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Short-term Borrowings and Long-term Debt (Tables) | 12 Months Ended
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Dec. 31, 2024
Debt Disclosure [Abstract] |
Schedule of Debt | Short-term Borrowings and Long-term Debt: As of December 31, 2024 and 2023, the Registrants had the following short-term borrowings and long-term debt outstanding:
| December 31, 2024 |  | December 31, 2023
| Long-Term |  | Current (1) |  | Long-Term |  | Current (1)
| (in millions)
CenterPoint Energy: |  |  |  |  |  |  |
ZENS due 2029 (2) | $ | — |  |  | $ | 2 |  |  | $ | — |  |  | $ | 5 |
CenterPoint Energy senior notes 1.45% to 5.25% due 2026 to 2049 | 3,950 |  |  | — |  |  | 3,250 |  |  | 850 |
CenterPoint Energy junior subordinated notes 6.70% to 7.00% due 2055 | 1,300 |  |  | — |  |  | — |  |  | — |
CenterPoint Energy pollution control bonds 5.125% due 2028 (3) | 68 |  |  | — |  |  | 68 |  |  | — |
CenterPoint Energy commercial paper (4) | 382 |  |  | — |  |  | 1,036 |  |  | — |
SIGECO first mortgage bonds 3.450% to 6.00% due 2025 to 2055 (5) | 944 |  |  | 41 |  |  | 825 |  |  | 22 |
SIGECO securitization bonds 5.026% to 5.172% due 2036 to 2041 (6) | 311 |  |  | 13 |  |  | 324 |  |  | 17 |
Unamortized debt issuance costs | (48) |  |  | — |  |  | (35) |  |  | — |
Unamortized discount and premium, net | (6) |  |  | — |  | (5) |  |  | — |
Houston Electric debt (see details below) | 8,322 |  |  | 500 |  |  | 7,426 |  |  | 161 |
CERC debt (see details below) | 5,174 |  |  | 10 |  |  | 4,670 |  |  | 4 |
Total CenterPoint Energy debt | $ | 20,397 |  |  | $ | 566 |  |  | $ | 17,559 |  |  | $ | 1,059 |
Houston Electric: |  |  |  |  |  |  |
Short Term Borrowings: |  |  |  |  |  |  |
Term loan | $ | — |  |  | $ | 500 |  |  | $ | — |  |  | $ | — |
Long-term debt: |  |  |  |  |  |  |
General mortgage bonds 2.35% to 6.95% due 2026 to 2053 (7) | $ | 8,412 |  |  | $ | — |  |  | $ | 7,512 |  |  | $ | — |
Other | 1 |  |  | — |  |  | 1 |  |  | — |
Bond Company IV: |  |  |  |  |  |  |
Transition bonds 3.028% due 2024 | — |  |  | — |  |  | — |  |  | 161 |
Unamortized debt issuance costs | (62) |  |  | — |  |  | (59) |  |  | — |
Unamortized discount and premium, net | (29) |  |  | — |  |  | (28) |  |  | — |
Total Houston Electric debt | $ | 8,322 |  |  | $ | 500 |  |  | $ | 7,426 |  |  | $ | 161 |
CERC (8): |  |  |  |  |  |  |
Short-term borrowings: |  |  |  |  |  |  |
Inventory financing (9) | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 4 |
Long-term debt: |  |  |  |  |  |  |
Senior notes 1.75% to 6.625% due 2026 to 2047 | $ | 4,520 |  |  | $ | — |  |  | $ | 4,120 |  |  | $ | — |
Indiana Gas senior notes 6.34% to 7.08% due 2025 to 2029 | 86 |  |  | 10 |  |  | 96 |  |  | — |
Commercial paper (4) | 599 |  |  | — |  |  | 484 |  |  | — |
Unamortized debt issuance costs | (31) |  |  | — |  |  | (31) |  |  | — |
Unamortized discount and premium, net | — |  |  | — |  |  | 1 |  |  | — |
Total CERC debt | $ | 5,174 |  |  | $ | 10 |  |  | $ | 4,670 |  |  | $ | 4 |
(1)Includes amounts due or exchangeable within one year of the date noted. (2)CenterPoint Energy’s ZENS obligation is bifurcated into a debt component and an embedded derivative component. For additional information regarding ZENS, see Note 10(b). As ZENS are exchangeable for cash at any time at the option of the holders, these notes are classified as a current portion of long-term debt. (3)These pollution control bonds were secured by general mortgage bonds of Houston Electric as of December 31, 2024 and 2023 and are not reflected in Houston Electric’s consolidated financial statements because of the contingent nature of the obligations. (4)Commercial paper issued by CenterPoint Energy and CERC Corp. has maturities up to 60 days and 30 days, respectively, and are backstopped by the respective issuer’s long-term revolving credit facility. Commercial paper is classified as long-term because the termination date of the facility that backstops the commercial paper is more than one year from the balance sheet date. (5)The first mortgage bonds issued by SIGECO subject SIGECO’s properties to a lien under the related mortgage indenture as further discussed below. (6)Scheduled final payment dates are November 15, 2036 and May 15, 2041. The SIGECO Securitization Bonds will be repaid over time through a securitization charge imposed on retail electric customers in SIGECO’s service territory. (7)The general mortgage bonds issued by Houston Electric subject Houston Electric’s properties to a lien under the General Mortgage as further discussed below. (8)Issued by CERC Corp. (9)Represents AMA transactions accounted for as an inventory financing.
