Exhibit
99.4





INDEPENDENT
ACCOUNTANTS’ REPORT


The
Member of
 CenterPoint
Energy Houston Electric, LLC
  We have
examined management's assertion that CenterPoint Energy Houston Electric,
LLC(the
"Company") has complied, in all material respects, as of and for the year ended
December 31, 2008, with the established minimum servicing standards applicable
to CenterPoint Energy Transition Bond Company, LLC for the Transition Property
Servicing Agreement dated October 24, 2001 described in the accompanying
Management’s Assertion of Compliance with Servicing Standards dated March 31,
2009, including Appendix I thereto.  Management is
responsible for the Company's compliance with those minimum servicing
standards.  Our responsibility is to express an opinion on management's
assertion about the Company's compliance based on our examination.
   Our
examination was conducted in accordance with attestation standards established
by the American Institute of Certified Public Accountants, and, accordingly,
included examining, on a test basis, evidence about the Company's compliance
with its minimum servicing standards and performing such other procedures as we
considered necessary in the circumstances.  We believe that our examination
provides a reasonable basis for our opinion.  Our examination does not
provide a legal determination on the Company's compliance with its minimum
servicing standards.
   In our
opinion, management's assertion that the Company complied, in all material
respects, with the aforementioned minimum servicing standards as of and for the
year ended December 31, 2008, is fairly stated, in all material respects, based
on the criteria set forth in the aforementioned Appendix I.
   DELOITTE
& TOUCHE LLP
  Houston,
Texas
 March 31,
2009







MANAGEMENT’S
ASSERTION OF COMPLIANCE WITH SERVICING STANDARDS





As of and
for the year ended December 31, 2008, CenterPoint Energy Houston Electric, LLC
(the “Company”) has complied, in all material respects, with the Company’s
established minimum servicing standards for the Transition Property Servicing
Agreement dated as of October 24, 2001 by and between CenterPoint Energy
Transition Bond Company, LLC (successor to Reliant Energy Transition Bond
Company LLC), as Issuer, and the Company (successor to Reliant Energy,
Incorporated), as Servicer, as set forth in Appendix I attached
hereto.





Dated:
March 31, 2009











/s/
      Marc KilbrideMarc
      KilbrideVice
      President and TreasurerCenterPoint
      Energy Houston Electric, LLC
















APPENDIX
I





CENTERPOINT
ENERGY HOUSTON ELECTRIC, LLC’S MINIMUM SERVICING STANDARDS





I.
GENERAL SERVICING AND ADMINISTRATION





1.
Policies and procedures are instituted to monitor whether or not a Servicer
Default has occurred under the Transition Property Servicing Agreement dated as
of October 24, 2001, by and between CenterPoint Energy Transition Bond
Company, LLC (successor to Reliant Energy Transition Bond Company LLC), as
Issuer (the “Issuer”), and CenterPoint Energy Houston Electric, LLC (successor
to Reliant Energy, Incorporated), as Servicer (the “Servicing
Agreement”).





II.
MAINTENANCE OF COLLATERAL OR SECURITY





1.  Collateral
or security on the Transition Bonds, Series 2001-1 of the Issuer (the
“Transition Bonds”) is maintained as required by the Servicing Agreement.
(Servicing Agreement § 3.04(f))





2.
Deposit amounts are analyzed, in accordance with the Public Utility Commission
of Texas (“PUCT”) rules no more frequently than quarterly, upon the request of
either the retail electric provider (“REP”) or the Servicer, to ensure that any
deposits for REPs required under the Financing Order of the PUCT under Docket
No. 21665 (the “Financing Order”) accurately reflect two months’ maximum
collections. (Annex 1 to the Servicing Agreement § 8(a)(ii))





3.
Deposits held in trust for an REP are returned to the REP within ten (10)
calendar days of a reduction in activity qualifying for a deposit reduction as
set forth in the Servicing Agreement. (Annex 1 to the Servicing Agreement §
8(a)(ii))  The Servicer’s procedure is to notify the REP when it holds
funds in excess of current required deposit amounts and act in accordance with
the REP’s instructions as to return of the funds.





