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

CENTERPOINT ENERGY, INC.

(Exact name of registrant as specified in its charter)

Texas (State or other jurisdiction of incorporation)		1-31447 (Commission File Number)		74-0694415 (IRS Employer Identification No.)

1111 Louisiana Houston, Texas (Address of principal executive offices)		77002 (Zip Code)

Registrant’s telephone number, including area code: (713) 207-1111

     Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

     o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

     o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

     o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

     o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

ITEM 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION.

     On May 4, 2007, CenterPoint Energy, Inc. (“CenterPoint Energy”) reported first quarter 2007 earnings. For additional information regarding CenterPoint Energy’s first quarter 2007 earnings, please refer to CenterPoint Energy’s press release attached to this report as Exhibit 99.1 (the “Press Release”), which Press Release is incorporated by reference herein. The information in the Press Release is being furnished, not filed, pursuant to Item 2.02. Accordingly, the information in the Press Release will not be incorporated by reference into any registration statement filed by CenterPoint Energy under the Securities Act of 1933, as amended, unless specifically identified therein as being incorporated therein by reference.

ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.

     The exhibit listed below is furnished pursuant to Item 2.02 of this Form 8-K.

	(d)		Exhibits.
	99.1		Press Release issued May 4, 2007 regarding CenterPoint Energy, Inc.’s first quarter 2007 earnings.

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.

EXHIBIT INDEX

EXHIBIT
NUMBER		EXHIBIT DESCRIPTION
99.1		Press Release issued May 4, 2007 regarding CenterPoint Energy, Inc.’s first quarter 2007 earnings

EXHIBIT 99.1

		For more information contact Media: Leticia Lowe Phone 713.207.7702 Investors: Marianne Paulsen Phone 713.207.6500

For Immediate Release		Page 1 of 4

CENTERPOINT ENERGY REPORTS FIRST QUARTER 2007 EARNINGS

     Houston, TX — May 4, 2007 - CenterPoint Energy, Inc. (NYSE: CNP) today reported net income of $130 million, or $0.38 per diluted share, for the first quarter of 2007 compared to $88 million, or $0.28 per diluted share, for the same period of 2006. The first quarter of 2006 included an addition to the tax reserve related to the company’s Zero Premium Exchangeable Subordinated Notes, which reduced net income by $14 million, or $0.04 per diluted share.

     “I am very pleased with our overall results for the quarter,” said David M. McClanahan, president and chief executive officer of CenterPoint Energy. “Our businesses benefited from continued operational improvements, as well as a return to more normal winter weather compared to milder weather last year. I am especially pleased with the performance of our natural gas LDCs this quarter as we are beginning to realize the benefits of our efforts to improve the operating model in these businesses.”

OPERATING INCOME BY SEGMENT DETAILED

Electric Transmission & Distribution

     The electric transmission & distribution segment reported operating income of $104 million in the first quarter of 2007, consisting of $73 million for the regulated electric transmission & distribution utility (TDU) (including $11 million for the competition transition charge (CTC)) and $31 million related to the transition bonds. Operating income for the first quarter of 2006 totaled $110 million, consisting of $78 million for the TDU (including $16 million for the CTC) and $32 million related to the transition bonds.

     The decrease in operating income for the TDU was primarily due to the reduction in the allowed rate of return on the un-recovered CTC balance. Increases in operating income from higher usage primarily due to colder weather and customer growth of nearly 39,000 metered customers since March of 2006, more than offset the impact of the base rate reduction and settlement implemented in October of 2006. In addition, operating income for the first quarter of 2006 benefited from a gain on the sale of land.

Natural Gas Distribution

     The natural gas distribution segment reported operating income of $129 million for the first quarter of 2007 compared to $103 million for the same period of 2006. The increase in operating income was driven by increased usage primarily due to a return to normal weather,

-more-

EXHIBIT 99.1

		For more information contact Media: Leticia Lowe Phone 713.207.7702 Investors: Marianne Paulsen Phone 713.207.6500

For Immediate Release		Page 2 of 4

customer growth of nearly 48,000 customers since March of 2006, and labor and benefit savings associated with staff reductions in 2006. These increases were partially offset by lower final base rates in Minnesota compared to interim rates accrued in the first quarter of 2006, higher expenses associated with improvements to customer service and increased bad debt expense.

