CenterPoint Energy, Inc. (CNP): Business Model Canvas [Dec-2025 Updated]

You're looking at a utility making a massive pivot, and honestly, the numbers tell the whole story for CenterPoint Energy, Inc. The company is betting big on its pure-play utility transition, backing it with a staggering $65 billion capital plan aimed squarely at Texas's surging electric needs. As an analyst, I see this as a high-stakes play where execution on that plan-including the expected ~$5.3 billion in capital expenditures for 2025-is everything, especially when weighed against their $1.75 to $1.77 Non-GAAP EPS guidance for the year. Let's break down the nine essential blocks of their Business Model Canvas to see exactly how they plan to manage this massive infrastructure build and deliver those predictable, regulated returns.

CenterPoint Energy, Inc. (CNP) - Canvas Business Model: Key Partnerships

CenterPoint Energy, Inc. key partnerships are critical for grid modernization, regulatory compliance, and meeting surging energy demand, especially from data centers.

The collaboration with Palantir and Nvidia on the Chain Reaction AI platform is a significant new development, launched on December 4, 2025. CenterPoint Energy is a founding partner and the first major customer, using the platform to speed up access to power and improve operational visibility across its critical assets. This partnership directly addresses the projected energy consumption increase in the Greater Houston region, which is forecasted to rise by nearly 50% in five years and is expected to double by the mid-2030s.

In the Texas deregulated market, CenterPoint Energy operates as a regulated poles and wires utility, delivering electricity to over 2 million customers on behalf of Retail Electric Providers (REPs). CenterPoint Energy no longer sells electricity in this market, focusing instead on maintaining and operating the transmission and distribution lines.

Regulatory relationships, such as with the Indiana Utility Regulatory Commission (IURC), are vital for cost recovery. The IURC approved a rate increase for CenterPoint Energy's electric utility on February 3, 2025. The approved annual revenue increase was $80 million, lower than the initial request of approximately $118.8 million. For a typical residential customer using 799 kWh per month, the total phased-in increase was projected to reach approximately $26 per month. However, following public criticism, CenterPoint Energy announced actions in October 2025 projecting an initial decrease of nearly $3 per month by the end of 2025, with potential savings of approximately $18 per month in avoided costs through 2027.

Capital deployment relies heavily on partnerships with construction and engineering firms. CenterPoint Energy increased its 2025 capital investment plan by $500 million, bringing the total announced increase for the year to $5.5 billion. This is part of a larger, more recent transformative 10-year plan announced in September 2025, totaling $65 billion through 2035. Through the first half of 2025, the company invested $2.4 billion in base work for its customers. The electric segment is slated to receive the majority of these funds, with approximately $45.5 billion allocated through 2035.

CenterPoint Energy's commitment to Diverse suppliers (MWBEs) is integrated into its procurement strategy, though specific numeric goals for all jurisdictions are not always public. The company requires its prime suppliers, making up more than 80 percent of its business, to provide quarterly reports on second-tier spending. Historical data from 2023 shows the following spend levels:

In Minnesota, CenterPoint Energy reported that small businesses made up 11% of its total procurement spending for 2025 filings.

You can see the regulatory and investment scale in this comparison:

• IURC approved annual revenue increase (initial settlement): $80 million
• Projected total monthly bill increase for typical residential customer (phased-in): $26 per month
• CenterPoint Energy 2025 Capital Investment Plan Increase: $5.5 billion
• CenterPoint Energy 10-Year Capital Plan (through 2035): $65 billion
• Capital allocated to Electric Segment (through 2035): $45.5 billion

Finance: review the funding mechanism for the $5.5 billion 2025 capital increase by end of week.

CenterPoint Energy, Inc. (CNP) - Canvas Business Model: Key Activities

You're looking at the core engine room of CenterPoint Energy, Inc. (CNP), the activities that actually drive the business, especially as they navigate massive growth and infrastructure overhaul. Here's the breakdown of what they are actively doing, grounded in the latest numbers available as of late 2025.

