HOUSTON — Houston-based CenterPoint Energy Inc. (NYSE: CNP) is shifting its focus to Texas with plans to sell its Ohio gas business.
CEO Jason Wells said during the company’s second-quarter 2025 earnings call that the company anticipates selling the Ohio business will allow it to reprioritize nearly $1 billion of capital expenditures through 2030 to support its Texas jurisdictions. CenterPoint announced in May that it started the process to sell the Ohio gas business.
“As our Houston electric and Texas gas jurisdictions continue to experience increased and accelerated growth, we have decided to shift our strategic focus even more toward Texas,” Wells said on the July 24 call. “The sale will allow us to efficiently recycle cash proceeds to support our continually increasing investment programs.”