Competitive Natural Gas Sales and Services

     The competitive natural gas sales and services segment reported operating income of $56 million for the first quarter of 2007 compared to $25 million for the same period of 2006. The increase was primarily driven by a $28 million gain on sales of gas from inventory partially offset by a $14 million unfavorable change resulting from mark-to-market accounting for non-trading financial derivatives. In addition, the first quarter of 2006 included a $13 million write-down of natural gas inventory to the lower of average cost or market.

Interstate Pipelines

     The interstate pipelines segment reported operating income of $44 million for the first quarter of 2007 compared to $49 million for the same period of 2006. The decrease in operating income was primarily due to an increase in operating expenses and the absence of a favorable natural gas storage adjustment recorded in the first quarter of 2006.

Field Services

     The field services segment reported operating income of $22 million for the first quarter of 2007 compared to $24 million for the same period of 2006. Continued increased demands for gas gathering and ancillary services were more than offset by lower commodity prices occurring in the first quarter of 2007 and increased operating expenses. In addition, this segment recorded equity income of $2 million in each of the first quarters of 2006 and 2007 from its 50 percent interest in a jointly-owned gas processing plant. These amounts are included in Other — net under the Other Income (Expense) caption.

DIVIDEND DECLARATION

     On April 26, 2007, CenterPoint Energy’s board of directors declared a regular quarterly cash dividend of $0.17 per share of common stock payable on June 8, 2007, to shareholders of record as of the close of business on May 16, 2007.

-more-

EXHIBIT 99.1

		For more information contact Media: Leticia Lowe Phone 713.207.7702 Investors: Marianne Paulsen Phone 713.207.6500

For Immediate Release		Page 3 of 4

OUTLOOK FOR 2007

     CenterPoint Energy continues to expect diluted earnings per share for 2007 to be in the range of $1.02 to $1.12. This guidance takes into consideration various economic and operational assumptions related to the business segments in which the company operates. The company has made certain assumptions regarding the impact to earnings of various regulatory proceedings, but cannot predict the ultimate outcome of any of those proceedings. In providing this guidance, the company has not projected the impact of any changes in accounting standards, any impact from acquisitions or divestitures, or the outcome of the TDU’s true-up appeal.

FILING OF FORM 10-Q FOR CENTERPOINT ENERGY, INC.

     Today, CenterPoint Energy, Inc. filed with the Securities and Exchange Commission (SEC) its Quarterly Report on Form 10-Q for the period ended March 31, 2007. A copy of that report is available on the company’s web site, www.CenterPointEnergy.com, under the “Investors” section. Other filings the company makes at the SEC and other documents relating to its corporate governance can also be found on that site.

WEBCAST OF EARNINGS CONFERENCE CALL

     CenterPoint Energy’s management will host an earnings conference call on Friday, May 4, 2007, at 10:30 a.m. Central time or 11:30 a.m. Eastern time. Interested parties may listen to a live audio broadcast of the conference call at www.CenterPointEnergy.com/investors/events. A replay of the call can be accessed approximately two hours after the completion of the call and will be archived on the web site for at least one year.

     CenterPoint Energy, Inc., headquartered in Houston, Texas, is a domestic energy delivery company that includes electric transmission & distribution, natural gas distribution, competitive natural gas sales and services, interstate pipelines and field services operations. The company serves more than five million metered customers primarily in Arkansas, Louisiana, Minnesota, Mississippi, Oklahoma, and Texas. Assets total over $17 billion. With about 8,600 employees, CenterPoint Energy and its predecessor companies have been in business for more than 130 years. For more information, visit the Web site at www.CenterPointEnergy.com.

