exv99w1

Exhibit 99.1


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		Media: Leticia Lowe Phone 713.207.7702 Investors: Marianne Paulsen Phone 713.207.6500


For Immediate Release		Page 1 of 4

CENTERPOINT ENERGY REPORTS THIRD QUARTER 2008 EARNINGS
Results in natural gas gathering and commercial sales businesses produce strong quarter

Houston, TX — November 5, 2008 - CenterPoint Energy, Inc. (NYSE: CNP) today reported net income of $136 million, or $0.39 per diluted share, for the third quarter of 2008 compared to $91 million, or $0.27 per diluted share, for the same period of 2007.

“We continue to see the benefits of our balanced electric and natural gas portfolio. Strong results in our field services and competitive natural gas businesses helped offset the loss of revenue from Hurricane Ike,” said David M. McClanahan, president and chief executive officer of CenterPoint Energy. “With over 90 percent of our customers without power following the storm, the challenges brought on by Hurricane Ike were significant. I’m extremely proud of the extraordinary efforts of our employees and the thousands of workers from 35 other states and Canada who worked to repair our system and restore service to our customers.”

For the nine months ended September 30, 2008, net income was $360 million, or $1.05 per diluted share, compared to $291 million, or $0.85 per diluted share, for the same period of 2007.

OPERATING INCOME BY SEGMENT

Electric Transmission & Distribution

The electric transmission & distribution segment reported operating income of $202 million for the third quarter of 2008, consisting of $169 million from the regulated electric transmission & distribution utility operations (TDU) and $33 million related to transition bonds. Operating income for the third quarter of 2007 was $196 million, consisting of $155 million from the TDU, $30 million related to transition bonds, and $11 million from the competition transition charge (CTC). In February 2008, the company monetized the remaining allowed true-up balance resulting in the discontinuance of the CTC.

When Hurricane Ike’s 110 mile-per-hour winds struck our service territory in September, more than 2 million customers lost power, but the TDU was able to restore power to all customers capable of receiving it within 18 days. As a result of this timely restoration effort, the estimated loss of third quarter revenue to the TDU was limited to $17 million. The loss of revenue from Hurricane Ike was more than offset by strong customer growth of over 42,000 metered customers since September 2007, increased usage, and reduced costs associated with normal operating and maintenance activities delayed because of the storm. In addition, taxes other than income taxes declined due to the Texas margin tax being classified as income tax beginning in 2008 and a refund of prior-year state franchise taxes.

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For Immediate Release		Page 2 of 4

The cost to repair the system and restore service is estimated to be in the range of $650 to $750 million. These costs are being deferred for future recovery through the regulatory process and therefore do not affect third quarter earnings.

Operating income for the nine months ended September 30, 2008, was $457 million, consisting of $352 million from the TDU, $100 million related to transition bonds, and $5 million from the CTC. Operating income for the same period of 2007 was also $457 million, consisting of $335 million from the TDU, $90 million related to transition bonds, and $32 million from the CTC.

Natural Gas Distribution

The natural gas distribution segment reported an operating loss of $6 million for the third quarter of 2008 compared to a loss of $8 million for the same period of 2007. Operating income benefited from new rates implemented in late 2007 and continued customer growth of nearly 26,000 metered customers since September 2007. Due to seasonal impacts, the third quarter is typically the weakest quarter for this segment.

Operating income for the nine months ended September 30, 2008, was $119 million compared to $129 million for the same period of 2007.

Interstate Pipelines

The interstate pipelines segment reported operating income of $55 million for the third quarter of 2008 compared to $70 million for the same period of 2007. The third quarter of 2008 included a $7 million write-down associated with pipeline assets removed from service, while the third quarter of 2007 included tax refunds of $4 million related to settlements of certain state tax issues and gains of $5 million associated with the sale of the pipeline services business. Excluding these items, higher income from the Carthage to Perryville pipeline and other transportation services was offset by reduced ancillary services and higher operation and maintenance expenses.

