Vectren Corporation was a
Fortune 1000 energy holding company headquartered in
Evansville, Indiana
Evansville is a city in, and the county seat of, Vanderburgh County, Indiana, United States. The population was 118,414 at the 2020 census, making it the state's third-most populous city after Indianapolis and Fort Wayne, the largest city in ...
. Through its utility subsidiaries (Vectren North, Vectren South, and Vectren Energy Delivery of Ohio), the company distributed
natural gas
Natural gas (also called fossil gas or simply gas) is a naturally occurring mixture of gaseous hydrocarbons consisting primarily of methane in addition to various smaller amounts of other higher alkanes. Low levels of trace gases like carbo ...
to approximately one million business and residential customers in
Indiana
Indiana () is a U.S. state in the Midwestern United States. It is the 38th-largest by area and the 17th-most populous of the 50 States. Its capital and largest city is Indianapolis. Indiana was admitted to the United States as the 19th s ...
and
Ohio
Ohio () is a state in the Midwestern region of the United States. Of the fifty U.S. states, it is the 34th-largest by area, and with a population of nearly 11.8 million, is the seventh-most populous and tenth-most densely populated. The sta ...
. It also distributed electricity to 141,000 customers and had 1,425 MW of primarily coal-fired generating capacity in Indiana. Vectren's nonutility subsidiaries and affiliates offered energy-related products and services to customers throughout the Midwest and Southeast. These included energy performance services and energy infrastructure services.
History
The company was formed from the merger of Indiana Gas Company (formed 1941) and Southern Indiana Gas and Electric Company (SIGECO, formed 1912). The two utilities' holding companies, Indiana Energy and SIGCORP, announced plans to merge in June 1999, and received final approval on March 9, 2000. In the fall of 2000, Vectren also acquired the natural gas distribution assets of
Dayton Power and Light in western Ohio. In the fall of 2006, the company purchased
Duke Energy's interest in
Miller Pipeline.
It listed on the NYSE under ticker VVC in 2000.
Indiana Gas and SIGECO served as Vectren's operating companies until a 2010 reorganization saw Indiana Gas renamed Vectren North, while SIGECO was renamed Vectren South.
On April 23, 2018,
CenterPoint Energy
CenterPoint Energy, Inc. is an American Fortune 500 electric and natural gas utility serving several markets in the American states of Indiana, Ohio, Louisiana, Minnesota, Mississippi, and Texas. It was formerly known as Reliant Energy (from wh ...
and Vectren Corporation announced they have entered into a definitive merger agreement, with CenterPoint being the emerging head company. On February 1, 2019, the merger was completed and Vectren was delisted from the NYSE. CenterPoint retained the Vectren name for Vectren’s service territory until it was retired on May 3, 2021.
Utilities
Vectren's largest subsidiary, Vectren Utility Holdings, oversees Vectren Energy Delivery of Indiana - North (Vectren North—the former Indiana Gas), Vectren Energy Delivery of Indiana - South (Vectren South—the former SIGECO) and Vectren Energy Delivery of Ohio (VEDO).
Vectren provides natural gas to 680,000 customers in Indiana (570,000 in central Indiana and 110,000 in southwestern Indiana) and 314,000 customers in Ohio. It provides electricity to 142,000 customers in southwestern Indiana.
Nonutility subsidiaries and affiliates
Vectren's nonutility group consists of three divisions Infrastructure Services, Energy Services, and Coal Mining. Vectren also operates a nonprofit foundation, the Vectren Foundation, which provides assistance for community development and energy efficiency projects.
Sponsorships
Vectren sponsors the radio network of the
Indianapolis Colts NFL football team; the network is referred to on-air as the "Vectren Radio Network". Vectren also sponsors the annual "
Vectren Dayton Air Show"
Finance
On January 29, 2003, Vectren restated its 2001 earnings. As a result of adjustments related to gas and employee benefit costs, 2001 earnings previously reported were reduced by 18 cents per share.
Vectren has installed the
Healthcare Bluebook and
Grand Rounds to reduce employee healthcare cost inflation.
References
External links
Vectren Official Website
{{authority control, state=expanded
Companies formerly listed on the New York Stock Exchange
American companies established in 2000
Energy companies established in 2000
Companies based in Evansville, Indiana
Electric power companies of the United States
Natural gas companies of the United States
2000 establishments in Indiana
2019 mergers and acquisitions