At CenterPoint Energy’s Investor Day at the end of last year, company leaders informed stakeholders, including investors and analysts, about the company’s new strategy for unleashing potential and maximizing value. The cornerstones of the new strategy are prioritizing investments in the regulated utility businesses to improve the safety, service, reliability, and resiliency of CenterPoint Energy’s systems, while supporting a transition to a cleaner energy future. This strategy will be accomplished by investing in and empowering the company’s greatest assets – the employees. As the most critical piece of the strategy, employees will drive the ability to deliver consistent results. This will be accomplished by focusing on the core regulated utility businesses, by capitalizing on unique organic growth opportunities, and through a relentless commitment to executing the strategy with a continued focus on company values.
Critical to maintaining growth is delivering on reductions of 1-2% on Operating and Maintenance (O&M) expenses through Continuous Improvement (CI). CenterPoint Energy believes that winning organizations are the ones committed to getting better every day through CI. The CI implementation isn’t a short-term special program, initiative, or something merely to be talked about; it must be embedded into the culture. This increased focus on CI is an integral part of CenterPoint Energy’s commitment to reduce O&M as it will allow the company to meet increased capital spend targets as well as provide rate relief opportunities for its customers, while maintaining focus on safety as a priority.
CI is one of the seven pillars of CenterPoint Energy’s strategic plan to deliver on the promise to shareholders and customers, and a powerful tool to enable the workforce to create solutions to everyday problems. Employees hold the keys to success. Subject matter experts – across every business, function and level – have the knowledge and experience to make cost discipline and continuous improvement a priority. Employees must continuously challenge themselves and their colleagues to find ways to become safer, more efficient and more effective. While a lot of work remains to be done, this is a defining moment in CenterPoint Energy’s long, proud history as the new strategy will continue to grow the premium regulated utilities and maximize the advantages of this growth for customers, shareholders and employees.