CenterPoint Energy is a regulated electric and natural gas utility serving customers primarily in Texas and Indiana, delivering electricity and natural gas under rates approved by state utility regulators. As a regulated utility, its earnings are tied to a rate of return approved by regulators on the capital it invests in its electric grid and gas distribution infrastructure, providing predictable earnings in exchange for accepting limits on customer rates. The company's Houston-area electric infrastructure has faced significant scrutiny and investment needs following major hurricanes and storms that caused widespread power outages, driving substantial grid resiliency spending in recent years. CenterPoint's growth is tied to the rate base expansion it can achieve through regulator-approved infrastructure investment, along with population and economic growth across its Texas and Indiana service territories.