CenterPoint Energy 2014 Annual Report Download - page 140
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Please find page 140 of the 2014 CenterPoint Energy annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
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restoration costs reasonably likely to exceed $100 million in a consecutive twelve -
month period, all or part of which CenterPoint Houston
intends to seek to recover through securitization financing. Such temporary increase in the financial covenant would be in effect from the date
CenterPoint Energy delivers its certification until the earliest to occur of (i) the completion of the securitization financing, (ii) the first
anniversary of CenterPoint Energy’s certification or (iii) the revocation of such certification.
CenterPoint Energy’s maturities of long-term debt, excluding the indexed debt securities obligation, are $269 million in 2015,
$250 million
in 2017, $350 million in 2018 and $191 million in 2019. There are no maturities of long-term debt in 2016.
(4) Guarantees.
CenterPoint Energy has provided guarantees (CenterPoint Midstream Guarantees) with respect to the performance of
certain obligations of Enable under long-
term gas gathering and treating agreements with an indirect wholly owned subsidiary of Encana
Corporation and an indirect wholly owned subsidiary of Royal Dutch Shell plc. As of December 31, 2014
, CenterPoint Energy had guaranteed
Enable’s obligations up to an aggregate amount of $100 million
under these agreements. Under the terms of the omnibus agreement entered into
in connection with the closing of the formation of Enable, Enable and CenterPoint Energy have agreed to use commercially reasonable efforts
and cooperate with each other to terminate the CenterPoint Midstream Guarantees and to release CenterPoint Energy from such guarantees by
causing Enable or one of its subsidiaries to enter into substitute guarantees or to assume the CenterPoint Midstream Guarantees as applicable.
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