Texas Genco's Board Authorizes Increased Ownership in STP Nuclear Plant

Texas Genco's Board Authorizes Increased Ownership in STP Nuclear
Plant 


HOUSTON, May 28  /PRNewswire-FirstCall/ -- The Board of Directors of Texas
Genco Holdings, Inc. (NYSE:TGN), a majority-owned subsidiary of CenterPoint
Energy, Inc. (NYSE:CNP), voted to exercise its right of first refusal to
purchase up to the entire 25.2 percent interest in the South Texas Project
Electric Generating Station (STP) that is currently owned by American Electric
Power (AEP).

(Logo:  http://www.newscom.com/cgi-bin/prnh/20030127/DAM020LOGO )

In addition to AEP, the 2,500 megawatt nuclear plant is owned by Texas Genco
(30.8 percent), City Public Service of San Antonio (CPS) (28 percent) and
Austin Energy (16 percent).

AEP had previously announced that it had received an offer of $333 million,
subject to certain adjustments, to purchase its 630 megawatt interest.  Under
the STP Participation Agreement, co-owners wishing to acquire AEP's interest
are entitled to do so at the proposed sale price.

Austin Energy indicated that it will not exercise its right of first refusal,
while CPS indicated that it intends to purchase at least 12 percent or 300
megawatts.  Accordingly, Texas Genco should be entitled to purchase a 13.2
percent interest or 330 megawatts from AEP.

Texas Genco Holdings, Inc., based in Houston, Texas, is one of the largest
wholesale electric power generating companies in the United States with over
14,000 megawatts of generation capacity, of which approximately 2,500 megawatts
are currently in mothball status.  It sells electric generation capacity,
energy and ancillary services in one of the nation's largest power markets, the
Electric Reliability Council of Texas (ERCOT). Texas Genco has one of the most
diversified generation portfolios in Texas, using natural gas, oil, coal,
lignite, and uranium fuels.  The company owns and operates 60 generating units
at 11 electric power-generating facilities and owns a 30.8 percent interest in
a nuclear generating plant.  Texas Genco currently is a majority-owned
subsidiary of CenterPoint Energy, Inc.  For more information, visit our web
site at http://www.txgenco.com/ . 

http://www.newscom.com/cgi-bin/prnh/20030127/DAM020LOGO

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DATASOURCE: Texas Genco Holdings, Inc.



CONTACT:  media, Leticia Lowe, [phone], or investors, Marianne

Paulsen, [phone], both of Texas Genco Holdings, Inc.



Web site:  http://www.centerpointenergy.com/

http://www.txgenco.com/ 

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