HOUSTON, Jan. 10, 2022 /PRNewswire/
-- CenterPoint Energy, Inc. (NYSE: CNP) today announced
that it has successfully completed the previously announced sale of
its natural gas distribution utilities in Arkansas and Oklahoma to Summit Utilities, Inc. The assets
include approximately 17,000 miles of main pipeline in Arkansas, Oklahoma and Texarkana, serving more than 500,000
residential and business customers.
The transaction received all necessary federal and state
regulatory approvals, including from the Arkansas Public Service
Commission, Oklahoma Corporation Commission and Federal Energy
Regulatory Commission. Summit will
immediately assume responsibility for serving CenterPoint Energy's
former customers in Arkansas,
Oklahoma and Texarkana.
CenterPoint Energy Executive Vice President, Utility Operations
Scott Doyle said, "We want to thank
our employees and those of Summit
for the successful completion of this transaction. We will be
working together for a seamless transition for the benefit of the
customers throughout the service territories."
CenterPoint Energy President and CEO Dave Lesar said, "Completing the sale of
these natural gas distribution businesses will help us achieve a
number of our strategic goals, including efficiently funding our
long-term capital investment plans across our regulated utility
businesses without issuing external equity, driving
industry-leading rate base growth, and allowing us to focus our
efforts on executing our plan across fewer jurisdictions."
Lesar added, "At our recent Analyst Day, we outlined a pathway
towards becoming a premium utility, including an updated five-year
capital plan of more than $18
billion, as well as a first-ever 10-year capital plan of
more than $40 billion to serve our
growing customer base. These investments will be dedicated to
safety, reliability, growth and enabling clean energy investments
to benefit our customers and investors."
About CenterPoint Energy, Inc.
As the only investor-owned electric and gas utility based in
Texas, CenterPoint Energy, Inc. (NYSE: CNP) is an energy
delivery company with electric transmission and distribution, power
generation and natural gas distribution operations that, after the
closing of the Arkansas/Oklahoma transaction, serve nearly 7 million
metered customers in Indiana,
Louisiana, Minnesota, Mississippi, Ohio and Texas. As of September 30, 2021, the
company owned approximately $37 billion in assets. With
approximately 9,000 total employees after the closing of the
Arkansas/Oklahoma transaction, CenterPoint
Energy and its predecessor companies have been in business for
more than 150 years. For more information,
visit CenterPointEnergy.com.
Forward-Looking Statements
This news release includes forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
When used in this news release, the words "anticipate," "believe,"
"continue," "could," "estimate," "expect," "forecast," "goal,"
"intend," "may," "objective," "plan," "potential," "predict,"
"projection," "should," "target," "will" or other similar words are
intended to identify forward-looking statements. 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 CenterPoint Energy's
capital investments, rate base growth and its ability to achieve
it, financing plans (including future equity issuances), and future
financial performance and results of operations 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. Important
factors that could cause actual results to differ materially from
those indicated by the provided forward-looking information include
risks and uncertainties relating to: (1) the impact of COVID-19;
(2) financial market conditions; (3) general economic conditions;
(4) the timing and impact of future regulatory and legislative
decisions; (5) effects of competition; (6) weather variations; (7)
changes in business plans; and (8) other factors, risks and
uncertainties discussed in CenterPoint Energy's Annual Report on
Form 10-K for the fiscal year ended December
31, 2020, CenterPoint Energy's Quarterly Reports on Form
10-Q for the quarters ended March 31,
2021, June 30, 2021 and
September 30, 2021 and other reports
CenterPoint Energy or its subsidiaries may file from time to time
with the Securities and Exchange Commission.
For more information, contact
Media
Relations
Media.Relations@CenterPointEnergy.com
Investor Relations
Jackie
Richert
Phone: 713.207.6500
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SOURCE CenterPoint Energy, Inc.