-more-

EXHIBIT 99.1

		For more information contact Media: Leticia Lowe Phone 713.207.7702 Investors: Marianne Paulsen Phone 713.207.6500

For Immediate Release		Page 4 of 4

     This news release includes forward-looking statements. Actual events and results may differ materially from those projected. The statements in this news release regarding future financial performance and results of operations and other statements that are not historical facts are forward-looking statements. Factors that could affect actual results include the timing and outcome of appeals from the true-up proceedings, the timing and impact of future regulatory, legislative and IRS decisions, effects of competition, weather variations, changes in CenterPoint Energy’s or its subsidiaries’ business plans, financial market conditions, the timing and extent of changes in commodity prices, particularly natural gas, the impact of unplanned facility outages, and other factors discussed in CenterPoint Energy’s and its subsidiaries’ Form 10-Ks for the period ended December 31, 2006, CenterPoint Energy’s Form 10-Q for the period ended March 31, 2007, and other filings with the Securities and Exchange Commission.

###

CenterPoint Energy, Inc. and Subsidiaries
Statements of Consolidated Income
(Millions of Dollars)
(Unaudited)

		Quarter Ended March 31,
		2006				2007
Revenues:
Electric Transmission & Distribution		$	385			$	406
Natural Gas Distribution			1,480				1,567
Competitive Natural Gas Sales and Services			1,163				1,064
Interstate Pipelines			89				90
Field Services			41				39
Other Operations			4				2
Eliminations			(85	)			(62	)
Total			3,077				3,106
Expenses:
Natural gas			2,193				2,150
Operation and maintenance			331				352
Depreciation and amortization			140				145
Taxes other than income taxes			107				106
Total			2,771				2,753
Operating Income			306				353
Other Income (Expense) :
Loss on Time Warner investment			(14	)			(44	)
Gain on indexed debt securities			10				41
Interest and other finance charges			(115	)			(123	)
Interest on transition bonds			(33	)			(31	)
Other — net			6				6
Total			(146	)			(151	)
Income from Before
Income Taxes			160				202
Income Tax Expense			(72	)			(72	)
Net Income		$	88			$	130

Reference is made to the Notes to the Consolidated Financial Statements
contained in the Quarterly Report on Form 10-Q of CenterPoint Energy, Inc.

CenterPoint Energy, Inc. and Subsidiaries
Selected Data From Statements of Consolidated Income
(Millions of Dollars, Except Share and Per Share Amounts)
(Unaudited)

		Quarter Ended
		March 31,
		2006				2007
Basic Earnings Per Common Share:
Net Income		$	0.28			$	0.41
Diluted Earnings Per Common Share:
Net Income		$	0.28			$	0.38
Dividends Declared per Common Share		$	0.15			$	0.17
Weighted Average Common Shares Outstanding (000):
- Basic			310,846				318,060
- Diluted			318,593				340,103
Operating Income (Loss) by Segment
Electric Transmission & Distribution:
Transmission & Distribution Operations		$	78			$	73
Transition Bond Companies			32				31
Total Electric Transmission & Distribution			110				104
Natural Gas Distribution			103				129
Competitive Natural Gas Sales and Services			25				56
Interstate Pipelines			49				44
Field Services			24				22
Other Operations			(5	)			(2	)
Total		$	306			$	353

Reference is made to the Notes to the Consolidated Financial Statements
contained in the Quarterly Report on Form 10-Q of CenterPoint Energy, Inc.

