A large Ohio natural gas supplier will be acquired by a Texas energy company.
Vectren Corp., based in Evansville, Ind., service area covers about 20 percent of Ohio, including the Dayton area.
CenterPoint Energy, headquartered in Houston, announced this morning that it had entered into an agreement to join with Vectren to form a company with more than 7 million customers in 40 states.
The deal depends on regulatory and shareholder approval but is expected to be completed the first quarter of 2019.
“Together, we will be a stronger, more competitive company that will be well-positioned to continue to provide value for our stakeholders in the years to come,” stated Carl Chapman, Vectren chairman, president and CEO.
Vectren Energy Delivery of Ohio delivers natural gas to about 318,000 customers in all or portions of Auglaize, Butler, Champaign, Clark, Clinton, Darke, Fayette, Greene, Highland, Logan, Madison, Miami, Montgomery, Pickaway, Preble, Shelby and Warren counties.
After the acquisition, Vectren will become a CenterPoint Energy company with the combined company’s natural gas utilities operations and the Indiana electric operation to be headquartered in Evansville, Ind. The corporate headquarters will be in Houston.
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