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| CNP > SEC Filings for CNP > Form 8-K on 12-Dec-2008 | All Recent SEC Filings |
12-Dec-2008
Regulation FD Disclosure
On December 11, 2008, CenterPoint Energy, Inc. (the "Company") issued a press
release announcing that CenterPoint Energy Houston Electric, LLC ("CEHE"), a
wholly owned subsidiary of the Company, filed a settlement agreement with the
Public Utility Commission of Texas ("Texas Utility Commission"), which includes
a plan to deploy an advanced metering system across CEHE's service territory
over the next five years.
The Press Release is being furnished, not filed, pursuant to Regulation FD.
Accordingly, the Press Release will not be incorporated by reference into any
registration statement filed by the Company or CEHE under the Securities Act of
1933, as amended, unless specifically identified therein as being incorporated
therein by reference. The furnishing of the Press Release is not intended to,
and does not, constitute a determination or admission by the Company or CEHE
that the information in the press release is material or complete, or that
investors should consider this information before making an investment decision
with respect to any security of the Company, CEHE or any of their affiliates.
Item 8.01 Other Events.
On December 11, 2008, CEHE filed a settlement agreement with the Texas
Utility Commission, which includes a plan to deploy an advanced metering system
across CEHE's service territory over the next five years. The settlement
agreement reached with Texas Utility Commission staff and other interested
parties is subject to review and approval by the Texas Utility Commission. The
Company anticipates that CEHE could begin installing meters as early as March 1,
2009, if the filed plan is approved by the end of 2008.
By this settlement, CEHE would recover the cost for the interactive meters
through a monthly surcharge to all retail electric providers over 12 years. The
surcharge for each residential consumer for the first 24 months, beginning in
February 2009, will be $3.24 per month; thereafter, the surcharge is scheduled
to be reduced to $3.05 per month. These amounts are subject to upward or
downward adjustment in future proceedings to reflect actual costs incurred and
to address required changes in scope. The Company projects capital expenditures
of approximately $640 million for the installation of the interactive meters and
corresponding communication and data management systems over the five-year
deployment period.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
This report includes forward-looking statements. Actual events and results
may differ materially from those projected. The statements in this report
regarding the timing of Texas Utility Commission approval, the anticipated
timing of installation of meters, projected capital expenditures and other
statements that are not historical facts are forward-looking statements. Factors
that could affect actual results include the timing and outcome of the Texas
Utility Commission approval process, the timing and impact of future regulatory
and legislative decisions, general market conditions and other factors discussed
in the Company's and CEHE's Form 10-Ks for the period ended December 31, 2007,
Form 10-Qs for the periods ended March 31, 2008, June 30, 2008 and September 30,
2008 and other filings with the Securities and Exchange Commission.
Item 9.01 Financial Statements and Exhibits.
The exhibit listed below is furnished pursuant to Item 7.01 of this Form 8-K.
(d) Exhibits.
99.1 Press release dated December 11, 2008
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