III.
TRUE-UP OF TRANSITION CHARGES





1. A
true-up of transition charges is prepared and filed annually (as provided in the
definition of Calculation Date) with the PUCT. (Annex 1 to the Servicing
Agreement § 7)





IV.
BILLING, COLLECTION AND REMITTANCE OF TRANSITION CHARGES





1. The
Servicer calculates and bills the transition charges to the REPs. (Servicing
Agreement § 3.01(a)(ii))





2.
Payments of transition charges made by the REPs are remitted to the Trustee (as
defined in the Servicing Agreement) on or before the second business day after
receipt. (Servicing Agreement § 5.11)





1




3.
Accrued Interest (as defined in the Servicing Agreement) is paid by the Servicer
from the date or dates transition charges were received to the date such
transition charges were remitted to the Trustee. (Servicing Agreement §
3.03(c)(i))





4.
Pursuant to the Servicing Agreement, the Servicer charges a five percent (5%)
penalty on all transition charges billed to an REP but not paid by the close of
business on the 35th day
following each billing by the Servicer to the REP.  (Servicing
Agreement § 3.02(c))





5. An REP
is considered to be in default after 45 calendar days, after which time the
Servicer will direct the application of the security deposit to the transition
charges the REP has failed to remit and avail itself of such legal remedies as
may be appropriate to collect any remaining unpaid transition charges and
associated penalties. (Annex 1 to the Servicing Agreement § 9(b))





6. For
each REP, a reconciliation of the amount held back for uncollectible transition
charges and the amount actually written off as uncollectible during the time
period is performed annually and the resulting balance is either remitted to or
collected from the REP.  (Annex 1 to the Servicing Agreement §
4(b))





V.
INVESTOR AND TRUSTEE REPORTING





1.
Semiannual Servicer’s Certificates are prepared in the timeframe set forth in
and delivered to the parties required under the Servicing Agreement. (Servicing
Agreement § 3.05 and Annex 1 to the Servicing Agreement § 6)





2.
Semiannual Servicer’s Certificates provide the information specified by and
calculated in accordance with the terms of the Servicing Agreement. (Annex 1 to
the Servicing Agreement § 6)





3.
Servicer’s Annual Statement as to Compliance is prepared in the timeframe set
forth in and delivered to the parties required under the Servicing Agreement.
(Servicing Agreement § 3.06)





4. The
Servicer causes a registered public accounting firm to prepare, and the Servicer
delivers


the
Annual Accountant’s Report in the timeframe set forth in and delivered to the
parties required under the Servicing Agreement. (Servicing Agreement §
3.07)





5.
Servicer’s Calculation Date Statement is prepared in the timeframe set forth in
and delivered to the parties required under the Servicing Agreement. (Annex 1 to
the Servicing Agreement § 3)





6.
Servicer’s Calculation Date Statement provides the information specified in
Annex 1 to the Servicing Agreement. (Annex 1 to the Servicing Agreement §
3)





VI.
OPINIONS OF COUNSEL





1. The
Servicer causes counsel to prepare, and the Servicer delivers an opinion of
counsel to the parties required under the Servicing Agreement promptly after the
execution and delivery of




2




each
amendment to the Servicing Agreement or the Sale Agreement (as defined in the
Servicing Agreement). (Servicing Agreement § 3.11(a))





2. The
Servicer causes counsel to prepare, and the Servicer delivers an opinion of
counsel to the parties required under the Servicing Agreement within ninety (90)
days after the beginning of each calendar year per the Servicing
Agreement.  (Servicing Agreement § 3.11(b))





VII. MAINTENANCE
OF RECORDS





1. The
Servicer conducts, or causes to be conducted, periodic audits of the Transition
Property Documentation (as defined in the Servicing Agreement) held by it under
the Servicing Agreement and of the related accounts, records and computer
systems and provides the audit report to the Issuer and the
Trustee.  (Servicing Agreement § 3.09(a))


3