News Summary
CenterPoint Energy Inc. is divesting its Ohio gas business to concentrate on its Texas operations. This strategic shift, led by CEO Jason Wells, aims to reinvest nearly $1 billion into Texas jurisdictions, responding to growing energy demands as the state continues to expand. The company has appointed Jesus Soto, Jr. as the new Executive Vice President and COO to oversee operations, emphasizing a commitment to sustainable energy solutions and economic growth across Texas. CenterPoint’s planned investment of over $31 billion in the coming years will support their vision for a robust energy future.
Texas: CenterPoint Energy’s Bold Move to Strengthen Local Operations
In a significant development for the energy sector, CenterPoint Energy Inc., headquartered in Houston, is divesting its operations in Ohio to focus on expanding its Texas business. This strategic decision, confirmed by CEO Jason Wells during a quarterly earnings call, underscores the company’s commitment to its Texas operations and the growing energy needs of the state.
Financial Impact on Texas
CenterPoint’s exit from the Ohio market will enable the company to reinvest nearly $1 billion in capital expenditures into Texas jurisdictions by the end of the decade. The decision to sell its Ohio business, first made public in May, aims to streamline operations and support the growing energy demands within the state.
Meeting Growing Demand
The strategic shift comes as Texas experiences an influx of new residents, driving increased demand for reliable energy sources. CenterPoint plans to leverage the financial gains from the sale of its Ohio assets to enhance investment programs that support community growth and infrastructure. With the Texas population on the rise, the necessity for robust energy solutions is paramount.
Leadership Changes to Drive Growth
To catalyze its growth ambitions, CenterPoint has named Jesus Soto, Jr. as the new Executive Vice President and Chief Operating Officer, effective August 11, 2025. Soto brings over three decades of industry experience, including managing significant capital projects and expertise in electric and gas transmission. His extensive background positions him well to lead CenterPoint into its next phase of expansion.
Operational Oversight
In his new role, Soto will supervise a wide array of operations including Electric Operations, Gas Operations, Safety, Supply Chain, and Customer Care across all served states. His qualifications include a bachelor’s and master’s degree in civil engineering, along with an MBA, equipping him with the necessary tools to respond effectively to the energy growth trends in Texas.
Investment Strategy for Future Growth
CenterPoint has outlined an ambitious plan, projecting over $31 billion in investment across its operational footprint over the next five years. Serving approximately 7 million customers in Texas as well as other regions such as Indiana, Minnesota, and Ohio, the company aims not only to maintain current energy supply levels but to explore new opportunities as it develops its Texas-centric business strategy.
Commitment to the Lone Star State
CenterPoint’s decisive move to focus solely on Texas reflects the increasing importance of the state within the national energy landscape. With new leadership and substantial financial resources at its disposal, CenterPoint is set to tackle not just the present energy needs but also to build a sustainable energy future for Texas residents.
As CenterPoint Energy continues to evolve and adapt to the changing energy demands of Texas, the company’s intensified focus promises innovative energy solutions that will enhance economic development across the state while ensuring reliable energy for homes and businesses.
Deeper Dive: News & Info About This Topic
- KHOU: CenterPoint Energy Heads West
- PR Newswire: CenterPoint Energy Names New COO
- Morningstar: CenterPoint Growth Opportunities in Texas
- Click2Houston: CenterPoint Responds to Local Issues
- Google Search: CenterPoint Energy
Author: STAFF HERE AUSTIN WRITER
The AUSTIN STAFF WRITER represents the experienced team at HEREAustinTX.com, your go-to source for actionable local news and information in Austin, Travis County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as SXSW, Austin City Limits Music Festival, Formula 1 United States Grand Prix, and the Austin Film Festival. Our coverage extends to key organizations like the Greater Austin Chamber of Commerce and Visit Austin, plus leading businesses in technology, automotive, and retail that power the local economy such as Dell Technologies, Tesla, and Apple. As part of the broader HERE network, including HERECollegeStation.com, HEREDallas.com, HEREHouston.com, and HERESanAntonio.com, we provide comprehensive, credible insights into Texas's dynamic landscape.
