CenterPoint Closes $2.62 Billion Sale of Ohio Gas Utility

CenterPoint Energy has closed the previously announced $2.62 billion sale of its Ohio natural gas utility business to National Fuel Gas Company, completing another step in the Texas-based utility’s effort to concentrate investment on its core regulated operations.

The transaction covers Vectren Energy Delivery of Ohio and includes around 5,900 miles of natural gas transmission and distribution pipelines serving approximately 335,000 metered customers across West Central Ohio.

National Fuel Gas will immediately take responsibility for serving those customers following the completion of required federal and state approvals, including a review by the Public Utilities Commission of Ohio.

CenterPoint said the proceeds will help finance its broader investment program, which currently calls for $66.7 billion of capital spending over 10 years. The company is directing that spending toward electric and natural gas infrastructure across its remaining utility footprint, with a focus on system reliability, resilience and accommodating economic and demand growth.

The divestment further narrows CenterPoint’s geographic footprint. The company now serves nearly 7 million metered customers through electric transmission and distribution, power generation and natural gas distribution operations in Texas, Indiana and Minnesota.

For National Fuel Gas, the acquisition expands its regulated gas utility business beyond its established operations in Western New York and Pennsylvania and adds a sizeable distribution network in Ohio.

The deal comes as U.S. regulated utilities increasingly rebalance portfolios and recycle capital into higher-priority jurisdictions where they expect stronger infrastructure investment opportunities and more predictable regulatory returns. Rising power demand, grid modernization needs and replacement of aging gas infrastructure have driven multi-billion-dollar capital programs across much of the sector.

CenterPoint reported approximately $48.3 billion of assets as of June 30, 2026 and employs about 8,800 people.

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