Vectren Corporation was a Fortune 1000 energy holding company headquartered in Evansville, Indiana. Through its utility subsidiaries (Vectren North, Vectren South, and Vectren Energy Delivery of Ohio), the company distributed natural gas to approximately one million business and residential customers in Indiana and Ohio. 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.
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.[2]
It listed on the NYSE under ticker VVC in 2000.[citation needed]
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 and Vectren Corporation announced they have entered into a definitive merger agreement, with CenterPoint being the emerging head company.[3] On February 1, 2019, the merger was completed and Vectren was delisted from the NYSE. [4] 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.[5] It provides electricity to 142,000 customers in southwestern Indiana.[6]
Nonutility subsidiaries and affiliates
Vectren's nonutility group consists of three divisions Infrastructure Services, Energy Services, and Coal Mining.[7] Vectren also operates a nonprofit foundation, the Vectren Foundation, which provides assistance for community development and energy efficiency projects.[8]
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.[9] Vectren has installed the Healthcare Bluebook and Grand Rounds to reduce employee healthcare cost inflation.
References
^ abc"Vectren annual report" (PDF). SNL. Retrieved 2 May 2013.
^"Vectren Corporation". Google Finance. Retrieved 2006-12-25.
^ "Special Message - Vectren and CenterPoint Energy announce merger of companies". www.vectren.com. Retrieved 2018-06-05.
^"Vectren Corporation Restates 2001 and Begins Reaudit of 2000".
External links
Vectren Official Website
Historical business data for Vectren:
SEC filings
January 25, 2023
vectren, corporation, fortune, 1000, energy, holding, company, headquartered, evansville, indiana, through, utility, subsidiaries, north, south, energy, delivery, ohio, company, distributed, natural, approximately, million, business, residential, customers, in. Vectren Corporation was a Fortune 1000 energy holding company headquartered in Evansville Indiana Through its utility subsidiaries Vectren North Vectren South and Vectren Energy Delivery of Ohio the company distributed natural gas to approximately one million business and residential customers in Indiana and Ohio 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 Vectren CorporationTypeSubsidiaryIndustryUtilitiesFounded2000HeadquartersEvansville Indiana United StatesKey peopleCarl Chapman CEORevenueUS 2 232 billion FY 2012 1 Net incomeUS 159 Million FY 2012 1 Total assetsUS 5 09 billion FY 2012 1 Number of employees5 400ParentCenterPoint EnergyWebsitewww vectren com Contents 1 History 2 Utilities 3 Nonutility subsidiaries and affiliates 4 Sponsorships 5 Finance 6 References 7 External linksHistory EditThe 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 2 It listed on the NYSE under ticker VVC in 2000 citation needed Vectren s Riverfront Headquarters in Downtown Evansville 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 and Vectren Corporation announced they have entered into a definitive merger agreement with CenterPoint being the emerging head company 3 On February 1 2019 the merger was completed and Vectren was delisted from the NYSE 4 CenterPoint retained the Vectren name for Vectren s service territory until it was retired on May 3 2021 Utilities EditVectren 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 5 It provides electricity to 142 000 customers in southwestern Indiana 6 Nonutility subsidiaries and affiliates EditVectren s nonutility group consists of three divisions Infrastructure Services Energy Services and Coal Mining 7 Vectren also operates a nonprofit foundation the Vectren Foundation which provides assistance for community development and energy efficiency projects 8 Sponsorships EditVectren 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 EditOn 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 9 Vectren has installed the Healthcare Bluebook and Grand Rounds to reduce employee healthcare cost inflation References Edit a b c Vectren annual report PDF SNL Retrieved 2 May 2013 Vectren Corporation Google Finance Retrieved 2006 12 25 Special Message Vectren and CenterPoint Energy announce merger of companies www vectren com Retrieved 2018 06 05 Brown Alex Vectren CenterPoint Merger Complete www insideindianabusiness com Retrieved 2019 02 15 Three Indiana gas utilities face pipeline safety fines Retrieved 2017 03 16 Economic Development vectrened com Retrieved 2017 03 16 Vectren Company Website Retrieved 2006 12 25 Vectren Foundation www vectren com Retrieved 2017 03 16 Vectren Corporation Restates 2001 and Begins Reaudit of 2000 External links EditVectren Official Website Historical business data for Vectren SEC filings Retrieved from https en wikipedia org w index php title Vectren amp oldid 1084887348, wikipedia, wiki, book, books, library,
