~~Weather Hedge (CenterPoint Energy and CERC)~~

CenterPoint Energy and CERC have historically entered into partial weather hedges for certain Natural Gas jurisdictions and electric operations’ Texas service territory to mitigate the impact of fluctuations from normal weather. CenterPoint Energy and CERC remain exposed to some weather risk as a result of the partial hedges. For more information about weather hedges, see Note 7(a) to the Interim Condensed Financial Statements.

Collection of Receivables from REPs (CenterPoint Energy and Houston Electric)

Houston Electric’s receivables from the distribution of electricity are collected from REPs that supply the electricity Houston Electric distributes to their customers. Before conducting business, a REP must register with the PUCT and must meet certain financial qualifications. Nevertheless, adverse economic conditions, the February 2021 Winter Storm Event, structural problems in the market served by ERCOT or financial difficulties of one or more REPs could impair the ability of these REPs to pay for Houston Electric’s services or could cause them to delay such payments. Houston Electric depends on these REPs to remit payments on a timely basis, and any delay or default in payment by REPs could adversely affect Houston Electric’s cash flows. In the event of a REP default, Houston Electric’s tariff provides a number of remedies, including the option for Houston Electric to request that the PUCT suspend or revoke the certification of the REP. Applicable regulatory provisions require that customers be shifted to another REP or a provider of last resort if a REP cannot make timely payments. However, Houston Electric remains at risk for payments related to services provided prior to the shift to the replacement REP or the provider of last resort. If a REP were unable to meet its obligations, it could consider, among various options, restructuring under the bankruptcy laws, in which event such REP might seek to avoid honoring its obligations and claims might be made against Houston Electric involving payments it had received from such REP. If a REP were to file for bankruptcy, Houston Electric may not be successful in recovering accrued receivables owed by such REP that are unpaid as of the date the REP filed for bankruptcy. However, PUCT regulations authorize utilities, such as Houston Electric, to defer bad debts resulting from defaults by REPs for recovery in future rate cases, subject to a review of reasonableness and necessity.

Other Factors that Could Affect Cash Requirements

In addition to the above factors, the Registrants’ liquidity and capital resources could also be negatively affected by:

•~~further reductions in the cash distributions we receive from Enable;~~

•cash collateral requirements that could exist in connection with certain contracts, including weather hedging arrangements, and natural gas purchases, natural gas price and natural gas storage activities of CenterPoint Energy’s and CERC’s Natural Gas reportable segment;

•acceleration of payment dates on certain gas supply contracts, under certain circumstances, as a result of increased natural gas prices ~~including as a result of the February 2021 Winter Storm Event,~~ and concentration of natural gas suppliers (CenterPoint Energy and CERC);

•increased costs related to the acquisition of natural gas ~~including as a result of the February 2021 Winter Storm Event~~ (CenterPoint Energy and CERC);

•increases in interest expense in connection with debt refinancings and borrowings under credit facilities or term loans or the use of alternative sources of ~~financings due to the effects of COVID-19 and the February 2021 Winter Storm Event on capital and other financial markets;~~financings;

•increases in commodity prices;

•various legislative or regulatory actions, including recovery of costs such as those associated with the ~~outcome~~mobile generation leases;

•incremental collateral, if any, that may be required due to regulation of ~~litigation, including litigation related to the February 2021 Winter Storm Event;~~derivatives (CenterPoint Energy);

•the ability of REPs, including REP affiliates of NRG and Vistra Energy Corp., to satisfy their obligations to CenterPoint Energy and Houston Electric, including the negative impact on such ability related to ~~COVID-19 and~~ the February 2021 Winter Storm Event;

•~~various legislative or regulatory actions;~~

•~~incremental collateral, if any, that may be required due to regulation of derivatives (CenterPoint Energy);~~

•slower customer payments and increased write-offs of receivables due to higher natural gas prices, changing economic conditions ~~COVID-19~~ or the February 2021 Winter Storm Event (CenterPoint Energy and CERC);

•the satisfaction of any obligations pursuant to guarantees;

•contributions to pension and postretirement benefit plans;

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•restoration costs and revenue losses resulting from future natural disasters such as hurricanes and the timing of recovery of such restoration costs; and

•various other risks identified in “Risk Factors” in Item 1A of Part I of the Registrants’ combined 20202 201 Form 10-K. and in Item 1A of Part II of this combined Form 10-Q.

Certain Contractual Limits on Our Ability to Issue Securities and Borrow Money

~~Houston Electric has contractually agreed that it will not issue additional first mortgage bonds, subject to certain exceptions. Additionally, certain~~Certain provisions in note purchase agreements relating to debt issued by VUHI have the effect of restricting the amount of additional first mortgage bonds issued by SIGECO.

For information about the total debt to capitalization financial covenants in the Registrants’ and certain of CenterPoint Energy’s subsidiaries’ revolving credit facilities, see Note 1211 to the Interim Condensed Financial Statements.

CRITICAL ACCOUNTING POLICIES

A critical accounting policy is one that is both important to the presentation of the Registrants’ financial condition and results of operations and requires management to make difficult, subjective or complex accounting estimates. An accounting estimate is an approximation made by management of a financial statement element, item or account in the financial statements.

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Accounting estimates in the Registrants’ historical consolidated financial statements measure the effects of past business transactions or events, or the present status of an asset or liability. Additionally, different estimates that the Registrants could have used or changes in an accounting estimate that are reasonably likely to occur could have a material impact on the presentation of their financial condition, results of operations or cash flows. The circumstances that make these judgments difficult, subjective and/or complex have to do with the need to make estimates about the effect of matters that are inherently uncertain. Estimates and assumptions about future events and their effects cannot be predicted with certainty. The Registrants base their estimates on historical experience and on various other assumptions that they believe to be reasonable under the circumstances, the results of which form the basis for making judgments. These estimates may change as new events occur, as more experience is acquired, as additional information is obtained and as the Registrants’ operating environment changes.

There have been no significant changes in our critical accounting policies during the three months ended March 31, 2022, as compared to the critical accounting policies disclosed in Management’s Discussion and Analysis of Financial Condition and Results of Operations included in the Registrants’ combined 2021 Form 10-K.

Item 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Houston Electric and CERC meet the conditions specified in General Instruction H(1)(a) and (b) to Form 10-Q and are therefore permitted to use the reduced disclosure format for wholly-owned subsidiaries of reporting companies. Accordingly, Houston Electric and CERC have omitted from this report the information called for by Item 3 (Quantitative and Qualitative Disclosures About Market Risk) of Part I of the Form 10-Q.

Interest Rate Risk (CenterPoint Energy)

As of March 31, ~~2021,~~2022, CenterPoint Energy had outstanding long-term debt, lease obligations and obligations under its ZENS that subject it to the risk of loss associated with movements in market interest rates.

CenterPoint Energy’s floating rate obligations aggregated ~~$3.4~~$2.1 billion and ~~$2.4~~$4.5 billion as of March 31, ~~2021~~2022 and December 31, ~~2020,~~2021, respectively. If the floating interest rates were to increase by 10% from March 31, ~~2021~~2022 rates, CenterPoint Energy’s combined interest expense would increase by approximately ~~$1.7~~$2 million annually.

As of March 31, ~~2021~~2022 and December 31, ~~2020,~~2021, CenterPoint Energy had outstanding fixed-rate debt (excluding indexed debt securities) aggregating ~~$12.5~~$11.8 billion and ~~$11.1~~$11.7 billion, respectively, in principal amount and having a fair value of ~~$13.5~~$12.0 billion and ~~$12.9~~$13.0 billion, respectively. Because these instruments are fixed-rate, they do not expose CenterPoint Energy to the risk of loss in earnings due to changes in market interest rates. However, the fair value of these instruments would increase by approximately ~~$376~~$443 million if interest rates were to decline by 10% from levels at March 31, ~~2021.~~2022. In general, such an increase in fair value would impact earnings and cash flows only if CenterPoint Energy were to reacquire all or a portion of these instruments in the open market prior to their maturity.

In general, such an increase in fair value would impact earnings and cash flows only if CenterPoint Energy were to reacquire all or a portion of these instruments in the open market prior to their maturity.

The ZENS obligation is bifurcated into a debt component and a derivative component. The debt component of ~~$13~~$9 million as of March 31, ~~2021~~2022 was a fixed-rate obligation and, therefore, did not expose CenterPoint Energy to the risk of loss in earnings due to changes in market interest rates. However, the fair value of the debt component would increase by approximately $2$1 million if interest rates were to decline by 10% from levels at March 31, ~~2021.~~2022. Changes in the fair value of the derivative component, a ~~$927~~$797 million recorded liability at March 31, ~~2021,~~2022, are recorded in CenterPoint Energy’s Condensed Statements of Consolidated Income and, therefore, it is exposed to changes in the fair value of the derivative component as a result of changes in the underlying risk-free interest rate. If the risk-free interest rate were to increase by 10% from March 31, ~~2021~~2022 levels, the fair value of the derivative component liability would decrease by approximately $1 million, which would be recorded as an unrealized gain in CenterPoint Energy’s Condensed Statements of Consolidated Income.

Equity Market Value Risk (CenterPoint Energy)

CenterPoint Energy is exposed to equity market value risk through its ownership of 10.2 million shares of AT&T Common, ~~and~~ 0.9 million shares of Charter Common and 2.5 million shares of WBD Common, which CenterPoint Energy holds to facilitate its ability to meet its obligations under the ZENS. See Note 1110 to the Interim Condensed Financial Statements for a discussion of CenterPoint Energy’s ZENS obligation. Changes in the fair value of the ZENS-Related Securities held by CenterPoint Energy are expected to substantially offset changes in the fair value of the derivative component of the ZENS. A

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decrease of 10% from the March 31, ~~2021~~2022 aggregate market value of these shares would result in a net loss of less than $1 million, which would be recorded as a loss in CenterPoint Energy’s Condensed Statements of Consolidated Income.