Electric transmission and distribution (T&D) operations.

CenterPoint Energy is heavily focused on maintaining and growing its electric footprint, particularly in the high-demand Houston area. As of September 30, 2025, the company owned approximately $45 billion in assets across its four-state footprint, which includes electric T&D, power generation, and natural gas distribution. The Houston Electric business, which serves about 2.8 million metered customers, is seeing intense activity. Throughput in this segment was up 9% year-to-date through Q3 2025, with industrial throughput leading the charge, up more than 17% quarter-over-quarter. This operational intensity is directly tied to managing the forecasted electric peak load growth in Houston, which is expected to jump nearly 50% to almost 31 GWs by 2031.

Executing the $65 billion 10-year capital investment plan.

The most significant activity is the deployment of capital for future capacity and reliability. CenterPoint Energy announced a transformative 10-year capital investment plan spanning 2026 through 2035, totaling a record $65 billion. This new plan is nearly 40% higher than the previous 2021 budget. This follows several increases to the prior plan, which stood at $53 billion through 2030 as of mid-2025. The company has also identified more than $10 billion of incremental investment opportunities beyond the stated $65 billion.

Here's how the capital deployment is being prioritized, based on the latest updates:

• Targeting $21 billion in Texas investments by 2030 under the $53 billion plan.
• Allocating $4.3 billion for electric transmission and distribution upgrades within that Texas allocation.
• Planning for $500 million specifically for resiliency projects in Texas.
• Expecting to fund the plan through debt, retained earnings, and $2.75 billion of equity or equity-like proceeds through 2030.

Natural gas distribution and pipeline integrity management.

CenterPoint Energy maintains a substantial natural gas delivery business, serving over 3.9 million customers across its footprint. As of 2024, the company owned approximately 84,000 miles of distribution and transmission mains in its gas service territory, making it a top three utility by main pipeline miles. A key activity here is managing system integrity to meet federal mandates. The company implements Distribution Integrity Management Plans (DIMP) and Transmission Integrity Management Plans (TIMP) to evaluate and reduce pipeline risks, covering corrosion, damage, and other operational threats. Financially, this segment saw a strategic shift with the sale of its Louisiana and Mississippi natural gas LDC businesses in early 2025, which generated approximately $1.2 billion.

The focus on integrity includes remediation efforts, though specific operational challenges exist:

Grid modernization and resiliency initiatives in Houston Electric.

This is a critical, highly visible activity following severe weather events. CenterPoint completed Phase II of the Greater Houston Resiliency Initiative (GHRI) ahead of the 2025 hurricane season. The results are tangible: in the first six months of 2025, outage minutes dropped by 50% compared to the same period in 2024. This was achieved by installing approximately 32,000 storm-resistant poles and 5,150 automation devices, which is estimated to reduce outage duration by 125 million minutes annually. Furthermore, Texas utility regulators approved a $2.9 billion plan to strengthen the Houston grid, which is part of a larger multi-year investment strategy. This approved plan includes raising 99% of substations above the 500-year floodplain.

Power generation and wholesale sales (Indiana operations).

In Indiana, CenterPoint Energy's electric business serves about 150,000 electric customers and also owns power generation assets. A major ongoing activity is executing its generation transition plan. The company submitted its 2025 Integrated Resource Plan (IRP) on December 5, 2025, which focuses on affordability. This plan involved canceling $1 billion in renewable energy projects and keeping a coal-fired plant online longer to manage near-term rates. Key generation transition steps include the planned retirement of F.B. Culley Unit 2 in 2025 and converting Unit 3 to natural gas-fired combustion turbines. This follows a recent rate case where CenterPoint won an $80 million rate increase, which was less than the requested $118 million hike.

The Indiana business is actively managing its portfolio:

• The 2023 IRP projected 1,000 MWs of renewable generation by 2026.
• The 2025 IRP aims to limit near-term rate impacts for customers.
• CenterPoint's rates had been the highest in Indiana for 15 years before 2023.