Operating income for the nine months ended September 30, 2008, was $227 million compared to $166 million for the same period of 2007.

Field Services

The field services segment reported operating income of $44 million for the third quarter of 2008 compared to $26 million for the same period of 2007. Operating income increased primarily from higher throughput, increased ancillary services, and a gain of $7 million associated with system imbalances.

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For Immediate Release		Page 3 of 4

In addition to operating income, this business had equity income of $4 million in the third quarter of 2008 compared to $2 million in the third quarter of 2007 from its 50 percent interest in a jointly-owned gas processing plant. These amounts are included in Other — net under the Other Income (Expense) caption.

Operating income for the nine months ended September 30, 2008, was $121 million compared to $75 million for the same period of 2007. Equity income from the jointly-owned gas processing plant was $12 million for the nine months ended September 30, 2008, compared to $6 million for the same period of 2007.

Competitive Natural Gas Sales and Services

The competitive natural gas sales and services segment reported operating income of $35 million for the third quarter of 2008 compared to $4 million for the same period of 2007. Approximately $7 million of the increase was due to favorable locational and seasonal price differentials. The third quarter of 2008 included gains of $46 million resulting from mark-to-market accounting for derivatives used to lock in economic margins of certain forward natural gas sales compared to mark-to-market gains of $2 million for the same period of 2007. The third quarter of 2008 also included a $24 million write-down of natural gas inventory to the lower of average cost or market, compared to a $5 million inventory write-down for the same period of 2007.

Operating income for the nine months ended September 30, 2008, was $36 million compared to $56 million for the same period of 2007. The nine months ended September 30, 2008, included gains of $14 million resulting from mark-to-market accounting compared to charges of $12 million for the same period of 2007. Additionally, the nine months ended September 30, 2008, included $24 million in inventory write-downs compared to $11 million in inventory write-downs for the same period of 2007.

DIVIDEND DECLARATION

On October 30, 2008, CenterPoint Energy’s board of directors declared a regular quarterly cash dividend of $0.1825 per share of common stock payable on December 10, 2008, to shareholders of record as of the close of business on November 14, 2008.

2008 REVISED GUIDANCE

CenterPoint Energy expects diluted earnings per share for 2008 to be in the range of $1.25 to $1.35. Previously-provided guidance was for earnings to be in the upper half of $1.15 to $1.25 per diluted share. This guidance takes into consideration performance to date as well as various economic and operational assumptions related to the business segments in which the company operates. The company has made certain assumptions regarding the impact to earnings of various regulatory proceedings, including recovery of costs associated with Hurricane Ike, but cannot

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For Immediate Release		Page 4 of 4

predict the ultimate outcome of any of those proceedings. In providing this guidance, the company has not projected the impact of any changes in accounting standards, any impact from acquisitions or divestitures, the timing effects of mark-to-market or inventory accounting in our competitive natural gas sales and services business, or the outcome of the TDU’s true-up appeal.

FILING OF FORM 10-Q FOR CENTERPOINT ENERGY, INC.

Today, CenterPoint Energy, Inc. filed with the Securities and Exchange Commission (SEC) its Quarterly Report on Form 10-Q for the period ended September 30, 2008. A copy of that report is available on the company’s Web site, www.CenterPointEnergy.com, under the Investors section. Other filings the company makes at the SEC and other documents relating to its corporate governance can also be found on that site.

WEBCAST OF EARNINGS CONFERENCE CALL

CenterPoint Energy’s management will host an earnings conference call on Wednesday, November 5, 2008, at 10:30 a.m. Central time or 11:30 a.m. Eastern time. Interested parties may listen to a live audio broadcast of the conference call at www.CenterPointEnergy.com. A replay of the call can be accessed approximately two hours after the completion of the call and will be archived on the Web site for at least one year.

