CenterPoint Finalizes Sale of 12,000 Miles of Gas Pipelines in Louisiana, Mississippi
(P&GJ) — CenterPoint Energy has completed the sale of its natural gas distribution businesses in Louisiana and Mississippi to affiliates of Bernhard Capital Partners. The divested assets include roughly 12,000 miles of pipeline and serve about 380,000 metered customers.
The new utility provider, Delta Utilities, based in New Orleans, will take over operations and customer service in both states.
The deal received all required federal and state regulatory approvals, including clearance from the Louisiana Public Service Commission, the Mississippi Public Service Commission, and antitrust review under the Hart-Scott-Rodino Act.
“I would like to thank our Louisiana and Mississippi employees and those that support these businesses for their dedication to customer service and quality,” said Jason Wells, CenterPoint President and CEO. “We will continue to support Delta Utilities towards a smooth transition for the benefit of the customers served in those jurisdictions.”
Wells also noted that the proceeds from the sale will help fund CenterPoint’s long-term capital investment plans aimed at improving system safety, reliability, and resiliency.
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