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Commodity Price Risk From Non-Trading Activities (CenterPoint Energy)

CenterPoint Energy’s regulated operations in Indiana have limited exposure to commodity price risk for transactions involving purchases and sales of natural gas, coal and purchased power for the benefit of retail customers due to current state regulations, which, subject to compliance with those regulations, allow for recovery of the cost of such purchases through natural gas and fuel cost adjustment mechanisms. CenterPoint Energy’s utility natural gas operations in Indiana have regulatory authority to lock in pricing for up to 50% of annual natural gas purchases using arrangements with an original term of up to 10 years. This authority has been utilized to secure fixed price natural gas using both physical purchases and financial derivatives. As of March 31, ~~2021,~~2022, the recorded fair value of non-trading energy derivative ~~liabilities~~assets was $7$39 million for CenterPoint Energy’s utility natural gas operations in ~~Indiana, which is offset by a regulatory asset.~~Indiana.

Although CenterPoint Energy’s regulated operations are exposed to limited commodity price risk, natural gas and coal prices have other effects on working capital requirements, interest costs, and some level of price-sensitivity in volumes sold or delivered. Constructive regulatory orders, such as those authorizing lost margin recovery, other innovative rate designs and recovery of unaccounted for natural gas and other natural gas-related expenses, also mitigate the effect natural gas costs may have on CenterPoint Energy’s financial condition. In 2008, the PUCO approved an exit of the merchant function in CenterPoint Energy’s Ohio natural gas service territory, allowing Ohio customers to purchase substantially all natural gas directly from retail marketers rather than from CenterPoint Energy.

Item 4.CONTROLS AND PROCEDURES

In accordance with Exchange Act Rules 13a-15 and 15d-15, the Registrants carried out separate evaluations, under the supervision and with the participation of each company’s management, including the principal executive officer and principal financial officer, of the effectiveness of the disclosure controls and procedures as of the end of the period covered by this report. Based on those evaluations, the principal executive officer and principal financial officer, in each case, concluded that the disclosure controls and procedures were effective as of March 31, ~~2021~~2022 to provide assurance that information required to be disclosed in the reports filed or submitted under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms and such information is accumulated and communicated to management, including the principal executive officer and principal financial officer, as appropriate to allow timely decisions regarding disclosure.

There has been no change in the Registrants’ internal controls over financial reporting that occurred during the three months ended March 31, ~~2021~~2022 that has materially affected, or is reasonably likely to materially affect, the Registrants’ internal controls over financial reporting.

PART II. OTHER INFORMATION

Item 1.LEGAL PROCEEDINGS

For a description of certain legal and regulatory proceedings, please read Note ~~14(d)~~13(d) to the Interim Condensed Financial Statements and “Management’s Discussion and Analysis of Financial Condition and Results of Operations — Liquidity and Capital Resources — Future Sources and Uses of Cash” and “— Regulatory Matters,” each of which is incorporated herein by reference. See also “Business — Regulation” and “— Environmental Matters” in Item 1 and “Legal Proceedings” in Item 3 of the Registrants’ combined ~~2020~~2021 Form 10-K.

Item 1A.RISK FACTORS

~~There~~See below the new risk factor affecting CenterPoint Energy’s and Houston Electric’s businesses, in addition to those risk factors discussed in “Risk Factors” in Item 1A of Part I of the combined 2021 Form 10-K, which could materially affect the Registrants’ financial condition or future results. Except for the updates below, there have been no material changes from the risk factors disclosed in the Registrants’ combined ~~2020~~2021 Form 10-K.

Increases in the cost or reduction in supply of solar energy system components due to tariffs or trade restrictions imposed by the U.S. government may have an adverse effect on our business, financial condition and results of operations.

China is a major producer of solar cells and other solar products. Certain solar cells, modules, laminates and panels from China are subject to various antidumping and countervailing duty rates, depending on the exporter supplying the product,

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imposed by the U.S. government as a result of determinations that the U.S. was materially injured as a result of such imports being sold at less than fair value and subsidized by the Chinese government. In March 2022, the DOC announced that it would initiate an investigation into whether imports of solar cells and panels produced in Cambodia, Malaysia, Thailand and Vietnam are circumventing rules, such as anti-dumping and countervailing duties, intended to impose a tariff on imports of solar cells and panels manufactured in China. If an affirmative finding is made by the DOC, it could impose duties on imports of solar cells and panels from Cambodia, Malaysia, Thailand and Vietnam with both forward-looking and retroactive application. If enacted, these or similar duties could put upward pressure on prices of these solar energy products, which may reduce our ability to acquire these items in a timely and cost-efficient manner. If we are unable to secure such solar energy products in a timely and cost-efficient manner, we may be forced to delay, downsize and/or cancel solar projects and we may not be able to procure the resources needed to fully execute on our ten-year capital plan or achieve our net zero emissions goals. Additionally, delays or cancellations by developers of third-party solar power facilities expected to interconnect with CenterPoint Energy’s and Houston Electric’s system may have adverse impacts, such as delayed or reduced potential future revenues.We cannot predict what additional actions the U.S. government may adopt with respect to tariffs or other trade regulations in the future or what actions may be taken by other countries in retaliation for such measures. If an affirmative finding is made by the DOC or other additional measures are imposed, our business, financial condition and results of operations may be adversely affected.

Item 5.OTHER INFORMATION

None.

Item 6.EXHIBITS

Exhibits filed herewith are designated by a cross (†); all exhibits not so designated are incorporated by reference to a prior filing as indicated. Agreements included as exhibits are included only to provide information to investors regarding their terms. Agreements listed below may contain representations, warranties and other provisions that were made, among other things, to provide the parties thereto with specified rights and obligations and to allocate risk among them, and no such agreement should be relied upon as constituting or providing any factual disclosures about the Registrants, any other persons, any state of affairs or other matters.

Pursuant to Item 601(b)(4)(iii)(A) of Regulation S-K, the Registrants have not filed as exhibits to this combined Form 10-Q certain long-term debt instruments, including indentures, under which the total amount of securities authorized does not exceed 10% of the total assets of the Registrants and its subsidiaries on a consolidated basis. The Registrants hereby agree to furnish a copy of any such instrument to the SEC upon request.

Exhibit
Number Description Report or Registration
Statement SEC File or
Registration
Number Exhibit
Reference CenterPoint Energy Houston Electric CERC
2.1*
Agreement and Plan of Merger, dated as of April 21, 2018, by and among Vectren Corporation, CenterPoint Energy, Inc. and Pacer Merger Sub, Inc.
CenterPoint Energy’s Form 8-K dated April 21, 2018 1-31447 2.1 x
2.2*
Securities Purchase Agreement, dated as of February 3, 2020, by and among Vectren Utility Services, Inc., PowerTeam Services, LLC and, solely for purposes of Section 10.17 of the Securities Purchase Agreement, Vectren Corporation
CenterPoint Energy’s Form 8-K dated February 3, 2020 1-31447 x
2.3*
Equity Purchase Agreement, dated as of February 24, 2020, by and between CERC Corp. and Athena Energy Services Buyer, LLC
CenterPoint Energy’s Form 8-K dated February 24, 2020 1-31447 x x
†2.4*
Asset Purchase Agreement, by and between CenterPoint Energy Resources Corp. and Southern Col Midco, LLC, dated as of April 29, 2021
x x
3.1
Restated Articles of Incorporation of CenterPoint Energy
CenterPoint Energy’s Form 8-K dated July 24, 2008 1-31447 3.2 x
3.2
Restated Certificate of Formation of Houston Electric
Houston Electric’s Form 10-Q for the quarter ended June 30, 2011 1-3187 3.1 x
3.3
Certificate of Incorporation of RERC Corp.

CERC Form 10-K for the year ended December 31, 1997 1-13265 3(a)(1) x
3.4
Certificate of Merger merging former NorAm Energy Corp. with and into HI Merger, Inc. dated August 6, 1997
CERC Form 10-K for the year ended December 31, 1997 1-13265 3(a)(2) x
3.5
Certificate of Amendment changing the name to Reliant Energy Resources Corp.
CERC Form 10-K for the year ended December 31, 1998 1-13265 3(a)(3) x
3.6
Certificate of Amendment changing the name to CenterPoint Energy Resources Corp.
CERC Form 10-Q for the quarter ended June 30, 2003 1-13265 3(a)(4) x
3.7
Third Amended and Restated Bylaws of CenterPoint Energy
CenterPoint Energy’s Form 8-K dated February 21, 2017 1-31447 3.1 x
3.8
Amended and Restated Limited Liability Company Agreement of Houston Electric
Houston Electric’s Form 10-Q for the quarter ended June 30, 2011 1-3187 3.2 x
3.9
Bylaws of RERC Corp.
CERC Form 10-K for the year ended December 31, 1997 1-13265 3(b) x

