Welcome to our dedicated page for Centerpoint Energy news (Ticker: CNP), a resource for investors and traders seeking the latest updates and insights on Centerpoint Energy stock.
CenterPoint Energy Inc. (NYSE: CNP) delivers electricity and natural gas to 7 million customers across six states through its resilient energy networks. This dedicated news portal provides stakeholders with unfiltered access to official announcements, including grid modernization progress, regulatory decisions, and infrastructure investment updates.
Investors and industry observers will find essential communications about rate case resolutions, weather resilience initiatives like the Systemwide Resiliency Plan, and strategic partnerships advancing predictive grid technologies. The repository consolidates earnings releases, merger disclosures, and sustainability program launches for efficient tracking of operational developments.
Bookmark this page to monitor CNP's execution of its $40 billion capital plan through 2030, including undergrounding projects and smart grid deployments. Stay informed about critical energy delivery updates from America's largest metropolitan transmission and distribution system operator.
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.
CenterPoint Energy has completed all 42 initial post-Hurricane Beryl commitments ahead of schedule, focusing on strengthening its electric system and improving storm response. Phase One achievements include hardening 350 miles of power lines, trimming vegetation across 2,000+ miles, installing 1,100+ storm-resilient poles, and adding 300+ automated devices to reduce outages.
The company is now advancing to Phase Two of the Greater Houston Resiliency Initiative (GHRI), scheduled for completion before June 1, 2025. This phase includes installing 25,000 extreme-wind-standard poles, managing vegetation across 4,000 miles, adding 4,500 trip savers, and undergrounding 400+ miles of power lines, expected to reduce outage minutes by 125 million annually.
CenterPoint Energy has filed a securitization plan with the Public Utility Commission of Texas to manage approximately $450 million in emergency response costs from the May 2024 Derecho storm. The plan aims to spread costs over 15 years, resulting in an estimated $1 per month impact on customer bills while saving them over $50 million in interest charges. The Derecho caused about $5 billion in damages across Houston, requiring over 7,700 workers to restore power. The company restored service to 80% of affected customers within 72 hours, replacing 400 miles of electrical wires, 1,600 transformers, and 1,600 power poles. The final PUCT decision is expected in 2025.
CenterPoint Energy announced plans to resume settlement talks for its 2024 CenterPoint Energy Houston Electric rate case, which was previously requested to withdraw on August 1, 2024. The company has completed Phase One of the Greater Houston Resiliency Initiative, installing over 1,100 fiberglass poles, trimming 2,000+ miles of power lines, and adding 300+ automation devices. Phase Two aims to install 25,000 poles, trim 4,000 miles of power lines, add 4,500 automation devices, and underground 400+ miles of power lines before the 2025 hurricane season. The original rate case filing sought a net increase of approximately $1.25 per month for average residential customers using 1,000 kwh.
CenterPoint Energy announced that Hurricane Rafael is expected to weaken and remain in the southern Gulf of Mexico over the weekend, potentially bringing isolated rain and wind to Texas and Louisiana. While most company teams will resume normal operations, personnel will remain on standby to execute emergency preparedness plans if needed. The company does not anticipate engaging the 13,000 mutual assistance resources that were available for emergency response. CenterPoint encourages customers to review their emergency plans and access storm-related safety tips through their website.
CenterPoint Energy is actively monitoring Hurricane Rafael, currently a Category 3 storm, and implementing emergency preparedness protocols across its Gulf Coast service area. The company has suspended natural gas disconnections in Texas, Louisiana, and Mississippi, and has identified over 13,000 mutual assistance resources for potential emergency response. While forecasts suggest the storm may head toward Mexico, CenterPoint remains prepared for any potential impacts on both electric and natural gas infrastructure. The company has enhanced its staffing plans and is ready to deploy resources for service restoration if needed.
CenterPoint Energy is preparing for potential impacts from Hurricane Rafael, now a Category 3 storm with 115 mph winds, across its Gulf Coast service area. The company has mobilized over 13,000 mutual assistance resources, implemented enhanced staffing plans, and suspended natural gas disconnections in Texas, Louisiana, and Mississippi. While the Greater Houston area is not expected to be heavily impacted, the company is conducting pre-landfall emergency protocols and urging customers to take safety precautions. CenterPoint has enhanced its outage tracking capabilities and is encouraging customers to enroll in Power Alert Service® for updates.
CenterPoint Energy is actively preparing for Tropical Storm Rafael's potential impact across its Gulf Coast service area. The company is monitoring weather updates and coordinating with emergency partners to ensure readiness for service restoration in Louisiana, Mississippi, and Texas. Over 2.25 million natural gas customers have been urged to take safety precautions. The company has mobilized resources and crews for potential storm response, focusing on debris clearing and service restoration. While the Greater Houston area is not expected to be heavily impacted, the company is prepared for potential outages and has implemented various customer communication channels, including Power Alert Service® and an improved Outage Tracker.
CenterPoint Energy is monitoring Tropical Storm Rafael in the Caribbean Sea and activating emergency response plans as the storm is expected to strengthen into a hurricane by midweek. The company has implemented the Greater Houston Resiliency Initiative, completing its first phase with installation of 1,100 fiberglass poles, vegetation trimming along 2,000 miles of power lines, and 300 automation devices. The second phase, to be completed before June 1, 2025, includes installing 25,000 extreme wind-resistant poles, trimming 4,000 miles of power lines, adding 4,500 trip savers, and undergrounding 400+ miles of power lines. These improvements aim to reduce outage minutes by 125 million annually.
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).
