CenterPoint Energy Announces Sale of CenterPoint Energy Services Business to Energy Capital Partners
- Sale supports further emphasis on CenterPoint Energy's core utility operations
2020-02-24T06:00:00Z

HOUSTON, Feb. 24, 2020 - CenterPoint Energy, Inc. (NYSE: CNP) today announced it has entered into an agreement to sell its natural gas retail business, CenterPoint Energy Services, Inc. (CES) to Energy Capital Partners, LLC, (ECP), a private equity and credit investor specializing in energy infrastructure projects, for total consideration of approximately $400 million, including estimated working capital at close, subject to the satisfaction of customary terms and conditions. As part of the transaction, CES will enter into a structured long-term Preferred Supply agreement where Shell Energy North America (US), L.P. (SENA) will provide gas supply and collateral support, as well as receive equity warrants. Net proceeds of the sale will be used to repay a portion of outstanding CenterPoint Energy debt.

"The sale of our gas retail business further positions CenterPoint Energy to focus on the long-term performance of our core electric and natural gas utility businesses," said John W. Somerhalder II, interim president and chief executive officer of CenterPoint Energy. "At the same time, this sale will strengthen our balance sheet and improve our business risk profile."

Somerhalder added, "When combined with our recent agreement to sell Miller Pipeline and Minnesota Limited, two businesses that comprised our infrastructure services segment, we expect our utility earnings contribution to approach 90% over the next several years." 

CES provides competitive natural gas sales, storage and supply, and other energy-related solutions to approximately 30,000 commercial and industrial customers, utilities and municipalities in more than 30 states. CES is headquartered in Houston and has approximately 300 employees.

"ECP looks forward to partnering with CES and its employees in order to continue providing customers with best-in-class service and reliable gas supply," said Andrew Gilbert, a partner at ECP. "We are excited to support CES' future growth."

The sale is anticipated to be completed in the second quarter 2020, subject to the satisfaction of closing conditions, including the expiration or termination of the Hart-Scott-Rodino waiting period.

Goldman Sachs & Co. LLC is serving as exclusive financial advisor to CenterPoint Energy. Akin Gump Strauss Hauer & Feld LLP is acting as legal counsel to CenterPoint Energy. Latham & Watkins, LLP is serving as legal counsel to Energy Capital Partners, LLC and BNP Paribas is providing a committed borrowing base facility.  

Headquartered in Houston, CenterPoint Energy, Inc. (NYSE: CNP) is an energy delivery company with regulated utility businesses in eight states and a competitive energy businesses footprint in nearly 40 states. Through its electric transmission & distribution, power generation and natural gas distribution businesses, the company serves more than 7 million metered customers in Arkansas, Indiana, Louisiana, Minnesota, Mississippi, Ohio, Oklahoma and Texas. CenterPoint Energy's competitive energy businesses include natural gas marketing and energy-related services; energy efficiency, sustainability and infrastructure modernization solutions; and construction and repair services for pipeline systems, primarily natural gas. The company also owns 53.7 percent of the common units representing limited partner interests in Enable Midstream Partners, LP, a publicly traded master limited partnership that owns, operates and develops strategically located natural gas and crude oil infrastructure assets. With approximately 14,000 employees and nearly $35 billion in assets, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, visit CenterPointEnergy.com.

Energy Capital Partners, founded in 2005, is a North American-focused investor across both equity and credit infrastructure assets, including natural gas power generation, renewables and storage solutions, midstream, environmental infrastructure and opportunistic energy situations emphasizing the transition to clean energy while avoiding the more volatile energy subsectors like exploration and production. The ECP team, comprised of 61 people with 600 years of collective industry experience, deep expertise and extensive relationships, has consummated more than 60 transactions over the last 10 years, representing more than $45 billion of enterprise value.

