CenterPoint Energy announces sale of its Louisiana and Mississippi natural gas assets to Bernhard Capital Partners for $1.2 billion
2024-02-20T06:00:00Z

Houston – Feb. 20, 2024 – CenterPoint Energy, Inc. (NYSE: CNP) (“CenterPoint") today announced the sale of its Louisiana and Mississippi natural gas LDC businesses to Bernhard Capital Partners, a services and infrastructure-focused private equity management firm, for $1.2 billion. The assets include approximately 12,000 miles of main pipeline in Louisiana and Mississippi serving approximately 380,000 metered customers. CenterPoint's LDCs are the second largest natural gas LDCs in both Louisiana and Mississippi by customer accounts, with a combined workforce of approximately 550 employees.

  • Transaction valuation represents approximately 32 multiple of 2023 Louisiana and Mississippi Local Distribution (LDC) earnings
  • Sale will enable company to efficiently recycle approximately $1 billion in anticipated after-tax cash proceeds to support industry-leading capital plan
  • Transaction also enables CenterPoint to reprioritize future capital investments related to those assets of approximately $1 billion elsewhere across its regulated Electric and Natural Gas utility footprint
  • Closing expected toward the end of first quarter of 2025
  • Sale will not change company's targeted utility non-GAAP EPS growth rate of 8% in 2024, and the mid-to-high end of 6%-8% annually from 2025 through 2030
  • Company reiterates long-term confidence in and commitment to its Natural Gas Business ​

The sales price of $1.2 billion represents approximately 32 multiple of 2023 Louisiana and Mississippi LDC earnings. The transaction is anticipated to close toward the end of first quarter of 2025, subject to customary closing conditions, including Hart-Scott-Rodino antitrust clearance and state regulatory approvals.

“I would like to thank our Louisiana and Mississippi LDC employees, as well as the team members who support these businesses, for their focus on safety, performance, and results. Together, they are our customers' trusted energy partner in these regions," said Jason Wells, President and Chief Executive Officer of CenterPoint. “The transaction will allow us to optimize our portfolio of utility operations and efficiently recycle approximately $1 billion in after-tax cash proceeds into our service territory where we have both electric and natural gas operations or where we have a larger presence at a valuation that is more efficient than issuing common equity. The sale will also enable us to redeploy approximately $1 billion of future capital expenditures intended for Louisiana and Mississippi into jurisdictions with less regulatory lag thereby enhancing the ongoing earnings power of the company."

Wells added, “This will mark the fourth time over the past few years in which we have recycled sales proceeds and reinvested them in our regulated businesses for the benefit of all stakeholders. The transaction, along with the reinvested capital, will not change our targeted non-GAAP EPS growth rate of 8% in 2024, and the mid-to-high end of 6%-8% annually from 2025 through 2030. The efficiency of this transaction and portfolio optimization will further enhance our ability to continue executing our industry-leading long-term growth strategy for years to come.

“Our Natural Gas Business is core to our company and together with our Electric Business will continue to be a cornerstone of our long-term growth strategy," said Wells. “From an operational and strategic perspective, we remain confident in and committed to our regulated natural gas utilities in Texas, Indiana, Minnesota, and Ohio where we have significant footprints and rate bases." CenterPoint's Louisiana and Mississippi LDCs represent less than 4% of the company's overall rate base.

Morgan Stanley & Co. LLC and Wells Fargo Securities, LLC served as CenterPoint's financial advisors. Latham and Watkins LLP, Phelps Dunbar LLP, and Brunini, Grantham, Grower & Hewes, PLLC served as CenterPoint's legal advisors.

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, Louisiana, Minnesota, Mississippi, Ohio and Texas. As of September 30, 2023, the company owned approximately $39 billion in assets. With approximately 8,900 employees, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, visit www.CenterPointEnergy.com.

About Bernhard Capital Partners
Bernhard Capital Partners is a services and infrastructure-focused private equity management firm established in 2013. Bernhard Capital Partners has deployed capital in four funds across several strategies and has approximately $3.4 billion of gross assets under management. Bernhard Capital Partners seeks to create sustainable value by leveraging its experience in acquiring, operating and growing services and infrastructure businesses. For more information, visit www.BernhardCapital.com.

