CenterPoint completes $2.62 billion Ohio gas business sale
- CenterPoint Energy (NYSE:CNP) completed the sale of its Ohio natural gas distribution business to National Fuel Gas Company for $2.62 billion.
- The transaction transfers Vectren Energy Delivery of Ohio, which serves approximately 335,000 metered customers across West Central Ohio.
- CenterPoint plans to use proceeds to support regulated utility investments and its $66.7 billion, 10-year capital plan.
CenterPoint Energy (NYSE:CNP) completed the sale of its Ohio natural gas distribution business, Vectren Energy Delivery of Ohio, to National Fuel Gas Company for $2.62 billion.
The divested business includes approximately 5,900 miles of natural gas transmission and distribution pipeline serving about 335,000 metered customers throughout West Central Ohio.
The transaction received all required federal and state approvals, including approval from the Public Utilities Commission of Ohio, allowing National Fuel to immediately assume responsibility for former CenterPoint customers.
CenterPoint stated that proceeds from the sale will support investments across its regulated utility operations and help fund its $66.7 billion, 10-year capital investment plan.
The sale represents a strategic adjustment of CenterPoint’s utility portfolio as the company focuses on infrastructure investments across its remaining regulated markets.