Finance: draft 13-week cash view by Friday.

CenterPoint Energy, Inc. (CNP) - Canvas Business Model: Key Resources

When you look at CenterPoint Energy, Inc. (CNP), the key resources are fundamentally physical and regulatory. These aren't the flashy, scalable software assets you see in other sectors; they are the tangible, monopolistic infrastructure that defines a utility.

The most critical resource is the regulated electric and natural gas T&D infrastructure (Transmission & Distribution). This network is the barrier to entry. It's the pipes in the ground and the wires overhead that CenterPoint Energy is authorized to operate. This physical plant underpins the entire financial structure.

The scale of this physical resource is reflected in the balance sheet. As of September 30, 2025, CenterPoint Energy owned approximately $45 billion in assets. This asset base is what the regulators allow the company to earn a return on, which is the core of the business model.

The geographic footprint is another non-negotiable resource. CenterPoint Energy maintains exclusive service territories across Texas, Indiana, and Minnesota, among others. This exclusivity, granted by regulatory bodies, ensures a captive customer base of approximately 7 million metered customers. The Texas operations, particularly the Houston Electric territory, are central to future growth, with a projected peak load increase of 50% over six years driven by data centers and industrial activity.

The value of these assets is realized through the regulatory rate base supporting predictable returns. This is the mechanism that converts physical investment into financial stability. Management is targeting an aggressive 11% rate base growth through 2030. To support this, CenterPoint Energy has announced a record $65 billion capital investment plan through 2035. This investment is designed to be recovered, with management expecting to recover approximately 85% of investments through a forward test year.

You can't run that infrastructure without people, so the human capital is also a key resource. The workforce of approximately 8,300 employees is essential for maintaining, operating, and modernizing this complex system.

Here's a quick look at the quantified scale of these core assets as of late 2025:

The regulatory environment dictates the return on these assets. For instance, future rate case targets provide a view into the pipeline of recoverable investment:

• Minnesota Gas Rate Base Expected by 2028: Approximately $3.2B
• North Indiana Gas Rate Base Expected by 2028: Approximately $4.2B
• Houston Electric Rate Base Expected by 2029: Approximately $27B
• Indiana Electric Rate Base Expected by 2029: Approximately $4B

The ability to execute the capital plan and secure timely regulatory recovery is what translates these physical resources into shareholder value. Finance: draft 13-week cash view by Friday.

CenterPoint Energy, Inc. (CNP) - Canvas Business Model: Value Propositions

You're looking at the core promises CenterPoint Energy, Inc. is making to its customers and stakeholders as of late 2025. These aren't just vague goals; they are backed by significant capital deployment and measurable operational results.

Reliable electric and natural gas delivery to over 7 million customers.

CenterPoint Energy, Inc. is the energy delivery backbone for a massive service area, providing both electricity and natural gas. As of September 30, 2025, the company was serving approximately 7 million metered customers across its four-state footprint spanning Indiana, Minnesota, Ohio, and Texas. The electric transmission and distribution operations in the Greater Houston area alone account for serving more than 2.9 million metered customers.

The value here is sheer scale and dual-fuel service delivery. It's about keeping the lights on and the heat running for millions of homes and businesses.

Enhanced grid resiliency, reducing outage minutes by nearly 50% in H1 2025.

Following major investments through the Greater Houston Resiliency Initiative (GHRI), CenterPoint Energy, Inc. delivered tangible improvements in service quality. From January 1 through June 30, 2025, customers in the Houston area experienced a 45% reduction in the duration of outages compared to the same period in 2024. This was achieved by completing critical actions like installing over 32,000+ storm-resilient poles and adding more than 5,150+ automation devices capable of self-healing. The overall projected annual reduction from these efforts is more than 125 million customer outage minutes.

The company is making its infrastructure tougher against the elements. That's the real win.

