CenterPoint Energy, Inc. (NYSE:CNP) Q4 2022 Earnings Call Transcript

Jeremy Tonet: Got it. Very helpful. I’ll leave it there. Thanks.

Jackie Richert: Operator, I think we have time for one more question.

Operator: Thank you. Our last question is from Durgesh Chopra with Evercore ISI. Your line is open.

Durgesh Chopra: Hey. Good morning, team.

David Lesar: Good morning, Durgesh.

Durgesh Chopra: Good morning, Dave. All my questions have been answered. Maybe just one, the wind project that you mentioned in the Indiana IRP update section, Slide 8. Just any color you can share with us on that project?

Jason Wells: Thanks, Durgesh. I appreciate the other question. I think it’s early days in the application there. So we anticipate that project probably being approved kind of towards the end of 2023. But just given kind of where we are in the stage of filing, as well as finalizing the bill transfer agreement, I’d rather keep the comments brief. I think overall, what we tried to highlight in the prepared remarks is that when we set out on this first phase of this integrated resource plan, we had an objective of owning about 50% of the renewables that we’re proposing and contracting for 50% of the balance. The way it’s working out with this wind project that we will ultimately own, as well as the solar projects that we previously filed, I think we’re on track now to own roughly 60% of the renewables and contract for 40%. So a slight improvement versus our original objectives as we are executing on this first round of the Integrated Resource Plan.

Durgesh Chopra: Understood. Thanks, Jason. Appreciate you wearing all the hats today. Thanks so much.

Jason Wells: Thanks, Durgesh.

Jackie Richert: All right, operator. That’s going to be our last Q&A for this quarter. I want to thank everyone for joining the call today. And I hope everyone has a great afternoon and a long weekend. Take care.

Operator: This concludes CenterPoint Energy’s fourth quarter earnings conference call. Thank you for your participation.