-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, EttgkWNBCB+fxyTEO/UEj2zwcgEVYP82IHWMUi5kth5pr/+hd3ZYf/gzIBj3f/x/ IEIwjPnFlG1BbLO/Uju02A== 0000950129-04-001161.txt : 20040310 0000950129-04-001161.hdr.sgml : 20040310 20040310170229 ACCESSION NUMBER: 0000950129-04-001161 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20040304 ITEM INFORMATION: Other events FILED AS OF DATE: 20040310 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CENTERPOINT ENERGY INC CENTRAL INDEX KEY: 0001130310 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 740694415 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-31447 FILM NUMBER: 04660819 BUSINESS ADDRESS: STREET 1: 1111 LOUISIANT ST. CITY: HOUSTON STATE: TX ZIP: 77002 BUSINESS PHONE: 7132073000 MAIL ADDRESS: STREET 1: 1111 LOUISIANT ST. CITY: HOUSTON STATE: TX ZIP: 77002 FORMER COMPANY: FORMER CONFORMED NAME: RELIANT ENERGY REGCO INC DATE OF NAME CHANGE: 20001220 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CENTERPOINT ENERGY HOUSTON ELECTRIC LLC CENTRAL INDEX KEY: 0000048732 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 223865106 STATE OF INCORPORATION: TX FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-03187 FILM NUMBER: 04660818 BUSINESS ADDRESS: STREET 1: 1111 LOUISIANA CITY: HOUSTON STATE: TX ZIP: 77002 BUSINESS PHONE: 7132073000 MAIL ADDRESS: STREET 1: 611 WALKER CITY: HOUSTON STATE: TX ZIP: 77002 FORMER COMPANY: FORMER CONFORMED NAME: RELIANT ENERGY INC DATE OF NAME CHANGE: 19990513 FORMER COMPANY: FORMER CONFORMED NAME: HOUSTON INDUSTRIES INC DATE OF NAME CHANGE: 19970807 FORMER COMPANY: FORMER CONFORMED NAME: HOUSTON LIGHTING & POWER CO DATE OF NAME CHANGE: 19920703 8-K 1 h13481e8vk.txt CENTERPOINT ENERGY, INC.- MARCH 4, 2004 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): MARCH 4, 2004 ------------------------------ CENTERPOINT ENERGY, INC. (Exact name of registrant as specified in its charter) TEXAS 1-31447 74-0694415 (State or other jurisdiction (Commission File Number) (IRS Employer of incorporation) Identification No.) 1111 LOUISIANA HOUSTON, TEXAS 77002 (Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (713) 207-1111 ------------------------------ CENTERPOINT ENERGY HOUSTON ELECTRIC, LLC (Exact name of registrant as specified in its charter) TEXAS 1-3187 22-3865106 (State or other jurisdiction (Commission File Number) (IRS Employer of incorporation) Identification No.) 1111 LOUISIANA HOUSTON, TEXAS 77002 (Address of principal executive offices) (Zip Code)
Registrants' telephone number, including area code: (713) 207-1111 ------------------------------ ITEM 5. OTHER EVENTS AND REGULATION FD DISCLOSURE. FUEL RECONCILIATION PROCEEDING In 2003 hearings were concluded in the final fuel reconciliation proceeding filed by CenterPoint Energy Houston Electric, LLC ("CenterPoint Houston"), a wholly-owned indirect subsidiary of CenterPoint Energy, Inc. (the "Company"), before the Public Utility Commission of Texas ("Utility Commission"). The final fuel over- or under-recovery balance determined in that proceeding is to be included in CenterPoint Houston's stranded cost true up proceeding that is expected to be filed on March 31, 2004. On March 4, 2004, the Administrative Law Judge ("ALJ") who conducted the hearings in the fuel reconciliation recommended that CenterPoint Houston not be allowed to recover $87 million in fuel expenses incurred during the reconciliation period. When interest on the disallowed amounts is taken into consideration, the total recommended disallowance is approximately $117 million on a pre-tax basis, or $76 million after tax. The ALJ's recommendation is not a final decision but rather is a recommended decision to be acted on by the full Utility Commission in April. At that time the Utility Commission may accept or modify the ALJ's recommendation. CenterPoint Houston will oppose the proposed disallowance of the $87 million in fuel expenditures, but no assurance can be given that the Company will prevail. EFFECT ON 2003 EARNINGS Although the ALJ's recommendation is not a final decision, the Company is establishing a reserve against 2003 results in the amount of $76 million, representing the after-tax impact of the $117 million proposed disallowance. CenterPoint Houston is also establishing a reserve to reflect the proposed disallowance. Uncertainty around the ultimate recovery of those amounts in light of other recent actions of the Utility Commission precludes continuing to consider these amounts "probable" of recovery. Establishing these reserves will reduce previously announced fourth quarter 2003 income from continuing operations for the Company from $149 million, or $0.48 per diluted share, to $72 million, or $0.23 per diluted share. For the year 2003, previously announced income from continuing operations before cumulative effect of accounting change will be reduced from $496 million, or $1.62 per diluted share to $420 million, or $1.37 per diluted share. Consolidated financial statements for the Company and CenterPoint Houston reflecting the establishment of these reserves will be included in their annual reports on Form 10-K for the year ended December 31, 2003. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. CENTERPOINT ENERGY, INC. Date: March 10, 2004 By: /s/ James S. Brian ----------------------------------- James S. Brian Senior Vice President and Chief Accounting Officer SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. CENTERPOINT ENERGY HOUSTON ELECTRIC, LLC Date: March 10, 2004 By: /s/ James S. Brian ------------------------------------ James S. Brian Senior Vice President and Chief Accounting Officer -----END PRIVACY-ENHANCED MESSAGE-----