HOUSTON, April 3, 2017 /PRNewswire/ -- CenterPoint
Energy, Inc.'s (NYSE: CNP) electric utility submitted a proposal to
the Electric Reliability Council of Texas (ERCOT) requesting its endorsement for
CenterPoint to enhance existing, and construct new, electric
transmission infrastructure. This project would meet the
unprecedented load growth of the petrochemical industry in the
Freeport, Texas area. This growth
includes new committed load expected to total approximately 1,340
megawatts, which is planned to go into service at varying stages
between 2017 and 2019. The company expects to have the
proposed enhancements complete by summer 2019 and the proposed new
line is anticipated to be in service in 2021.
The approximately $250 million
transmission project includes enhancements to two existing
substations and construction of a new 345 kilovolt double-circuit
transmission line. Capital expenditures
for the project would be incremental to the five-year capital plan
as disclosed in the 2016 Form 10-K.
"We are fortunate to serve an area that continues to experience
growth and expansion in the petrochemical industry," said
Kenny Mercado, senior vice president
of CenterPoint Energy's Electric Operations. "This project is
critical to reliability due to the magnitude of new load being
added to the area."
The proposed project timeline takes into consideration the
typical lead times necessary to implement the proposed enhancements
and construction, including review by ERCOT and the Public Utility
Commission of Texas. The company
anticipates a decision by the fourth quarter of 2017.
Forward-Looking Statements: This news release includes
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements are based upon assumptions of management which are
believed to be reasonable at the time made and are subject to
significant risks and uncertainties. Actual events and results may
differ materially from those expressed or implied by these
forward-looking statements. Any statements in this news
release regarding future events, such as future construction and
expansion of electric transmission lines and facilities, future
regulatory actions, future economic conditions and any other
statements that are not historical facts are forward-looking
statements. Each forward-looking statement contained in this news
release speaks only as of the date of this release.
CenterPoint Energy, Inc., headquartered in Houston, Texas, is a domestic energy delivery
company that includes electric transmission & distribution,
natural gas distribution and energy services operations. The
company serves more than five million metered customers primarily
in Arkansas, Louisiana, Minnesota, Mississippi, Oklahoma, and Texas. The company also owns a 54.1 percent
limited partner interest in Enable Midstream Partners, a publicly
traded master limited partnership it jointly controls with OGE
Energy Corp., which owns, operates and develops natural gas
and crude oil infrastructure assets. With more than 7,700
employees, CenterPoint Energy and its predecessor companies have
been in business for more than 140 years. For more information,
visit the website at www.CenterPointEnergy.com.
For more information contact
Media:
Leticia Lowe
Phone 713.207.7702
Investors:
David Mordy
Phone
713.207.6500
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SOURCE CenterPoint Energy, Inc.