Use of Non-GAAP Measures
As included in this news release, CenterPoint provides guidance based on non-GAAP income and non-GAAP diluted earnings per share. Generally, a non-GAAP financial measure is a numerical measure of a company's historical or future financial performance that excludes or includes amounts that are not normally excluded or included in the most directly comparable GAAP financial measure.
Management evaluates CenterPoint's financial performance in part based on non-GAAP income and non-GAAP earnings per share. Management believes that presenting these non-GAAP financial measures enhances an investor's understanding of CenterPoint's overall financial performance by providing them with an additional meaningful and relevant comparison of current and anticipated future results across periods. The adjustments made in these non-GAAP financial measures exclude items that management believes do not most accurately reflect the company's fundamental business performance. CenterPoint's non-GAAP income and non-GAAP diluted earnings per share measures should be considered as a supplement to, and not as a substitute for, or superior to, income available to common shareholders and diluted earnings per share, which respectively are the most directly comparable GAAP financial measures. These non-GAAP financial measures also may be different than non-GAAP financial measures used by other companies.

2024 non-GAAP EPS guidance range

  • 2024 non-GAAP EPS guidance excludes:
    • Earnings or losses from the change in value of ZENS and related securities; and
    • Gain and impact, including related expenses, associated with mergers and divestitures, such as the Louisiana and Mississippi gas LDC sales.

 
In providing 2024 non-GAAP EPS guidance, CenterPoint does not consider the items noted above and other potential impacts such as changes in accounting standards, impairments, or other unusual items, which could have a material impact on GAAP reported results for the applicable guidance period. The 2024 non-GAAP EPS guidance ranges also consider assumptions for certain significant variables that may impact earnings, such as customer growth and usage including normal weather, throughput, recovery of capital invested, effective tax rates, financing activities and related interest rates, and regulatory and judicial proceedings. To the extent actual results deviate from these assumptions, the 2024 non-GAAP EPS guidance ranges may not be met, or the projected annual non-GAAP EPS growth rate may change. CenterPoint is unable to present a quantitative reconciliation of forward-looking non-GAAP diluted earnings per share without unreasonable effort because changes in the value of ZENS and related securities, future impairments, and other unusual items are not estimable and are difficult to predict due to various factors outside of management's control.

Forward-Looking Statements
This news release may 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 news 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 Current Report, 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, the timing of the closing of the Transaction. Each forward-looking statement contained in this news release speaks only as of the date of this report. 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 Transaction or could otherwise cause the failure of the Transaction to close, (3) the risk that a condition to the closing of the Transaction may not be satisfied, including obtaining required regulatory approvals, (4) the outcome of any legal proceedings, regulatory proceedings or enforcement matters that may be instituted relating to the Transaction, (5) the timing to consummate the Transaction, (6) disruption from the Transaction making it more difficult to maintain relationships with customers, employees, regulators or suppliers, (7) the diversion of management time and attention on the Transaction and (8) other factors discussed in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2023 and other reports the Company may file from time to time with the Securities and Exchange Commission.

​

 Recent News

 

 
Weekend Storm Wrap-up: More than 97% of CenterPoint Energy customers experienced no impacts during weekend storms; Company monitoring forecast for potential midweek severe weather

​HOUSTON – March 8, 2026 – Following a stormy Saturday and Sunday morning in CenterPoint Energy's electric service territory, more than 97% of its 2.9 million customers across the Greater Houston area experienced no impacts to electric service during the weather event. As of 5 p.m., essentially all customers have been restored from the weekend storms. Approximately 83,500 customers have been restored since the storms arrived at 5 p.m. Saturday evening. ​

Northern areas of the company's electric service territory in Cypress, Humble and Katy experienced thunderstorms with heavy rainfall, flooding, and frequent lightning – approximately 15,800 cloud-to-ground lightning strikes were recorded across the Greater Houston area from 12 a.m. on Saturday to 12 p.m. today. The average time to restore customers who experienced storm-related outages was approximately 60 minutes and the vast majority of customers were restored in less than five hours. The company's Emergency Operation Center was activated ahead of the storms, and more than 1,400 frontline workers and contractor crews responded to isolated outages throughout the company's service area.

The company will return to normal operations at 8 p.m.

“We are committed to restoring service safely and as quickly as possible to those remaining customers who experienced power interruptions from the lightning and storms. We know that any outage is one too many for customers, and we won't stop until all customers are restored," said Jason Fabre, CenterPoint's Vice President, Special Response Team and Incident Commander. “We will continue to quickly address any additional outages that may occur as a result of Sunday's ongoing weather activity."

