CENTERPOINT ENERGY INC (CNP)

CenterPoint Energy, Inc. is a public utility holding company whose operating subsidiaries own and operate electric transmission, distribution and generation facilities and natural gas distribution systems, filing this combined Form 10-K jointly with two of its subsidiaries, CenterPoint Energy Houston Electric, LLC and CenterPoint Energy Resources Corp. (CERC). Houston Electric provides electric transmission service within ERCOT and distribution service to retail electric providers (REPs) serving the Texas Gulf Coast/Houston area, serving nearly 2.86 million customers through 67 REPs, with no long-term customer contracts and revenue tied to delivered electricity volumes, which are seasonal. CERC Corp. directly owns and operates natural gas distribution systems in Minnesota and Texas, and indirectly (through Indiana Gas and CEOH) in Indiana and Ohio, while also operating pipeline interconnects via CEIP; combined, CERC's natural gas businesses serve about 3.9 million customers across these states, with CenterPoint Energy's total natural gas customer base (including SIGECO) reaching roughly 4.03 million.

SIGECO, another subsidiary, delivers electric and natural gas service in and near Evansville, Indiana, owns and operates generation assets (including coal-fired plants and renewable power purchase agreements for wind and solar), and participates in MISO wholesale power markets; its Indiana Electric segment served about 154,402 electric customers as of year-end 2025. The company's reportable segments are Electric, Natural Gas, and Corporate and Other, with Houston Electric and CERC each representing a single reportable segment. Recent portfolio changes include SIGECO's March 2025 acquisition of Posey Solar (a 191 MW solar project in Indiana) for about $357 million, CERC's March 2025 sale of its Louisiana and Mississippi natural gas distribution businesses for approximately $1.2 billion, and an October 2025 agreement to sell CEOH (its Ohio natural gas distribution business) for total consideration of about $2.62 billion, expected to close in Q4 2026.

Houston Electric also has agreements involving temporary emergency generation (TEEEF) units, including a June 2025 transaction releasing 15 large TEEEF units to serve the San Antonio area through ERCOT until March 2027, and a November 2025 proposal to release additional units and adjust related rates. Both Houston Electric and SIGECO utilize consolidated variable interest entities (VIEs) for securitization financing tied to transition, restoration, or other qualified costs, with related bonds repaid through customer charges. The company's principal executive offices are located in Houston, Texas, and it makes SEC filings and governance documents available on its website.