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CenterPoint Energy

 
Hoover's Profile: CenterPoint Energy, Inc.
(NYSE:CNP)
Company Financials
Income Statement
Balance Sheet
Cash Flow Statement

Contact Information
CenterPoint Energy, Inc.
1111 Louisiana St.
Houston, TX 77002
TX Tel. 713-207-1111
Fax 713-207-3169

Type: Public
On the web: http://www.centerpointenergy.com
Employees: 8,801
Employee growth: 2.7%

CenterPoint Energy has made a complete pivot around its core operations. The company, which had evolved from a local utility into a global power provider, has spun off most of its nonregulated operations and has returned to its roots. CenterPoint Energy's regulated utilities distribute natural gas to 3.2 million customers in six US states and electricity to 2 million customers on the Texas Gulf Coast. The company's main stomping ground is Texas, where it has regulated power distribution operations through subsidiary CenterPoint Energy Houston Electric. CenterPoint Energy also operates more than 8,000 miles of interstate gas pipeline, and it has gas gathering and storage operations.

Key numbers for fiscal year ending December, 2008:
Sales: $11,322.0M
One year growth: 17.7%
Net income: $447.0M
Income growth: 12.0%

Officers:
Chairman: Milton Carroll
President, CEO, and Director: David M. McClanahan
EVP and CFO: Gary L. Whitlock

Competitors:
AEP
Energy Future
Xcel Energy

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CenterPoint Energy
Type Public (NYSECNP)
Founded 1882
Headquarters Houston, Texas, USA
Key people David M. McClanahan, CEO & President
Industry Utilities
Revenue $9.623 billion USD (2007)
Operating income $1.185 billion USD (2007)
Net income $399 million USD (2007)
Employees 8,568 (2007)
Website www.centerpointenergy.com
Centerpoint Energy Plaza, CenterPoint Energy headquarters in Downtown Houston

CenterPoint Energy (NYSECNP) is a Fortune 500 electric and natural gas utility serving several markets in the U.S. states of Arkansas, Louisiana, Minnesota, Mississippi, Oklahoma, and Texas. It was formerly known as Reliant Energy (from which it is now separated), NorAm Energy, Houston Industries, and HL&P. The company is headquartered in the CenterPoint Energy Tower at 1111 Louisiana Street in Downtown Houston.[1][2] Some of its notable subscribers include Retail Electric Providers (REPs), such as Reliant Energy, Texas Power, Bounce Energy, Direct Energy, Stream Energy, First Texas Energy Corporation, Gexa Energy, Cirro Energy.

Contents

History

Until December 15, 2004, CenterPoint Energy and its predecessors operated in its various markets under these names; they were used separately prior to Reliant Energy, and later in conjunction with the Reliant Energy and CenterPoint Energy names:

  • Minnegasco (Natural gas throughout parts of Minnesota)
  • Houston Lighting and Power (or HL&P) Houston-Galveston electric provider
  • Entex (Natural gas throughout South and East Texas, Southern Louisiana and Mississippi)
  • Arkla (Natural gas throughout Northern Louisiana, Oklahoma and Arkansas)

In late 2004, four private equity firms—the Texas Pacific Group, the Blackstone Group, Kohlberg Kravis Roberts, and Hellman & Friedman—combined forces to purchase Texas Genco from Centerpoint. Later in 2006, Texas Genco was sold to NRG Energy of Princeton, N.J.

Hurricane Ike Power Outage

A CenterPoint Energy facility in Downtown Houston.

In September 2008, CenterPoint Energy suffered great disruption of service in the Greater Houston Area, wiping out 2.1 million of CenterPoint Energy's 2.26 million clients' electricity. This was the largest power outage in the company's 130 year history, as well as the largest in the state's history.

See also

References

  1. ^ "Contact Information." CenterPoint Energy. Retrieved on January 14, 2009.
  2. ^ "CenterPoint Energy Tower." Berger Iron Works. Retrieved on January 14, 2009.

External links


 
 

 

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