The Public Utilities Commission of Ohio cleared the final hurdle for the deal, allowing National Fuel to assume immediate control of the utility infrastructure. The assets represent a significant portion of regional distribution, marking a strategic pivot for the Houston-based CenterPoint as it looks to consolidate its operations elsewhere.
Jason Wells, CEO of CenterPoint Energy, noted the company will redirect the proceeds toward its $66.7 billion, 10-year capital expenditure plan. The investment strategy prioritizes the resiliency and modernization of electric and natural gas systems within the firm’s core utility footprint in Indiana, Minnesota, and Texas. While the sale reshapes the company’s regional presence, leadership emphasized the focus remains on long-term infrastructure reliability and maintaining manageable costs for their remaining 7 million metered customers.
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