~~Table of Contents~~

Exhibit
Number Description Report or Registration
Statement SEC File or
Registration
Number Exhibit
Reference CenterPoint Energy Houston Electric CERC
3.10
Statement of Resolutions Deleting Shares Designated Series A Preferred Stock of CenterPoint Energy
CenterPoint Energy’s Form 10-K for the year ended December 31, 2011 1-31447 3(c) x
3.11
Statement of Resolution Establishing Series of Shares Designated Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock of CenterPoint Energy
CenterPoint Energy’s Form 8-K dated August 22, 2018 1-31447 3.1 x
3.12
Statement of Resolution Establishing Series of Shares designated 7.00% Series B Mandatory Convertible Preferred Stock of CenterPoint Energy
CenterPoint Energy’s Form 8-K dated September 25, 2018 1-31447 3.1 x
3.13
Statement of Resolution Establishing Series of Shares designated Series C Mandatory Convertible Preferred Stock of CenterPoint Energy, Inc., filed with the Secretary of State of the State of Texas and effective May 7, 2020
CenterPoint Energy’s Form 8-K dated May 6, 2020
1-31447 3.1 x
4.1
Form of CenterPoint Energy Stock Certificate
CenterPoint Energy’s Registration Statement on Form S-4 3-69502 4.1 x
4.2
Form of Certificate representing the Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock of CenterPoint Energy
CenterPoint Energy’s Form 8-K dated August 22, 2018 1-31447 4.1 x
4.3
Form of Certificate representing the 7.00% Series B Mandatory Convertible Preferred Stock of CenterPoint Energy (included as Exhibit A to Exhibit 3.12)
CenterPoint Energy’s Form 8-K dated September 25, 2018 1-31447 4.1 x
4.4
Deposit Agreement, dated as of October 1, 2018, among CenterPoint Energy and Broadridge Corporate Issuer Solutions, Inc., as Depositary, and the holders from time to time of the Depositary Receipts described therein
CenterPoint Energy’s Form 8-K dated September 25, 2018 1-31447 4.2 x
4.5
Form of Depositary Receipt for the Depositary Shares (included as Exhibit A to Exhibit 4.4)
CenterPoint Energy’s Form 8-K dated September 25, 2018 1-31447 4.3 x
4.6
$2,400,000,000 Amended and Restated Credit Agreement dated as of February 4, 2021 among CenterPoint Energy, as Borrower, JPMorgan Chase Bank, N.A., as Administrative Agent, the financial institutions as bank parties thereto and the other parties thereto
CenterPoint Energy’s Form 8-K dated February 4, 2021 1-31447 4.1 x
4.7
$300,000,000 Credit Agreement dated as of February 4, 2021 among Houston Electric, as Borrower, Mizuho Bank, Ltd., as Administrative Agent, the financial institutions as bank parties thereto and the other parties thereto
CenterPoint Energy’s Form 8-K dated February 4, 2021 1-31447 4.2 x x
4.8
$900,000,000 Credit Agreement dated as of February 4, 2021 among CERC Corp., as Borrower, Wells Fargo Bank, National Association, as Administrative Agent, the financial institutions as bank parties thereto and the other parties thereto
CenterPoint Energy’s Form 8-K dated February 4, 2021 1-31447 4.3 x x

~~Table of Contents~~

Exhibit
Number Description Report or Registration
Statement SEC File or
Registration
Number Exhibit
Reference CenterPoint Energy Houston Electric CERC
4.9
$400,000,000 Credit Agreement dated as of February 4, 2021 among VUHI, as Borrower, Indiana Gas, SIGECO and VEDO, as guarantors, Bank of America, N.A., as Administrative Agent, the financial institutions as bank parties thereto and the other parties thereto , Inc., as Borrower, Indiana Gas Company, Inc., Southern Indiana Gas and Electric Company and Vectren Energy Delivery of Ohio, Inc. as guarantors, Bank of America, N.A., as Administrative Agent, the financial institutions as bank parties thereto and the other parties thereto
CenterPoint Energy’s Form 8-K dated February 4, 2021 1-31447 4.4 x
4.10
$1,000,000,000 Term Loan Agreement, dated as of May 15, 2019, among CenterPoint Energy, as Borrower, Mizuho Bank, Ltd., as Administrative Agent and Lead Arranger, and the banks named therein
CenterPoint Energy’s Form 8-K dated May 15, 2019 1-31447 4.1 x
4.11 First Amendment to Term Loan Agreement, dated as of April 26, 2021, by and among CenterPoint Energy, as Borrower, Mizuho Bank, Ltd., as Administrative Agent, and the banks named therein CenterPoint Energy’s Form 8-K dated April 26, 2021 1-31447 4.1 x
4.12
Preferred Stock Purchase Agreement, by and among CenterPoint Energy, Inc., Elliott International, L.P., and Elliott Associates, L.P., dated May 6, 2020
CenterPoint Energy’s Form 8-K dated May 6, 2020
1-31447 4.1 x
4.13
Preferred Stock Purchase Agreement, by and among CenterPoint Energy, Inc., BEP Special Situations 2 LLC and BEP Special Situations IV LLC, dated May 6, 2020
CenterPoint Energy’s Form 8-K dated May 6, 2020
1-31447 4.2 x
4.14
Common Stock Purchase Agreement, by and among CenterPoint Energy, Inc. and each investor identified on Schedule A thereto, dated May 6, 2020
CenterPoint Energy’s Form 8-K dated May 6, 2020
1-31447 4.3 x
4.15
Common Stock Purchase Agreement, by and among CenterPoint Energy, Inc. and each investor identified on Schedule A thereto, dated May 6, 2020
CenterPoint Energy’s Form 8-K dated May 6, 2020
1-31447 4.4 x
4.16
Common Stock Purchase Agreement, by and among CenterPoint Energy, Inc. and each investor identified on Schedule A thereto, dated May 6, 2020
CenterPoint Energy’s Form 8-K dated May 6, 2020
1-31447 4.5 x
4.17
Indenture, dated as of February 1, 1998, between Reliant Energy Resources Corp. and Chase Bank of Texas, National Association, as Trustee
CERC’s Form 8-K dated February 5, 1998 1-13265 4.1 x
†4.18
Supplemental Indenture No. 19 to Exhibit 4.16, dated as of March 2, 2021, providing for the issuance of CERC Corp.’s Floating Rate Senior Notes due 2023
x
†4.19
Supplemental Indenture No. 20 to Exhibit 4.16, dated as of March 2, 2021, providing for the issuance of CERC Corp.’s 0.70% Senior Notes due 2023
x

Exhibit
Number

Description

Report or Registration
Statement

SEC File or
Registration
Number

Exhibit
Reference

CenterPoint Energy

Houston Electric

CERC

2.1*

Agreement and Plan of Merger, dated as of April 21, 2018, by and among Vectren Corporation, CenterPoint Energy, Inc. and Pacer Merger Sub, Inc.

CenterPoint Energy’s Form 8-K dated April 21, 2018

1-31447

2.1

2.2*

Securities Purchase Agreement, dated as of February 3, 2020, by and among Vectren Utility Services, Inc., PowerTeam Services, LLC and, solely for purposes of Section 10.17 of the Securities Purchase Agreement, Vectren Corporation

CenterPoint Energy’s Form 8-K dated February 3, 2020

1-31447

2.1

2.3*

Equity Purchase Agreement, dated as of February 24, 2020, by and between CERC Corp. and Athena Energy Services Buyer, LLC

CenterPoint Energy’s Form 8-K dated February 24, 2020

1-31447

2.1

2.4*

Asset Purchase Agreement, by and between CenterPoint Energy Resources Corp. and Southern Col Midco, LLC, dated as of April 29, 2021

CenterPoint Energy’s Form 10-Q for the quarter ended March 31, 2021

1-31447

2.4

3.1

Restated Articles of Incorporation of CenterPoint Energy

CenterPoint Energy’s Form 8-K dated July 24, 2008

1-31447

3.2

Restated Certificate of Formation of Houston Electric

Houston Electric’s Form 10-Q for the quarter ended June 30, 2011

1-3187

3.1

3.3

Certificate of Incorporation of RERC Corp.

CERC Form 10-K for the year ended December 31, 1997

1-13265

3(a)(1)

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Exhibit
Number Description Report or Registration
Statement SEC File or
Registration
Number Exhibit
Reference CenterPoint Energy Houston Electric CERC
4.20
General Mortgage Indenture, dated as of October 10, 2002, between CenterPoint Energy Houston Electric, LLC and JPMorgan Chase Bank, as Trustee
Houston Electric’s Form 10-Q for the quarter ended September 30, 2002 1-3187 4(j)(1) x
4.21
Thirtieth Supplemental Indenture to Exhibit 4.19, dated as of March 11, 2021
Houston Electric’s Form 8-K dated March 8, 2021 1-3187 4.4 x
†4.22
Officer’s Certificate, dated as of March 11, 2021, setting forth the form, terms and provisions of the Series AE Bonds and the Series AF Bonds
x
10.1
Form of Restricted Stock Unit Award Agreement (Service-Based Vesting with Performance Goals)
CenterPoint Energy’s Form 10-K for the year ended December 31, 2020 1-31447 10(q)(12) x
10.2
Form of Restricted Stock Unit Award Agreement for CEO (Service-Based Vesting with Performance Goals)
CenterPoint Energy’s Form 10-K for the year ended December 31, 2020 1-31447 10(q)(13) x
10.3
Governance Arrangement Agreement, by and among CenterPoint Energy, Inc., Elliott International, L.P., and Elliott Associates, dated May 6, 2020
Form 8-K of CenterPoint Energy, Inc. dated May 6, 2020 1-31447 10.1 x
10.4
Support Agreement, dated as of February 16, 2021, by and among Energy Transfer LP, Elk Merger Sub LLC, Elk GP Merger Sub LLC, Enable Midstream Partners, LP, Enable GP, LLC and CenterPoint Energy
CenterPoint Energy’s Form 8-K dated February 16, 2021 1-31447 10.1 x
10.5
Form of Registration Rights Agreement, to be dated as of the Closing Date, by and among Energy Transfer LP and certain unitholders of Enable Midstream Partners, LP as set forth on Schedule I thereto
CenterPoint Energy’s Form 8-K dated February 16, 2021 1-31447 10.2 x
10.6
Change in Control Plan
CenterPoint Energy’s Form 8-K dated April 27, 2017 1-31447 10.1 x
10.7
First Amendment to Exhibit 10.6
CenterPoint Energy’s Form 10-K for the year ended December 31, 2020 1-31447 10(t)(2) x
†31.1.1
Rule 13a-14(a)/15d-14(a) Certification of David J. Lesar
x
†31.1.2
Rule 13a-14(a)/15d-14(a) Certification of Kenneth M. Mercado
x
†31.1.3
Rule 13a-14(a)/15d-14(a) Certification of Scott E. Doyle
x
†31.2.1
Rule 13a-14(a)/15d-14(a) Certification of Jason P. Wells
x
†31.2.2
Rule 13a-14(a)/15d-14(a) Certification of Jason P. Wells
x
†31.2.3
Rule 13a-14(a)/15d-14(a) Certification of Jason P. Wells
x
†32.1.1
Section 1350 Certification of David J. Lesar
x
†32.1.2
Section 1350 Certification of Kenneth M. Mercado
x
†32.1.3
Section 1350 Certification of Scott E. Doyle
x
†32.2.1
Section 1350 Certification of Jason P. Wells
x
†32.2.2
Section 1350 Certification of Jason P. Wells
x
†32.2.3
Section 1350 Certification of Jason P. Wells
x


