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    CenterPoint Energy Inc (CNP)

    Board Change

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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 .

    1. Electric Segment - Provides electric generation, transmission, and distribution services, primarily in southwestern Indiana, and includes power generating and wholesale power operations .
    2. Natural Gas Segment - Offers natural gas distribution and transportation services, primarily in southwestern Indiana .
    NamePositionStart DateShort Bio
    Jason P. WellsPresident and Chief Executive OfficerJanuary 5, 2024Jason P. Wells is the President and CEO of CenterPoint Energy, effective January 5, 2024. He previously served as President and COO from 2023 to 2024, and EVP and CFO from 2020 to 2022 .
    Christopher A. FosterExecutive Vice President and Chief Financial OfficerMay 5, 2023Christopher A. Foster was appointed as EVP and CFO of CenterPoint Energy, effective May 5, 2023. He received a buy-out equity award from CenterPoint Energy valued at $3.9 million .
    Monica KaruturiExecutive Vice President and General CounselN/AMonica Karuturi serves as EVP and General Counsel at CenterPoint Energy. She is a key legal advisor and was listed as a named executive officer in the company's 2023 executive compensation program .
    Lynne Harkel-RumfordExecutive Vice President and Chief Human Resources OfficerN/ALynne Harkel-Rumford serves as EVP and Chief Human Resources Officer at CenterPoint Energy. Specific details about her start date are not provided.
    Jason M. RyanExecutive Vice President, Regulatory Services & Government AffairsN/AJason M. Ryan serves as EVP, Regulatory Services & Government Affairs at CenterPoint Energy. His base salary for 2023 was $510,000 .
    David J. LesarChief Executive Officer (retiring January 5, 2024)July 2020David J. Lesar served as CEO of CenterPoint Energy from July 2020 until his retirement on January 5, 2024. He was previously Chairman and CEO at Halliburton Company .
    Lynnae K. WilsonSenior Vice President of the Electric BusinessN/ALynnae K. Wilson is an officer at CenterPoint Energy, serving as SVP of the Electric Business. She owns 24,766 shares of common stock directly as of January 5, 2024 .
    Scott E. DoyleExecutive Vice President, Utility OperationsN/AScott E. Doyle served as EVP, Utility Operations at CenterPoint Energy. He was separated from the company on January 3, 2023, due to the elimination of his position .
    1. 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?

    2. 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?

    3. 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?

    4. 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?

    5. 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 .
    CustomerRelationshipSegmentDetails
    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)
    NameStart DateEnd DateReason for Change
    Deloitte & Touche LLP1932 PresentCurrent auditor

    Recent developments and announcements about CNP.

    Corporate Leadership

      Leadership Change

      ·
      Dec 16, 2024, 12:30 PM

      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

      ·
      Dec 16, 2024, 12:30 PM

      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

      ·
      Dec 3, 2024, 10:44 PM

      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 .