CenterPoint Energy, Inc., headquartered in Houston, Texas, is a domestic energy delivery company that includes electric transmission & distribution, natural gas distribution, competitive natural gas sales and services, interstate pipelines, and field services operations. The company serves more than five million metered customers primarily in Arkansas, Louisiana, Minnesota, Mississippi, Oklahoma, and Texas. Assets total over $19 billion. With about 8,600 employees, CenterPoint Energy and its predecessor companies have been in business for more than 130 years. For more information, visit the Web site at www.CenterPointEnergy.com.

This news release includes forward-looking statements. Actual events and results may differ materially from those projected. The statements in this news release regarding future financial performance and results of operations and other statements that are not historical facts are forward-looking statements. Factors that could affect actual results include the timing and outcome of appeals from the true-up proceedings, the timing and impact of future regulatory, legislative, and IRS decisions, effects of competition, weather variations, changes in CenterPoint Energy’s or its subsidiaries’ business plans, financial market conditions, the timing and extent of changes in commodity prices, particularly natural gas, the impact of unplanned facility outages, and other factors discussed in CenterPoint Energy’s and its subsidiaries’ Form 10-Ks for the period ended December 31, 2007, CenterPoint Energy’s and its subsidiaries’ Form 10-Qs for the periods ended March 31, 2008, and June 30, 2008, CenterPoint Energy’s Form 10-Q for the period ended September 30, 2008, and other filings with the SEC.

###

CenterPoint Energy, Inc. and Subsidiaries
Statements of Consolidated Income
(Millions of Dollars)
(Unaudited)


	Quarter Ended						Nine Months Ended
	September 30,						September 30,
	2007			2008			2007			2008
Revenues:
Electric Transmission & Distribution	$	528		$	552		$	1,399		$	1,471
Natural Gas Distribution		458			550			2,601			2,976
Competitive Natural Gas Sales and Services		770			1,269			2,715			3,632
Interstate Pipelines		137			143			348			468
Field Services		44			71			125			191
Other Operations		3			3			8			8
Eliminations		(58	)		(73	)		(175	)		(198	)

Total		1,882			2,515			7,021			8,548


Expenses:
Natural gas		991			1,532			4,349			5,675
Operation and maintenance		349			371			1,031			1,078
Depreciation and amortization		170			194			475			540
Taxes other than income taxes		85			81			284			285

Total		1,595			2,178			6,139			7,578

Operating Income		287			337			882			970


Other Income (Expense) :
Loss on Time Warner investment		(58	)		(36	)		(74	)		(73	)
Gain on indexed debt securities		56			33			70			66
Interest and other finance charges		(126	)		(116	)		(368	)		(344	)
Interest on transition bonds		(30	)		(34	)		(93	)		(102	)
Distribution from AOL Time Warner litigation settlement		32			—			32			—
Additional distribution to ZENS holders		(27	)		—			(27	)		—
Other — net		11			29			23			56

Total		(142	)		(124	)		(437	)		(397	)


Income Before Income Taxes		145			213			445			573

Income Tax Expense		(54	)		(77	)		(154	)		(213	)


Net Income	$	91		$	136		$	291		$	360

Reference is made to the Notes to the Consolidated Financial Statements
contained in the Quarterly Report on Form 10-Q of CenterPoint Energy, Inc.

CenterPoint Energy, Inc. and Subsidiaries
Selected Data From Statements of Consolidated Income
(Millions of Dollars, Except Share and Per Share Amounts)
(Unaudited)


	Quarter Ended						Nine Months Ended
	September 30,						September 30,
	2007			2008			2007			2008
Basic Earnings Per Common Share:
Net Income	$	0.29		$	0.40		$	0.91		$	1.08


Diluted Earnings Per Common Share:
Net Income	$	0.27		$	0.39		$	0.85		$	1.05


Dividends Declared per Common Share	$	0.17		$	0.1825		$	0.51		$	0.5475

Weighted Average Common Shares Outstanding (000):
- Basic		321,192			342,228			320,071			333,652
- Diluted		340,974			344,584			342,222			342,187