CenterPoint took the following actions for this weekend's event:

  • Deployed the company's resources: More than 1,400 personnel responded to outages and supported preparedness actions ahead of restoration efforts.
  • Activated Emergency Operations Center: To coordinate storm response efforts throughout the weekend, the company proactively activated its Emergency Operations Center on Friday and remains ready to respond.
  • ​ Monitored weather 24/7: The Meteorology team continues to track forecast developments, and the company is updating response plans as conditions evolve.
  • Pre-positioned resources: Response teams were pre-positioned in areas where storms were forecasted to impact and remain ready to respond to any electric or natural gas service interruptions safely and as quickly as possible.
  • Coordinated with local officials: The company provided updates to local officials and emergency management partners.

Monitoring mid-week for next wave of potentially severe weather

CenterPoint's Emergency Preparedness and Response and Meteorology teams continue to diligently monitor remaining Sunday storm activity and the potential of another wave of severe weather forecasted for midweek. The company remains positioned to support restoration efforts and respond to potential impacts to electric and natural gas service safely and as quickly as possible.

“For the last several days, our Emergency Preparedness and Response team has been monitoring the potential for another spring storm system that could bring another chance of strong and potentially severe thunderstorms to the area in the middle of the week," said Matt Lanza, CenterPoint's Manager of Meteorology. “Our crews will be fully prepared for the possibility of another round of severe weather this week and stand ready to respond. We will continue to actively monitor for any severe weather and urge our customers to stay alert in anticipation of quickly changing weather conditions."

What customers should do:

About CenterPoint Energy, Inc.  
CenterPoint Energy, Inc. (NYSE: CNP) is a multi-state electric and natural gas delivery company serving more than 7 million metered customers across Indiana, Minnesota, Ohio, and Texas. The company is headquartered in Houston and is the only Texas-domiciled investor-owned utility. As of December 31, 2025, the company had approximately $46.5 billion in assets. With approximately 8,800 employees, CenterPoint Energy and its predecessor companies have been serving customers for more than 150 years. For more information, visit CenterPointEnergy.com. 

​

CenterPoint Energy continues preparedness actions and positions resources ahead of potential severe weather in the Greater Houston area beginning Saturday afternoon and into Sunday

HOUSTON – March 7, 2026 – CenterPoint Energy's Emergency Operations Center remains activated today as the company continues executing preparedness actions ahead of potential severe weather across the Greater Houston area Saturday afternoon and evening, including scattered showers, thunderstorms and lightning. The company is monitoring forecasts, coordinating with emergency management partners and positioning resources to be prepared to respond to potential impacts to electric and natural gas service safely and as quickly as possible.

“We've been actively monitoring the weather models all week and are prepared to respond to potential impacts to our system," said Matt Lanza, CenterPoint's Manager of Meteorology. “Though the greatest potential for thunderstorms and severe weather appears to be to the north of our electric service territory on Saturday, we will continue tracking forecasts and adjusting our response plans. We urge customers to stay aware of evolving weather conditions and have a plan to stay safe."

What CenterPoint is doing:

  • Readying the company's resources:More than 1,400 personnel continue executing preparedness actions and will remain ready to support potential restoration efforts through Sunday.
  • Activated Emergency Operations Center: To coordinate storm response efforts throughout the weekend, the company proactively activated its Emergency Operations Center yesterday and remains ready to respond.
  • ​ Monitoring 24/7: The Meteorology team continues to track forecast developments, and the company is updating response plans as conditions evolve.
  • Pre-positioning resources: Response teams are developing plans to pre-position crews across the area to respond to any electric or natural gas service interruptions safely and as quickly as possible.
  • Coordinating with local officials: The company is providing updates to local officials and emergency management partners.

“Our crews are pre-positioned and ready to safely and quickly restore service in the event the forecasted severe weather has an impact on our system," said Jason Fabre, CenterPoint's Vice President, Special Response Team and Incident Commander. “We are committed to keeping our customers aware and informed, especially during potentially severe weather events. We urge all customers to register for Power Alert Service®, so that if outages from weather occur they can receive restoration updates directly via phone, text and email."​

What customers should do:

  • Sign up for Power Alert Service®: Get outage updates and restoration times.
  • Track outages: Bookmark our new Outage Tracker (available in English & Spanish and mobile-friendly) to see outage information in your area.
  • Stay safe: Visit Ready.gov for storm safety tips.
  • ​ Follow us: Real-time updates will be available on X and at CenterPointEnergy.com/ActionCenter.

