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Related Party Transactions (Houston Electric and CERC)
 6 Months Ended
Jun. 30, 2024
Related Party Transactions [Abstract]  
Related Party Transactions (Houston Electric and CERC) Related Party Transactions (Houston Electric and CERC)
Houston Electric and CERC participate in CenterPoint Energy’s money pool through which they can borrow or invest on a short-term basis. Funding needs are aggregated and external borrowing or investing is based on the net cash position. The net funding requirements of the CenterPoint Energy money pool are expected to be met with borrowings under CenterPoint Energy’s revolving credit facility or the sale of CenterPoint Energy’s commercial paper.

The table below summarizes CenterPoint Energy money pool activity:

June 30, 2024December 31, 2023
Houston ElectricCERC
Houston Electric
CERC
 (in millions, except interest rates)
Money pool investments, net (1)
$287 $72 $238 $1 
Weighted average interest rate5.54 %5.54 %5.59 %5.59 %

(1)Included in Accounts and notes receivable–affiliated companies on Houston Electric’s and CERC’s respective Condensed Consolidated Balance Sheets, as applicable.

CenterPoint Energy provides some corporate services to Houston Electric and CERC. The costs of services have been charged directly to Houston Electric and CERC using methods that management believes are reasonable. These methods include usage rates, dedicated asset assignment and proportionate corporate formulas based on operating expenses, assets, gross margin, employees and a composite of assets, gross margin and employees. Houston Electric provides certain services to CERC. These services are billed at actual cost, either directly or as an allocation and include fleet services, shop services, geographic services, surveying and right-of-way services, radio communications, data circuit management and field operations. Additionally, CERC provides certain services to Houston Electric. These services are billed at actual cost, either directly or as an allocation and include line locating and other miscellaneous services. These charges are not necessarily indicative of what would have been incurred had Houston Electric and CERC not been affiliates.
Amounts charged for these services were as follows and are included primarily in Operation and maintenance expenses on the Condensed Statements of Consolidated Income:
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
Houston ElectricCERCHouston ElectricCERCHouston ElectricCERCHouston ElectricCERC
(in millions)
Corporate service charges$44 $55 $40 $56 $79 $106 $75 $106 
Net affiliate service charges (billings)(2)2 (3)3 (3)3 (6)6 

The table below presents transactions among Houston Electric, CERC and their parent, Utility Holding:
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
Houston ElectricCERCHouston ElectricCERCHouston ElectricCERCHouston ElectricCERC
(in millions)
Cash dividends paid to parent$119 $131 $109 $107 $155 $246 $160 $311 
Cash contribution from parent — 290 — 500 230 290 650 500