CenterPoint Energy, Inc. and Subsidiaries
Results of Operations by Segment
(Millions of Dollars)
(Unaudited)

		Electric Transmission & Distribution
		Quarter Ended
		March 31,								% Diff
		2006				2007				Fav/(Unfav)
Results of Operations:
Revenues:
Electric transmission and distribution utility		$	331			$	347				5	%
Transition bond companies			54				59				9	%
Total			385				406				5	%
Expenses:
Operation and maintenance			134				154				(15	%)
Depreciation and amortization			63				63				—
Taxes other than income taxes			56				57				(2	%)
Transition bond companies			22				28				(27	%)
Total			275				302				(10	%)
Operating Income		$	110			$	104				(5	%)
Operating Income — Electric transmission and distribution utility			78				73				(6	%)
Operating Income — Transition bond companies			32				31				(3	%)
Total Segment Operating Income		$	110			$	104				(5	%)
Electric Transmission & Distribution
Operating Data:
Actual MWH Delivered
Residential			3,986,390				4,658,059				17	%
Total			15,986,880				16,659,914				4	%
Weather (average for service area):
Percentage of normal:
Cooling degree days			137	%			113	%			(24	%)
Heating degree days			63	%			110	%			47	%
Average number of metered customers:
Residential			1,717,836				1,752,264				2	%
Total			1,950,829				1,989,744				2	%

		Natural Gas Distribution
		Quarter Ended
		March 31,								% Diff
		2006				2007				Fav/(Unfav)
Results of Operations:
Revenues		$	1,480			$	1,567				6	%
Expenses:
Natural gas			1,146				1,212				(6	%)
Operation and maintenance			150				147				2	%
Depreciation and amortization			38				38				—
Taxes other than income taxes			43				41				5	%
Total			1,377				1,438				(4	%)
Operating Income (Loss)		$	103			$	129				25	%
Natural Gas Distribution Operating Data:
Throughput data in BCF
Residential			67				86				28	%
Commercial and Industrial			72				81				13	%
Total Throughput			139				167				20	%
Weather (average for service area)
Percentage of normal:
Heating degree days			84	%			98	%			14	%
Average number of customers:
Residential			2,896,766				2,946,203				2	%
Commercial and Industrial			245,766				245,576				—
Total			3,142,532				3,191,779				2	%

Reference is made to the Notes to the Consolidated Financial Statements
contained in the Quarterly Report on Form 10-Q of CenterPoint Energy, Inc.

CenterPoint Energy, Inc. and Subsidiaries
Results of Operations by Segment
(Millions of Dollars)
(Unaudited)

		Competitive Natural Gas Sales and Services
		Quarter Ended
		March 31,								% Diff
		2006				2007				Fav/(Unfav)
Results of Operations:
Revenues		$	1,163			$	1,064				(9	%)
Expenses:
Natural gas			1,129				998				12	%
Operation and maintenance			8				9				(13	%)
Depreciation and amortization			—				—				—
Taxes other than income taxes			1				1				—
Total			1,138				1,008				11	%
Operating Income		$	25			$	56				124	%
Competitive Natural Gas Sales and Services Operating Data:
Throughput data in BCF
Wholesale — third parties			89				94				6	%
Wholesale — affiliates			11				3				(73	%)
Retail & Pipeline			58				58				—
Total Throughput			158				155				(2	%)
Average number of customers:
Wholesale			145				223				54	%
Retail & Pipeline			6,664				6,764				2	%
Total			6,809				6,987				3	%

		Interstate Pipelines
		Quarter Ended
		March 31,								% Diff
		2006				2007				Fav/(Unfav)
Results of Operations:
Revenues		$	89			$	90				1	%
Expenses:
Natural gas			(2	)			4				300	%
Operation and maintenance			27				27				—
Depreciation and amortization			10				10				—
Taxes other than income taxes			5				5				—
Total			40				46				(15	%)
Operating Income		$	49			$	44				(10	%)
Pipelines Operating Data:
Throughput data in BCF
Transportation			274				294				7	%
Total Throughput			274				294				7	%

Reference is made to the Notes to the Consolidated Financial Statements contained in the Quarterly Report on Form 10-Q of CenterPoint Energy, Inc.

