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CenterPoint Selling its Retail Gas Business


The company that owns Vectren is selling its natural gas retail business. 

CenterPoint Energy announced Monday that it has entered into an agreement to sell CenterPoint Energy Services to Energy Capital Partners, LLC for about $400 million.

In a release, CenterPoint described Energy Capital as a private equity firm and credit investor specializing in energy infrastructure projects.

CenterPoint said the sale is subject to the satisfaction of customary terms and conditions.

The move came just days after after CenterPoint President and CEO Scott Prochazka (pro-CHAHZ-kuh) resigned.

CenterPoint named John Somerhalder II interim President and CEO.

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