StockNews.AI
CNP
StockNews.AI
165 days

Greater Houston Resiliency Initiative Update: CenterPoint Energy surpasses 50% completion milestone for several key resiliency actions; Company on track to complete commitments ahead of 2025 hurricane season

1. CenterPoint Energy is 50% through GHRI Phase Two projects. 2. Improvement actions include poles, vegetation clearing, and undergrounding power lines. 3. Resiliency upgrades expected to reduce outages by 125 million minutes annually. 4. Weather stations and improved customer communications are part of the initiative. 5. Completion is set before the June 1, 2025 hurricane season.

8m saved
Insight
Article

FAQ

Why Bullish?

CNP's ongoing investments into grid resiliency may enhance customer satisfaction and reduce outage-related costs. Historical improvements have led to higher stock performance during proactive measures in utility sectors.

How important is it?

The GHRI's progress indicates strong operational execution and future cost savings, which are critical for CNP's financial health. Stakeholder confidence typically increases with significant infrastructure investments, shaping long-term outlooks positively.

Why Long Term?

The benefits of upgraded infrastructure will be long-lasting, particularly with increasing weather-related disruptions. Similar past initiatives have resulted in sustained operational improvements and customer retention.

Related Companies

FANGDTE
More than 14,200 stronger, storm-resilient poles installed; 2,200+ miles of high-risk vegetation cleared; 2,170+ automated reliability devices installed; and 280+ miles of power lines undergroundedWhen completed by June 1, GHRI Phase Two actions will improve reliability and reduce outages by more than 125 million minutes annually, /PRNewswire/ -- Today, as part of Phase Two of the Greater Houston Resiliency Initiative (GHRI), CenterPoint Energy shared its latest monthly progress update, which showed the company is on track to strengthen the resiliency of the grid in key areas ahead of the 2025 hurricane season. To date, CenterPoint announced that it has completed more than 50 percent of several of its planned near-term critical resiliency actions and grid improvements since Fall 2024. Those actions include: installing stronger poles, adding more automation devices, undergrounding power lines, and trimming hazardous vegetation. This pace reflects the company's plan to complete these resiliency actions before the start of hurricane season on June 1, 2025. GHRI Phase 2 March 2025 Update "Our CenterPoint team remains fully focused on executing our historic effort to strengthen the grid and improve resiliency and reliability. To date, we've already surpassed 50 percent completion across several critical resiliency actions we're taking as part of the Greater Houston Resiliency Initiative, including installing thousands of stronger, storm-resilient poles, clearing more miles of hazardous vegetation near power lines, and undergrounding more power lines. Looking forward, we are on track to complete these vital improvements before the 2025 hurricane season as we continue to deliver on our ambition of building the most resilient coastal grid in the country," said Darin Carroll, Senior Vice President of CenterPoint's Electric Business. GHRI Progress Milestone: More Than 50% Complete on Several Key MetricsOn Sept. 30, CenterPoint announced the launch of Phase Two of the GHRI, which included a series of additional actions to strengthen resiliency, enable a self-healing system and reduce the duration and impact of power outages. In the past month alone, as part of the second phase of its GHRI, which will strengthen the grid in advance of hurricane season, the company has made progress in key areas including: Installed approximately 2,900 stronger, more storm-resilient poles built to withstand extreme winds; Cleared another 417 miles of high-risk vegetation near power lines to reduce storm-related outages; and Installed an additional 1,334 automated reliability devices to reduce the impact of outages and improve restoration times; and Undergrounded 47 more miles of power lines to reduce the impact of extreme weather. The resiliency actions outlined in GHRI Phase Two are expected to lead to more than 125 million fewer minutes annually for customers. Through early March, the company has made significant advances across its Greater Houston service area and is on track to complete its work before the start of hurricane season on June 1, 2025.  Installation of CenterPoint Weather Monitoring Stations NetworkAs part of GHRI Phase Two, CenterPoint teams will be building out a network of 100 new weather monitoring stations across the Greater Houston area. This critical weather network is on track to begin installation in April and is expected to be completed before the start of the 2025 hurricane season.Improving Customer Communications and Public OutreachThe company is also working to expand and improve the way it communicates with customers and engages with communities before, during and after extreme weather events and other emergencies, including through a year-round safety and preparedness campaign. CenterPoint representatives will continue to be in the community in the months leading up to hurricane season to share information on CenterPoint's preparedness efforts, as well as safety and preparedness tips and resources for customers.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. For more information, contact:Communications[email protected] SOURCE CenterPoint Energy, Inc WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

Related News