Schedule of Revolving Credit Facilities and Utilization of Such Facilities | During 2024, the following debt instruments were issued or incurred:
Registrant |  | Issuance Date |  | Debt Instrument |  | Aggregate Principal Amount |  | Interest Rate |  | Maturity Date
|  |  |  | (in millions, except for interest rates) |  |
Houston Electric (1) |  | February 2024 |  | General Mortgage Bonds |  | $ | 400 |  |  | 5.15% |  | 2034
Houston Electric (2) |  | June 2024 |  | Term Loan |  | 500 |  |  | SOFR (9) + 1.00% |  | 2025
Houston Electric (3) |  | October 2024 |  | General Mortgage Bonds |  | 500 |  |  | 5.05% |  | 2035
|  |  |  | Total Houston Electric |  | 1,400 |  |  |  |  |
CERC (4) |  | June 2024 |  | Senior Notes |  | 400 |  |  | 5.40% |  | 2034
|  |  |  | Total CERC |  | 400 |  |  |  |  |
CenterPoint Energy (5) |  | May 2024 |  | Senior Notes |  | 700 |  |  | 5.40% |  | 2029
CenterPoint Energy (6) |  | August 2024 |  | First Mortgage Bonds |  | 100 |  |  | 5.18% |  | 2034
CenterPoint Energy (6) |  | August 2024 |  | First Mortgage Bonds |  | 60 |  |  | 5.28% |  | 2036
CenterPoint Energy (7) |  | August 2024 |  | Junior Subordinated Notes |  | 400 |  |  | 7.00% |  | 2055
CenterPoint Energy (7) |  | August 2024 |  | Junior Subordinated Notes |  | 400 |  |  | 6.85% |  | 2055
CenterPoint Energy (8) |  | October 2024 |  | Junior Subordinated Notes |  | 500 |  |  | 6.70% |  | 2055
|  |  |  | Total CenterPoint Energy |  | $ | 3,960 |  |  |  |  |
(1)Total proceeds from Houston Electric’s February 2024 issuance of general mortgage bonds, net of transaction expenses and fees, were approximately $395 million, which were used for general limited liability company purposes, including capital expenditures and working capital purposes. (2)On June 28, 2024, Houston Electric borrowed $100 million aggregate principal amount available under the term loan agreement. In September 2024, Houston Electric borrowed $200 million aggregate principal amount available under the term loan agreement. In November 2024, Houston Electric requested additional commitments under the term loan agreement and borrowed $200 million under the term loan agreement. Houston Electric has used the proceeds thereof for working capital purposes to support liquidity needs from the May 2024 Storm Events and general limited liability company purposes. (3)Total net proceeds from Houston Electric’s October 2024 issuance of general mortgage bonds, net of transaction expenses and fees, were approximately $494 million, which were used for general limited liability company purposes, including capital expenditures and working capital purposes. (4)Total proceeds from CERC’s June 2024 issuance of senior notes, net of transaction expenses and fees, were approximately $396 million which were used for general corporate purposes, including the repayment of a portion of CERC’s outstanding commercial paper. (5)Total proceeds from CenterPoint Energy’s May 2024 issuance of senior notes, net of transaction expenses and fees, were approximately $693 million which were used for general corporate purposes including the redemption of $350 million aggregate principal amount of CenterPoint Energy’s outstanding floating rate senior notes due 2024 and the repayment of a portion of CenterPoint Energy’s outstanding commercial paper. (6)Issued by SIGECO. Total proceeds from SIGECO’s August 2024 issuance of first mortgage bonds, net of transaction expenses and fees, of approximately $159 million were used for general corporate purposes, including repaying short-term debt and long-term debt at maturity or otherwise. See Note 20 for additional information. (7)Total proceeds from CenterPoint Energy’s August 2024 issuance of junior subordinated notes, net of transaction expenses and fees, were approximately $790 million, which were used for general corporate purposes, including the redemption of $500 million