Exhibit Number	Description	Report or Registration Statement	SEC File or Registration Number	Exhibit Reference	CenterPoint Energy	Houston Electric	CERC
3.4	Certificate of Merger merging former NorAm Energy Corp. with and into HI Merger, Inc. dated August 6, 1997	CERC Form 10-K for the year ended December 31, 1997	1-13265	3(a)(2)			x
3.5	Certificate of Amendment changing the name to Reliant Energy Resources Corp.	CERC Form 10-K for the year ended December 31, 1998	1-13265	3(a)(3)			x
3.6	Certificate of Amendment changing the name to CenterPoint Energy Resources Corp.	CERC Form 10-Q for the quarter ended June 30, 2003	1-13265	3(a)(4)			x
3.7	Third Amended and Restated Bylaws of CenterPoint Energy	CenterPoint Energy’s Form 8-K dated February 21, 2017	1-31447	3.1	x
3.8	Amended and Restated Limited Liability Company Agreement of Houston Electric	Houston Electric’s Form 10-Q for the quarter ended June 30, 2011	1-3187	3.2		x
3.9	Bylaws of RERC Corp.	CERC Form 10-K for the year ended December 31, 1997	1-13265	3(b)			x
3.10	Statement of Resolutions Deleting Shares Designated Series A Preferred Stock of CenterPoint Energy	CenterPoint Energy’s Form 10-K for the year ended December 31, 2011	1-31447	3(c)	x
3.11	Statement of Resolution Establishing Series of Shares Designated Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock of CenterPoint Energy	CenterPoint Energy’s Form 8-K dated August 22, 2018	1-31447	3.1	x
3.12	Statement of Resolution Establishing Series of Shares designated 7.00% Series B Mandatory Convertible Preferred Stock of CenterPoint Energy	CenterPoint Energy’s Form 8-K dated September 25, 2018	1-31447	3.1	x
3.13	Statement of Resolution Establishing Series of Shares designated Series C Mandatory Convertible Preferred Stock of CenterPoint Energy, Inc., filed with the Secretary of State of the State of Texas and effective May 7, 2020	CenterPoint Energy’s Form 8-K dated May 6, 2020	1-31447	3.1	x
4.1	Form of CenterPoint Energy Stock Certificate	CenterPoint Energy’s Registration Statement on Form S-4	3-69502	4.1	x
4.2	Form of Certificate representing the Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock of CenterPoint Energy	CenterPoint Energy’s Form 8-K dated August 22, 2018	1-31447	4.1	x
4.3	$2,400,000,000 Amended and Restated Credit Agreement dated as of February 4, 2021 among CenterPoint Energy, as Borrower, JPMorgan Chase Bank, N.A., as Administrative Agent, the financial institutions as bank parties thereto and the other parties thereto	CenterPoint Energy’s Form 8-K dated February 4, 2021	1-31447	4.1	x
4.4	$300,000,000 Credit Agreement dated as of February 4, 2021 among Houston Electric, as Borrower, Mizuho Bank, Ltd., as Administrative Agent, the financial institutions as bank parties thereto and the other parties thereto	CenterPoint Energy’s Form 8-K dated February 4, 2021	1-31447	4.2	x	x
4.5	$900,000,000 Credit Agreement dated as of February 4, 2021 among CERC Corp., as Borrower, Wells Fargo Bank, National Association, as Administrative Agent, the financial institutions as bank parties thereto and the other parties thereto	CenterPoint Energy’s Form 8-K dated February 4, 2021	1-31447	4.3	x		x

~~Table~~Tab le of Contents


Exhibit Number	Description	Report or Registration Statement	SEC File or Registration Number	Exhibit Reference	CenterPoint Energy	Houston Electric	CERC
4.6	$400,000,000 Credit Agreement dated as of February 4, 2021 among VUHI, as Borrower, Indiana Gas, SIGECO and VEDO, as guarantors, Bank of America, N.A., as Administrative Agent, the financial institutions as bank parties thereto and the other parties thereto , Inc., as Borrower, Indiana Gas Company, Inc., Southern Indiana Gas and Electric Company and Vectren Energy Delivery of Ohio, Inc. as guarantors, Bank of America, N.A., as Administrative Agent, the financial institutions as bank parties thereto and the other parties thereto	CenterPoint Energy’s Form 8-K dated February 4, 2021	1-31447	4.4	x
4.7	General Mortgage Indenture, dated as of October 10, 2002, between CenterPoint Energy Houston Electric, LLC and JPMorgan Chase Bank, as Trustee	Houston Electric’s Form 10-Q for the quarter ended September 30, 2002	1-3187	4(j)(1)		x
4.8	Ninth Supplemental Indenture to Exhibit 4.7 dated as of November 12, 2002	CenterPoint Energy’s Form 10-K for the year ended December 31, 2002	1-3187	4(k)(10)		x
4.9	Twentieth Supplemental Indenture to Exhibit 4.7 dated as of December 9, 2008	CenterPoint Energy’s Form 8-K dated January 9, 2009	1-3187	4.2		x
4.10	Thirty-First Supplemental Indenture to Exhibit 4 .7 , dated as of February 28, 2022	Houston Electric’s Form 8-K dated February 23, 2022	1-3187	4.4		x
†4.11	Officer’s Certificate, dated as of February 28, 2022, setting forth the form, terms and provisions of the Thirty-Third and Thirty-Fourth Series of General Mortgage Bonds					x
10.1	CenterPoint Energy, Inc. 2022 Long Term Incentive Plan	CenterPoint Energy’s Definitive Proxy Statement filed on March 11, 2022	1-31447	Appendix A	x
10.2	Form of Performance Award Agreement for 20XX-20XX Performance Cycle for the CEO under Exhibit 10.1	CenterPoint Energy’s Form 8-K dated April 22, 2022	1-31447	10.2	x
10.3	Form of Performance Award Agreement for 20XX-20XX Performance Cycle for officers and director employees under Exhibit 10.1	CenterPoint Energy’s Form 8-K dated April 22, 2022	1-31447	10.3	x
10.4	Form of Restricted Stock Unit Award Agreement under Exhibit 10.1	CenterPoint Energy’s Form 8-K dated April 22, 2022	1-31447	10.4	x
10.5	Form of Restricted Stock Unit Award Agreement for the CEO (with Performance Goals) under Exhibit 10.1	CenterPoint Energy’s Form 8-K dated April 22, 2022	1-31447	10.5	x
10.6	Form of Restricted Stock Unit Award Agreement (with Performance Goals) under Exhibit 10.1	CenterPoint Energy’s Form 8-K dated April 22, 2022	1-31447	10.6	x
10.7	Form of Restricted Stock Unit Award Agreement for Officers and Director Employees (with Performance Goals) under Exhibit 10.1	CenterPoint Energy’s Form 8-K dated April 22, 2022	1-31447	10.7	x
10.8	Form of Restricted Stock Unit Award Agreement for the CEO under Exhibit 10.1	CenterPoint Energy’s Form 8-K dated April 22, 2022	1-31447	10.8	x
10.9	Amended and Restated CenterPoint Energy 2005 Deferred Compensation Plan, effective January 1, 2009	CenterPoint Energy’s Form 10-Q for the quarter ended September 30, 2008	1-31447	10.1	x

Tab le of Contents

Exhibit
Number

Description

Report or Registration
Statement

SEC File or
Registration
Number

Exhibit
Reference

CenterPoint Energy

Houston Electric

CERC

10.10

First Amendment to Exhibit 10.9 effective March 1, 2022

CenterPoint Energy’s Form 8-K dated April 22, 2022

1-31447

10.10

†10.11

Second Amendment to Exhibit 10.9 effective May 1, 2022

10.12

CenterPoint Energy Benefit Restoration Plan, effective January 1, 2008

CenterPoint Energy’s Form 8-K dated December 22, 2008

1-31447

10.1

10.13

First Amendment to Exhibit 10.12, effective as of February 25, 2011

CenterPoint Energy’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2011

1-31447

10.4

†10.14

Partial Termination Amendment to Exhibit 10.12, effective as of March 1, 2022

10.15

CenterPoint Energy Savings Restoration Plan, effective as of January 1, 2008

CenterPoint Energy’s Form 8-K dated December 22, 2008

1-31447

10.3

10.16

First Amendment to Exhibit 10.15, effective as of February 25, 2011

CenterPoint Energy’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2011

1-31447

10.6

10.17

Second Amendment to Exhibit 10.15, effective as of January 1, 2020

CenterPoint Energy’s Form 8-K dated December 9, 2019

1-31447

10.1

†10.18

Partial Termination Amendment to Exhibit 10.15, effective as of March 1, 2022

†31.1.1

Rule 13a-14(a)/15d-14(a) Certification of David J. Lesar

†31.1.2

Rule 13a-14(a)/15d-14(a) Certification of Scott E. Doyle

†31.1.3

Rule 13a-14(a)/15d-14(a) Certification of Scott E. Doyle

†31.2.1

Rule 13a-14(a)/15d-14(a) Certification of Jason P. Wells

†31.2.2

Rule 13a-14(a)/15d-14(a) Certification of Jason P. Wells

†31.2.3

Rule 13a-14(a)/15d-14(a) Certification of Jason P. Wells

†32.1.1

Section 1350 Certification of David J. Lesar

†32.1.2

Section 1350 Certification of Scott E . Doyle

†32.1.3

Section 1350 Certification of Scott E. Doyle

†32.2.1

Section 1350 Certification of Jason P. Wells

†32.2.2

Section 1350 Certification of Jason P. Wells

†32.2.3

Section 1350 Certification of Jason P. Wells

†101.INS

Inline XBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document

†101.SCH

Inline XBRL Taxonomy Extension Schema Document

†101.CAL

Inline XBRL Taxonomy Extension Calculation Linkbase Document

†101.DEF

Inline XBRL Taxonomy Extension Definition Linkbase Document

†101.LAB

Inline XBRL Taxonomy Extension Labels Linkbase Document

Tab le of Contents

Exhibit
Number

Description

Report or Registration
Statement

SEC File or
Registration
Number

Exhibit
Reference

CenterPoint Energy

Houston Electric

CERC

~~†101.INS~~

~~Inline XBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document~~

~~†101.SCH~~

~~Inline XBRL Taxonomy Extension Schema Document~~

~~†101.CAL~~

~~Inline XBRL Taxonomy Extension Calculation Linkbase Document~~

~~†101.DEF~~

~~Inline XBRL Taxonomy Extension Definition Linkbase Document~~

~~†101.LAB~~

~~Inline XBRL Taxonomy Extension Labels Linkbase Document~~

†101.PRE

Inline XBRL Taxonomy Extension Presentation Linkbase Document

†104

Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)


*			Schedules to this agreement have been omitted pursuant to Item 601(b)(2) of Regulation S-K. A copy of any omitted schedules will be furnished supplementally to the SEC upon request; provided, however, that the parties may request confidential treatment pursuant to Rule 24b-2 of the Exchange Act for any document so furnished.