About CenterPoint Energy, Inc.  
CenterPoint Energy, Inc. (NYSE: CNP) is a multi-state electric and natural gas delivery company serving approximately 7 million metered customers across Indiana, Minnesota, Ohio, and Texas. The company is headquartered in Houston and is the only Texas-domiciled investor-owned utility. As of September 30, 2025, the company had approximately $45 billion in assets. With approximately 8,300 employees, CenterPoint Energy and its predecessor companies have been serving customers for more than 150 years. For more information, visit CenterPointEnergy.com. ​

More than 99.8% of CenterPoint Energy customers experienced no impacts during Saturday afternoon and evening storms; Company remains ready to respond to additional storms overnight and Sunday

​HOUSTON – March 7, 2026 – As today's wave of thunderstorms moved through the Greater Houston area, more than 99.8% of CenterPoint Energy's 2.9 million customers experienced no impacts to electric service as a result of this afternoon's severe weather. At the peak of today's storm activity, approximately 11,000 customers were without service. Since 5 p.m., crews have restored approximately 7,000 customers. As of 9:30 p.m., approximately 4,000 customers are currently without power — less than 1% of CenterPoint's 2.9 million electric customers. These numbers may continue to fluctuate as additional storms move through the area overnight and Sunday.​​

Crews have been pre-positioned across the area and are actively restoring customers experiencing outages in the areas most impacted, including northern areas of the company's electric service territory in Cypress, Humble and Katy, which experienced thunderstorms with frequent lightning and heavy rainfall.

The company's Operations Center remains activated as crews respond to outages and continue executing preparedness actions ahead of any weather impacts tomorrow. The company continues to diligently monitor forecasts, coordinate with emergency management partners and position resources to continue supporting restoration efforts and respond to any system impacts safely and as quickly as possible.

“We are committed to getting the lights back on for those customers experiencing outages following today's storms. Our crews are out right now across the Greater Houston area working to safely and quickly restore customers, while also preparing for another round of severe weather tomorrow afternoon," said Jason Fabre, CenterPoint's Vice President, Special Response Team and Incident Commander.

“As heavy rainfall continues and the threat of flooding remains across the area, we urge customers to stay prepared. We urge customers to stay aware and alert to the dangers of flood waters – and stay away from downed power lines that could be submerged in standing water. If you see a downed power line, stay at least 35 feet away and call us at 713-207-2222 to report."

CenterPoint has taken the following actions:

  • Deployed the company's resources: More than 1,400 personnel are responding to outages and supporting preparedness actions ahead of potential restoration efforts tomorrow.
  • Activated Emergency Operations Center: To coordinate storm response efforts throughout the weekend, the company proactively activated its Emergency Operations Center yesterday and remains ready to respond.
  • ​ Continued monitoring of weather 24/7: The Meteorology team continues to track forecast developments, and the company is updating response plans as conditions evolve.
  • Pre-positioned resources: Response teams have been pre-positioned in areas where storms are forecasted to impact and remain respond to any electric or natural gas service interruptions safely and as quickly as possible.
  • Continued coordination with local officials: The company is providing updates to local officials and emergency management partners.

What customers should do:

  • Sign up for Power Alert Service®: Get outage updates and restoration times.
  • Track outages: Bookmark our new Outage Tracker (available in English & Spanish and mobile-friendly) to see outage information in your area.
  • Stay safe: Visit Ready.gov for storm safety tips.
  • Follow us: Real-time updates will be available on X and at CenterPointEnergy.com/ActionCenter.

About CenterPoint Energy, Inc.  
CenterPoint Energy, Inc. (NYSE: CNP) is a multi-state electric and natural gas delivery company serving more than 7 million metered customers across Indiana, Minnesota, Ohio, and Texas. The company is headquartered in Houston and is the only Texas-domiciled investor-owned utility. As of December 31, 2025, the company had approximately $46.5 billion in assets. With approximately 8,800 employees, CenterPoint Energy and its predecessor companies have been serving customers for more than 150 years. For more information, visit CenterPointEnergy.com. ​

While springing forward for Daylight Saving Time, CenterPoint Energy reminds customers to perform vital safety tasks and energy efficiency actions

​MINNEAPOLIS — March 6, 2026 — Daylight Saving Time begins this Sunday, March 8, and CenterPoint Energy is reminding customers not just to use the time to adjust their clocks, but as an annual reminder to practice household safety maintenance and prepare for the warmer temperatures and longer days ahead.