Forward-Looking Statement
The statements in this press release contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical fact included in this press release are forward-looking statements made in good faith by us and are intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995.  When used in this press release, the words "anticipate," "believe," "continue," "could," "estimate," "expect," "forecast," "goal," "intend," "may," "objective," "plan," "potential," "predict," "projection," "should," "target," "will" or other similar words are intended to identify forward-looking statements. These forward-looking statements are based upon assumptions of management which are believed to be reasonable at the time made and are subject to significant risks and uncertainties. Actual events and results may differ materially from those expressed or implied by these forward-looking statements. Forward-looking statements include, but are not limited to, statements relating to benefits of the sale, the timing of the closing, CenterPoint Energy's use of proceeds from the sale, the relative contribution of CenterPoint Energy's core energy delivery business after closing, including the related impact to utility earnings percentages, and anticipated changes in CenterPoint Energy's balance sheet, risk profile and earnings quality. Each forward-looking statement contained in this press release speaks only as of the date of this release. Important factors that could cause actual results to differ materially from those indicated by the provided forward-looking information include risks and uncertainties relating to: (1)  the timing of the expiration or termination of the Hart-Scott-Rodino waiting period and the receipt of any consents, waivers or approvals required to be obtained pursuant to applicable antitrust laws, (2) the occurrence of any event, change or other circumstances that could give rise to the termination of the proposed transactions or could otherwise cause the failure of the proposed transactions to close, (3) the risk that a condition to the closing of the proposed transactions may not be satisfied, (4) the outcome of any legal proceedings, regulatory proceedings or enforcement matters that may be instituted relating to the proposed transactions, (5) the timing to consummate the proposed transactions, (6) disruption from the proposed transactions making it more difficult to maintain relationships with customers, employees, regulators or suppliers, (7) the diversion of management time and attention on the proposed transactions  and (8) other factors discussed in CenterPoint Energy's Annual Report on Form 10-K for the fiscal year ended December 31, 2018, CenterPoint Energy's Quarterly Report on Form 10-Q for the quarters ended March 31, 2019, June 30, 2019 and September 30, 2019 and other reports CenterPoint Energy or its subsidiaries may file from time to time with the Securities and Exchange Commission.

CenterPoint Communications

CenterPoint Investor Relations

Natalie Hedde: 812.491.5105

David Mordy: 713.207.6284

Natalie.hedde@centerpointenergy.com  

David.mordy@centerpointenergy.com

 

CenterPoint Energy logo. (PRNewsFoto)

SOURCE CenterPoint Energy, Inc.

 Recent News

 

 
Local governmental agencies and first responder organizations within CenterPoint Energy’s footprint encouraged to apply for a Community Safety Grant

​EVANSVILLE, Ind. – April 9, 2026 – Local governmental agencies across CenterPoint Energy's service areas in Indiana, Minnesota, Ohio and Texas are invited to apply for the company's annual Community Safety Grant Program. Grants support local safety equipment and safety‑related projects that aim to make a meaningful difference within the communities the company serves. Applications are now open online through April 30, 2026.

CenterPoint awards grants of up to $2,500 to eligible local governmental agencies to support community safety needs within its service areas. Since launching the program in 2003, CenterPoint has awarded approximately $3.5 million in grants to help fund nearly 1,700 safety projects, supporting communities in enhancing public safety and wellbeing.

“At CenterPoint, safety is our top core value, and this drives every effort we take for the customers and communities we are privileged to serve. We know that safer communities are stronger communities, and that's why we appreciate being able to give back to enhance the safety of the locations where we live and work," said Jesus Soto, CenterPoint's Chief Operating Officer. “Through our Community Safety Grant Program, we're proud to support our local governmental agencies, emergency responders and local officials who work every day to improve the health and safety of our neighbors across the communities we serve."

Community Safety Grants have enabled a wide range of projects to enhance public safety, including installing public automated external defibrillators (AEDs), upgrading emergency communication equipment, purchasing personal protective equipment for first responders, enhancing a community's disaster preparedness efforts and purchasing utility locating devices.

Each community CenterPoint serves that is interested in this program should submit a grant application with information outlining a community safety project and how grant funding would help address that need.

To learn more about CenterPoint's commitment to the communities it serves and to apply for a Community Safety Grant, visit CenterPointEnergy.com/Community.  

About CenterPoint Energy, Inc.