Enabling economic growth by supporting 50% peak load increase by 2031.

The economic engine of the Greater Houston area is demanding significantly more power, and CenterPoint Energy, Inc. is positioning its grid to handle it. The utility forecasts that peak electric load demand in its Houston electric service territory will increase by nearly 50%, reaching almost 31 GWs, by 2031. This anticipated growth, driven by data centers and industrial activity, is directly supported by a massive capital plan. The company has a customer-driven capital investment plan of a record $65 billion through 2035 to facilitate this expansion.

Here's a quick look at the scale of this commitment:

Customer affordability via disciplined O&M cost management.

Despite significant capital spending, CenterPoint Energy, Inc. emphasizes managing day-to-day costs to keep bills reasonable. In the third quarter of 2025, the company reported that a significant reduction in Operations & Maintenance (O&M) expenses contributed $0.12 per share of favorability compared to Q3 2024. Furthermore, the company is actively working to offset rate changes; for instance, it planned to offset October rate increases for average residential customers through bill adjustments and credits by December 2025. This disciplined approach helps keep bill inflation below peers, which supports favorable regulatory outcomes.

Sustainable energy solutions and infrastructure modernization.

Modernization is central to the long-term value proposition, tying reliability to sustainability goals. The company is executing a strategy to build what it calls "the most resilient coastal grid" in the US. Specific modernization efforts include:

• Replacing 1,100 poles with fiberglass ones rated for 132 mph winds by 2025.
• Undergrounding over 400 miles of power lines as part of resiliency efforts.
• Elevating 99% of substations above the 500-year floodplain in certain resiliency plans.
• Working to eliminate the remaining cast-iron pipe in its natural gas system.
• Setting a goal to reduce operational greenhouse gas (GHG) emissions by 70% by 2035, relative to 2005 levels.

Finance: draft 13-week cash view by Friday.

CenterPoint Energy, Inc. (CNP) - Canvas Business Model: Customer Relationships

You're looking at how CenterPoint Energy, Inc. manages the relationship with its massive customer base. Since this is a regulated utility, the relationship is fundamentally long-term and sticky, but recent weather events have put a huge emphasis on service quality and digital interaction.

Regulated, long-term service contracts with minimal churn risk

Honestly, the contracts here aren't the typical subscription model; they are dictated by regulatory frameworks, which means churn is practically non-existent for the core delivery service. CenterPoint Energy, Inc. serves more than 7 million metered customers across Indiana, Minnesota, Ohio, and Texas as of June 30, 2025. The relationship is defined by the obligation to serve within specific geographic footprints. For instance, in its Texas electric territory, CenterPoint Energy supports about 2.8 million metered customers.

The stability of this relationship is underpinned by the regulatory recovery mechanisms that allow for capital investment recovery. For example, constructive settlements on four rate cases in 2024 represented 80% of the enterprise rate base, giving clear sight to financial execution over the next four years.

High-touch outage response and emergency services

When the lights go out, the relationship becomes intensely high-touch, and this is where CenterPoint Energy is pouring significant capital to rebuild trust. Following severe weather, the response metrics are what customers remember. Through the first half of 2025, customers in Greater Houston saw a 45% reduction in the duration of outages compared to the same period in 2024. This translates to more than 20 million less outage minutes per month during that period. The Greater Houston Resiliency Initiative (GHRI) is driving this, including installing over 32,000 stronger, storm-resilient poles.

Emergency response is immediate, even for smaller incidents. For example, a vehicle striking a natural gas regulator station near Carlos, Minnesota, on December 4, 2025, caused an outage for approximately 525 customers, requiring crews to work quickly to restore service and relight appliances at each location. To support this, nearly 1,000 CenterPoint employees completed 17,000 hours of emergency response training.

