The company’s sales price is about 1.9 times the value of its assets used to deliver gas or electricity to customers in Ohio in 2024.
Before the deal is final, it must go through customary legal steps, including getting approval from federal regulators and notifying Public Utilities Commission of Ohio so it can review it.
CenterPoint said it expects the transaction to close in the fourth quarter of 2026.
The company expects to receive a little more than $1.4 billion in 2026, and the remainder, about $1.2 billion, in 2027. This money will come from a payment agreement made when the deal is finalized.
“Our Ohio natural gas business is a strong and growing enterprise supported by a deeply committed local team focused on safety, excellence in execution, and delivering positive outcomes for customers,” CenterPoint Energy Chair and CEO Jason Wells said in a statement. “I would like to thank our Ohio natural gas employees and the other team members across CenterPoint who support this business for their continued dedication and service as we move through this process.
Wells said that the company’s natural gas employees and National Fuel will be focused on delivering “a seamless transition” for the approximately 335,000 customers in West Central Ohio.
He said the CenterPoint is confident that National Fuel, which is headquartered in Western New York, will support the continued growth and success of the business “for the benefit of customers, communities and employees.”
Wells said this deal fits into CenterPoint’s updated 10-year investment strategy.
About the Author
