HIGHBuilt-inRegulatory
PUCT (Texas)
“10-K Item 1: 'Houston Electric is a transmission and distribution electric utility that operates wholly within the state of Texas.'”
CNP · Concentration risk · 10-K extracted
CenterPoint Energy, Inc (Holdin (CNP) concentration risks
Updated
The most significant concentration CenterPoint Energy, Inc (Holdin discloses is PUCT (Texas), classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: CenterPoint Energy, Inc (Holdin’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 4 disclosed concentrations
HIGH2
MEDIUM2
LOW0
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
HIGHOutside partySupplier
Sunrise LLC
“10-K Item 1: 'Sunrise LLC accounted for 100% of Indiana Electric's coal purchases.'”
MEDIUMOutside partySupplier
Tenaska Marketing Ventures
“10-K Item 1: 'Tenaska Marketing Ventures, LLC | 32 | % | | 30 | %'”
MEDIUMOutside partyCustomer
NRG and Vistra Energy Corp. affiliates
“10-K Item 1A: 'A significant portion of Houston Electric's billed receivables from REPs are due from affiliates of NRG and Vistra Energy Corp.'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-06-24The utility's concentration profile combines a high-share regulatory dependency, a high-share single-supplier fuel relationship, and two moderate-share vendor and customer exposures, all of which are structural features of operating regulated utility infrastructure. The most significant structural exposure is regulatory: the Houston Electric transmission and distribution business operates wholly within the state of Texas, a high-share geographic and regulatory concentration that places the entire electric utility footprint under a single state commission's jurisdiction. Tariff decisions, capital recovery mechanisms, and storm cost recovery at the Texas regulator determine a large portion of the allowed earnings stream. Layered on this is a high-share fuel supply dependency: Sunrise LLC accounted for 100% of Indiana Electric's coal purchases. A single-source fuel arrangement at that scale is a dependency exposure with no disclosed backup; any disruption to Sunrise's delivery capability or pricing would directly affect generation economics for that subsidiary. The gas supply side carries a moderate dependency: Tenaska Marketing Ventures, LLC is disclosed as a significant supplier, though the exact percentage appears only in a pipe-delimited table and is not citable. On the customer side, a significant portion of Houston Electric's billed receivables from retail electricity providers are due from affiliates of NRG and Vistra Energy Corp., a moderate-share counterparty credit concentration typical of the deregulated Texas retail market. The overall profile reflects the concentrated, regulated nature of utility operations rather than idiosyncratic commercial decisions.
For the engine’s reasoning on CNP’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Utilities - Regulated Electric
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| CNP● | CenterPoint Energy, Inc (Holdin | 2 | 2 | 0 | 4 |
| D | Dominion Energy, Inc. | 2 | 1 | 0 | 3 |
| AEE | Ameren Corporation | 2 | 0 | 0 | 2 |
| DTE | DTE Energy Company | 2 | 0 | 0 | 2 |
| AEP | American Electric Power Company | 0 | 2 | 0 | 2 |
| CMS | CMS Energy Corporation | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.