CenterPoint sells Ohio gas business for $2.62 B
The divestment to National Fuel Gas will support CenterPoint’s $65 B capital plan and sharpen its focus on core utility operations.
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USA, Ohio: CenterPoint Energy, Inc. has announced an agreement to sell its Ohio natural gas distribution business, Vectren Energy Delivery of Ohio, LLC, to National Fuel Gas Company for $2.62 B.
The transaction, which values the business at 1.9 times its projected 2024 rate base, includes approximately 9,500 km (5,900 mi) of transmission and distribution pipeline serving 335,000 customers across West Central Ohio.
CenterPoint expects to close the deal in late 2026, receiving $1.42 B in that year and the remaining $1.20 B in 2027 through a seller note. The sale remains subject to customary closing conditions, including regulatory reviews by the Public Utilities Commission of Ohio and Hart-Scott-Rodino clearance.
Chair and CEO Jason Wells said the sale reflects the company’s commitment to efficiently recycling capital to fund its $65 B investment plan, while ensuring a smooth transition for customers. “We are confident that National Fuel will support the continued growth and success of the business for the benefit of customers, communities, and employees,” he said.
Wells added that the transaction will allow CenterPoint to reprioritise future capital investments across its regulated electric and natural gas operations in Texas, Indiana, and Minnesota, while maintaining its non-GAAP EPS growth target of 9 % for 2025 and its long-term growth outlook through 2035.
Source: Business Wire
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