10/29/2024 | Press release | Distributed by Public on 10/29/2024 14:45
Significant capital investments include pipeline replacement, modern meters and advanced leak detection as part of commitment to improve safety and modernize service
Dayton - Oct. 29, 2024 - CenterPoint Energy's Ohio-based natural gas business today filed an application with the Public Utilities Commission of Ohio (PUCO) to recover costs incurred to build a safer and more modern natural gas system for more than 333,000 customers in its 16-county service area in West Central Ohio. The company's proposal includes recovery of costs for critical and continued investments in gas safety, reliability and infrastructure improvements.
"Our top priority is to continue to strengthen the safety and reliability of the natural gas service we provide to our customers and communities," said Ashley Babcock, CenterPoint's Vice President of Gas Operations, Indiana and Ohio. "From installing new industry-grade pipes and more advanced meters, to improving leak detection and meeting the needs of our customers, these investments support our ability to deliver the level of service that our customers expect and deserve."
Ongoing gas system safety improvements
To meet the region's needs, CenterPoint has invested $830 million in its Ohio natural gas infrastructure since 2018. Key benefits to customers from investments have included:
CenterPoint's proposal, which represents the first time in six years the company has sought a rate adjustment, would result in an increase of approximately $23 per month for the average residential customer. The PUCO's review of CenterPoint's request is expected to take several months, with a final decision expected by early 2026. During this time, CenterPoint is committed to engaging with its customers and welcomes public input as part of its commitment to meet the current and future needs of its natural gas customers.
A commitment to supporting our customers
CenterPoint is committed to supporting its customers with a variety of programs, as well as tips and tools that provide assistance for those facing financial hardship, while also providing help to all customers to better manage bills and save energy. Among the programs, tips and tools available include:
CenterPoint Energy delivers natural gas to approximately 333,000 customers in all or portions of Auglaize, Champaign, Clark, Clinton, Darke, Fayette, Greene, Highland, Logan, Madison, Miami, Montgomery, Pickaway, Preble, Shelby and Warren counties.
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 serve more than 7 million metered customers in Indiana, Louisiana, Minnesota, Mississippi, Ohio and Texas. With approximately 9,000 employees, 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 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) CenterPoint Energy's business strategies and strategic initiatives; (2) financial market conditions; (3) general economic conditions; (4) the timing and impact of future regulatory and legislative decisions; and (5) other factors, risks and uncertainties discussed in CenterPoint Energy's Annual Report on Form 10-K for the fiscal year ended December 31, 2023 and CenterPoint's Quarterly Report on Form 10-Q for the quarters ended March 31, 2024, June 30, 2024, and September 30, 2024 and other reports CenterPoint Energy or its subsidiaries may file from time to time with the Securities and Exchange Commission.