7880

~~Table~~Tab le of Contents

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, each registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.


			CENTERPOINT ENERGY, INC.
			CENTERPOINT ENERGY HOUSTON ELECTRIC, LLC
			CENTERPOINT ENERGY RESOURCES CORP.


By:			/s/ ~~Kristie~~Stacey L. ~~Colvin~~Peterson
			~~Kristie~~Stacey L. ~~Colvin~~Peterson
			Senior Vice President and Chief Accounting Officer

Date: May ~~6, 2021~~3, 2022

7981


Texas			74-0694415
(State or other jurisdiction of incorporation or organization)			(I.R.S. Employer Identification No.)

1111 Louisiana	Houston	Texas	77002
(Address of Principal Executive Offices)			(Zip Code)


Texas			22-3865106
(State or other jurisdiction of incorporation or organization)			(I.R.S. Employer Identification No.)

1111 Louisiana	Houston	Texas	77002
(Address of Principal Executive Offices)			(Zip Code)


Delaware			76-0511406
(State or other jurisdiction of incorporation or organization)			(I.R.S. Employer Identification No.)

1111 Louisiana	Houston	Texas	77002
(Address of Principal Executive Offices)			(Zip Code)


Securities registered pursuant to Section 12(b) of the Act:
Registrant	Title of each class	Trading Symbol(s)	Name of each exchange on which registered
CenterPoint Energy, Inc.	Common Stock, $0.01 par value	CNP	The New York Stock Exchange
			Chicago Stock Exchange, Inc.
CenterPoint Energy ~~Inc.~~	~~Depositary Shares for 1/20 of 7.00% Series B Mandatory Convertible Preferred Stock, $0.01 par value~~	~~CNP/PB~~	~~The New York Stock Exchange~~
~~CenterPoint Energy Houston Electric, LLC~~	~~9.15% First Mortgage Bonds due 2021~~	~~n/a~~	~~The New York Stock Exchange~~
~~CenterPoint Energy~~ Houston Electric, LLC	6.95% General Mortgage Bonds due 2033	n/a	The New York Stock Exchange
CenterPoint Energy Resources Corp.	6.625% Senior Notes due 2037	n/a	The New York Stock Exchange


PART I.	FINANCIAL INFORMATION
Item 1.	Financial Statements	1
	CenterPoint Energy, Inc. Financial Statements (unaudited)	1




	CenterPoint Energy Houston Electric, LLC Financial Statements (unaudited)	7




	CenterPoint Energy Resources Corp. Financial Statements (unaudited)	13





	Combined Notes to Interim Condensed Financial Statements (unaudited)	19
	(1) Background and Basis of Presentation	19
	(2) New Accounting Pronouncements	20
	(3) Divestitures	20
	(4) Revenue Recognition and Allowance for Credit Losses	2224
	(5) Employee Benefit Plans	2527
	(6) Regulatory ~~Accounting~~Matters	2628
	(7) Derivative Instruments	2829
	(8) Fair Value Measurements	30
	~~(9) Unconsolidated Affiliates~~	31
	~~(10)~~(9 ) Goodwill and Other Intangibles	3432
	~~(11)~~ (1 0 ) Equity Securities and Indexed Debt Securities (ZENS) ~~and Securities Related to ZENS~~	3533
	~~(12)~~(1 1 ) Short-term Borrowings and Long-term Debt	3635
	~~(13)~~(1 2 ) Income Taxes	37
	(1 3 ) Commitments and Contingencies	38
	~~(14) Commitments and Contingencies~~(1 4 ) Earnings Per Share	3942
	~~(15) Earnings Per Share~~(1 5 ) Reportable Segments	44
	~~(16) Reportable Segments~~(1 6 ) Supplemental Disclosure of Cash Flow Information	4546
	~~(17) Supplemental Disclosure of Cash Flow Information~~(1 7 ) Related Party Transactions	47
	~~(18) Related Party Transactions~~(1 8 ) Equity	48
	(19) ~~Equity~~Leases	49
	~~(20)~~(20 ) Subsequent Events	5051
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	5153
	Recent Events	5153
	Consolidated Results of Operations	5253
	Results of Operations by Reportable Segment	5354
	Certain Factors Affecting Future Earnings	6062
	Liquidity and Capital Resources	6163
Item 3.	Quantitative and Qualitative Disclosures about Market Risk	7274
Item 4.	Controls and Procedures	7375

PART II.	OTHER INFORMATION
Item 1.	Legal Proceedings	7375
Item 1A.	Risk Factors	7375

Item 6.	Exhibits	7476
	Signatures	7981


(Mark One)
☑			QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934


☐			TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
			FOR THE TRANSITION PERIOD FROM __________________ TO __________________


CenterPoint Energy, Inc.	~~580,495,853~~629,448,787	shares of common stock outstanding, excluding 166 shares held as treasury stock
CenterPoint Energy Houston Electric, LLC	1,000	common shares outstanding, all held by Utility Holding, LLC, a wholly-owned subsidiary of CenterPoint Energy, Inc.
CenterPoint Energy Resources Corp.	1,000	shares of common stock outstanding, all held by Utility Holding, LLC, a wholly-owned subsidiary of CenterPoint Energy, Inc.


GLOSSARY
ACE						Affordable Clean Energy



AMA						Asset Management Agreement
~~AMS~~						~~Advanced Metering System~~
~~APSC~~						~~Arkansas Public Service Commission~~
~~ARAM~~						~~Average rate assumption method~~
ARO						Asset retirement obligation

ARP						Alternative revenue program
ARPA						American Rescue Plan Act of 2021
ASC						Accounting Standards Codification
Asset Purchase Agreement						Asset Purchase Agreement, dated as of April 29, 2021, by and between CERC Corp. and Southern Col Midco ~~LLC, a Delaware limited liability company and an affiliate of Summit Utilities, Inc.~~

~~ASU~~AT&T						~~Accounting Standards Update~~AT&T Inc.
AT&T Common						AT&T ~~Inc.~~ common stock

Bcf						Billion cubic feet
Board						Board of Directors of CenterPoint Energy, Inc.
Bond Companies						~~Bond Company III,~~ Bond Company IV and Restoration Bond Company, each a wholly-owned, bankruptcy remote entity formed solely for the purpose of purchasing and owning transition or system restoration property through the issuance of Securitization Bonds
Bond Company ~~III~~						~~CenterPoint Energy Transition Bond Company III, LLC, a wholly-owned subsidiary of Houston Electric~~
~~Bond Company~~ IV						CenterPoint Energy Transition Bond Company IV, LLC, a wholly-owned subsidiary of Houston Electric
BTA						Build Transfer Agreement

Capital Dynamics						Capital Dynamics, Inc.
CARES Act						Coronavirus Aid, Relief, and Economic Security Act

CCR						Coal Combustion Residuals


CEIP						CenterPoint Energy Intrastate Pipelines, LLC, a wholly-owned subsidiary of CERC Corp.
CenterPoint Energy						CenterPoint Energy, Inc., and its subsidiaries
CERC						CERC Corp., together with its subsidiaries
CERC Corp.						CenterPoint Energy Resources Corp.
CES						CenterPoint Energy Services, Inc. (now known as Symmetry Energy Solutions, LLC), previously a wholly-owned subsidiary of CERC Corp.
Charter Common						Charter Communications, Inc. common stock
CIP						Conservation Improvement Program

~~CNG~~						~~Compressed Natural Gas~~
~~CNP Midstream~~						~~CenterPoint Energy Midstream, Inc., a wholly-owned subsidiary of CenterPoint Energy~~

CODM						Chief Operating Decision Maker, who is each Registrant’s Chief Operating Executive
Common Stock						CenterPoint Energy, Inc. common stock, par value $0.01 per share
Compensation Committee						Compensation Committee of the Board
COVID-19						Novel coronavirus disease 2019, and any mutations or variants thereof, and related global outbreak that was subsequently declared a pandemic by the World Health Organization
COVID-19 ERP						COVID-19 Electricity Relief Program
CPCN						Certificate of Public Convenience and Necessity
CPP						Clean Power Plan
CSIA						Compliance and System Improvement Adjustment
DCRF						Distribution Cost Recovery Factor
DOC						U.S. Department of Commerce
DRR						Distribution Replacement Rider
DSMA						Demand Side Management Adjustment


ECA						Environmental Cost Adjustment


~~GLOSSARY~~
EDIT						Excess deferred income taxes
EECR						Energy Efficiency Cost Recovery
EECRF						Energy Efficiency Cost Recovery Factor
EEFC						Energy Efficiency Funding Component
EEFR						Energy Efficiency Funding Rider
~~ELG~~						~~Effluent Limitation Guidelines~~


