SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): OCTOBER 11, 2002
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CENTERPOINT ENERGY HOUSTON ELECTRIC, LLC
(FORMERLY RELIANT ENERGY, INCORPORATED)
(Exact name of registrant as specified in its charter)
TEXAS 1-3187 22-3865106
(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
1111 LOUISIANA
HOUSTON, TEXAS 77002
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (713) 207-3000
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ITEM 5. OTHER EVENTS.
On October 11, 2002, CenterPoint Energy, Inc., the parent company of
CenterPoint Energy Houston Electric, LLC, announced that it had successfully
negotiated new, one-year credit facilities totaling $4.7 billion to replace
similar facilities that expired on October 10, 2002. The new facilities consist
of a $3.85 billion, 364-day bank credit facility at CenterPoint Energy, Inc. and
an $850 million, 364-day bank credit facility at CenterPoint Energy Houston
Electric, LLC. For additional information regarding the new facilities, please
refer to CenterPoint Energy, Inc.'s press release attached to this report as
Exhibit 99.1 which is incorporated by reference herein.
FORWARD-LOOKING STATEMENTS
Some of the statements in the press release incorporated by reference herein
are "forward-looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995. Actual results may differ materially from those
expressed or implied by these statements. In some cases, you can identify our
forward-looking statements by the words "anticipates," "believes," "continue,"
"could," "estimates," "expects," "forecast," "goal," "intends," "may,"
"objective," "plans," "potential," "predicts," "projection," "should," "will,"
or other similar words.
We have based our forward-looking statements on our management's beliefs and
assumptions based on information available at the time the statements are made.
We caution you that assumptions, beliefs, expectations, intentions and
projections about future events may and often do vary materially from actual
results. Therefore, actual results may differ materially from those expressed or
implied by our forward-looking statements. You should not place undue reliance
on forward-looking statements. Each forward-looking statement speaks only as of
the date of the particular statement, and we undertake no obligation to update
or revise publicly any forward-looking statements.
The following list identifies some of the factors that could cause actual
results to differ from those expressed or implied by our forward-looking
statements:
o state, federal and international legislative and regulatory actions or
developments, including deregulation, re-regulation and restructuring of the
electric utility industry, changes in or application of laws or regulations
applicable to other aspects of our business and actions with respect to,
among other things:
o approval of stranded costs;
o allowed rates of return;
o rate structures;
o recovery of investments; and
o operation and construction of facilities;
o non-payment for our services due to financial distress of our customers;
o the successful and timely completion of our capital projects;
o industrial, commercial and residential growth in our service territory and
changes in market demand and demographic patterns;
o changes in business strategy or development plans;
o unanticipated changes in interest rates or rates of inflation;
o unanticipated changes in operating expenses and capital expenditures;
o weather variations and other natural phenomena;
o commercial bank and financial market conditions, our access to capital,
receipt of certain approvals under the 1935 Act and the results of our
financing and refinancing efforts, including availability of funds in the
debt capital markets;
o actions by rating agencies;
o legal and administrative proceedings and settlements;
o changes in tax laws;
o significant changes in our relationship with our employees, including the
availability of qualified personnel and the potential adverse effects if
labor disputes or grievances were to occur;
o significant changes in critical accounting policies material to us;
o acts of terrorism or war, including any direct or indirect effect on our
business resulting from terrorist attacks such as occurred on September 11,
2001 or any similar incidents or responses to those incidents;
o the availability and price of insurance;
o the outcome of the pending securities lawsuits against Reliant Energy,
Incorporated and Reliant Resources, Inc.;
o the outcome of the SEC investigation relating to the treatment in our
consolidated financial statements of certain activities of Reliant Resources,
Inc.;
o the reliability of the systems, procedures and other infrastructure necessary
to operate the retail electric business in our service territory, including
the systems owned and operated by the independent system operator in the
Electric Reliability Council of Texas, Inc.;
o political, legal, regulatory and economic conditions and developments in the
United States; and
o other factors discussed in CenterPoint Energy, Inc.'s and CenterPoint Energy
Houston Electric, LLC's filings with the SEC.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits.
The following exhibit is filed herewith:
99.1 Press Release issued October 11, 2002 regarding new credit
facilities.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
CENTERPOINT ENERGY HOUSTON ELECTRIC, LLC
Date: October 11, 2002 By: /s/ James S. Brian
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James S. Brian
Senior Vice President and
Chief Accounting Officer
EXHIBIT INDEX
Exhibit No. Description
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99.1 Press Release issued October 11, 2002 regarding new credit
facilities.