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MarketScreener Homepage  >  Equities  >  Nyse  >  CenterPoint Energy, Inc.    CNP

CENTERPOINT ENERGY, INC.

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CenterPoint Energy : Vectren finalizes plan for beneficial reuse for coal ash pond excavation and recycling

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08/14/2019 | 06:02pm EDT

Evansville, Ind. - Vectren, a CenterPoint Energy company, today announced as part of its ongoing sustainability efforts, ponded coal ash from its southwestern Indiana generating station, A.B. Brown, will be excavated and recycled for beneficial reuse. This partnership is a result of the federally mandated Coal Combustion Residuals Rule (CCR) requiring certain compliance measures for the long-term closure plans of coal ash ponds.

This week, Vectren filed an application with the Indiana Utility Regulatory Commission (IURC) to recover the costs associated with the ash pond remediation. The company will soon begin construction of the infrastructure needed to transport the coal ash to the Ohio River for transport by the manufacturer that will reuse the ash. The material that can be beneficially reused will be removed from the site, thereby greatly reducing future cost and environmental risk compared to alternatives that would leave all the ash on Vectren's property.

'This partnership with the manufacturer is an ideal solution - the material is removed from the environment, it will be used for beneficial purposes, and the cost to customers will be less than other viable compliance options,' said Lynnae Wilson, chief business officer, Indiana Electric. 'Vectren's decision to recycle the ponded coal ash reduces the impact on the environment and allows for the safe clean closure of the A.B. Brown coal ash pond.'

Vectren signed a multi-year agreement for the excavation, conversion and recycling of up to six million tons of ponded ash, a by-product of coal-fired generation, beginning in 2021. Since 2009, Vectren has been shipping dry fly ash from A.B. Brown, F.B. Culley and Warrick coal plants for use as a raw material in cement manufacturing.

Forward Looking Statement
This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this news release, the words 'anticipate,' 'believe,' 'continue,' 'could,' 'estimate,' 'expect,' 'forecast,' 'goal,' 'intend,' 'may,' 'objective,' 'plan,' 'potential,' 'predict,' 'projection,' 'should,' 'target,' 'will' or other similar words are intended to identify forward-looking statements. These forward-looking statements are based upon assumptions of management which are believed to be reasonable at the time made and are subject to significant risks and uncertainties. Actual events and results may differ materially from those expressed or implied by these forward-looking statements. Any statements in this news release regarding future events, such as the company's anticipated closure plan for the excavation and recycling of coal ash, including infrastructure construction related thereto, future cost impacts on the company and its customers and expectations regarding the company's future environmental risk profile, regulatory filings and decisions on those filings, legislative actions or requirements, and any other statements that are not historical facts are forward-looking statements. Each forward-looking statement contained in this news release speaks only as of the date of this release. Factors that could affect actual results include the timing and impact of future regulatory and legislative decisions, effects of competition, weather variations, changes in business plans, financial market conditions and other factors discussed in CenterPoint Energy's Annual Report on Form 10-K for the fiscal year ended December 31, 2018, CenterPoint Energy's Quarterly Report on Form 10-Q for the quarters ended March 31, 2019 and June 30, 2019 and other reports CenterPoint Energy or its subsidiaries may file from time to time with the Securities and Exchange Commission.

About CenterPoint Energy
Headquartered in Houston, Texas, CenterPoint Energy, Inc. is an energy delivery company with regulated utility businesses in eight states and a competitive energy businesses footprint in nearly 40 states. Through its electric transmission & distribution, power generation and natural gas distribution businesses, the company serves more than 7 million metered customers primarily in Arkansas, Indiana, Louisiana, Minnesota, Mississippi, Ohio, Oklahoma and Texas. CenterPoint Energy's competitive energy businesses include natural gas marketing and energy-related services; energy efficiency, sustainability and infrastructure modernization solutions; and construction and repair services for pipeline systems, primarily natural gas. The company also owns 53.8 percent of the common units representing limited partner interests in Enable Midstream Partners, LP, a publicly traded master limited partnership that owns, operates and develops strategically located natural gas and crude oil infrastructure assets. With approximately 14,000 employees and nearly $29 billion in assets, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, visit CenterPointEnergy.com.

Disclaimer

CenterPoint Energy Inc. published this content on 14 August 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 August 2019 22:01:05 UTC

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Sales 2019 13 138 M
EBIT 2019 1 324 M
Net income 2019 792 M
Debt 2019 14 877 M
Yield 2019 4,14%
P/E ratio 2019 18,0x
P/E ratio 2020 15,7x
EV / Sales2019 2,21x
EV / Sales2020 2,02x
Capitalization 14 117 M
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