GLOSSARY
Elk GP Merger Sub						Elk GP Merger Sub LLC, a Delaware limited liability company and a direct wholly-owned subsidiary of Energy Transfer
Elk Merger Sub						Elk Merger Sub LLC, a Delaware limited liability company and a direct wholly-owned subsidiary of Energy Transfer
Enable						Enable Midstream Partners, LP
Enable Common Units						Enable common units, representing limited partner interests in Enable
Enable GP						Enable GP, LLC, Enable’s general partner
Enable Merger						The ~~proposed~~ merger of Elk Merger Sub with and into Enable and the merger of Elk GP Merger Sub with and into Enable GP, in each case on the terms and subject to the conditions set forth in the Enable Merger Agreement, with Enable and Enable GP surviving as wholly-owned subsidiaries of Energy Transfer, which closed on December 2, 2021
Enable Merger Agreement						Agreement and Plan of Merger by and among Energy Transfer, Elk Merger Sub LLC, Elk GP Merger Sub, Enable, Enable GP and, solely for the purposes of Section 2.1(a)(i) therein, Energy Transfer GP, and solely for the purposes of Section 1.1(b)(i) therein, CenterPoint Energy
Enable Series A Preferred Units						Enable’s 10% Series A Fixed-to-Floating Non-Cumulative Redeemable Perpetual Preferred Units, representing limited partner interests in Enable
Energy Services						Offered competitive variable and fixed-priced physical natural gas supplies primarily to commercial and industrial customers and electric and natural gas utilities through CES and CEIP
Energy Services Disposal Group						Substantially all of the businesses within CenterPoint Energy’s and CERC’s Energy Services reporting unit that were sold under the Equity Purchase Agreement
Energy Systems Group						Energy Systems Group, LLC, a wholly-owned subsidiary of Vectren
Energy Transfer						Energy Transfer LP, a Delaware limited partnership
Energy Transfer Common Units						Energy Transfer common units, representing limited partner interests in Energy Transfer
Energy Transfer GP						LE GP, LLC, a Delaware limited liability company and sole general partner of Energy Transfer
Energy Transfer Series G Preferred Units						Energy Transfer Series G Fixed-Rate Reset Cumulative Redeemable Perpetual Preferred Units, representing limited partner interests in Energy Transfer
EPA						Environmental Protection Agency
Equity Purchase Agreement						Equity Purchase Agreement, dated as of February 24, 2020, by and between CERC Corp. and Symmetry Energy Solutions Acquisition, LLC (f/k/a Athena Energy Services Buyer, LLC)
ERCOT						Electric Reliability Council of Texas
~~ESG~~						~~Energy Systems Group, LLC, a wholly-owned subsidiary of Vectren~~
February 2021 Winter Storm Event						The extreme and unprecedented winter weather event in February 2021 (Winter Storm Uri) ~~resulting~~that resulted in electricity generation supply shortages, including in Texas, and natural gas supply shortages and increased wholesale prices of natural gas in the United States, primarily due to prolonged freezing temperatures
FERC						Federal Energy Regulatory Commission
Fitch						Fitch Ratings, Inc.
Form 10-Q						Quarterly Report on Form 10-Q
~~FRP~~						~~Formula Rate Plan~~


GHG						Greenhouse gases

GRIP						Gas Reliability Infrastructure Program
~~GSR~~						~~Gas Supply Rate~~
GWh						Gigawatt-hours
Houston Electric						CenterPoint Energy Houston Electric, LLC and its subsidiaries
IDEM						Indiana Department of Environmental Management


~~GLOSSARY~~
Indiana Electric						Operations of SIGECO’s electric transmission and distribution services, and includes its power generating and wholesale power operations
Indiana Gas						Indiana Gas Company, Inc., a wholly-owned subsidiary of Vectren
Indiana North						Gas operations of Indiana Gas
Indiana South						Gas operations of SIGECO


GLOSSARY
Indiana Utilities						The combination of Indiana Electric, Indiana North and Indiana South
~~Infrastructure Services~~						~~Provided underground pipeline construction and repair services through VISCO and its wholly-owned subsidiaries, Miller Pipeline, LLC and Minnesota Limited, LLC~~
~~Infrastructure Services Disposal Group~~						~~Businesses within the Infrastructure Services reporting unit that were sold under the Securities Purchase Agreement~~
Interim Condensed Financial Statements						Unaudited condensed consolidated interim financial statements and combined notes

IRP						Integrated Resource Plan
IRS						Internal Revenue Service
IURC						Indiana Utility Regulatory Commission
kV						~~Kilovolt~~


LIBOR						London Interbank Offered Rate
~~LNG~~						~~Liquefied Natural Gas~~
LPSC						Louisiana Public Service Commission
LTIP						Long-term Incentive Plan

Merger						The merger of Merger Sub with and into Vectren on the terms and subject to the conditions set forth in the Merger Agreement, with Vectren continuing as the surviving corporation and as a wholly-owned subsidiary of CenterPoint Energy, Inc.
Merger Agreement						Agreement and Plan of Merger, dated as of April 21, 2018, among CenterPoint Energy, Vectren and Merger Sub

Merger Sub						Pacer Merger Sub, Inc., an Indiana corporation and wholly-owned subsidiary of CenterPoint Energy
MES						CenterPoint Energy Mobile Energy Solutions, Inc. (now known as Mobile Energy Solutions, Inc.), previously a wholly-owned subsidiary of CERC Corp.
MGP						Manufactured gas plant
MISO						Midcontinent Independent System Operator
MLP						Master Limited Partnership

Moody’s						Moody’s Investors Service, Inc.
MPSC						Mississippi Public Service Commission
MPUC						Minnesota Public Utilities Commission

MW						~~Megawatts~~Megawatt
NERC						North American Electric Reliability Corporation

~~NGLs~~						~~Natural gas liquids~~
NOLs						Net operating losses
NRG						NRG Energy, Inc.


~~OCC~~						~~Oklahoma Corporation Commission~~
~~OGE~~						~~OGE Energy Corp.~~
~~PBRC~~						~~Performance Based Rate Change~~
Posey Solar						Posey Solar, LLC, a special purpose entity
PowerTeam Services						PowerTeam Services, LLC, a Delaware limited liability company, now known as Artera Services, LLC


PPA						Power Purchase Agreement
PRPs						Potentially responsible parties
PUCO						Public Utilities Commission of Ohio
PUCT						Public Utility Commission of Texas
Railroad Commission						Railroad Commission of Texas
RCRA						Resource Conservation and Recovery Act of 1976


~~GLOSSARY~~
Registrants						CenterPoint Energy, Houston Electric and CERC, collectively

REP						Retail electric provider
Restoration Bond Company						CenterPoint Energy Restoration Bond Company, LLC, a wholly-owned subsidiary of Houston Electric

ROE						Return on equity
ROU						Right of use
RRA						Rate Regulation Adjustment
RSP						Rate Stabilization Plan
S&P						S&P Global Ratings
Scope 1 emissions						Direct source of emissions from a company’s operations
Scope 2 emissions						Indirect source of emissions from a company’s energy usage
Scope 3 emissions						Indirect source of emissions from a company’s end-users


GLOSSARY
SEC						Securities and Exchange Commission
Securities Purchase Agreement						Securities Purchase Agreement, dated as of February 3, 2020, by and among Vectren Utility Services, Inc., PowerTeam Services and, solely for purposes of Section 10.17 of the Securities Purchase Agreement, Vectren
Securitization Bonds						Transition and system restoration bonds
Series A Preferred Stock						CenterPoint Energy’s Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Stock, par value $0.01 per share, with a liquidation preference of $1,000 per share
Series B Preferred Stock						CenterPoint Energy’s 7.00% Series B Mandatory Convertible Preferred Stock, par value $0.01 per share, with a liquidation preference of $1,000 per share

Series C Preferred Stock						CenterPoint Energy’s Series C Mandatory Convertible Preferred Stock, par value $0.01 per share, with a liquidation preference of $1,000 per share
SIGECO						Southern Indiana Gas and Electric Company, a wholly-owned subsidiary of Vectren

~~S&P~~Southern Col Midco						~~S&P Global Ratings~~Southern Col Midco, LLC, a Delaware limited liability company and an affiliate of Summit Utilities, Inc.
SRC						Sales Reconciliation Component

Symmetry Energy Solutions Acquisition						Symmetry Energy Solutions Acquisition, LLC, a Delaware limited liability company (f/k/a Athena Energy Services Buyer, LLC) and subsidiary of Energy Capital Partners, LLC
TBD						To be determined

TCJA						Tax reform legislation informally called the Tax Cuts and Jobs Act of 2017
TCOS						Transmission Cost of Service
TCRF						Transmission Cost Recovery Factor
TDSIC						Transmission, Distribution and Storage System Improvement Charge
TDU						Transmission and distribution utility


Tenaska						Tenaska Wind Holdings, LLC
Texas RE						Texas Reliability Entity
~~TOB~~						~~Tariffed On Bill~~
~~Utility Holding~~						~~Utility Holding, LLC, a wholly-owned subsidiary of CenterPoint Energy~~


Transition Services Agreement						Transition Services Agreement by and between CenterPoint Energy Service Company, LLC and Southern Col Midco
Vectren						Vectren Corporation, a wholly-owned subsidiary of CenterPoint Energy as of February 1, 2019
VEDO						Vectren Energy Delivery of Ohio, Inc., a wholly-owned subsidiary of Vectren
VIE						Variable interest entity
~~VISCO~~						~~Vectren Infrastructure Services Corporation, formerly a wholly-owned subsidiary of Vectren~~
Vistra Energy Corp.						Texas-based energy company focused on the competitive energy and power generation markets, whose major subsidiaries include Luminant and TXU Energy
VRP						Voluntary Remediation Program
VUHI						Vectren Utility Holdings, Inc., a wholly-owned subsidiary of Vectren


	Three Months Ended
	March 31,
			2021		2020
		(in millions)
Net Income (Loss)			$	363	$	(1,199)
Other comprehensive income (loss):
Adjustment to pension and other postretirement plans (net of tax of $-0- and $1)			2		1



Other comprehensive income (loss) from unconsolidated affiliates (net of tax of $-0- and $-0-)			1		(3)
Total			3		(2)
Comprehensive income (loss)			366		(1,201)
Income allocated to preferred shareholders			29		29
Comprehensive income (loss) available to common shareholders			$	337	$	(1,230)


	Three Months Ended
	March 31,
		2022		2021
		(in millions)
Net Income		$	531	$	363
Other comprehensive income:
Adjustment to pension and other postretirement plans (net of tax of $-0- and $-0-)		1		2

Reclassification of deferred loss from cash flow hedges realized in net income (net of tax of $-0- and $-0-)		1		—

