers across Arkansas, Louisiana, Minnesota, Mississippi, Oklahoma, and Texas. CenterPoint Energy specializes in electric transmission and distribution, natural gas distribution, and energy services operations.
The company owns a 54.7% limited partner interest in Enable Midstream Partners, a publicly traded master limited partnership. This joint venture with OGE Energy Corp. focuses on owning, operating, and developing natural gas and crude oil infrastructure assets. CenterPoint Energy's regulated electric utilities provide essential services to over 2.5 million customers, primarily in the Houston area, southern Indiana, and west central Ohio. Its natural gas distribution systems cater to around 4 million customers, underscoring the company's expansive reach and critical role in energy delivery.
One of the company's recent notable achievements includes a cost-saving initiative for its Indiana electric customers. In June 2023, CenterPoint Energy launched a securitization pilot program, which gained approval from the Indiana Utility Regulatory Commission (IURC). This initiative aims to remove the remaining value of the A.B. Brown coal plant assets from customer rates, resulting in a total estimated savings of $53 million. The program benefits all Indiana electric customer classes, with residential customers expected to see a nearly $5 bill credit per month.
As part of its long-term electric generation transition plan, CenterPoint Energy will retire the A.B. Brown coal units 1 and 2 in October 2023. The company plans to reinvest the proceeds from the securitization bonds into renewable energy resources, including wind- and solar-powered generation, supported by natural gas generation to ensure reliability. This transition aligns with CenterPoint Energy's commitment to delivering clean and reliable energy while prioritizing customer savings.
CenterPoint Energy's forward-looking strategies are geared toward maintaining a balance between innovation and customer value. The company's emphasis on renewable energy and cost-effective financing solutions demonstrates its dedication to sustainability and fiscal responsibility.
With a workforce of over 8,500 employees, CenterPoint Energy continues to uphold its legacy of service and reliability. For more detailed information, visit the company's website at www.centerpointenergy.com.
CenterPoint Energy (CNP) has proposed a solution to address ERCOT's projected electricity supply shortfall in the San Antonio region starting summer 2025. The company plans to relocate 15 large emergency generation units (27mW-32mW each) to San Antonio, potentially providing up to 450mW of power to help offset an expected 800-megawatt shortfall caused by the retirement of three gas-fired units.
The units would remain in Houston through winter 2024-2025 before being transported to San Antonio in early 2025 for approximately two years of service. CNP will not generate revenue or profit from this arrangement and plans to reduce Greater Houston-area customer bills starting Spring 2025. After the service period, CNP intends to market these units, citing strong demand from AI and data center growth.
CenterPoint Energy (NYSE: CNP) announced key leadership changes effective January 1, 2025. Richard C. Leger has been appointed Senior Vice President of the company's multi-state Gas business, following his interim role since July 2024. Bertha Villatoro has been elevated to Senior Vice President and Chief Human Resources Officer.
Current Executive VP and CHRO Lynne Harkel-Rumford will retire on February 3, 2024, after a 25-year career with the company. Leger will oversee operations serving 4.2 million customers across six states, while Villatoro will manage talent development, compensation, benefits, labor relations, and organizational development.
CenterPoint Energy (NYSE: CNP) has appointed Dean Seavers to its Board of Directors, effective December 31, 2024. Seavers, the former President of National Grid U.S. and Executive Director of National Grid's parent company, brings extensive utility industry experience to the role. He currently serves as a Senior Advisor for Stifel Financial and will fill a Board vacancy, standing for election at the 2025 annual shareholders meeting.
Seavers' background includes founding and serving as CEO of Red Hawk Fire & Security, leading GE Security, and serving as President of Global Services at UTC's Fire & Security business. He currently serves on the boards of Albemarle Corp., Ametek Inc., and Vine Hill Capital Investment Corp.
CenterPoint Energy has announced the appointment of Dean Seavers as a new member of its Board of Directors, effective December 16, 2024. Dean Seavers brings extensive leadership experience to the board, having previously held executive roles in various energy and utility companies. His addition aims to bolster CenterPoint's strategic initiatives and operational excellence.
CenterPoint Energy (NYSE: CNP) has announced a quarterly dividend increase, declaring a regular cash dividend of $0.2200 per share on Common Stock. This represents a $0.010 increase from the previous quarter's dividend. The dividend will be payable on March 13, 2025, to shareholders of record as of February 20, 2025. The dividend growth rate aligns with the upper range of the company's previously announced 6-8% non-GAAP earnings per share growth target.
CenterPoint Energy has launched a '12 Days of Holiday Safety' campaign to prepare customers for the 2025 winter storm season. The initiative combines daily safety tips with social media outreach, following the company's efforts to winterize its electric and gas infrastructure.
The campaign will provide safety resources through email and social media, covering topics like holiday lighting, cooking safety, outage tracking, candle safety, smoke detector testing, fireplace safety, tree care, space heater safety, energy conservation, emergency preparedness, warming center locations, and Power Alert Service enrollment. All resources will be available at CenterPointEnergy.com/ReadyForWinter.
CenterPoint Energy has reported significant progress in Phase Two of its Greater Houston Resiliency Initiative (GHRI), installing over 7,060 storm-resilient poles in less than 100 days. Recent achievements include clearing 400+ miles of power lines from high-risk vegetation, undergrounding 40 miles of power lines, and installing 20 self-healing automation devices.
The initiative, aimed at building the most resilient coastal grid, is expected to reduce customer outage time by more than 125 million minutes annually. Future plans through May 31, 2025, include installing 4,500 automated reliability devices and establishing 100 new weather monitoring stations before the 2025 hurricane season.
CenterPoint Energy has announced comprehensive winter storm readiness actions for the 2025 season in Texas. The company has completed three critical preparations: inspecting and testing cold-weather critical equipment, submitting formal winter preparedness declarations to regulatory agencies, and coordinating emergency plans with utility partners.
Key actions include inspecting all 270 substations, installing heaters to prevent ice damage, maintaining freeze protection equipment, and conducting emergency training. The company participated in a joint exercise with ERCOT and other utility partners to prepare for extreme cold-weather events. Additionally, CenterPoint will launch a customer winter storm safety campaign to share vital safety information and resources with the Greater Houston community.
CenterPoint Energy has filed a settlement agreement with the Minnesota Public Utilities Commission for its 2023 rate case, which will adjust natural gas distribution service rates in 2024 and 2025. The agreement, reached with multiple intervening parties, aims to maintain safety and reliability for over 920,000 customers across 260 Minnesota communities. The settlement will enable infrastructure upgrades, support low-carbon technologies, and ensure compliance with federal regulations. The company plans to invest in pipeline replacement, system upgrades, and facility relocations. The Commission's decision is expected in 2025.
CenterPoint Energy has released its first progress update on Phase Two of the Greater Houston Resiliency Initiative (GHRI). In the first two months, the company has installed nearly 4,600 storm-resilient poles, placed over 100 miles of power lines underground, cleared more than 800 miles of hazardous vegetation, and installed self-healing automation devices. The initiative aims to reduce outage minutes by 125 million annually and build the most resilient coastal grid nationwide. Additionally, the company has completed all 42 critical actions committed post-Hurricane Beryl, including trimming vegetation from 2,000+ power line miles and installing 1,100+ storm-resilient poles.
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