CenterPoint Energy has announced that it successfully completed the previously announced sale of its natural gas distribution utilities in Arkansas and Oklahoma to Summit Utilities. The assets include approximately 17,000 miles of main pipeline in Arkansas, Oklahoma and Texarkana, serving more than 500,000 residential and business customers. The all-cash transaction, which was announced in April 2021, was valued at $2.15 billion.
The transaction received all necessary federal and state regulatory approvals, including from the Arkansas Public Service Commission, Oklahoma Corporation Commission and Federal Energy Regulatory Commission. Summit will immediately assume responsibility for serving CenterPoint Energy’s former customers in Arkansas, Oklahoma and Texarkana.
“We want to thank our employees and those of Summit for the successful completion of this transaction,” said Scott Doyle, energy executive vice president, utility operations at CenterPoint.