CenterPoint plans $70.7 billion in capital spending through 2035, an increase from earlier projections.
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Another $4 billion — that’s how much more CenterPoint Energy plans to spend on capital projects over 10 years, according to a quarterly earnings call from the Houston-based energy utility on Oct. 27.
That will bring total planned capital expenditures through 2035 to $70.7 billion, an approximately 6 percent increase from the $66.7 billion the company announced in July. CenterPoint officials also announced plans to move about $1.5 billion of capital spending projects from the latter part of the 10-year plan to the first half.
Contributing to this explosion of new spending is 14 gigawatts of additional demand the company expects to come online through 2030, much driven by large manufacturing and AI data centers.
CenterPoint reported that $51.5 billion of its capital expenditures will apply to its electric holdings and $19.8 billion to its gas operations. The remainder will go to corporate operations. The company also may later announce plans for $10 billion in additional capital spending through 2034, much of it for Houston-area infrastructure projects.
“This incredible demand is creating a powerful multiplier effect, as large industrial expansions drive broader commercial growth across our service territory,” CenterPoint Chief Executive Officer Jason Wells said during the earnings call. “Notably, industrial and commercial leasing activity in the Houston area is up more than 30 percent from last year.”
This year alone the company received nearly 1 GW of distribution-level load requests, according to Wells.
CenterPoint on the Oct. 27 call also reported it had submitted 17 GW of projects to the Electric Reliability Council of Texas’ large-load interconnection study process.
The company also announced another uptick in revenues. The utility reported net income of $331 million in third quarter revenue, up nearly 13 percent from the $293 million it reported during the same period in 2025. The utility also announced increased earnings per share for its investors.
Company officials said that increased demand growth will put downward pressure on customer rates in the coming years. However, it also noted that regulatory mechanisms that allow for quick investment recovery through regular rate increases will allow it to continue growing its revenues.
Mr. Wells said the company may seek changes on the “legislative front” to allow it to recover revenues more quickly from ratepayers for transmission projects. The 90th Texas Legislature convenes in Austin in January.