Greater Houston Resiliency Initiative Phase Two Monthly Update: CenterPoint Energy continues to make good progress with more than 7,000 stronger poles installed across the area in less than 100 days

Rhea-AI Summary

CenterPoint Energy has reported significant progress in Phase Two of its Greater Houston Resiliency Initiative (GHRI), installing over 7,060 storm-resilient poles in less than 100 days. Recent achievements include clearing 400+ miles of power lines from high-risk vegetation, undergrounding 40 miles of power lines, and installing 20 self-healing automation devices.

The initiative, aimed at building the most resilient coastal grid, is expected to reduce customer outage time by more than 125 million minutes annually. Future plans through May 31, 2025, include installing 4,500 automated reliability devices and establishing 100 new weather monitoring stations before the 2025 hurricane season.

Positive

• Installation of 7,060 stronger storm-resilient poles in three months
• Clearing of 400+ miles of power lines from high-risk vegetation
• 40 miles of power lines moved underground
• Expected reduction of 125 million customer outage minutes annually
• Planned installation of 4,500 automated reliability devices

Negative

• None.

News Market Reaction

+1.59%

1 alert

+1.59% News Effect

On the day this news was published, CNP gained 1.59%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Actions throughout GHRI Phase Two include installation of stronger poles, clearance of more vegetation miles, undergrounding of more power lines and additional "self-healing" devices

When complete, GHRI Phase Two actions will improve reliability by saving customers more than 125 million fewer outage minutes annually.

HOUSTON, Dec. 12, 2024 /PRNewswire/ -- Today, as part of the second phase of its Greater Houston Resiliency Initiative (GHRI), CenterPoint Energy shared it latest monthly progress update with new resiliency milestones including the installation of approximately 7,060 stronger, storm-resilient total poles in the last three months.

Since the launch of GHRI Phase Two three months ago, and in preparation for the 2025 hurricane season, CenterPoint continues to make good progress on the suite of additional resiliency actions. The latest program updates are available at CenterPointEnergy.com/TakingAction.

In the last four weeks alone, the company has: installed an additional nearly 2.500 more storm-resilient poles; completed the clearance of more than approximately 400 more miles of power lines with high-risk vegetation, undergrounded 40 more miles of power lines to reduce the impact of extreme weather; and installed an additional 20 self-healing automation devices to minimize the impact of outages and help improve overall restoration times.

When completed, the resiliency actions outlined in GHRI Phase Two will lead to more than 125 million fewer outage minutes annually for customers.

"All across Greater Houston, our teams continue working toward our goal of building the most resilient coastal grid in the country and providing the more reliable day-to-day service that our customers expect and deserve. From the thousands of poles we've installed to trimming more hazardous areas of vegetation around our lines, and undergrounding more power lines, the many other critical resiliency actions we are taking reflect our commitment to our customers, our stakeholders, and to ensuring our communities are better positioned to withstand the next major storm or hurricane," said Darin Carroll, Senior Vice President of CenterPoint's Electric Business.

GHRI Phase Two: Significant Progress to Date
On September 30, CenterPoint announced the launch of Phase Two of the GHRI, which included a series of actions to strengthen resiliency, enable a self-healing grid and reduce the duration and impact of power outages. Through early December, the company has made significant advances across its Greater Houston service area, including:

GHRI Phase Two: More "Self-Healing" Devices Coming in Early 2025
CenterPoint teams will be taking additional actions as part of the second phase of GHRI, which runs through May 31, 2025, including beginning in early 2025: installing some 4,500 automated reliability devices to create a more "self-healing' grid and minimize sustained interruptions during major storm events as well as reduce restoration times; and establishing a network of 100 new weather monitoring stations. These improvements are on track to begin in early 2025 and be completed before the start of the next hurricane season.

The company is also working to expand and improve the way it communicates with customers and engages with communities before, during and after emergencies, including through a year-round safety and preparedness campaign.

CenterPoint will continue to provide 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 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, 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 our resiliency investments, and the GHRI, 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 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 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 pandemics, including the COVID-19 pandemic; (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 Reports on Form 10-Q for the quarters ended March 31, 2024 and June 30, 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

How many storm-resilient poles has CenterPoint Energy (CNP) installed in Phase Two of GHRI?

CenterPoint Energy has installed approximately 7,060 storm-resilient poles in the first three months of GHRI Phase Two.

What is the expected reduction in outage minutes from CNP's GHRI Phase Two initiative?

When completed, GHRI Phase Two is expected to reduce customer outage minutes by more than 125 million minutes annually.

How many automated reliability devices will CNP install in early 2025?

CenterPoint Energy plans to install approximately 4,500 automated reliability devices in early 2025 to create a more self-healing grid.

When will CNP complete Phase Two of the Greater Houston Resiliency Initiative?

Phase Two of the GHRI is scheduled to run through May 31, 2025, with completion before the start of the 2025 hurricane season.

How many miles of power lines has CNP moved underground in the latest GHRI update?

CenterPoint Energy has undergrounded 40 miles of power lines to reduce the impact of extreme weather.