Entergy sells natural gas distribution business to Delta Utilities, focusing on electric utility

From Yahoo Finance: 2025-07-02 07:25:00

Entergy has finalized the sale of its natural gas distribution business to Delta Utilities, backed by Bernhard Capital Partners. The $484m cash transaction transfers 3,700 miles of pipelines and 2,200 miles of service lines to Delta Utilities, allowing Entergy to focus on its electric utility business and strengthen its financial position.

The sale, initially agreed upon in October 2023, has been completed after receiving approvals from federal and state regulatory bodies. Entergy’s gas operations previously served 96,000 homes and businesses in Baton Rouge and 108,000 in New Orleans. CEO Drew Marsh expressed confidence in Delta Utilities’ commitment to safe and reliable service for customers.

The net proceeds from the sale will be used for debt repayment and capital investments in Entergy’s electric utility business. The move is part of Entergy’s strategy to invest in a more resilient energy future for the communities it serves. The completion of this transaction marks a major milestone for the company’s transition.

Read more: Entergy completes gas distribution business sale to Delta Utilities