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About CenterPoint Energy Inc.
CenterPoint Energy Inc. (NYSE: CNP) is a prominent energy delivery company headquartered in Houston, Texas. With over 150 years of operational history, the company is a trusted provider of electric transmission and distribution, natural gas distribution, and energy-related services. Serving more than 7 million metered customers across Indiana, Louisiana, Minnesota, Mississippi, Ohio, and Texas, CenterPoint Energy plays a critical role in powering homes, businesses, and communities across the United States.
Core Business Operations
CenterPoint Energy’s business model is anchored in regulated utility operations, offering stable and predictable revenue streams. The company’s electric utility division focuses on the transmission and distribution of electricity to customers in key service areas, including Greater Houston, southern Indiana, and west-central Ohio. CenterPoint does not generate electricity but ensures the reliable transportation of power through its robust infrastructure. On the natural gas side, the company operates extensive distribution systems that serve approximately 4 million customers, ensuring safe and efficient energy delivery.
Strategic Initiatives and Infrastructure Investments
CenterPoint Energy is at the forefront of grid modernization and resilience, with significant investments in infrastructure upgrades and technological advancements. Through its Greater Houston Resiliency Initiative (GHRI) and Systemwide Resiliency Plan (SRP), the company is implementing bold actions to strengthen its electric grid against extreme weather events such as hurricanes, winter storms, and wildfires. These initiatives include system hardening, strategic undergrounding of power lines, and the deployment of self-healing grid technologies designed to minimize outages and improve restoration times.
Additionally, CenterPoint has partnered with Technosylva, a global leader in wildfire and extreme weather risk mitigation, to leverage predictive analytics and artificial intelligence. This collaboration enhances the company’s ability to anticipate and address risks to its infrastructure, reinforcing its commitment to proactive energy delivery solutions.
Commitment to Sustainability and Affordability
CenterPoint Energy is deeply committed to sustainability and customer affordability. The company’s investments in renewable energy integration and energy efficiency programs align with industry trends toward a cleaner energy future. At the same time, CenterPoint prioritizes cost-effective solutions, with customer rates for transmission and distribution services remaining relatively flat over the past decade.
Market Position and Competitive Landscape
As the only investor-owned electric and gas utility based in Texas, CenterPoint Energy holds a unique position in the energy market. Its extensive service footprint and focus on infrastructure resilience differentiate it from competitors. The company also owns a significant stake in Enable Midstream Partners, which operates natural gas and crude oil infrastructure assets, further diversifying its business portfolio.
Future Outlook
Looking ahead, CenterPoint Energy aims to solidify its position as a leader in utility resilience and reliability. With plans to invest billions in grid modernization and resiliency initiatives through 2028, the company is well-positioned to meet the growing energy demands of its service areas while addressing the challenges posed by climate change and extreme weather events. Its strategic focus on innovation, collaboration, and customer-centric solutions underscores its commitment to delivering safe, reliable, and sustainable energy for generations to come.
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.
CenterPoint Energy's Board of Directors has declared a regular quarterly cash dividend of $0.2100 per share on the company's Common Stock. This dividend will be payable on December 12, 2024 to shareholders of record as of the close of business on November 21, 2024. The dividend represents a $0.010 increase over the previous quarter and aligns with an annual dividend of $0.81 for 2024. This increase reflects an 8% average dividend growth over the past three years, demonstrating CenterPoint Energy's commitment to delivering value to its shareholders.
CenterPoint Energy is closely monitoring tropical weather developments in the Gulf of Mexico as the 2024 hurricane season continues. The company is following its standard electric and gas preparedness protocols and remains ready to act if necessary. As part of its Greater Houston Resiliency Initiative, CenterPoint has made significant improvements to its electric system, including installing stronger fiberglass poles, trimming vegetation, and adding automation devices.
Customers are encouraged to develop emergency plans, assemble storm preparedness kits, and enroll in the Power Alert Service for outage updates. CenterPoint has also introduced a new and improved Outage Tracker with enhanced features. The company emphasizes the importance of safety for customers with critical needs and provides resources for hurricane preparedness on its website.
CenterPoint Energy (CNP) is responding to Hurricane Francine's aftermath, focusing on natural gas infrastructure in Louisiana and Mississippi. As of September 12, 2024, no significant damage to electric or gas networks has been reported. The company's 480-member workforce in Louisiana and 200-member workforce in Mississippi are conducting safety inspections, expected to be completed today.
CenterPoint has released 1,500 distribution frontline and 700 vegetation management mutual aid workers to support more impacted utilities. The company is also making some of its Greater Houston area internal and contractor frontline electric workers available for mutual aid. CenterPoint continues to emphasize safety measures for natural gas customers, including being alert for gas odors and refraining from turning gas valves on or off.
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