CenterPoint Energy, Inc. and Subsidiaries
Results of Operations by Segment
(Millions of Dollars)
(Unaudited)

		Field Services
		Quarter Ended
		March 31,								% Diff
		2006				2007				Fav/(Unfav)
Results of Operations:
Revenues		$	41			$	39				(5	%)
Expenses:
Natural gas			1				(3	)			400	%
Operation and maintenance			13				16				(23	%)
Depreciation and amortization			3				3				—
Taxes other than income taxes			—				1				—
Total			17				17				—
Operating Income		$	24			$	22				(8	%)
Field Services Operating Data:
Throughput data in BCF
Gathering			88				93				6	%
Total Throughput			88				93				6	%

		Other Operations
		Quarter Ended
		March 31,								% Diff
		2006				2007				Fav/(Unfav)
Results of Operations:
Revenues		$	4			$	2				(50	%)
Expenses			9				4				56	%
Operating Loss		$	(5	)		$	(2	)			(60	%)

Capital Expenditures by Segment
(Millions of Dollars)
(Unaudited)

		Quarter Ended
		March 31,
		2006				2007
Capital Expenditures by Segment
Electric Transmission & Distribution		$	79			$	110
Natural Gas Distribution			40				33
Competitive Natural Gas Sales and Services			6				2
Interstate Pipelines			19				154
Field Services			11				27
Other Operations			10				11
Total		$	165			$	337

Interest Expense Detail
(Millions of Dollars)
(Unaudited)

		Quarter Ended
		March 31,
		2006				2007
Interest Expense Detail
Amortization of Deferred Financing Cost		$	13			$	19
Capitalization of Interest Cost			(1	)			(8	)
Transition Bond Interest Expense			33				31
Other Interest Expense			103				112
Total Interest Expense		$	148			$	154

Reference is made to the Notes to the Consolidated Financial Statements contained in the Quarterly Report on Form 10-Q of CenterPoint Energy, Inc.

CenterPoint Energy, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(Millions of Dollars)
(Unaudited)

		December 31,				March 31,
		2006				2007
ASSETS
Current Assets:
Cash and cash equivalents		$	127			$	60
Other current assets			2,868				2,373
Total current assets			2,995				2,433
Property, Plant and Equipment, net			9,204				9,424
Other Assets:
Goodwill			1,709				1,709
Regulatory assets			3,290				3,248
Other non-current assets			435				392
Total other assets			5,434				5,349
Total Assets		$	17,633			$	17,206
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Liabilities:
Short-term borrowings		$	187			$	337
Current portion of transition bond long-term debt			147				152
Current portion of other long-term debt			1,051				993
Other current liabilities			2,836				2,284
Total current liabilities			4,221				3,766
Other Liabilities:
Accumulated deferred income taxes, net and investment tax credit			2,362				2,271
Regulatory liabilities			792				809
Other non-current liabilities			900				895
Total other liabilities			4,054				3,975
Long-term Debt:
Transition bond			2,260				2,183
Other			5,542				5,635
Total long-term debt			7,802				7,818
Shareholders’ Equity			1,556				1,647
Total Liabilities and Shareholders’ Equity		$	17,633			$	17,206

Reference is made to the Notes to the Consolidated Financial Statements contained in the Quarterly Report on Form 10-Q of CenterPoint Energy, Inc.

CenterPoint Energy, Inc. and Subsidiaries
Condensed Statements of Consolidated Cash Flows
(Millions of Dollars)
(Unaudited)

		Three Months Ended December 31,
		2006				2007
Cash Flows from Operating Activities:
Net income		$	88			$	130
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization			154				164
Deferred income taxes and investment tax credit			4				(13	)
Changes in net regulatory assets			23				22
Changes in other assets and liabilities			23				(56	)
Other, net			23				17
Net Cash Provided by Operating Activities			315				264
Net Cash Used in Investing Activities			(201	)			(403	)
Net Cash Provided by (Used in) Financing Activities			(75	)			72
Net Increase (Decrease) in Cash and Cash Equivalents			39				(67	)
Cash and Cash Equivalents at Beginning of Period			74				127
Cash and Cash Equivalents at End of Period		$	113			$	60

Reference is made to the Notes to the Consolidated Financial Statements contained in the Quarterly Report on Form 10-Q of CenterPoint Energy, Inc.