CenterPoint reaches $2.62 billion deal to sell Ohio natural gas distribution system
(UI) — CenterPoint Energy has agreed to sell its Ohio natural gas distribution business, Vectren Energy Delivery of Ohio, LLC, to National Fuel Gas Company in a $2.62 billion transaction. The sale includes roughly 5,900 miles of transmission and distribution pipeline serving about 335,000 customers across West Central Ohio.
The deal, valued at approximately 1.9 times the 2024 rate base of CenterPoint’s Ohio Local Distribution Company, marks the latest step in the utility’s strategy to streamline its operations and recycle capital into higher-growth areas of its regulated footprint. CenterPoint said proceeds from the sale will help support its $65 billion capital plan and future investments in electric and natural gas infrastructure across its Texas, Indiana and Minnesota markets.
Pending regulatory review, including Hart-Scott-Rodino clearance and approval from the Public Utilities Commission of Ohio, the transaction is expected to close in late 2026. CenterPoint anticipates receiving $1.42 billion in proceeds at closing, with the remaining $1.20 billion to follow in 2027 under a seller note arrangement.
The sale continues a broader industry trend of utilities divesting non-core regional assets to concentrate on larger, integrated energy systems. CenterPoint said it remains committed to ensuring a smooth transition for customers and employees, with National Fuel Gas assuming operational control upon completion.
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