GHRI Phase Two Update: CenterPoint Energy completes 100 percent of undergrounding milestone; 400 miles of strategic power line undergrounding completed ahead of 2025 hurricane season
Rhea-AI Summary
CenterPoint Energy (CNP) has successfully completed the installation of 400 miles of underground power lines as part of its Greater Houston Resiliency Initiative (GHRI) Phase Two, achieving 100% of its strategic undergrounding goal ahead of the 2025 hurricane season. This milestone contributes to the company's broader objective of having more than 50% of its electric system underground to enhance resiliency.
The critical infrastructure upgrade, completed over eight months, aims to strengthen the system against extreme weather conditions, high winds, falling vegetation, and vehicle collisions. Once all GHRI milestones are achieved, these improvements are expected to reduce customer outages by over 125 million minutes annually, advancing CenterPoint's goal of building the most resilient coastal grid in the country.
Positive
- Completed 400 miles of underground power line installation ahead of schedule
- System improvements projected to reduce outages by over 125 million minutes annually
- Progress towards achieving over 50% of electric system being underground
- Enhanced grid resilience against extreme weather conditions and other hazards
Negative
- None.
News Market Reaction
On the day this news was published, CNP gained 0.33%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Underground power lines installed ahead of schedule, with all Greater Houston Resiliency Initiative (GHRI) Phase Two resiliency actions on track to be completed by June 1
Historic suite of GHRI actions will improve system resiliency and reliability, resulting in the reduction of more than 125 million outage minutes annually
"All of us at CenterPoint are laser-focused on preparing for the 2025 hurricane season and strengthening the system against more powerful storms and extreme weather. We will continue working hard every day to build on the significant progress we've made since launching the Greater Houston Resiliency Initiative, as we continue toward our goal of building the most resilient coastal grid in the country," said Darin Carroll, Senior Vice President of Electric Business.
When all GHRI milestones are achieved, these system improvements and actions will further strengthen resiliency and are projected to reduce outages for customers by more than 125 million minutes annually.
As part of its commitment to transparency, CenterPoint will continue to provide regular updates on its progress toward completing its critical resiliency actions and other GHRI commitments. More information and real-time updates are available at CenterPointEnergy.com/TakingAction.
About CenterPoint Energy, Inc.
As the only investor-owned electric and gas utility based in
Forward-looking statements
This news release, as well as the website pages related to the GHRI, includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this news release or the website pages related to the GHRI, 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, which include statements regarding the GHRI and longer-term resiliency plans, including effectiveness, timing and related matters, 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 or the website pages related to the GHRI and other emergency preparations regarding future events that are not historical facts are forward-looking statements. Each forward-looking statement contained in this news release or the website pages related to the GHRI, including expected benefits, speaks only as of the date of this release or the date that such statement is made, as applicable. 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) business strategies and strategic initiatives, restructurings, joint ventures, acquisitions or dispositions of assets or businesses involving CenterPoint Energy or its industry; (2) CenterPoint Energy's ability to fund and invest planned capital, and the timely recovery of its investments; (3) financial market and general economic conditions; (4) the timing and impact of future regulatory, legislative and political actions or developments; 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, 2024 and other reports CenterPoint Energy or its subsidiaries may file from time to time with the Securities and Exchange Commission.
For more information, contact:
Communications
Media.Relations@CenterPointEnergy.com
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SOURCE CenterPoint Energy
FAQ
What milestone did CenterPoint Energy (CNP) achieve in its GHRI Phase Two program?
How many outage minutes will CenterPoint Energy's GHRI improvements reduce annually?
What percentage of CenterPoint Energy's electric system will be underground after GHRI completion?
What types of hazards will CNP's underground power lines protect against?
How long did it take CenterPoint Energy to complete the 400-mile power line undergrounding?
