CenterPoint Competitive Gas Supplier Reports Flat Earnings

May 17, 2011
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CenterPoint's Competitive Natural Gas Sales and Services unit reported adjusted earnings of $12 million for the first quarter of 2011, flat versus the year-ago quarter, the company announced earlier this month.

The adjusted earnings exclude the impacts from mark-to-market accounting associated with certain hedges.

Operating income, which includes these impacts, for the Competitive Natural Gas Sales and Services business was $10 million for the quarter, compared to $15 million a year ago.

CenterPoint executives said that the competitive retail division had a "good quarter," experiencing increases in both the number of customers it serves (versus the year-ago) and sales volumes.

The competitive unit reported 11,942 customers as of March 31, 2011, slightly down from 12,193 as of December 31, 2010, but up from 11,369 a year ago.

Quarterly throughput for the competitive unit was 155 Bcf versus 141 Bcf in the year-ago quarter.

Revenues from the competitive business in the quarter were $706 million versus $852 million a year ago.

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