Houston Electric is now focused on implementing our intelligent grid project, which will bring substantial automation and new functionality to our distribution system. This project, other system improvements and robust growth in our Houston service territory should drive capital expenditures of $500 million to $600 million per year, contributing to rate base growth of approximately 4% annually.Our natural gas distribution business reporting -- reported $9 million of operating income in the second quarter of 2012, which was $4 million less than last year, primarily due to the impacts of milder weather. We continue to focus on productivity gains and operating efficiencies to offset the impact of extremely mild weather this year. Annual rate adjustments in a number of our jurisdictions continue to help us recovery new investments, as well as to offset reductions in usage, without the necessity of a major rate proceeding. This significantly reduces the amount of regulatory lag which we would typically experience.
CenterPoint Energy Management Discusses Q2 2012 Results - Earnings Call Transcript
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.