Vectren
 |
|
| Type | Public |
|---|---|
| Traded as | NYSE: VVC |
| Industry | Utilities |
| Founded | 2000 |
| Headquarters | Evansville, Indiana, USA |
| Key people | Carl Chapman, CEO |
| Revenue |  US$2.232 billion (FY 2012)[1] |
| Net income | US$159 Million (FY 2012)[2] |
| Total assets | US$5.09 billion (FY 2012)[3] |
| Employees | 5,400 |
| Website | www.vectren.com |
Vectren Corporation is a Fortune 1000 energy holding company headquartered in Evansville, Indiana. Through its utility subsidiaries (Indiana Gas Company, Southern Indiana Gas and Electric, and Vectren Energy Delivery of Ohio), the company distributes natural gas to approximately one million business and residential customers in Indiana and Ohio. It also distributes electricity to 141,000 customers and has 1,425 MW of primarily coal-fired generating capacity in Indiana. Vectren's nonutility subsidiaries and affiliates currently offer energy-related products and services to customers throughout the Midwest and Southeast. These include gas marketing and related services, coal production and sales, 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.[4]
Utilities
Vectren's wholly owned subsidiary, Vectren Utility Holdings, Inc., serves as the intermediate holding company for three operating utilities: Vectren Energy Delivery of Indiana - North (Vectren North), Vectren Energy Delivery of Indiana - South (Vectren South) and Vectren Energy Delivery of Ohio (VEDO).
Vectren North provides energy delivery services to 570,000 natural gas customers located in central and southern Indiana. Vectren South provides energy delivery services to 142,000 electric customers and 111,000 gas customers located in southwestern Indiana. Vectren South also owns and operates electric generation to serve its electric customers and optimizes those assets in the wholesale power market. VEDO provides energy delivery services to approximately 314,000 natural gas customers located in west central Ohio.
Vectren's total generation is nearly 1,300 megawatts (MW) and includes 1,000 MW of coal-fired generation, 295 MW of gas-fired generation and 3.2 MW of landfill gas-fired power. The primary coal-fired generation comes from A. B. Brown Generating Station, F. B. Culley Generating Station, and Vectren's joint ownership in Unit 4 of the Warrick Power Plant. In addition, the company has 30 MW of purchased wind power and another 100 MW of purchased power. Interruptible load and demand side management initiatives can yield more than 60 MW of energy savings to meet peak demand if needed.
Nonutility Subsidiaries and Affiliates
Vectren's nonutility group is involved in four primary business areas: Infrastructure Services, Energy Services, Energy Marketing and Coal Mining. Infrastructure Services provides underground construction, repair, and replacement services (Miller Pipeline). Energy Services provides energy performance contracting services and renewable energy project development (Energy Systems Group). Energy Marketing markets natural gas (ProLiance). Coal Mining mines and sells coal (Vectren Fuels).[5]
Through the Vectren Foundation, the company provides support to four major areas within its service territory – education, arts and culture, civic, and health and human services.
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". As well they also sponsors the annual "Vectren Dayton Air Show"
References
- ^ "Vectren annual report". SNL. Retrieved 02 May 2013.
- ^ "Vectren annual report". SNL. Retrieved 02 May 2013.
- ^ "Vectren annual report". SNL. Retrieved 02 May 2013.
- ^ "Vectren Corporation". Google Finance. Retrieved 2006-12-25.
- ^ "Vectren Company Website". Retrieved 2006-12-25.