• Reduction in outage minutes (H1 2025 vs. H1 2024): 45%
• Fewer vegetation-related outages (H1 2025 vs. 2024): Approx. 33%
• GHRI Poles installed: Over 32,000
• Emergency Response Training Hours: 17,000

Digital self-service and smart meter data access

The utility is pushing customers toward digital channels for routine interactions, which is a big shift from the traditional service model. You can use their online services to pay your bill and manage communication preferences. The smart meter rollout is a key part of this digital relationship. In 2024 alone, CenterPoint Energy installed more than 250,000 gas smart meters, bringing the total installed base to over 890,000 meters since the program started. For the electric side in Indiana, a limited rollout of remote reconnection and disconnection capabilities for most customers started in early November 2025.

The goal of these digital tools is to provide more timely updates. For instance, CenterPoint launched a new, cloud-based Outage Tracker that gives real-time updates in both English and Spanish. This helps manage expectations when a major event, like the August 4, 2025, storm in Houston that impacted 36,933 customers, occurs.

Direct engagement with regulators on Integrated Resource Plans (IRP)

The long-term service contract quality is negotiated directly with regulators, making engagement on the Integrated Resource Plan (IRP) a critical relationship touchpoint. CenterPoint Energy's Indiana electric utility submitted its 2025 IRP, a 20-year generation roadmap, in late 2025. This plan was developed with input from four public meetings. The primary focus for the 150,000 electric customers in southwestern Indiana is affordability, with the plan designed to minimize any rate increase in the near term, anticipating no potential rate adjustments until 2029 or later. This contrasts with the Systemwide Resiliency Plan (SRP), which is expected to reduce storm-related outages by 1 billion minutes for its 2.8 million customers by 2029.

Finance: draft 13-week cash view by Friday.

CenterPoint Energy, Inc. (CNP) - Canvas Business Model: Channels

You're looking at how CenterPoint Energy, Inc. gets its services-the wires and pipes-to the people who pay the bills. It's a mix of massive physical infrastructure and specific regulatory interfaces, especially in Texas.

Physical electric transmission and distribution network.

CenterPoint Energy, Inc. owns and maintains the wires, poles, and associated electric infrastructure. This network primarily serves the Greater Houston area and southwestern Indiana. As of September 30, 2025, the company owned approximately $45 billion in assets across its operations. The Houston Electric business is seeing massive growth forecasts, with peak load demand expected to double to nearly 42GWs by the middle of the next decade. To support this, CenterPoint Energy, Inc. announced a record 10-year capital investment plan of $65 billion through 2035. For the first quarter of 2025, the company increased its 10-year capital investment plan to $48.5 billion through 2030.

Physical natural gas distribution pipeline network.

The natural gas distribution network is extensive. CenterPoint Energy, Inc. owns approximately 84,000 miles of distribution and transmission mains across its service territory. This makes it a top three natural gas utility by miles of main pipelines. The company completed the sale of its Louisiana and Mississippi natural gas local distribution company businesses in early 2025. As of December 31, 2024, CenterPoint Energy, Inc. served over 3.9 million natural gas customers across its footprint.

• Total Natural Gas Metered Customers Served (Across Footprint): Over 3.7 million as of April 2025.
• Natural Gas Distribution and Transmission Mains: Approximately 84,000 miles.
• Divested Customers (LA/MS LDC sale): Approximately 380,000 metered customers.

Retail Electric Providers (REPs) as the customer interface in Texas.

In Texas, CenterPoint Energy, Inc. operates as the Transmission and Distribution Service Provider (TDSP), meaning it owns and maintains the wires and poles, but it does not sell the electricity commodity to the end-user in most of its Texas territory. That function is handled by Retail Electric Providers (REPs). CenterPoint Energy, Inc. is the only investor-owned electric and gas utility based in Texas. The company serves approximately 7 million total metered customers across Indiana, Minnesota, Ohio, and Texas as of late 2025. Customer satisfaction scores for CenterPoint Energy, Inc. as a TDSP were 30 points higher than the market average on residential customer engagement in a 2016 study, which is the latest comparative data available.

