CenterPoint Energy 2010 Annual Report Download - page 7
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field services business has become one
of the leading providers of natural gas
infrastructure services in the Haynesville
Shale. Last year, we set company records
for new capital investments in this business
as well as the volume of natural gas gathered.
As a result of our proven track record and
our strong relationships with key natural
gas producers, we remain very optimistic
about the earnings potential of this business.
Our competitive natural gas sales and
services business had a disappointing
year. Operating income was $16 million,
down from $21 million in 2009. We had
a successful year in our retail division,
which sells natural gas to commercial
and industrial customers across 17 states.
However, our wholesale division suffered
due to tight locational and seasonal storage
spreads. Looking forward, we will continue
to focus on strengthening our retail base
as the economy improves and natural gas
demand increases. We will also work
to optimize our wholesale assets when
market conditions permit.
CREATING AN INTELLIGENT FUTURE, TODAY
We remain confident and optimistic
about our company’s future. Our
investments in smart meter and intelligent
grid technologies have positioned our
electric distribution operations as an
industry leader. These new systems will
change the way our customers manage
their energy use and how we manage
the grid.
As we look ahead, we continue to believe
that natural gas will play a vital role in
our nation’s energy strategy. Whether used
for direct heating or electric generation,
natural gas is plentiful, has the lowest
carbon footprint of any fossil fuel, and
the technologies needed to use it efficiently
are available today. Our interstate pipelines,
natural gas distribution, field services
and competitive gas marketing segments
are all well positioned to serve this
growing demand.
As always, our employees remain the key
to the successful operation of our company.
We appreciate their ongoing commitment
to serving our customers, communities
and shareholders. Across the company,
we are investing in technology, training
and knowledge transfer to ensure our
workforce is prepared for tomorrow.
We believe our disciplined, intelligent
approach has positioned CenterPoint
Energy to succeed now and for many
years to come.
Thank you for your continued confidence,
and we will keep striving to increase the
value of your investment.
Sincerely,
Milton Carroll
Chairman
David M. McClanahan
President and CEO
Left to Right:
Milton Carroll
Chairman
David M. McClanahan
President and CEO
5
Last year, our employees volunteered nearly
180,000 hours and raised more than $2.9 million
for non-profit organizations.
06 07 08 09 10
$.60 $.68 $.73 $.76 $.78
Dividends Paid
per share
180,000 HOURS