Operating Income (Loss) by Segment

Electric Transmission & Distribution:
Electric Transmission and Distribution Operations	$	155		$	169		$	335		$	352
Competition Transition Charge		11			—			32			5

Total Electric Transmission and Distribution Utility		166			169			367			357
Transition Bond Companies		30			33			90			100

Total Electric Transmission & Distribution		196			202			457			457
Natural Gas Distribution		(8	)		(6	)		129			119
Competitive Natural Gas Sales and Services		4			35			56			36
Interstate Pipelines		70			55			166			227
Field Services		26			44			75			121
Other Operations		(1	)		7			(1	)		10


Total	$	287		$	337		$	882		$	970

Reference is made to the Notes to the Consolidated Financial Statements
contained in the Quarterly Report on Form 10-Q of CenterPoint Energy, Inc.

CenterPoint Energy, Inc. and Subsidiaries
Results of Operations by Segment
(Millions of Dollars)
(Unaudited)


	Electric Transmission & Distribution
	Quarter Ended									Nine Months Ended
	September 30,						% Diff			September 30,						% Diff
	2007			2008			Fav/(Unfav)			2007			2008			Fav/(Unfav)
Results of Operations:
Revenues:
Electric transmission and distribution utility	$	445		$	455			2	%	$	1,187		$	1,220			3	%
Transition bond companies		83			97			17	%		212			251			18	%

Total		528			552			5	%		1,399			1,471			5	%


Expenses:
Operation and maintenance		163			167			(2	%)		467			502			(7	%)
Depreciation and amortization		58			71			(22	%)		182			208			(14	%)
Taxes other than income taxes		58			48			17	%		171			153			11	%
Transition bond companies		53			64			(21	%)		122			151			(24	%)

Total		332			350			(5	%)		942			1,014			(8	%)

Operating Income	$	196		$	202			3	%	$	457		$	457			—


Operating Income:
Electric transmission and distribution operations	$	155		$	169			9	%	$	335		$	352			5	%
Competition transition charge		11			—			—			32			5			(84	%)
Transition bond companies		30			33			10	%		90			100			11	%

Total Segment Operating Income	$	196		$	202			3	%	$	457		$	457			—


Electric Transmission & Distribution Operating Data:
Actual MWH Delivered
Residential		8,381,258			8,445,744			1	%		19,060,031			19,623,125			3	%
Total		22,725,500			21,594,051			(5	%)		58,560,692			58,523,281			—

Weather (average for service area):
Percentage of 10-year average:
Cooling degree days		102	%		97	%		(5	%)		99	%		104	%		5	%
Heating degree days		0	%		0	%		0	%		114	%		95	%		(19	%)

Average number of metered customers:
Residential		1,782,281			1,822,351			2	%		1,767,431			1,812,821			3	%
Total		2,022,448			2,066,538			2	%		2,006,344			2,055,723			2	%


	Natural Gas Distribution
	Quarter Ended									Nine Months Ended
	September 30,						% Diff			September 30,						% Diff
	2007			2008			Fav/(Unfav)			2007			2008			Fav/(Unfav)
Results of Operations:
Revenues	$	458		$	550			20	%	$	2,601		$	2,976			14	%

Expenses:
Natural gas		267			351			(31	%)		1,845			2,196			(19	%)
Operation and maintenance		139			139			—			421			436			(4	%)
Depreciation and amortization		38			40			(5	%)		114			118			(4	%)
Taxes other than income taxes		22			26			(18	%)		92			107			(16	%)

Total		466			556			(19	%)		2,472			2,857			(16	%)

Operating Income (Loss)	$	(8	)	$	(6	)		25	%	$	129		$	119			(8	%)


Natural Gas Distribution Operating Data:
Throughput data in BCF
Residential		12			13			8	%		118			117			(1	%)
Commercial and Industrial		42			41			(2	%)		168			171			2	%

Total Throughput		54			54			—			286			288			1	%


Weather (average for service area)
Percentage of 10-year average:
Heating degree days		75	%		57	%		(18	%)		98	%		106	%		8	%

Average number of customers:
Residential		2,910,041			2,937,618			1	%		2,927,122			2,956,500			1	%
Commercial and Industrial		246,021			245,514			—			246,382			248,759			1	%

Total		3,156,062			3,183,132			1	%		3,173,504			3,205,259			1	%

Reference is made to the Notes to the Consolidated Financial Statements
contained in the Quarterly Report on Form 10-Q of CenterPoint Energy, Inc.