Other comprehensive income from unconsolidated affiliates (net of tax of $-0- and $-0-)		—		1
Total		2		3
Comprehensive income		533		366
Income allocated to preferred shareholders		13		29
Comprehensive income available to common shareholders		$	520	$	337


		March 31, 2021		December 31, 2020			March 31, 2022		December 31, 2021
		(in millions)					(in millions)
ASSETS						ASSETS
Current Assets:	Current Assets:					Current Assets:
Cash and cash equivalents ($142 and $139 related to VIEs, respectively)		$	146	$	147
Investment in marketable securities		848		871
Accounts receivable ($24 and $23 related to VIEs, respectively), less allowance for credit losses of $65 and $52, respectively		780		676
Accrued unbilled revenues, less allowance for credit losses of $4 and $5, respectively		343		505
Cash and cash equivalents ($104 and $92 related to VIEs, respectively)						Cash and cash equivalents ($104 and $92 related to VIEs, respectively)	$	125	$	230
Investment in equity securities						Investment in equity securities	720		1,439

Accounts receivable ($29 and $29 related to VIEs, respectively), less allowance for credit losses of $39 and $44, respectively						Accounts receivable ($29 and $29 related to VIEs, respectively), less allowance for credit losses of $39 and $44, respectively	943		690
Accrued unbilled revenues, less allowance for credit losses of $2 and $6, respectively						Accrued unbilled revenues, less allowance for credit losses of $2 and $6, respectively	432		513

Natural gas and coal inventory	Natural gas and coal inventory	67		203		Natural gas and coal inventory	54		186
Materials and supplies	Materials and supplies	310		297		Materials and supplies	458		422

Non-trading derivative assets						Non-trading derivative assets	33		9
Taxes receivable	Taxes receivable	79		82		Taxes receivable	—		1

Prepaid expenses and other current assets ($16 and $15 related to VIEs, respectively)		646		139
Current assets held for sale						Current assets held for sale	—		2,338
Regulatory assets						Regulatory assets	1,323		1,395
Prepaid expenses and other current assets ($18 and $19 related to VIEs, respectively)						Prepaid expenses and other current assets ($18 and $19 related to VIEs, respectively)	100		132
Total current assets	Total current assets	3,219		2,920		Total current assets	4,188		7,355
Property, Plant and Equipment:	Property, Plant and Equipment:					Property, Plant and Equipment:
Property, plant and equipment	Property, plant and equipment	32,991		32,514		Property, plant and equipment	34,495		33,673
Less: accumulated depreciation and amortization	Less: accumulated depreciation and amortization	10,252		10,152		Less: accumulated depreciation and amortization	10,282		10,189
Property, plant and equipment, net	Property, plant and equipment, net	22,739		22,362		Property, plant and equipment, net	24,213		23,484
Other Assets:	Other Assets:					Other Assets:
Goodwill	Goodwill	4,697		4,697		Goodwill	4,294		4,294
Regulatory assets ($597 and $633 related to VIEs, respectively)		3,795		2,094
Regulatory assets ($372 and $420 related to VIEs, respectively)						Regulatory assets ($372 and $420 related to VIEs, respectively)	2,270		2,321

Non-trading derivative assets						Non-trading derivative assets	6		5

Investment in unconsolidated affiliates		853		783
Preferred units – unconsolidated affiliate		363		363


		March 31, 2021		December 31, 2020			March 31, 2022		December 31, 2021
		(in millions, except share amounts)					(in millions, except par value and shares)
LIABILITIES AND SHAREHOLDERS’ EQUITY						LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Liabilities:	Current Liabilities:					Current Liabilities:
Short-term borrowings	Short-term borrowings	$	0	$	24	Short-term borrowings	$	—	$	7
Current portion of VIE Securitization Bonds long-term debt	Current portion of VIE Securitization Bonds long-term debt	212		211		Current portion of VIE Securitization Bonds long-term debt	182		220
Indexed debt, net	Indexed debt, net	13		15		Indexed debt, net	9		10
Current portion of other long-term debt	Current portion of other long-term debt	1,563		1,669		Current portion of other long-term debt	1,582		308
Indexed debt securities derivative	Indexed debt securities derivative	927		953		Indexed debt securities derivative	797		903
Accounts payable	Accounts payable	797		853		Accounts payable	1,036		1,196

Taxes accrued	Taxes accrued	229		265		Taxes accrued	489		378
Interest accrued	Interest accrued	119		145		Interest accrued	116		136
Dividends accrued	Dividends accrued	0		136		Dividends accrued	—		131
Customer deposits	Customer deposits	120		119		Customer deposits	110		111
Non-trading derivative liabilities	Non-trading derivative liabilities	2		3		Non-trading derivative liabilities	1		2

Current liabilities held for sale						Current liabilities held for sale	—		562
Other current liabilities	Other current liabilities	344		432		Other current liabilities	283		323
Total current liabilities	Total current liabilities	4,326		4,825		Total current liabilities	4,605		4,287
Other Liabilities:	Other Liabilities:					Other Liabilities:
Deferred income taxes, net	Deferred income taxes, net	3,687		3,603		Deferred income taxes, net	3,951		3,904
Non-trading derivative liabilities	Non-trading derivative liabilities	14		27		Non-trading derivative liabilities	5		12
Benefit obligations	Benefit obligations	675		680		Benefit obligations	499		511
Regulatory liabilities	Regulatory liabilities	3,407		3,448		Regulatory liabilities	3,250		3,153

Other non-current liabilities	Other non-current liabilities	1,033		1,019		Other non-current liabilities	834		836
Total other liabilities	Total other liabilities	8,816		8,777		Total other liabilities	8,539		8,416
Long-term Debt:	Long-term Debt:					Long-term Debt:
VIE Securitization Bonds, net	VIE Securitization Bonds, net	499		536		VIE Securitization Bonds, net	317		317
Other long-term debt, net	Other long-term debt, net	13,549		10,985		Other long-term debt, net	11,789		15,241
Total long-term debt, net	Total long-term debt, net	14,048		11,521		Total long-term debt, net	12,106		15,558
Commitments and Contingencies (Note 14)		0		0
Commitments and Contingencies (Note 13)						Commitments and Contingencies (Note 13)	0		0
Temporary Equity (Note 18)						Temporary Equity (Note 18)	1		3
Shareholders’ Equity:	Shareholders’ Equity:					Shareholders’ Equity:
Cumulative preferred stock, $0.01 par value, 20,000,000 shares authorized, 2,402,400 shares outstanding, $2,402 liquidation preference (Note 19)		2,363		2,363
Common stock, $0.01 par value, 1,000,000,000 shares authorized, 551,865,588 shares and 551,355,861 shares outstanding, respectively		6		6
Cumulative preferred stock, $0.01 par value, 20,000,000 shares authorized, 800,000 shares and 800,000 shares outstanding, respectively, $800 and $800 liquidation preference, respectively (Note 18)						Cumulative preferred stock, $0.01 par value, 20,000,000 shares authorized, 800,000 shares and 800,000 shares outstanding, respectively, $800 and $800 liquidation preference, respectively (Note 18)	790		790


		Three Months Ended March 31,					Three Months Ended March 31,
		2021		2020			2022		2021
		(in millions)					(in millions)
Cash Flows from Operating Activities:	Cash Flows from Operating Activities:					Cash Flows from Operating Activities:
Net income (loss)		$	363	$	(1,199)
Net income						Net income	$	531	$	363

Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Adjustments to reconcile net income to net cash provided by operating activities:						Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	Depreciation and amortization	307		282		Depreciation and amortization	318		307

Amortization of deferred financing costs		7		7

Deferred income taxes	Deferred income taxes	66		(377)		Deferred income taxes	28		66

Goodwill impairment and loss from reclassification to held for sale		0		214
Goodwill impairment		0		185

Unrealized loss on marketable securities		23		144

Gain on divestitures						Gain on divestitures	(303)		—
Loss on equity securities						Loss on equity securities	17		23
Gain on indexed debt securities	Gain on indexed debt securities	(26)		(135)		Gain on indexed debt securities	(106)		(26)

Write-down of natural gas inventory		0		3
Equity in (earnings) losses of unconsolidated affiliates	Equity in (earnings) losses of unconsolidated affiliates	(108)		1,475		Equity in (earnings) losses of unconsolidated affiliates	—		(108)
Distributions from unconsolidated affiliates	Distributions from unconsolidated affiliates	39		70		Distributions from unconsolidated affiliates	—		39
Pension contributions	Pension contributions	(8)		(2)		Pension contributions	(2)		(8)
Changes in other assets and liabilities, excluding acquisitions:
Changes in other assets and liabilities:						Changes in other assets and liabilities:
Accounts receivable and unbilled revenues, net	Accounts receivable and unbilled revenues, net	29		236		Accounts receivable and unbilled revenues, net	(201)		29

Inventory	Inventory	99		110		Inventory	132		99
Taxes receivable	Taxes receivable	3		13		Taxes receivable	1		3
Accounts payable	Accounts payable	(55)		(192)		Accounts payable	(85)		(55)

Non-trading derivatives, net		(14)		(53)
Margin deposits, net		0		21
Interest and taxes accrued		(62)		(95)
Net regulatory assets and liabilities	Net regulatory assets and liabilities	(2,297)		(27)		Net regulatory assets and liabilities	135		(2,297)
Other current assets		0		(5)
Other current liabilities		(59)		(37)
Other non-current assets		0		19
Other non-current liabilities		17		1
Other, net		(5)		4
Other current assets and liabilities						Other current assets and liabilities	82		(121)
Other non-current assets and liabilities						Other non-current assets and liabilities	(25)		3
Other operating activities, net						Other operating activities, net	58		2

Net cash provided by (used in) operating activities	Net cash provided by (used in) operating activities	(1,681)		662		Net cash provided by (used in) operating activities	580		(1,681)
Cash Flows from Investing Activities:	Cash Flows from Investing Activities:					Cash Flows from Investing Activities:
Capital expenditures	Capital expenditures	(594)		(664)		Capital expenditures	(846)		(594)

Distributions from unconsolidated affiliate in excess of cumulative earnings		0		7