As the only investor owned electric and gas utility based in Texas, CenterPoint Energy, Inc. (NYSE: CNP) is an energy delivery company with electric transmission and distribution, power generation and natural gas distribution operations that serve more than 7 million metered customers in Indiana, Minnesota, Ohio and Texas. As of December 31, 2025, the company owned approximately $46.5 billion in assets. With approximately 8,800 employees, CenterPoint and its predecessor companies have been in business for more than 150 years.​

Local governmental agencies and first responder organizations within CenterPoint Energy’s footprint encouraged to apply for a Community Safety Grant

Approximately $3.5 million has been awarded to support nearly 1,700 safety projects since grant program launched

DAYTON, Ohio – April 8, 2026 – Local governmental agencies across CenterPoint Energy's service areas in Indiana, Minnesota, Ohio and Texas are invited to apply for the company's annual Community Safety Grant Program. Grants support local safety equipment and safety‑related projects that aim to make a meaningful difference within the communities the company serves. Applications are now open online through April 30, 2026.

CenterPoint awards grants of up to $2,500 to eligible local governmental agencies to support community safety needs within its service areas. Since launching the program in 2003, CenterPoint has awarded approximately $3.5 million in grants to help fund nearly 1,700 safety projects, supporting communities in enhancing public safety and wellbeing.

“At CenterPoint, safety is our top core value, and this drives every effort we take for the customers and communities we are privileged to serve. We know that safer communities are stronger communities, and that's why we appreciate being able to give back to enhance the safety of the locations where we live and work," said Jesus Soto, CenterPoint's Chief Operating Officer. “Through our Community Safety Grant Program, we're proud to support our local governmental agencies, emergency responders and local officials who work every day to improve the health and safety of our neighbors across the communities we serve."

Community Safety Grants have enabled a wide range of projects to enhance public safety, including installing public automated external defibrillators (AEDs), upgrading emergency communication equipment, purchasing personal protective equipment for first responders, enhancing a community's disaster preparedness efforts and purchasing utility locating devices.

Each community CenterPoint serves that is interested in this program should submit a grant application with information outlining a community safety project and how grant funding would help address that need.

To learn more about CenterPoint's commitment to the communities it serves and to apply for a Community Safety Grant, visit CenterPointEnergy.com/Community.  

About CenterPoint Energy, Inc.

As the only investor owned electric and gas utility based in Texas, CenterPoint Energy, Inc. (NYSE: CNP) is an energy delivery company with electric transmission and distribution, power generation and natural gas distribution operations that serve more than 7 million metered customers in Indiana, Minnesota, Ohio and Texas. As of December 31, 2025, the company owned approximately $46.5 billion in assets. With approximately 8,800 employees, CenterPoint and its predecessor companies have been in business for more than 150 years.​​

Local governmental agencies and first responder organizations within CenterPoint Energy’s footprint encouraged to apply for a Community Safety Grant

Approximately $3.5 million has been awarded to support nearly 1,700 safety projects since grant program launched​

MINNEAPOLIS – April 8, 2026 – Local governmental agencies across CenterPoint Energy's service areas in Indiana, Minnesota, Ohio and Texas are invited to apply for the company's annual Community Safety Grant Program. Grants support local safety equipment and safety‑related projects that aim to make a meaningful difference within the communities the company serves. Applications are now open online through April 30, 2026.

CenterPoint awards grants of up to $2,500 to eligible local governmental agencies to support community safety needs within its service areas. Since launching the program in 2003, CenterPoint has awarded approximately $3.5 million in grants to help fund nearly 1,700 safety projects, supporting communities in enhancing public safety and wellbeing.

“At CenterPoint, safety is our top core value, and this drives every effort we take for the customers and communities we are privileged to serve. We know that safer communities are stronger communities, and that's why we appreciate being able to give back to enhance the safety of the locations where we live and work," said Jesus Soto, CenterPoint's Chief Operating Officer. “Through our Community Safety Grant Program, we're proud to support our local governmental agencies, emergency responders and local officials who work every day to improve the health and safety of our neighbors across the communities we serve."

