National Fuel closes $2.62B purchase of CenterPoint's Ohio gas utility
CenterPoint Energy completed the $2.62 billion sale of Vectren Energy Delivery of Ohio to National Fuel Gas, which will rename the business National Fuel Gas Distribution of Ohio. The assets include about 5,900 miles of pipeline serving roughly 335,000 customers in West Central Ohio. The deal doubles National Fuel's utility rate base and lifts its customer count to about 1.1 million.
Why it matters: CenterPoint is recycling capital into a $66.7 billion ten-year plan while National Fuel doubles down on regulated earnings.
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