Proceeds from sale of marketable securities						Proceeds from sale of marketable securities	702		—
Proceeds from divestitures						Proceeds from divestitures	2,060		—

Other investing activities, net						Other investing activities, net	18		(10)

Other, net		(10)		3
Net cash provided by (used in) investing activities						Net cash provided by (used in) investing activities	1,934		(604)
Cash Flows from Financing Activities:						Cash Flows from Financing Activities:
Decrease in short-term borrowings, net						Decrease in short-term borrowings, net	(43)		—
Payment of obligation for finance lease						Payment of obligation for finance lease	(171)		—
Proceeds from (payments of) commercial paper, net						Proceeds from (payments of) commercial paper, net	(1,941)		38
Proceeds from long-term debt						Proceeds from long-term debt	792		2,795
Payments of long-term debt, including make-whole premiums						Payments of long-term debt, including make-whole premiums	(1,113)		(388)

Net cash used in investing activities		(604)		(654)
Cash Flows from Financing Activities:

Proceeds from (payments of) commercial paper, net		38		(828)
Proceeds from long-term debt		2,795		0
Payments of long-term debt		(388)		(63)
Borrowings from revolving credit facilities		0		1,050

Payment of debt issuance costs	Payment of debt issuance costs	(20)		0		Payment of debt issuance costs	(8)		(20)

Payment of dividends on Common Stock	Payment of dividends on Common Stock	(88)		(145)		Payment of dividends on Common Stock	(107)		(88)
Payment of dividends on Preferred Stock	Payment of dividends on Preferred Stock	(48)		(42)		Payment of dividends on Preferred Stock	(24)		(48)

Other, net		(4)		(4)
Other financing activities, net						Other financing activities, net	(6)		(4)

Net cash provided by (used in) financing activities	Net cash provided by (used in) financing activities	2,285		(32)		Net cash provided by (used in) financing activities	(2,621)		2,285
Net Decrease in Cash, Cash Equivalents and Restricted Cash	Net Decrease in Cash, Cash Equivalents and Restricted Cash	0		(24)		Net Decrease in Cash, Cash Equivalents and Restricted Cash	(107)		—
Cash, Cash Equivalents and Restricted Cash at Beginning of Period	Cash, Cash Equivalents and Restricted Cash at Beginning of Period	167		271		Cash, Cash Equivalents and Restricted Cash at Beginning of Period	254		167
Cash, Cash Equivalents and Restricted Cash at End of Period	Cash, Cash Equivalents and Restricted Cash at End of Period	$	167	$	247	Cash, Cash Equivalents and Restricted Cash at End of Period	$	147	$	167


	December 31, 2021
	CenterPoint Energy		CERC
	(in millions)
Receivables, net	$	46	$	46
Accrued unbilled revenues	48		48
Natural gas inventory	46		46
Materials and supplies	9		9
Property, plant and equipment, net	1,314		1,314
Goodwill (1)	398		144
Regulatory assets	471		471
Other	6		6
Total current assets held for sale	$	2,338	$	2,084

Short term borrowings (2)	$	36	$	36
Accounts payable	40		40
Taxes accrued	7		7

Customer deposits	12		12
Regulatory liabilities	365		365
Other	102		102
Total current liabilities held for sale	$	562	$	562


	Three Months Ended March 31, 2020
	CenterPoint Energy				CERC
	Infrastructure Services Disposal Group		Energy Services Disposal Group		Total		Energy Services Disposal Group
	(in millions)
Revenues	$	222	$	886	$	1,108	$	886
Expenses:
Non-utility cost of revenues	44		808		852		808
Operation and maintenance	163		20		183		20

Taxes other than income taxes	1		1		2		1
Total expenses	208		829		1,037		829


Income (loss) from Discontinued Operations before income taxes	14		57		71		57
Loss on classification to held for sale, net (1)	(96)		(138)		(234)		(132)
Income tax benefit	(5)		(12)		(17)		(11)
Net loss from Discontinued Operations	$	(77)	$	(69)	$	(146)	$	(64)


	Three Months Ended March 31,
	2022 (1)		2021
	(in millions)
Income from Continuing Operations Before Income Taxes	$	9	$	52


	Three Months Ended March 31, 2021
	Equity Method Investment in Enable
	(in millions)
Equity in earnings of unconsolidated affiliate, net	$	108
Income from discontinued operations before income taxes	108
Income tax expense	25
Net income from discontinued operations	$	83


	Three Months Ended March 31,
	2021
		Per Unit		Cash Distribution
		(in millions, except per unit amounts)
Enable Common Units		$	0.16525	$	39
Enable Series A Preferred Units		0.62500		9
Total CenterPoint Energy				$	48


	Three Months Ended March 31, 2021
	(in millions)
Natural gas expenses, includes transportation and storage costs	$	32


	December 2,
	2021
	(in millions)
Current assets	$	594
Non-current assets	11,227
Current liabilities	1,254
Non-current liabilities	3,281
Non-controlling interest	26
Preferred equity	362
Accumulated other comprehensive loss	(1)
Enable partners’ equity	6,899

Reconciliation of Investment in Enable:
CenterPoint Energy’s ownership interest in Enable partners’ equity	$	3,701
CenterPoint Energy’s basis difference	(2,732)

CenterPoint Energy��s equity method investment in Enable	$	969


	Three Months Ended March 31, 2021
		(in millions)
Operating revenues		$	970
Cost of sales, excluding depreciation and amortization		519
Depreciation and amortization		106

Operating income		206
Net income attributable to Enable Common Units		155


Reconciliation of Equity in Earnings, net:
CenterPoint Energy’s interest		$	83
Basis difference amortization (1)		25


CenterPoint Energy’s equity in earnings, net (2)		$	108


		Three Months Ended March 31, 2021									Three Months Ended March 31, 2022
		Electric		Natural Gas		Corporate and Other		Total			Electric		Natural Gas		Corporate and Other		Total
		(in millions)									(in millions)
Revenue from contracts	Revenue from contracts	$	833	$	1,655	$	53	$	2,541	Revenue from contracts	$	898	$	1,845	$	45	$	2,788
Other (1)	Other (1)	(3)		8		1		6		Other (1)	(5)		(21)		1		(25)

Total revenues	Total revenues	$	830	$	1,663	$	54	$	2,547	Total revenues	$	893	$	1,824	$	46	$	2,763


	Accounts Receivable		Other Accrued Unbilled Revenues		Contract Assets		Contract Liabilities
	(in millions)
Opening balance as of December 31, 2020	$	604	$	505	$	27	$	18
Closing balance as of March 31, 2021	675		343		23		23
Increase (decrease)	$	71	$	(162)	$	(4)	$	5


		Rolling 12 Months		Thereafter		Total		Rolling 12 Months		Thereafter		Total
		(in millions)								(in millions)
Revenue expected to be recognized on contracts in place as of March 31, 2021:
Revenue expected to be recognized on contracts in place as of March 31, 2022:									Revenue expected to be recognized on contracts in place as of March 31, 2022:

Corporate and Other	Corporate and Other	$	259	$	554	$	813		Corporate and Other	$	224	$	535	$	759
		$	259	$	554	$	813			$	224	$	535	$	759


	March 31, 2021						December 31, 2020
	CenterPoint Energy (1)		Houston Electric (2)		CERC (3)		CenterPoint Energy (1)		Houston Electric (2)		CERC (3)
	(in millions)
Allowed equity return not recognized	$	224	$	130	$	13	$	229	$	137	$	13


	March 31, 2022						December 31, 2021
	CenterPoint Energy (1)		Houston Electric (2)		CERC (3)		CenterPoint Energy (1)		Houston Electric (2)		CERC (3)
	(in millions)
Allowed equity return not recognized	$	195	$	95	$	16	$	199	$	100	$	16


		Derivative Liabilities Fair Value
	Balance Sheet Location	March 31, 2021		December 31, 2020




Derivatives not designated as hedging instruments:		(in millions)
Natural gas derivatives (1)	Current Liabilities: Non-trading derivative liabilities	$	2	$	3
Natural gas derivatives (1)	Other Liabilities: Non-trading derivative liabilities	5		7
Interest rate derivatives	Other Liabilities: Non-trading derivative liabilities	9		20
Indexed debt securities derivative (2)	Current Liabilities	927		953

Total		$	943	$	983


			Three Months Ended March 31,						Three Months Ended March 31,
		Income Statement Location		2021		2020			Income Statement Location	2022		2021
Derivatives not designated as hedging instruments:	Derivatives not designated as hedging instruments:			(in millions)				Derivatives not designated as hedging instruments:		(in millions)
Indexed debt securities derivative (1)	Indexed debt securities derivative (1)	Gain (loss) on indexed debt securities		$	26	$	135	Indexed debt securities derivative (1)	Gain on indexed debt securities	$	106	$	26

Total				$	26	$	135


	March 31, 2021						December 31, 2020
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets	(in millions)
Corporate equities	$	850	$	0	$	0	$	850	$	873	$	0	$	0	$	873
Investments, including money market funds (1)	43		0		0		43		43		0		0		43





Total assets	$	893	$	0	$	0	$	893	$	916	$	0	$	0	$	916
Liabilities
Indexed debt securities derivative	$	0	$	927	$	0	$	927	$	0	$	953	$	0	$	953
Interest rate derivatives	0		9		0		9		0		20		0		20
Natural gas derivatives	0		7		0		7		0		10		0		10



Total liabilities	$	0	$	943	$	0	$	943	$	0	$	983	$	0	$	983


	Three Months Ended March 31,
		2021		2020 (1)
		(in millions)
Enable		$	108	$	(1,475)

Total		$	108	$	(1,475)


	March 31, 2021
	Limited Partner Interest (1)		Common Units	Enable Series A Preferred Units (2)
CenterPoint Energy (3)	53.7	%	233,856,623	14,520,000
OGE	25.5	%	110,982,805	0
Public unitholders	20.8	%	91,007,338	0

Total units outstanding	100.0	%	435,846,766	14,520,000


	March 31, 2021
	Management Rights (1)		Incentive Distribution Rights (2)
CenterPoint Energy (3)	50	%	40	%
OGE	50	%	60	%