History of CenterPoint Energy in Timeline

CenterPoint Energy, Inc. is a Fortune 500 American utility company headquartered in Houston, Texas. It provides electric and natural gas services to customers across multiple states, including Indiana, Ohio, Louisiana, Minnesota, Mississippi, and Texas. Formerly known as Reliant Energy, NorAm Energy, Houston Industries, and HL&P, the company's headquarters is located in the CenterPoint Energy Tower in Downtown Houston.

2003: HL&P split into Reliant Energy, Texas Genco, and CenterPoint Energy

In 2003, Houston Lighting & Power (HL&P) was split into three separate companies: Reliant Energy, Texas Genco, and CenterPoint Energy, following the deregulation of the Texas electricity market.

December 15, 2004: Operation Under Various Names

Until December 15, 2004, CenterPoint Energy and its predecessors operated in its various markets under different names, which were used separately prior to Reliant Energy, and later in conjunction with the Reliant Energy and CenterPoint Energy names.

2004: Accounting errors

In 2004, accounting errors led CenterPoint Energy Inc. to overstate revenue and natural gas expenses.

2004: Private Equity Firms Purchase Texas Genco

In late 2004, the Texas Pacific Group, the Blackstone Group, Kohlberg Kravis Roberts, and Hellman & Friedman purchased Texas Genco from Centerpoint Energy.

December 16, 2005: CenterPoint Energy to restate finances

On December 16, 2005, CenterPoint Energy Inc. announced it would restate its finances for 2004 and the first three quarters of 2005 due to accounting errors that overstated revenue and natural gas expenses.

2006: Texas Genco sold to NRG Energy

In 2006, Texas Genco was sold to NRG Energy of Princeton, N.J.

2008: Lobbying and Taxes

During 2008–2010, CenterPoint Energy was criticized for spending $2.65 million on lobbying and not paying any taxes.

March 2009: Smart meter deployment began

In March 2009, CenterPoint Energy began a five-year smart meter deployment, enhancing functionality for Retail Electric Providers (REPs) and worked with the Department of Energy for a pilot program in Texas centered on energy consumption.

2010: Lobbying and Taxes

During 2008–2010, CenterPoint Energy was criticized for spending $2.65 million on lobbying and not paying any taxes.

2010: Partnership with Ford Motor Company

In 2010, CenterPoint Energy partnered with Ford Motor Company to promote the adoption of electric vehicles, focusing on consumer education and ensuring electrical infrastructure could support demand. They also developed strategies to minimize emissions and optimize the use of renewable energy.

December 2011: Criticism for Lobbying and Taxes

In December 2011, Public Campaign criticized CenterPoint Energy for spending $2.65 million on lobbying and not paying taxes during 2008-2010, while receiving $284 million in tax rebates despite a $1.9 billion profit and high executive pay.

April 23, 2018: CenterPoint Energy and Vectren Corporation Merger Agreement

On April 23, 2018, CenterPoint Energy and Vectren Corporation announced a definitive merger agreement, establishing CenterPoint as the head company.

February 1, 2019: CenterPoint Energy and Vectren Corporation Merger Completed

On February 1, 2019, the merger between CenterPoint Energy and Vectren Corporation was completed, leading to Vectren being delisted from the NYSE.

February 15, 2021: Statewide power generation shortfall emergency

On February 15, 2021, due to a major cold-weather event in Texas, the Electric Reliability Council of Texas (ERCOT) declared a statewide power generation shortfall emergency, leading to widespread blackouts. CenterPoint Energy initiated controlled, rotating outages in the Greater Houston area and asked customers to lower thermostat settings to conserve natural gas.

May 3, 2021: Vectren name retired

On May 3, 2021, CenterPoint retired the Vectren name for Vectren's former service territory.

July 8, 2024: Hurricane Beryl made landfall in Texas

In the early hours of July 8, 2024, Category 1 Hurricane Beryl made landfall in Texas, causing power outages for 2.2 million CenterPoint customers, the largest number in the company's and the state's history.

July 10, 2024: Graffiti mural

On July 10, 2024, a graffiti mural with the name "CenterPointle$$" appeared on an I-10 West underpass, criticizing the company's response to the hurricane. The Texas Department of Transportation (TxDOT) removed the mural on Friday.