Community Safety Grants have enabled a wide range of projects to enhance public safety, including installing public automated external defibrillators (AEDs), upgrading emergency communication equipment, purchasing personal protective equipment for first responders, enhancing a community's disaster preparedness efforts and purchasing utility locating devices.

Each community CenterPoint serves that is interested in this program should submit a grant application with information outlining a community safety project and how grant funding would help address that need.

To learn more about CenterPoint's commitment to the communities it serves and to apply for a Community Safety Grant, visit CenterPointEnergy.com/Community.  

About CenterPoint Energy, Inc.

As the only investor owned electric and gas utility based in Texas, CenterPoint Energy, Inc. (NYSE: CNP) is an energy delivery company with electric transmission and distribution, power generation and natural gas distribution operations that serve more than 7 million metered customers in Indiana, Minnesota, Ohio and Texas. As of December 31, 2025, the company owned approximately $46.5 billion in assets. With approximately 8,800 employees, CenterPoint and its predecessor companies have been in business for more than 150 years.​​

CenterPoint Energy delivering on Affordability Actions for southwestern Indiana customers six months after initial commitments

​EVANSVILLE, Ind. – April 6, 2026 – CenterPoint Energy made a public commitment to prioritize affordability for its southwestern Indiana customers in October 2025. Six months later, the company has delivered a series of actions to reduce bill impacts, launch new customer programs, improve billing transparency and bring support directly into the community.

“Our customers and stakeholders have made one thing clear: affordability continues to be the top priority for many households and businesses. We've been laser-focused on delivering on that pledge to help lessen bill impacts, and we're not finished," said Mike Roeder, President of CenterPoint Energy Indiana. “Every program we launch, every event we hold and every tool we build is part of the same commitment we made last fall. We'll continue working alongside our customers and stakeholders to prioritize affordability while delivering the reliable energy southwestern Indiana depends on."

Community Affordability Actions
In October 2025, CenterPoint announced an initial series of Community Affordability Actions designed to prioritize customer affordability while balancing the future energy needs of southwestern Indiana, including:

  • Keeping electric base rates stable by targeting any rate change below or near the rate of inflation through 2027.
  • Cancelling nearly $1 billion in previously approved projects that had become non-economical, an action that equates to savings for residential customers of approximately $18 per month of avoided costs through 2027.
  • Continuing to support regional growth that benefits customers, including jobs, tax base and economic development for southwestern Indiana.

Community Energy Improvement Fund
In October 2025, the CenterPoint Energy Foundation announced the Community Energy Improvement Fund, a $5 million commitment to support weatherization, energy efficiency and cost-saving programs and local economic development efforts across the Evansville region:

Community Connect
CenterPoint hosted five initial Community Connect events across southwestern Indiana in November 2025 as part of its commitment to listen to customer feedback, highlight local energy improvements and address customer priorities:

  • In 2026, the company expanded the program, hosting five events so far this year and connecting more than 150 customers and community members with one-on-one account assistance, information on available programs and direct access to local CenterPoint teams.
  • For the first time in years, CenterPoint welcomed customers back into CenterPoint Energy Plaza in Downtown Evansville for in-person support.
  • CenterPoint is on track to host more than 30 Community Connect events throughout 2026, meeting customers in their neighborhoods, workplaces and community gathering spaces.

The next Community Connect event will be held at the CenterPoint Energy Plaza, 211 NW Riverside Dr., Evansville, on Wednesday, April 8.
 
Tools and resources
CenterPoint has introduced and expanded tools and resources to help customers better understand and manage their energy use and bills:

  • A redesigned electric bill format that breaks monthly charges into four clear categories, with definitions printed directly on each bill
  • An expanded Customer Resource Hub bringing billing tools, payment options, energy efficiency programs and financial assistance resources together in one place
  • The TimeWise pilot, a new voluntary time-of-use pricing program approved by the Indiana Utility Regulatory Commission that allows participating customers to save by shifting energy use to lower-cost hours
  • New customer protections through the Indiana Electric rate case settlement, including annual late-fee waivers upon request, reduced reconnection fees and safeguards for medically vulnerable customers

