National Fuel to Acquire CenterPoint Ohio for $2.62B
National Fuel Gas Company (NFG) is proceeding with the acquisition of Vectren Energy Delivery of Ohio, LLC (CenterPoint Ohio) from CenterPoint Energy Resources Corp. for an aggregate purchase price of $2.62 billion. The payment will consist of $1.42 billion in cash and a $1.2 billion promissory note. The transaction is anticipated to close in the fourth quarter of calendar year 2026, pending customary closing conditions including review by the Public Utilities Commission of Ohio. The filing includes consolidated financial statements for CenterPoint Ohio for the year ended December 31, 2025, and the three months ended March 31, 2026, along with pro forma financial information, and details a related private placement of common stock by National Fuel.
Key Highlights
- National Fuel Gas Company to acquire CenterPoint Ohio for $2.62 billion.
- Purchase price comprises $1.42 billion in cash and a $1.2 billion promissory note.
- Transaction expected to close in Q4 2026, subject to regulatory approvals.
- CenterPoint Ohio reported $268 million in utility revenues for the year ended December 31, 2025.
- CenterPoint Ohio's net income was $68 million for the year ended December 31, 2025.
- CenterPoint Ohio reported $97 million in utility revenues for the three months ended March 31, 2026.
- CenterPoint Ohio's net income was $25 million for the three months ended March 31, 2026.
- National Fuel completed a private placement of 4,402,513 common shares at $79.50 each.
- CenterPoint Ohio serves approximately 337,000 metered customers in west-central Ohio.
Price Impact
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