HOUSTON, Jan. 5, 2018 /PRNewswire/ -- CenterPoint
Energy, Inc. (NYSE: CNP) today announced its capital spending plan
for 2018-2022. For the five-year period, the company expects to
make capital investments totaling $8.3
billion, representing an 18 percent increase over the
company's 2017-2021 capital plan. Growth, reliability and grid
hardening, as well as regulatory requirements are driving higher
capital investment. The company's five-year capital plan is as
follows:
|
2018
|
2019
|
2020
|
2021
|
2022
|
Capital
Estimate (in millions)
|
$
1,664
|
$
1,623
|
$
1,689
|
$
1,670
|
$
1,634
|
The 2018-2022 forecast includes the proposed $250 million Freeport transmission project approved by the
Electric Reliability Council of Texas on Dec. 12,
2017. The company anticipates the Texas Public Utility
Commission will provide a decision on the project in
2019.
CenterPoint Energy's management will host an earnings call at
11:00 a.m. Eastern time on Thursday,
Feb. 22, 2018, and will provide dial-in instructions at a later
date. Company executives plan to discuss 2017 earnings results,
2018 earnings guidance, long-term growth drivers and the impact of
the Tax Cuts and Jobs Act.
About CenterPoint Energy
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 150 years. For more information, visit the
website at www.CenterPointEnergy.com.
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. You are
cautioned not to place undue reliance on any forward-looking
statements. 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 capital spending,
regulatory actions and timing 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. Factors that could affect
actual results include (1) the performance of Enable Midstream
Partners, LP (Enable), the amount of cash distributions CenterPoint
Energy receives from Enable, Enable's ability to redeem the Series
A Preferred Units in certain circumstances and the value of
CenterPoint Energy's interest in Enable, and factors that may have
a material impact on such performance, cash distributions and
value, including factors such as: (A) competitive conditions in the
midstream industry, and actions taken by Enable's customers and
competitors, including the extent and timing of the entry of
additional competition in the markets served by Enable; (B) the
timing and extent of changes in the supply of natural gas and
associated commodity prices, particularly prices of natural gas and
natural gas liquids (NGLs), the competitive effects of the
available pipeline capacity in the regions served by Enable, and
the effects of geographic and seasonal commodity price
differentials, including the effects of these circumstances on
re-contracting available capacity on Enable's interstate pipelines;
(C) the demand for crude oil, natural gas, NGLs and transportation
and storage services; (D) environmental and other governmental
regulations, including the availability of drilling permits and the
regulation of hydraulic fracturing; (E) recording of non-cash
goodwill, long-lived asset or other than temporary impairment
charges by or related to Enable; (F) changes in tax status; (G)
access to debt and equity capital; and (H) the availability and
prices of raw materials and services for current and future
construction projects; (2) industrial, commercial and residential
growth in CenterPoint Energy's service territories and changes in
market demand, including the effects of energy efficiency measures
and demographic patterns; (3) timely and appropriate rate actions
that allow recovery of costs and a reasonable return on investment;
(4) future economic conditions in regional and national markets and
their effect on sales, prices and costs; (5) weather variations and
other natural phenomena, including the impact of severe weather
events on operations and capital; (6) state and federal legislative
and regulatory actions or developments affecting various aspects of
CenterPoint Energy's and Enable's businesses, including, among
others, energy deregulation or re-regulation, pipeline integrity
and safety and changes in regulation and legislation pertaining to
trade, health care, finance and actions regarding the rates charged
by our regulated businesses; (7) tax reform and legislation,
including the effects of the Tax Cuts and Jobs Act; (8) CenterPoint
Energy's ability to mitigate weather impacts through normalization
or rate mechanisms, and the effectiveness of such mechanisms; (9)
the timing and extent of changes in commodity prices, particularly
natural gas, and the effects of geographic and seasonal commodity
price differentials; (10) problems with regulatory approval,
construction, implementation of necessary technology or other
issues with respect to major capital projects that result in delays
or in cost overruns that cannot be recouped in rates; (11) local,
state and federal legislative and regulatory actions or
developments relating to the environment, including those related
to global climate change; (12) the impact of unplanned facility
outages; (13) any direct or indirect effects on CenterPoint
Energy's facilities, operations and financial condition resulting
from terrorism, cyber-attacks, data security breaches or other
attempts to disrupt CenterPoint Energy's businesses or the
businesses of third parties, or other catastrophic events such as
fires, earthquakes, explosions, leaks, floods, droughts,
hurricanes, pandemic health events or other occurrences; (14)
CenterPoint Energy's ability to invest planned capital and the
timely recovery of CenterPoint Energy's investment in capital; (15)
CenterPoint Energy's ability to control operation and maintenance
costs; (16) actions by credit rating agencies; (17) the sufficiency
of CenterPoint Energy's insurance coverage, including availability,
cost, coverage and terms; (18) the investment performance of
CenterPoint Energy's pension and postretirement benefit plans; (19)
commercial bank and financial market conditions, CenterPoint
Energy's access to capital, the cost of such capital, and the
results of CenterPoint Energy's financing and refinancing efforts,
including availability of funds in the debt capital markets; (20)
changes in interest rates or rates of inflation; (21) inability of
various counterparties to meet their obligations to CenterPoint
Energy; (22) non-payment for CenterPoint Energy's services due to
financial distress of its customers; (23) the extent and
effectiveness of CenterPoint Energy's risk management and hedging
activities, including, but not limited to, its financial hedges and
weather hedges; (24) timely and appropriate regulatory actions
allowing securitization or other recovery of costs associated with
Hurricane Harvey and any future hurricanes or natural disasters;
(25) CenterPoint Energy's or Enable's potential business strategies
and strategic initiatives, including restructurings, joint ventures
and acquisitions or dispositions of assets or businesses (including
a reduction of CenterPoint Energy's interests in Enable, whether
through its election to sell the common units it owns in the public
equity markets or otherwise, subject to certain limitations), which
CenterPoint Energy cannot assure will be completed or will have the
anticipated benefits to it or Enable; (26) acquisition and merger
activities involving CenterPoint Energy or its competitors; (27)
CenterPoint Energy's or Enable's ability to recruit, effectively
transition and retain management and key employees and maintain
good labor relations; (28) the ability of GenOn Energy, Inc.
(formerly known as RRI Energy, Inc., Reliant Energy and RRI), a
wholly-owned subsidiary of NRG Energy, Inc. (NRG), and its
subsidiaries, currently the subject of bankruptcy proceedings, to
satisfy their obligations to CenterPoint Energy, including
indemnity obligations; (29) the outcome of litigation; (30) the
ability of retail electric providers (REPs), including REP
affiliates of NRG and Vistra Energy Corp., formerly known as TCEH
Corp., to satisfy their obligations to CenterPoint Energy and its
subsidiaries; (31) changes in technology, particularly with respect
to efficient battery storage or the emergence or growth of new,
developing or alternative sources of generation; (32) the timing
and outcome of any audits, disputes and other proceedings related
to taxes; (33) the effective tax rates; (34) the effect of changes
in and application of accounting standards and pronouncements; and
(35) other factors discussed in CenterPoint Energy's Annual Report
on Form 10-K for the fiscal year ended December 31, 2016, as well
as in CenterPoint Energy's Quarterly Report on Form 10-Q for the
quarter ended March 31, 2017, June 30, 2017, and September 30,
2017, 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:
Leticia Lowe
Phone 713.207.7702
Investors
David Mordy
Phone 713.207.6500
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SOURCE CenterPoint Energy, Inc.