CenterPoint lowers consolidated debt to $6.7 billion at Dec. 31

By Jennifer Lanning Drey

Savannah, Ga., March 1 - CenterPoint Energy, Inc. reduced its corporate consolidated debt to $6.7 billion at year-end 2010 from $7 billion at the start of the year, Gary Whitlock, its chief financial officer, said Tuesday during the company's fourth-quarter and year-end earnings conference call.

The figure excludes securitization debt, he noted.

"We are very pleased with the steps we have taken during the year to strengthen our balance sheet and enhance our credit metrics to ensure that we maintain the financial flexibility to effectively execute our business plan," Whitlock said.

At the same time, CenterPoint funded a $1.46 billion capital program in 2010, he said.

CenterPoint reported fourth-quarter net income of $124 million, compared to net income of $105 million for the same period of 2009. Full-year net income was $442 million for 2010, compared to net income of $372 million in 2009.

CenterPoint is a Houston-based energy delivery company.

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