aggregate principal amount of CenterPoint Energy’s outstanding 2.50% senior notes due 2024 and the repayment of a portion of CenterPoint Energy’s outstanding commercial paper. (8)Total proceeds from CenterPoint Energy’s October 2024 issuance of junior subordinated notes, net of transaction expenses and fees, were approximately $494 million, which were used for general company purposes including the repayment of a portion of CenterPoint Energy’s outstanding commercial paper. (9)The borrowings under the term loan agreement bear interest at Houston Electric’s option, at a rate equal to either (i) Term SOFR (as defined in the term loan agreement), which includes an adjustment of 0.10% per annum plus a margin of 1.0%, or (ii) the Alternate Base Rate (as defined in the term loan agreement) The Registrants had the following revolving credit facilities as of December 31, 2024:
Registrant |  | Execution Date |  | Size of Facility |  | Draw Rate of SOFR plus (1) |  | Financial Covenant Limit on Debt for Borrowed Money to Capital Ratio |  | Debt for Borrowed Money to Capital Ratio as of December 31, 2024 (2) |  | Termination Date (5)
|  |  |  | (in millions) |  |  |  |  |  |  |  |
CenterPoint Energy |  | December 6, 2022 |  | $ | 2,400 |  |  | 1.500% |  | 65% | (3) | 59.3% |  | December 6, 2027
CenterPoint Energy (4) |  | December 6, 2022 |  | 250 |  |  | 1.125% |  | 65% |  | 44.8% |  | December 6, 2027
Houston Electric |  | December 6, 2022 |  | 300 |  |  | 1.250% |  | 67.5% | (3) | 53.3% |  | December 6, 2027
CERC |  | December 6, 2022 |  | 1,050 |  |  | 1.125% |  | 65% |  | 41.4% |  | December 6, 2027
Total |  |  |  | $ | 4,000 |  |  |  |  |  |  |  |  |
(1)Based on credit ratings as of December 31, 2024. (2)As defined in the revolving credit facility agreement, excluding Securitization Bonds. (3)For CenterPoint Energy and Houston Electric, the financial covenant limit will temporarily increase to 70% if Houston Electric experiences damage from a natural disaster in its service territory and CenterPoint Energy certifies to the administrative agent that Houston Electric has incurred system restoration costs reasonably likely to exceed $100 million in a consecutive 12-month period, all or part of which Houston Electric 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. (4)This credit facility was issued by SIGECO. (5)See Note 20 for discussion of subsequent events associated with the revolving credit facilities. As of December 31, 2024 and 2023, the Registrants had the following revolving credit facilities and utilization of such facilities:
|  | December 31, 2024 |  | December 31, 2023
Registrant |  | Size of Facility |  | Loans |  | Letters of Credit |  | Commercial Paper |  | Weighted Average Interest Rate |  | Size of Facility |  | Loans |  | Letters of Credit |  | Commercial Paper |  | Weighted Average Interest Rate
|  | (in millions, except weighted average interest rate) |  |
CenterPoint Energy (1) |  | $ | 2,400 |  |  | $ | — |  |  | $ | — |  |  | $ | 382 |  |  | 4.59 | % |  | $ | 2,400 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,036 |  |  | 5.54 | %
CenterPoint Energy (2) |  | 250 |  |  | — |  |  | — |  |  | — |  |  | — | % |  | 250 |  |  | — |  |  | — |  |  | — |  |  | — | %
Houston Electric |  | 300 |  |  | — |  |  | — |  |  | — |  |  | — | % |  | 300 |  |  | — |  |  | — |  |  | — |  |  | — | %
CERC |  | 1,050 |  |  | — |  |  | — |  |  | 599 |  |  | 4.62 | % |  | 1,050 |  |  | — |  |  | 1 |  |  | 484 |  |  | 5.53 | %
Total |  | $ | 4,000 |  |  | $ | — |  |  | $ | — |  |  | $ | 981 |  |  |  |  | $ | 4,000 |  |  | $ | — |  |  | $ | 1 |  |  | $ | 1,520 |  |  |
(1)CenterPoint Energy’s and CERC’s outstanding commercial paper generally have maturities up to 60 days and 30 days, respectively, and are backstopped by the respective issuer’s long-term revolving credit facility. (2)This credit facility was issued by SIGECO.