Customer service centers and digital self-service portals.

The delivery of service is channeled through direct interaction points, which are increasingly digital. In the first half of 2025, customers in the Greater Houston area experienced significant reliability improvements, including a 45% reduction in individual customer outage duration compared to 2024. This focus on infrastructure resilience is a key channel for customer satisfaction. While specific digital portal adoption rates for 2025 aren't public, the company's focus on grid modernization is a direct channel to improve service delivery. CenterPoint Energy, Inc. - Midwest scored 738 on the Brand Trust Index, and CenterPoint Energy, Inc. - South scored 726 in a July 2025 business customer engagement study.

The company has approximately 8,300 employees working to support these operations as of September 30, 2025. That's the team connecting the pipes and wires to the people.

CenterPoint Energy, Inc. (CNP) - Canvas Business Model: Customer Segments

You're looking at the core of CenterPoint Energy, Inc.'s regulated utility business-who they serve and where the growth is coming from as of late 2025. The customer base is geographically diverse but strategically concentrated in high-growth areas, primarily Texas.

CenterPoint Energy, Inc. serves approximately 7 million metered customers across Indiana, Minnesota, Ohio, and Texas as of September 30, 2025. This total is split between their electric and natural gas operations, with over 95% of earnings coming from these regulated segments.

The Residential consumers form the bedrock of the customer base. In the critical Houston Electric service territory, CenterPoint Energy serves about 2.8 million electric customers, with roughly 900,000 of those being residential within the Houston metropolitan area alone. The company saw a 2% year-over-year increase in residential customers as of Q2 2025, supporting steady utility demand.

The Commercial and Industrial (C&I) clients represent the high-growth engine, especially in Texas. This segment is driving significant capital investment. For instance, industrial throughput in the Houston Electric division was up over 17% quarter-over-quarter compared to the same period in 2024, showing incredible demand acceleration in Q3 2025.

CenterPoint Energy, Inc.'s role in the Texas market means it directly serves customers who interact with Retail Electric Providers (REPs). CenterPoint Energy, as the transmission and distribution utility in the Greater Houston area, does not generate or purchase power on behalf of these customers; rather, it manages the physical wires and meters for all end-users, including those served by REPs. The company is the only investor-owned electric and gas utility based in Texas.

The most significant near-term driver for capital expenditure is the massive influx from data centers and energy-intensive industries. CenterPoint Energy is forecasting electric peak load demand in its Houston Electric business to increase by nearly 50% to almost 31 GW by 2031, up from 21 GW in 2024. This growth is directly attributed to sectors like data centers, energy refining, and exports.

Here's a quick look at the customer distribution across the key service areas as of late 2025, reflecting the strategic focus post-divestiture:

The strategic shift is clear: Texas, particularly the Houston Electric division, is receiving the lion's share of investment, allocated about 70% of the go-forward capital plan. This focus supports the massive load growth projections.

The customer base across the four core states can be summarized by the utility type:

• Texas: Home to the primary electric utility operations, focused on the Greater Houston area.
• Indiana: Serves electric customers in Southwestern Indiana and natural gas customers.
• Minnesota: Primarily a natural gas distribution market.
• Ohio: Natural gas distribution customers, though the Ohio electric unit was slated for sale, with proceeds expected by 2026.

The company completed the sale of its Louisiana and Mississippi natural gas LDC businesses in early 2025, which impacted approximately 380,000 metered customers, allowing for this renewed focus.

Finance: draft 13-week cash view by Friday.

CenterPoint Energy, Inc. (CNP) - Canvas Business Model: Cost Structure

You're looking at the core expenses CenterPoint Energy, Inc. (CNP) faces to keep the lights on and the gas flowing across its service territories. For a massive utility, the cost structure is dominated by massive, long-term asset investment and the ongoing operational costs of running that infrastructure.

