I will however, summarize the performance of each unit and describe their prospects for 2012 and beyond. Houston Electric had its best year financially. Core operating income was $496 million compared to $427 million in 2010. Fourth quarter income was $62 million, up $6 million from 2010. Last summer's record heat was the biggest driver of Houston Electric's increased income.In addition, we saw strong growth in Houston with over 45,000 new customers added last year. Our gas LDCs also had a good year. Operating income for the full year was $226 million or about $5 million below the record level of 2010. Fourth quarter income was $73 million compared to $86 million in 2010. While margin growth was modest last year, we were successful in our expense management efforts. As a result, on an overall basis, we earned at or near our authorized rate of return for the second consecutive year.
CenterPoint Energy's CEO Discusses Q4 2011 Results - Earnings Call Transcript
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