CenterPoint Energy 2014 Annual Report Download - page 57

Electric Transmission & Distribution
The following tables provide summary data of our Electric Transmission & Distribution business segment, CenterPoint Houston, for 2014
,
2013 and 2012 (in millions, except throughput and customer data):
___________________
2014 Compared to 2013. Our Electric Transmission & Distribution business segment reported operating income of $595 million
for 2014,
consisting of $477 million from our regulated electric transmission and distribution utility operations (TDU) and $118 million
related to
transition and system restoration bond companies. For 2013, operating income totaled $607 million , consisting of $474 million
from the TDU
and $133 million related to transition and system restoration bond companies. TDU operating income increased $3 million
due to customer
growth ($33 million) from the addition of almost 55,000 new customers, higher equity return ($23 million), primarily related to true-
up proceeds
and higher energy efficiency performance bonus ($15 million), partially offset by increased labor and support services costs ($21 million),
increased contracts and services ($19 million), lower right of way revenues ($8 million), increased depreciation ($8 million), an adjustment to
our claims liability reserve ($6 million) and decreased usage ($5 million), primarily due to milder weather. Increased transmission costs of $168
million were largely offset by increased transmission revenue.
2013 Compared to 2012.
Our Electric Transmission & Distribution business segment reported operating income of $607 million for 2013,
consisting of $474 million from the TDU and $133 million related to transition and system restoration bond companies. For 2012, operating
income totaled $639 million, consisting of $492 million from the TDU and $147 million related to transition and system restoration bond
companies. TDU operating income decreased $18 million due to decreased usage ($13 million), primarily due to unfavorable weather, increased
taxes other than income taxes ($11 million), increased depreciation ($10 million, excluding $8 million from increased investment in AMS offset
by the related revenues), increased labor and benefits costs ($7 million), increased contracts and services ($4 million), increased support services
($4 million) and increased insurance costs
50
Year Ended December 31,
2014
2013 2012
Revenues:
Electric transmission and distribution utility
$
2,279
$
2,063
$
1,949
Transition and system restoration bond companies
566
507
591
Total revenues
2,845
2,570
2,540
Expenses:
Operation and maintenance, excluding transition and system restoration bond
companies
1,251
1,045
942
Depreciation and amortization, excluding transition and system restoration bond
companies
327
319
301
Taxes other than income taxes
224
225
214
Transition and system restoration bond companies
448
374
444
Total expenses
2,250
1,963
1,901
Operating Income
$
595
$
607
$
639
Operating Income:
Electric transmission and distribution operations
$
477
$
474
$
492
Transition and system restoration bond companies (1)
118
133
147
Total segment operating income
$
595
$
607
$
639
Throughput (in gigawatt-hours (GWh)):
Residential
27,498
27,485
27,315
Total
81,839
79,985
78,593
Number of metered customers at end of period:
Residential
2,033,027
1,982,699
1,943,423
Total
2,299,247
2,244,289
2,199,764
(1)
Represents the amount necessary to pay interest on the transition and system restoration bonds.