The single largest planned outlay is Capital expenditures (CapEx), primarily for Transmission & Distribution (T&D) system upgrades and expansion. CenterPoint Energy expects total capital expenditures for 2025 to be approximately $5.3 billion. This is part of a much larger, multi-year plan, with the company having expanded its 10-year plan to $52.5 billion through 2030 or even $65 billion through 2035.

Financing these enormous asset bases means interest expense on debt financing is a constant, significant drag on earnings. For instance, in the second quarter of 2025, the reported interest expense reached $191 million. This reflects the cumulative debt pressures on the balance sheet.

Day-to-day running costs, categorized as Operations and Maintenance (O&M) expenses, are substantial and subject to weather and proactive work. In the first quarter of 2025, operational costs rose to $747 million, partly due to accelerated vegetation management ahead of hurricane season.

The cost of energy itself, covering fuel and purchased power costs for generation assets, is highly variable. In Q1 2025, these costs surged nearly 28% to $1 billion. For the second quarter of 2025 specifically, fuel and purchased power expenses were $300 million, up from $233 million year-over-year.

Finally, regulatory compliance and depreciation expenses are baked into the model. While total depreciation isn't explicitly stated for 2025, the regulatory environment directly impacts cost recovery. Following severe weather events in early 2025, CenterPoint Energy Houston Electric filed a settlement in August 2025 to recover approximately $1.1 billion in distribution-related costs.

Here's a quick look at how some of these major cost components stacked up in recent 2025 reporting periods:

You should keep an eye on the drivers behind these expenses, as they signal future investment needs and regulatory risk exposure. The key cost pressures CenterPoint Energy is managing include:

• Massive T&D investment driven by load growth, especially from data centers.
• Increased financing costs due to debt levels supporting capital programs.
• Volatile fuel and purchased power expenses, as seen in the Q1 surge.
• Proactive O&M spending, like accelerated vegetation management.

Finance: draft 13-week cash view by Friday.

CenterPoint Energy, Inc. (CNP) - Canvas Business Model: Revenue Streams

CenterPoint Energy, Inc.'s revenue streams are heavily weighted toward its regulated utility operations across its service territories in Texas, Indiana, Minnesota, and Ohio.

The overall financial outlook for 2025 suggests a revenue rebound. Total projected revenue for CenterPoint Energy, Inc. in 2025 is estimated at $9.1 billion, representing a 4.8% rise over the prior year. This growth is supported by a record 10-year capital investment plan of $65 billion announced in September 2025, targeting 11% annual growth in the regulated rate base through 2030.

The primary revenue drivers, grounded in rate-based returns from regulated assets, are detailed below:

The regulated Electric T&D revenue (rate-based returns) is largely captured by the Houston Electric segment, which manages power transmission and distribution in the Houston area and accounts for nearly half of the total revenue. The Southern Indiana Gas and Electric Company (SIGECO) also contributes to this regulated electric revenue base.

For the regulated Natural Gas Distribution revenue, the CenterPoint Energy Resources Corp (CERC) segment, serving customers across the Midwest and South, is expected to see its revenues climb to $4 billion.

Regarding Power generation and wholesale sales revenue (Indiana), this activity is associated with SIGECO. SIGECO owns electric generation assets and optimizes those assets in the wholesale power market. The total projected revenue for SIGECO in 2025 is $826 million.

CenterPoint Energy, Inc. also generates revenue from ancillary services. The company provides home repair protection plans to natural gas customers in Indiana, Mississippi, Ohio, and Texas through a third party. Specific 2025 revenue figures for these energy-related services and home repair plans were not explicitly quantified in the latest public guidance.

The forward-looking financial expectation for the year is reflected in the Non-GAAP EPS guidance:

• Non-GAAP EPS guidance range for 2025 is set at $1.75 to $1.77 per share.
• This guidance, at the midpoint, represents a 9% growth over the full-year 2024 non-GAAP EPS.

The company's Q3 2025 non-GAAP EPS was reported at $0.50 per diluted share.