Natural gas service is changing hands across West Central Ohio after CenterPoint Energy completed the $2.62 billion sale of its Ohio natural gas business to National Fuel Gas Company, the companies announced Thursday.
The deal transfers Vectren Energy Delivery of Ohio — CenterPoint’s Ohio natural gas local distribution company — to National Fuel Gas, which is headquartered in Western New York. The assets include about 5,900 miles of gas transmission and distribution pipeline serving roughly 335,000 metered customers. The transaction received all required federal and state approvals, including review by the Public Utilities Commission of Ohio, and National Fuel has immediately assumed responsibility for the former CenterPoint customers.
“I would like to thank our Ohio natural gas employees and the many team members who support this business for their continued dedication to safety, customer service and operational excellence,” said CenterPoint Chair and CEO Jason Wells, adding that the company is committed to a smooth transition for its Ohio customers.
Wells said proceeds from the sale will help fund CenterPoint’s $66.7 billion, 10-year capital plan — investing in the electric and natural gas systems across its core utility footprint to strengthen resiliency and reliability, support economic growth and keep customer bills as low as possible.
