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CenterPoint Energy, Inc. is an energy delivery company that operates in electric transmission and distribution, power generation, and natural gas distribution, serving over 7 million metered customers across Indiana, Louisiana, Minnesota, Mississippi, Ohio, and Texas . The company's business activities are divided into two main segments: Natural Gas and Electric . CenterPoint Energy provides electric generation, transmission, and distribution services, as well as natural gas distribution and transportation services .
- Electric Segment - Provides electric generation, transmission, and distribution services, primarily in southwestern Indiana, and includes power generating and wholesale power operations .
- Natural Gas Segment - Offers natural gas distribution and transportation services, primarily in southwestern Indiana .
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Regarding the GHRI, you are planning to invest an additional $2.5 billion, increasing resiliency investments to approximately $5 billion from 2026 through 2028. How do you plan to achieve these significant investments while keeping Houston Electric's customer delivery charge increases roughly in line with the long-term rate of inflation over the next 10 years?
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You mentioned that your data center interconnection queue now exceeds 8 gigawatts, but you acknowledge that not all of this will be developed. Given that, how are you factoring this speculative load into your capital expenditure plans, and what risks do you foresee if this expected growth does not materialize as anticipated?
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You plan to raise an incremental $1.25 billion of equity in addition to the $1.25 billion previously guided, totaling approximately $2.5 billion through the remainder of the decade. How will these significant equity issuances impact your balance sheet and earnings per share growth targets, and what strategies do you have in place to mitigate potential dilution for shareholders?
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With the withdrawal of your Houston Electric rate case filing due to focus on plan execution and resiliency development, and given the regulatory lag resulting in a 150 basis point lower earned ROE than allowed, how do you plan to address this regulatory lag before refiling in 2025, and what are your expectations for the new rate case?
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Concerning the temporary generation units, you proposed to forgo approximately $110 million of profit to address stakeholder concerns. Can you elaborate on how this proposal satisfies stakeholders, and what impact it might have on your financial performance and obligations to customers during load shed events?
Competitors mentioned in the company's latest 10K filing.
- Large energy companies: Competitors in Enable's areas of operation with greater financial resources and access to supplies of natural gas, NGLs, and crude oil .
- Producers of natural gas or crude oil: Enable's customers who may develop their own gathering, processing, transportation, and storage systems .
| Customer | Relationship | Segment | Details |
|---|---|---|---|
Affiliates of NRG | Major external customer (electricity) | Houston Electric | $1,106 million in 2023 (about 12.7% of total revenue) |
Affiliates of Vistra Energy Corp. | Major external customer (electricity) | Houston Electric | $539 million in 2023 (about 6.2% of total revenue) |
Recent developments and announcements about CNP.
Corporate Leadership
Leadership Change
Lynne Harkel-Rumford, Executive Vice President and Chief Human Resources Officer at CNP, is retiring on February 3, 2025. Her departure is not due to any disagreements with the company . Dean Seavers has been appointed to the Board of Directors, effective December 31, 2024, filling the vacancy left by Barry T. Smitherman's resignation. Seavers brings extensive experience in the utility, safety, and security industries .
Board Change
Dean Seavers has been appointed as a new member of the Board of Directors at CenterPoint Energy, effective December 31, 2024. He will fill the vacancy created by the resignation of Barry T. Smitherman and is expected to stand for election at the company's annual meeting in 2025. Seavers brings extensive experience in the utility, safety, and security industries .
Board Change
Barry T. Smitherman, a director on the Board of Directors of CenterPoint Energy, Inc., has notified the company of his intent to resign from the Board effective December 31, 2024. His resignation is not due to any disagreement with the company on its operations, policies, or practices .