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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) reported Q3 2024 earnings of $0.30 per diluted share (GAAP) and $0.31 per diluted share (non-GAAP), down from $0.40 in Q3 2023. The decline was primarily due to increased operating expenses of $0.11 per share from the Greater Houston Resiliency Initiative. The company reiterated its 2024 non-GAAP EPS guidance of $1.61-$1.63 and initiated 2025 guidance of $1.74-$1.76, targeting 8% growth. Growth and regulatory recovery contributed $0.09 per share positively, offset by Hurricane Beryl outages ($0.02) and unfavorable weather variances ($0.04).
CenterPoint Energy has appointed Don Daigler as Senior Vice President of Emergency Preparedness and Response, marking a significant step in improving the company's emergency management capabilities following Hurricane Beryl. This appointment fulfills one of over 40 commitments made under the Greater Houston Resiliency Initiative (GHRI) in August. Daigler brings 40+ years of experience in emergency management and national security, including leadership roles at FEMA and in the electric utility industry. The company has completed 41 of 42 GHRI commitments, with the final one scheduled for completion by end-2024.
CenterPoint Energy has released an independent review by PA Consulting Group regarding its Hurricane Beryl response, which includes 77 recommendations for improving storm readiness, response, and communications. The company has already completed or is implementing 51 recommendations through its Greater Houston Resiliency Initiative (GHRI), with 18 completed and 33 in progress. Key completed actions include replacing the outage map, revising communication strategies, and acquiring additional generators. In-progress improvements focus on expanding TripSaver® reclosers installation, increasing composite poles usage, and revising tree trimming cycles. The remaining 26 recommendations are under evaluation for future implementation.
CenterPoint Energy's lineworkers and apprentices competed in the 40th annual International Lineman's Rodeo in Bonner Springs, Kansas. The event attracted over 200 teams from around the world to compete in tasks based on traditional lineman skills. CenterPoint's team placed 6th among investor-owned utilities and 13th overall. Their 2024 Journeyman team also secured 5th place in the Preform Top Tie Replacement event.
The competition included events like the 'hurt man rescue' and pole climb, graded on safety and proficiency. Approximately 227 lineworker teams and 380 apprentices participated from across the United States and Canada. CenterPoint sent three lineworker teams and eight apprentices to represent the company. The company has been participating in this event for over 30 years, highlighting its commitment to skill development and safety in the lineworker trade.
CenterPoint Energy has been providing mutual assistance support to peer utilities on the East Coast following Hurricanes Helene and Milton. At peak, about 350 CenterPoint leadership, frontline workers, and contractors were deployed to Florida, Georgia, and the Carolinas, helping restore power to thousands of residents. While most frontline workers are returning home, some Houston electric operations leadership will remain in Florida to support ongoing restoration efforts.
The company remains prepared for any operational needs in its Houston and Evansville service territories during the 2024 hurricane season. CenterPoint is also implementing its Greater Houston Resiliency Initiative, which includes installing stronger fiberglass poles, trimming vegetation, and adding automation devices. The company plans further system hardening, strategic undergrounding, and self-healing grid technology enhancements.
CenterPoint Energy Foundation has launched a new Community Generator Donation Program for the Greater Houston Region. The program, part of CenterPoint's Greater Houston Resiliency Initiative (GHRI), will donate 21 backup generators to key locations across 12 counties. Funded by a $5 million grant from the CenterPoint Energy Foundation, this initiative aims to support community resiliency during major weather events or emergencies.
The company is collaborating with local Offices of Emergency Management and county/city leaders to identify optimal locations for the generators. The first two generators were unveiled in Galveston County, with more announcements expected in the coming weeks. These generators can power entire large buildings and will serve as hubs for essential services during outages.
The goal is to have all generators installed and operational by June 1, 2025, ahead of the hurricane season. This program is funded by shareholders and has no impact on customer rates.
CenterPoint Energy has announced a collaboration with Technosylva to enhance resilience and monitor system assets for extreme weather events. The partnership, formalized through a Memorandum of Understanding (MOU), will leverage Technosylva's advanced AI and machine learning technologies to strengthen CenterPoint's preparedness for extreme weather across its network in Texas, Indiana, Ohio, Louisiana, Minnesota, and Mississippi.
This initiative is part of CenterPoint's $21 billion commitment over the next five years to improve electric and natural gas resilience, reliability, and system modernization. Technosylva's platform integrates high-resolution modeling, predictive analytics, and real-time data to provide actionable insights into extreme weather threats to infrastructure. The collaboration aims to position CenterPoint as a national leader in utility resilience and emergency preparedness.
CenterPoint Energy, Inc. (NYSE: CNP) has announced its upcoming third quarter 2024 earnings conference call, scheduled for October 28, 2024, at 7:00 a.m. Central time (8:00 a.m. Eastern time). Investors can access the webcast via the company's investor relations website. CenterPoint Energy is the only investor-owned electric and gas utility based in Texas, serving over 7 million metered customers across six states. As of June 30, 2024, the company owned approximately $41 billion in assets and employed around 9,000 people. With a history spanning more than 150 years, CenterPoint Energy operates in electric transmission and distribution, power generation, and natural gas distribution.
CenterPoint Energy (NYSE: CNP) has partnered with Neara to deploy AI-powered infrastructure modeling across its Greater Houston service area. This collaboration aims to enhance electric grid resilience, optimize safety and reliability, and reduce customer impact. Neara's technology will enable CenterPoint to:
1. Simulate severe weather events and their potential impact on infrastructure
2. Inform preparedness and response plans
3. Address high-risk vegetation along power lines
4. Identify critical equipment upgrades efficiently
5. Prioritize grid hardening improvements
This initiative follows CenterPoint's completion of the first phase of its Greater Houston Resiliency Initiative (GHRI). The company has announced a second phase (Sept 2024 - June 2025) and plans for a longer-term resilience investment of approximately $5 billion from 2026 to 2028.
CenterPoint Energy has announced a comprehensive suite of new actions as part of the second phase of its Greater Houston Resiliency Initiative (GHRI) to strengthen the electric grid across the region. The near-term actions, to be completed before the 2025 hurricane season, include:
- Installing 25,000 new, stronger poles
- Removing or trimming 4,000 miles of higher-risk vegetation
- Installing 4,500 automated reliability devices
- Undergrounding more than 400 miles of power lines
These actions aim to enable a self-healing grid, reduce outages, and lead to more than 125 million fewer outage minutes annually for customers in the Greater Houston area. CenterPoint Energy also plans to refile its long-term resiliency plan with the PUCT by January 31, 2025, proposing to invest at least $5 billion from 2026 to 2028 as part of a larger $21 billion capital investment plan for its Texas electric and gas systems from 2025 through 2030.
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