CenterPoint Reports $8.3 Billion Five-year Capital Spending Plan

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Researched by Industrial Info Resources (Sugar Land, Texas)--Electricity and natural gas utility CenterPoint Energy Incorporated (NYSE:CNP) (Houston, Texas) recently announced its 2018-22 capital investment plan. The company plans to spend $8.3 billion over the five-year period. This represents an 18% increase over the company's previous 2017-21 capital plan.

Among the projects included in the plan is the Freeport Area Master Plan project, which is intended to provide additional power to expected load growth in the Freeport, Texas, area. The project includes construction of a new substation, enhancement of another, and construction of 345-kilovolt (kV) double-circuit transmission line. The line will run 48 miles from the new Bailey substation near Wharton, Texas, to the existing Jones Creek substation in Freeport. The Electric Reliability Council of Texas (ERCOT) (Austin, Texas) recently endorsed the project, saying there was a need for increased power to the area due to the growth of the petrochemical industry. CenterPoint expects that the Texas Public Utility Commission will provide a decision on the project in 2019. The project has a combined total investment value (TIV) of $250 million. For more information, see Industrial Info's project reports on the transmission line, Jones Creek substation and Bailey substation, as well as December 19, 2017, article - ERCOT Board Endorses Transmission Build-Out for Freeport, Texas.

Many of the CenterPoint projects being tracked by Industrial Info involve the build-out of transmission infrastructure in Texas. Near Jewett, Texas, CenterPoint is constructing an overhead, double-circuit 345-kV transmission line from the Limestone substation to the Gibbons substation. The line will run approximately 67 miles. L.E. Myers Incorporated (Pasadena, Texas) is performing engineering, procurement and construction on the project, which has an estimated TIV of $98 million. The project began in the second quarter of last year and is expected to take about a year to complete. For more information, see Industrial Info's project report.

In another area of strong petrochemical activity, near Brazoria, Texas, CenterPoint is constructing a transmission line and substation. The projects will help support Freeport LNG Development LP's (Houston) gas treatment plant. The 138-kV line will run from the new Oyster Creek substation in Brazoria to Freeport LNG's plant. The projects have a combined TIV of $26.9 million. Construction began in the second quarter of 2016 and is expected to be wrapped up soon. For more information, see Industrial Info's project reports on the substation and overhead transmission line.

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