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

 

 
CenterPoint Energy completes vast majority of restoration efforts in Carlos and Alexandria

  • Majority of service restored in less than 24 hours 
  • Remaining locations include seasonal cabins and commercial businesses 
  • City Hall remains staging area  ​

MINNEAPOLIS — Dec. 5, 2025 — CenterPoint Energy has completed the vast majority of its restoration efforts for the natural gas outage impacting customers in the Carlos and Alexandria areas following yesterday’s third-party vehicle strike to an above-ground natural gas regulator station near Carlos. 

 

In less than 24 hours, CenterPoint Energy crews responded to the emergency, assessed the major damage, made repairs, and restored the majority of necessary services. As of this morning, service has been restored to nearly all impacted customers, with only a limited number of remaining locations—a mix of commercial businesses and seasonal cabins—awaiting relight. Crews will complete these remaining relights today, with businesses expected to be restored promptly this morning as daylight hours allow easier access and coordination. 

 

As of 8 a.m., Carlos City Hall is no longer serving as a warming center but will remain the staging area for restoration crews until all work is complete. CenterPoint Energy extends its sincere thanks to Douglas County, the City of Carlos, the Carlos Fire Department, and the many community members who have stepped up to provide food, supplies, and support throughout this restoration effort. Their efforts and generosity have been invaluable in helping impacted customers stay safe and warm. 

 

Safety remains CenterPoint Energy’s core value, and all personnel are working to keep safety at the forefront during the repair and restoration process. If you smell natural gas, leave immediately on foot. Once safely away from the area, report the possible natural gas leak to 911 and to CenterPoint Energy at 800-296-9815. 

 

CenterPoint Energy appreciates the continued patience and support of its customers and communities as it finalizes its work to safely restore service as quickly as possible. 

CenterPoint Energy submits Indiana generation plan to prioritize long-term reliability, economic growth and customer affordability

EVANSVILLE, Ind. – Dec. 5, 2025 – CenterPoint Energy’s Indiana Electric business today submitted its 2025 Integrated Resource Plan (IRP) with the Indiana Utility Regulatory Commission (IURC) that focuses on customer affordability while also providing reliable service now and in the future across southwestern Indiana. The 2025 IRP, which was developed following a series of public meetings and stakeholder discussions since March 2025, is a vital strategic roadmap that defines the appropriate mix of generation required to meet the region’s future energy needs and support potential economic growth, while also prioritizing customer affordability.

“We have listened closely to stakeholders across southwestern Indiana and worked together to address our customers’ and the community’s future energy needs and priorities. Our 2025 IRP reflects this shared focus on reliability and affordability for the Hoosier families we are privileged to serve. Most importantly, it provides a flexible path forward to support southwestern Indiana’s energy and economic needs for decades to come,” said Mike Roeder, President of CenterPoint Energy Indiana.

2025 IRP: Key Benefits for Southwestern Indiana
CenterPoint’s 2025 IRP is a forward-looking, 20-year generation plan, which all Indiana electric utilities are required to submit to the IURC. As part of a commitment to build a more reliable, safer and affordable energy future, CenterPoint’s 2025 IRP includes the following key provisions and benefits for its 150,000 electric customers across southwestern Indiana:

  • Limits near-term rate impacts. Helps minimize any rate increase in the near term for southwestern Indiana customers.
  • Uses existing and planned resources. Leverages existing and previously approved generation resources to meet customers’ energy needs.
  • Defers higher-cost projects. Delays moving forward on certain higher-cost projects that would increase near-term customer bills.
  • Provides flexibility for future growth. Includes an alternate preferred portfolio to support scalable system expansion to help accommodate potential new load growth while working to minimize impact to existing customers.
  • Provides current and future customer savings. As part of CenterPoint’s affordability efforts, includes cancellation of nearly $1 billion in non-economical renewable projects, saving customers approximately $18/month in current and future costs.

2025 IRP: Engaged with Stakeholders to Incorporate Varying Perspectives
Throughout the planning of its 2025 IRP, CenterPoint has worked closely with stakeholders across southwestern Indiana and the state. The new IRP addresses stakeholder and community feedback and helps achieve a realistic and responsible generation resource plan that best serves southwestern Indiana’s energy future. The scope of local outreach and public engagement efforts included:

  • Holding four public stakeholder meetings, with in-person and virtual options, bringing together customers and representatives from more than 30 organizations to share feedback and discuss local needs and priorities.
  • Responding to various stakeholder requests and questions through public meetings and technical sessions and using that feedback to help refine the plan.
  • Using stakeholder input to refine elements of the planning process by incorporating varying perspectives to develop a well-rounded plan.

As part of the ongoing regulatory process, the IURC and stakeholders will review the IRP and provide additional feedback. CenterPoint will continue to engage customers, local and state officials and community organizations as it implements the plan and its previously announced affordability actions. To view the 2025 IRP and related documents, visit CenterPointEnergy.com/IRP.