“With warmer weather on the way, Daylight Saving Time is a great reminder to check and replace the batteries in smoke alarms and carbon monoxide detectors as you move your clocks forward by one hour," said Al Payton, CenterPoint Vice President of Safety and Technical Training. “Carbon monoxide is a colorless, odorless gas that is potentially poisonous if inhaled, and fire fatalities occur more often in homes without working smoke alarms. Verifying detectors function properly is one of the simple ways to protect you and your loved ones."

With spring approaching, customers can also use this season reminder to perform energy saving and safety tasks around the home, such as:

  • Changing the filters in HVAC systems: Maintaining a comfortable indoor temperature can represent approximately 50% of a home's energy use. Regular maintenance is one of the best ways to extend the life of a home's system, so swap out or clean filters to minimize costly repairs and to keep the system running efficiently.
  • Cleaning dryer vents: Help prevent fires and keep a dryer running efficiently by clearing lint out

of the duct or tube that goes from the appliance to the outdoors.

  • Sealing air leaks by caulking and weather stripping: To save energy and reduce cooling

costs, take time to caulk areas in and around a home where conditioned air may escape such as
around windows and doors or where warm air could enter.

  • Installing hot water saving measures: Showering accounts for 40% of a home's hot water use,

so energy-saving showerheads and faucet aerators can help lower energy costs and reduce hot
water use without sacrificing comfort.

  • Checking and restocking emergency kits: For items like nonperishable food, water, first aid items, flashlights and other battery-powered devices, Daylight Saving Time is a great reminder to check that emergency supplies are up to date.

By taking small steps to prepare for the longer and warmer days ahead, customers can make a difference in the safety and energy efficiency of their homes, while managing their bills. For additional efficiency tips, visit CenterPointEnergy.com/SavingsTips.


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 activates Emergency Operations Center as teams continue monitoring severe weather forecasted across the Greater Houston area this weekend and preparing for potential impacts

​HOUSTON – March 6, 2026 – With the potential for severe weather, scattered showers, thunderstorms and lightning to impact the Greater Houston area from Friday night through Sunday evening, CenterPoint Energy has proactively activated its Emergency Operations Center. The company continues to diligently monitor forecasts, coordinate with emergency management partners and position resources to be prepared to respond to potential impacts to electric and natural gas service safely and as quickly as possible. ​

“We've been actively monitoring the weather models all week and are prepared to respond to potential impacts to our system," said Matt Lanza, CenterPoint's Manager of Meteorology. “Though the greatest potential for thunderstorms and severe weather appears to be to the north of our service territory on Saturday, we will continue tracking forecasts and adjusting our response plans tomorrow and throughout the weekend. We urge customers to stay aware of evolving weather conditions and have a plan to stay safe."

What CenterPoint is doing:

  • Readying the company's resources:More than 1,400 personnel are executing preparedness actions and will remain ready to support potential restoration efforts through Sunday.
  • Activating Emergency Operations Center: To coordinate storm response efforts throughout the weekend, the company has proactively activated its Emergency Operations Center.​
  • Monitoring 24/7: The Meteorology team continues to track forecast developments, and the company is updating response plans as conditions evolve.
  • Pre-positioning resources: Response teams are developing plans to pre-position crews across the area to respond to any electric or natural gas service interruptions safely and as quickly as possible.
  • Coordinating with local officials: Providing regular updates to local officials and emergency management partners.

“Keeping our customers informed is a top priority, especially during severe weather," said Jesus Soto Jr., CenterPoint Executive Vice President and Chief Operating Officer. “If outages from weather occur, our Outage Tracker is the best way to stay updated with real-time information, including estimated restoration times. We're committed to open communication and working safely and quickly to restore service."

What customers should do:

About CenterPoint Energy, Inc.  
CenterPoint Energy, Inc. (NYSE: CNP) is a multi-state electric and natural gas delivery company serving approximately 7 million metered customers across Indiana, Minnesota, Ohio, and Texas. The company is headquartered in Houston and is the only Texas-domiciled investor-owned utility. As of September 30, 2025, the company had approximately $45 billion in assets. With approximately 8,300 employees, CenterPoint Energy and its predecessor companies have been serving customers for more than 150 years. For more information, visit CenterPointEnergy.com.​