CenterPoint Energy, the Houston-based company with operations throughout Oklahoma, announced this week it plans to sell its natural gas assets in Louisiana and Mississippi in a $1.2 billion agreement with Bernhard Capital partners.
The electricity and gas utility instead indicated it plans to focus on its regulated business. It’s a move similar to those of other U.S utilities who put more stock in the steady returns of regulated operations which are preferred by investors.
CenterPoints assets in Oklahoma are among those regulated or controled by the Corporation Commission.
American Electric Power, parent company of Public Service Company of Oklahoma is one of those firms that sold its unregulated assets in the past year. Duke Energy was another.
CenterPoint is selling 12,000 mile of main pipelines which serve nearly 380,000 customers in Louisiana and Mississippi reported Reuters.
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