Schedule of Debt Repayments and Redemptions | During 2024, the following debt instruments were repaid at maturity or redeemed prior to maturity:
Registrant |  | Repayment/Redemption Date |  | Debt Instrument |  | Aggregate Principal |  | Interest Rate |  | Maturity Date
|  |  |  |  |  | (in millions) |  |  |  |
CenterPoint Energy (1) |  | March 2024 |  | First Mortgage Bonds |  | $ | 22 |  |  | 3.50% |  | 2024
CenterPoint Energy (2) |  | May 2024 |  | Senior Notes |  | 350 |  |  | SOFR + 0.65% |  | 2024
CenterPoint Energy (3) |  | September 2024 |  | Senior Notes |  | 500 |  |  | 2.50% |  | 2024
|  |  |  | Total CenterPoint Energy |  | $ | 872 |  |  |  |  |
(1) On February 6, 2024, SIGECO provided notice of redemption and on March 1, 2024, SIGECO paid down the outstanding principal of $22 million aggregate principal amount of SIGECO’s outstanding first mortgage bonds due 2024 at a redemption price equal to 100% of the principal amount of the first mortgage bonds to be redeemed plus accrued and unpaid interest thereon, if any, to, but excluding, the redemption date. (2) On May 13, 2024, CenterPoint Energy redeemed $350 million aggregate principal amount of its outstanding floating rate senior notes due 2024 at a redemption price equal to 100% of the principal amount to be redeemed plus accrued and unpaid interest thereon. (3) In September 2024, CenterPoint Energy redeemed $500 million aggregate principal amount of its outstanding 2.50% senior notes due 2024 at a redemption price equal to 100% of the principal amount to be redeemed plus accrued and unpaid interest thereon.
Schedule of Extinguishment of Debt | CenterPoint Energy and Houston Electric recorded the following losses on early extinguishment of debt, including make-whole premiums and recognition of deferred debt related costs, in Interest expense and other finance charges on their respective Statements of Consolidated Income unless specified otherwise:
|  | Year Ended December 31,
|  | 2024 |  | 2023 |  | 2022
|  | (in millions)
CenterPoint Energy (1) |  | $ | — |  |  | $ | 11 |  |  | $ | 47 |
Houston Electric (2) |  | — |  |  | — |  |  | 2 |
(1) The loss on early extinguishment of debt at CenterPoint Energy during 2023 was recorded as a regulatory asset. (2) The loss on early extinguishment of debt at Houston Electric during 2022 was recorded as a regulatory asset.
Schedule of Maturities of Long-term Debt | Maturities. As of December 31, 2024, maturities of long-term debt through 2029, excluding the ZENS obligation and unamortized discounts, premiums and issuance costs, were as follows:
| CenterPoint Energy (1) |  | Houston Electric (1) |  | CERC |  | Securitization Bonds
| (in millions)
2025 | $ | 564 |  |  | $ | 500 |  |  | $ | 10 |  |  | $ | 13 |
2026 | 2,274 |  |  | 300 |  |  | 60 |  |  | 14 |
2027 | 1,320 |  |  | 300 |  |  | 625 |  |  | 14 |
2028 | 2,063 |  |  | 500 |  |  | 1,230 |  |  | 15 |
2029 | 935 |  |  | — |  |  | 30 |  |  | 16 |
(1)These maturities include Securitization Bonds principal repayments on scheduled payment dates.

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