CenterPoint Energy, Inc. and Subsidiaries
Results of Operations by Segment
(Millions of Dollars)
(Unaudited)


	Competitive Natural Gas Sales and Services
	Quarter Ended							Nine Months Ended
	September 30,				% Diff			September 30,				% Diff
	2007		2008		Fav/(Unfav)			2007		2008		Fav/(Unfav)
Results of Operations:
Revenues	$	770	$	1,269		65	%	$	2,715	$	3,632		34	%

Expenses:
Natural gas		756		1,225		(62	%)		2,631		3,567		(36	%)
Operation and maintenance		7		8		(14	%)		23		26		(13	%)
Depreciation and amortization		3		1		67	%		4		2		50	%
Taxes other than income taxes		—		—		—			1		1		—

Total		766		1,234		(61	%)		2,659		3,596		(35	%)

Operating Income	$	4	$	35		775	%	$	56	$	36		(36	%)


Competitive Natural Gas Sales and Services Operating Data:
Throughput data in BCF		119		125		5	%		393		392		—


Average number of customers		6,976		9,245		33	%		7,014		8,974		28	%


	Interstate Pipelines
	Quarter Ended							Nine Months Ended
	September 30,				% Diff			September 30,				% Diff
	2007		2008		Fav/(Unfav)			2007		2008		Fav/(Unfav)
Results of Operations:
Revenues	$	137	$	143		4	%	$	348	$	468		34	%

Expenses:
Natural gas		27		24		11	%		55		97		(76	%)
Operation and maintenance		29		47		(62	%)		85		93		(9	%)
Depreciation and amortization		11		11		—			32		34		(6	%)
Taxes other than income taxes		—		6		—			10		17		(70	%)

Total		67		88		(31	%)		182		241		(32	%)

Operating Income	$	70	$	55		(21	%)	$	166	$	227		37	%


Pipelines Operating Data:
Throughput data in BCF
Transportation		312		360		15	%		880		1,145		30	%

Reference is made to the Notes to the Consolidated Financial Statements
contained in the Quarterly Report on Form 10-Q of CenterPoint Energy, Inc.

CenterPoint Energy, Inc. and Subsidiaries
Results of Operations by Segment
(Millions of Dollars)
(Unaudited)


	Field Services
	Quarter Ended								Nine Months Ended
	September 30,					% Diff			September 30,					% Diff
	2007			2008		Fav/(Unfav)			2007			2008		Fav/(Unfav)
Results of Operations:
Revenues	$	44		$	71		61	%	$	125		$	191		53	%

Expenses:
Natural gas		(2	)		5		(350	%)		(9	)		11		(222	%)
Operation and maintenance		17			19		(12	%)		49			48		2	%
Depreciation and amortization		2			3		(50	%)		8			9		(13	%)
Taxes other than income taxes		1			—		—			2			2		—

Total		18			27		(50	%)		50			70		(40	%)

Operating Income	$	26		$	44		69	%	$	75		$	121		61	%


Field Services Operating Data:
Throughput data in BCF
Gathering		104			109		5	%		297			311		5	%


	Other Operations
	Quarter Ended									Nine Months Ended
	September 30,						% Diff			September 30,						% Diff
	2007			2008			Fav/(Unfav)			2007			2008			Fav/(Unfav)
Results of Operations:
Revenues	$	3		$	3			—		$	8		$	8			—
Expenses		4			(4	)		200	%		9			(2	)		122	%

