Regulatory Matters

The following is a list of regulatory assets/liabilities reflected on CenterPoint Houston’s Consolidated Balance Sheets as of December 31, 2015 and 2014:



	December 31,
	2015			2014
	(in millions)
Securitized regulatory assets	$	2,373		$	2,738
Unrecognized equity return (1)	(393		)	(442		)
Unamortized loss on reacquired debt	93			104
Pension and postretirement-related regulatory asset	50			107
Other long-term regulatory assets (2)	88			122
Total regulatory assets	2,211			2,629

Estimated removal costs	350			353
Other long-term regulatory liabilities	192			184
Total regulatory liabilities	542			537

Total regulatory assets and liabilities, net	$	1,669		$	2,092

(1)

As of December 31, 2015, CenterPoint Houston has not recognized an allowed equity return of $393 million because such return will be recognized as it is recovered in rates through 2024. During the years ended December 31, 2015, 2014 and 2013, CenterPoint Houston recognized approximately $49 million, $68 million and $45 million, respectively, of the allowed equity return. The timing of CenterPoint Houston’s recognition of the allowed equity return will vary each period based on amounts actually collected during the period. The actual amounts recovered for the allowed equity return are reviewed and adjusted at least annually by the Texas Utility Commission to correct any over-collections or under-collections during the preceding 12 months and to provide for the full and timely recovery of the allowed equity return.


(2)	Other regulatory assets that are not earning a return were not material as of December 31, 2015 and 2014.