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 September 30, 2025, the company owned approximately $45 billion in assets. With approximately 8,300 employees, CenterPoint Energy and its predecessor companies have been in business for more​ than 150 years. For more information, visit CenterPointEnergy.com.​

Forward-Looking Statements

This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this news release, the words “anticipate," “believe," “continue," “could," “estimate," “expect," “forecast," “goal," “intend," “may," “objective," “plan," “potential," “predict," “projection," “should," “target," “will," “would" 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. Any statements in this news release regarding future events, such as CenterPoint Energy's ability to execute on the proposed plan, the anticipated benefits of the plan (including in relation to reliability, economic growth and affordability), the amount and expected impact to rates and customer's bills, and any other statements that are not historical facts are forward-looking statements. Each forward-looking statement contained in this news 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) business strategies and strategic initiatives, acquisitions or dispositions of assets or businesses involving CenterPoint Energy or its industry; (2) CenterPoint Energy's ability to fund and invest planned capital, and the timely recovery of its investments; (3) financial market and general economic conditions; (4) the timing and impact of future regulatory, legislative and political actions or developments; and (5) other factors, risks and uncertainties discussed in CenterPoint Energy's Annual Report on Form 10-K for the fiscal year ended December 31, 2024 and CenterPoint Energy's Quarterly Reports on Form 10-Q for the quarters ended March 31, 2025, June 30, 2025 and September 30, 2025 and other reports CenterPoint Energy or its subsidiaries may file from time to time with the Securities and Exchange Commission.
CenterPoint Energy assessing damage caused by vehicle hitting its natural gas infrastructure near Carlos, Minnesota

MINNEAPOLIS — DEC. 4, 2025 — CenterPoint Energy crews are responding to a vehicle hitting its above ground natural gas regulator station near Carlos, Minnesota. This vehicle strike by a third-party unrelated to the company is expected to cause an outage for approximately 525 customers in the Carlos and Alexandria area.

With below zero temperatures expected today and ongoing cold over the coming days, CenterPoint wants to assure customers that the company will work quickly to safely make repairs and restore service as soon as possible. The company encourages customers to use their personal emergency plan to stay safe and warm today and potentially overnight.

CenterPoint is assessing the damage to its system and is working with local officials and emergency first responders to make the area safe. The company is working to repair its infrastructure safely and as quickly as possible to minimize the number and duration of outages. Currently, the company expects that efforts to repair its system and restore affected customers could continue into tomorrow, Dec. 5, 2025.

Safety is CenterPoint's core value, and the company works to keep safety at the forefront during all repairs. If you smell natural gas, leave immediately on foot. Once safely away from the area, report the possible natural gas leak to 911 and to CenterPoint at 800-296-9815.

CenterPoint appreciates the community's patience as it works to repair its system. 
​

CenterPoint Energy working with the City of Carlos to temporarily turn City Hall into a warming center

​​MINNEAPOLIS — DEC. 4, 2025 — CenterPoint Energy crews have been working diligently to repair damage to its above ground natural gas regulator station near Carlos, Minnesota caused by a vehicle strike by a third-party unrelated to the company. Approximately 525 customers are experiencing outages in the Carlos and Alexandria areas.

Starting at 1 p.m. today and continuing into tonight, Carlos City Hall, located at 109 First Street West, Carlos, will be available for area residents as a warming center, and CenterPoint staff will be on site to provide space heaters to affected customers. The company reminds customers to use their personal emergency plan and these resources at Carlos City Hall to stay safe and warm today and potentially overnight.

CenterPoint has secured the area and is repairing its infrastructure safely and as quickly as possible. As part of this process, the company will go to each affected location to turn off natural gas meters. The company expects efforts to restore affected customers could continue into tomorrow, Dec. 5, 2025.

Safety is CenterPoint's core value, and the company works to keep safety at the forefront during all repairs. If you smell natural gas, leave immediately on foot. Once safely away from the area, report the possible natural gas leak to 911 and to CenterPoint at 800-296-9815.

CenterPoint appreciates the community's patience as it works to repair its system. 

CenterPoint Energy crews continuing work to restore service to customers in Carlos and Alexandria currently following third-party vehicle collision

Carlos City Hall at 109 First Street West remains open as a warming center; CenterPoint team members are at City Hall providing space heaters to impacted customers. 

MINNEAPOLIS — DEC. 4, 2025 — CenterPoint Energy crews have completed repairs to the above-ground natural gas regulator station near Carlos, Minn., that was damaged by a vehicle strike by a third-party unrelated to CenterPoint. Crews are working safely and as quickly as possible to restore service to approximately 525 customers experiencing a natural gas outage in the Carlos and Alexandria areas and will begin the process to relight appliances at each impacted customer's location.

CenterPoint has more than 50 technicians on the scene actively supporting restoration efforts for customers experiencing a natural gas outage, and it currently expects to restore all customers who can safely receive service by the end of day tomorrow, Dec. 5, 2025.


Important Information for Customers

To restore service, technicians go door-to-door to perform a necessary safety check prior to conducting relights on each natural gas appliance in a customer's home or business. An adult 18 or older must be at the location when a technician arrives. All technicians and contractors wear ID badges and show them on request.

CenterPoint is encouraging impacted customers to activate their emergency plans and leverage available resources to stay safe and warm today and potentially overnight. Carlos City Hall, located at 109 First Street West, Carlos, remains open for area residents until 9 p.m. as a warming center, and CenterPoint staff will remain on site to provide space heaters to affected customers.

Safety is CenterPoint's core value, and all CenterPoint personnel work to keep safety at the forefront during the repair and restoration process. If you smell natural gas, leave immediately on foot. Once safely away from the area, report the possible natural gas leak to 911 and to CenterPoint at 800-296-9815.

CenterPoint appreciates the continued patience and support of its customers and communities as it works to safely restore service as quickly as possible.