Operating Income (Loss)	$	(1	)	$	7			800	%	$	(1	)	$	10			1,100	%


	Capital Expenditures by Segment
	(Millions of Dollars)
	(Unaudited)
	Quarter Ended				Nine Months Ended
	September 30,				September 30,
	2007		2008		2007		2008
Capital Expenditures by Segment
Electric Transmission & Distribution	$	83	$	80	$	304	$	256
Hurricane Ike		—		141		—		141

Total Electric Transmission & Distribution		83		221		304		397
Natural Gas Distribution		58		57		135		151
Competitive Natural Gas Sales and Services		1		1		5		3
Interstate Pipelines		39		60		253		130
Field Services		15		31		55		77
Other Operations		5		5		22		18

Total	$	201	$	375	$	774	$	776


	Interest Expense Detail
	(Millions of Dollars)
	(Unaudited)
	Quarter Ended						Nine Months Ended
	September 30,						September 30,
	2007			2008			2007			2008
Interest Expense Detail
Amortization of Deferred Financing Cost	$	11		$	6		$	42		$	18
Capitalization of Interest Cost		(3	)		(3	)		(18	)		(10	)
Transition Bond Interest Expense		30			34			93			102
Other Interest Expense		118			113			344			336

Total Interest Expense	$	156		$	150		$	461		$	446

Reference is made to the Notes to the Consolidated Financial Statements
contained in the Quarterly Report on Form 10-Q of CenterPoint Energy, Inc.

CenterPoint Energy, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(Millions of Dollars)
(Unaudited)


	December 31,		September 30,
	2007		2008
ASSETS
Current Assets:
Cash and cash equivalents	$	129	$	84
Other current assets		2,659		2,753

Total current assets		2,788		2,837


Property, Plant and Equipment, net		9,740		10,149


Other Assets:
Goodwill		1,696		1,696
Regulatory assets		2,993		3,219
Other non-current assets		655		1,131

Total other assets		5,344		6,046

Total Assets	$	17,872	$	19,032


LIABILITIES AND SHAREHOLDERS’ EQUITY

Current Liabilities:
Short-term borrowings	$	232	$	150
Current portion of transition bond long-term debt		159		208
Current portion of other long-term debt		1,156		123
Other current liabilities		2,244		2,391

Total current liabilities		3,791		2,872


Other Liabilities:
Accumulated deferred income taxes, net and investment tax credit		2,266		2,713
Regulatory liabilities		828		808
Other non-current liabilities		813		783

Total other liabilities		3,907		4,304


Long-term Debt:
Transition bond		2,101		2,381
Other		6,263		7,416

Total long-term debt		8,364		9,797


Shareholders’ Equity		1,810		2,059

Total Liabilities and Shareholders’ Equity	$	17,872	$	19,032

Reference is made to the Notes to the Consolidated Financial Statements
contained in the Quarterly Report on Form 10-Q of CenterPoint Energy, Inc.

CenterPoint Energy, Inc. and Subsidiaries
Condensed Statements of Consolidated Cash Flows
(Millions of Dollars)
(Unaudited)


	Nine Months Ended September 30,
	2007			2008
Cash Flows from Operating Activities:
Net income	$	291		$	360
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		519			560
Deferred income taxes		23			471
Changes in net regulatory assets		57			(48	)
Changes in other assets and liabilities		(410	)		(584	)
Other, net		12			(35	)

Net Cash Provided by Operating Activities		492			724

Net Cash Used in Investing Activities		(933	)		(991	)

Net Cash Provided by Financing Activities		368			222


Net Decrease in Cash and Cash Equivalents		(73	)		(45	)

Cash and Cash Equivalents at Beginning of Period		127			129


Cash and Cash Equivalents at End of Period	$	54		$	84

Reference is made to the Notes to the Consolidated Financial Statements
contained in the Quarterly Report on Form 10-Q of CenterPoint Energy, Inc.