CenterPoint Energy Completes $2.62 Billion Sale of Ohio Gas Business to National Fuel
CenterPoint Completes $2.62B Ohio Gas Sale to National Fuel
MONTREAL (Oil Monster): CenterPoint Energy has completed the $2.62 billion sale of its Ohio natural gas utility business to National Fuel Gas Company, transferring approximately 5,900 miles of gas pipeline infrastructure and about 335,000 customers to the new owner.
The transaction, completed October 1, 2026, transfers ownership of Vectren Energy Delivery of Ohio, LLC to National Fuel following receipt of the required federal and state approvals.
- CenterPoint completed the sale for $2.62 billion.
- The acquired utility serves approximately 335,000 customers.
- The network includes about 5,900 miles of natural gas transmission and distribution pipelines.
- The utility serves 16 counties in the Dayton and greater Miami Valley region.
- National Fuel has assumed responsibility for customers immediately following closing.
- The business will be renamed National Fuel Gas Distribution of Ohio, LLC.
- CenterPoint plans to use transaction proceeds to help fund its $66.7 billion, 10-year capital investment program.
National Fuel Takes Over Ohio Gas Utility
National Fuel Gas Company has assumed responsibility for operating the former CenterPoint Ohio natural gas business following completion of the transaction.
The utility serves residential, commercial, industrial and transportation customers across West Central Ohio, including the Dayton and greater Miami Valley region.
National Fuel said natural gas service will continue without interruption and customers are not required to take any action as a result of the ownership change.
The acquired company, previously known as Vectren Energy Delivery of Ohio, LLC, will be renamed National Fuel Gas Distribution of Ohio, LLC.
Deal Includes 5,900 Miles of Gas Infrastructure
The acquisition includes approximately 5,900 miles of natural gas transmission and distribution pipelines serving around 335,000 metered customers.
When the transaction was originally announced in October 2025, National Fuel said the Ohio utility delivered approximately 60 billion cubic feet of natural gas annually to customers across its service territory.
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Regulatory Process Completed Ahead of Closing
The transaction closed after the companies satisfied the required closing conditions and completed the necessary federal and state regulatory processes.
That included completion of a review by the Public Utilities Commission of Ohio.
CenterPoint initially announced the sale in October 2025 and had targeted completion during the fourth quarter of 2026.
CenterPoint Redirects Capital to Core Utility Markets
CenterPoint said proceeds from the transaction will help fund investments across its remaining regulated utility businesses.
The company currently plans approximately $66.7 billion of capital investment through 2035, covering electric and natural gas infrastructure across its core service territories.
The 10-year plan was increased during 2026 as CenterPoint identified additional infrastructure investment opportunities.
CenterPoint Chair and CEO Jason Wells said the company remains focused on improving the reliability and resilience of its electric and natural gas systems while supporting economic growth across its remaining markets.
National Fuel Expands Regulated Utility Business
For National Fuel, the acquisition significantly increases the scale of its regulated natural gas utility operations.
National Fuel President and CEO David Bauer described completion of the acquisition as an important step in the company's strategy to expand its regulated utility business.
The addition of the Ohio operation gives National Fuel a larger customer base and additional regulated infrastructure beyond its existing utility operations.
CenterPoint Thanks Ohio Utility Workforce
Wells thanked employees of the Ohio natural gas business for their work in safety, customer service and reliable utility operations over several decades.
CenterPoint said it has worked with National Fuel throughout the transition process to support continuity for customers and employees.
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What Happens Next
National Fuel now assumes full responsibility for the former CenterPoint Ohio gas utility and its approximately 335,000 customers.
The ownership change does not require customers to take action, and natural gas service is expected to continue normally as the business transitions to the National Fuel Gas Distribution of Ohio name.
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Sources: CenterPoint Energy Inc.; National Fuel Gas Company.