What's ahead
CenterPoint is pursuing additional steps to further reduce bill impacts for customers:

  • Working with stakeholders to attract large load customers to southwest Indiana to help lower bills
  • Developing new tools such as weekly personalized energy use updates to help customers manage consumption
  • Initiating a proceeding later this year to combine the rates of its two Indiana natural gas service territories to benefit southwestern Indiana customers

Customers looking for help managing energy costs can visit CenterPointEnergy.com/ResourceHub or call 1-800-227-1376. Upcoming Community Connect dates and locations are available at CenterPointEnergy.com/CommunityConnect.​

CenterPoint Energy reports improved electric reliability, fewer outages in southwestern Indiana heading into peak storm season

Customers experienced fewer outages, shorter outage durations and fewer repeat outages in 2025 compared to 2024

EVANSVILLE, Ind. – April 3, 2026 – CenterPoint Energy's Indiana electric system is entering peak storm season with improved reliability across several key performance measures. In 2025, customers experienced fewer outages, shorter outage times and fewer repeat outages compared to the prior year, reflecting years of infrastructure investments to strengthen the electric grid serving the region's approximately 154,000 electric customers.

CenterPoint measures reliability using industry-standard benchmarks, the same measures used by electric utilities across the country to track performance. In 2024, those measures placed CenterPoint's Indiana electric system among the top-performing utilities nationally, including the lowest system average outage duration among Indiana utilities, a top-25% ranking nationwide for fewest customers experiencing repeat outages and a top-half ranking for outage frequency and duration.

In 2025, the company further improved on key measures, including:

  • Fewer outages: The average number of outages customers experienced dropped by nearly 10% compared to 2024, continuing a trend of year-over-year improvement since 2022.
  • Shorter outages: When outages did occur, the system's average duration decreased by 14%, meaning power was restored sooner for customers across the service territory.
  • Fewer repeat outages: The number of customers who experienced four or more outages in a year dropped by 10%, driven by a targeted program that identifies areas with repeated outages and prioritizes improvements.

Additionally, outage minutes attributed to equipment failure have dropped 57% since 2019 as the company has continued to replace and upgrade infrastructure through its grid modernization program.

 “Our customers count on reliable electric service, and that's what we're focused on delivering. The system serving southwestern Indiana is well-positioned heading into peak storm season," said Mike Roeder, President of CenterPoint Energy Indiana.

Preparing for storm season
CenterPoint encourages customers to take steps to prepare for severe weather:

  • Bookmark the Outage Tracker: Provides real-time outage conditions across southwestern Indiana by county and ZIP code
  • Sign up for Power Alert Service: CenterPoint's Power Alert Service sends outage notifications by text, email or phone, including estimated restoration times and updates.
  • Prepare an emergency kit: Keep flashlights, extra batteries, a portable phone charger, a first aid kit, essential medications and a multi-day supply of water and non-perishable food in an accessible location.
  • Stay safe around downed power lines: Stay at least 35 feet away from downed power lines and assume they are energized. Never touch a downed line or anything in contact with it. If a power line falls on your vehicle, stay inside. To report a downed line, call 911 and CenterPoint.

More resources and tips can be found at CenterPointEnergy.com/ActionCenter.

Ongoing commitment to customers 
CenterPoint's prudent investments in reliability are part of a broader commitment to southwestern Indiana customers that includes prioritizing affordability. Over the past year, the company has taken a series of actions to manage costs for customers, including cancelling nearly $1 billion in generation projects that were no longer economical, saving residential customers approximately $18 per month in avoided costs through 2027. 

In October 2025, CenterPoint launched an initial series of Community Affordability Actions, including the CenterPoint Energy Foundation's $5 million Community Energy Improvement Fund. Since then, the company has introduced additional bill management tools and programs for southwestern Indiana customers and customer protections as part of the Indiana Electric rate case settlement, such as annual late fee waivers upon request, reduced reconnection fees and additional safeguards for medically vulnerable customers. The company expects to announce additional customer resources in the coming weeks.