Vectren intends to inundate Indiana and Ohio with energy. Through its utility subsidiaries (Indiana Gas Company, Southern Indiana Gas and Electric, and Vectren Energy Delivery of Ohio), the company distributes natural gas to 995,000 business and residential customers in the two states. It also distributes electricity to 141,000 customers and has 1,425 MW of primarily coal-fired generating capacity in Indiana. Vectren's other nonregulated businesses include retail and wholesale energy marketing and management services, coal mining, synthetic fuels production, and utility infrastructure construction.
Vectren Utility Holdings, Inc. oversees the activities of operating subsidiaries Vectren Energy Delivery of Indiana, and Vectren Energy Delivery of Ohio.
Vectren's revenues were $2.1 billion in 2009, down about 16% compared to 2008. The decrease reflected lower power use by large customers and a drop in sales of wholesale power, both due to the recession and milder weather. However, 2009 net income showed a 3% increase to $133 million from the previous year.
In a move to grow its infrastructure services segment, in 2011 Vectren acquired $110 million-in-sales Minnesota Limited. The company is one of the Midwest's largest contractors serving the oil and gas industry.
Carl Chapman was named president and CEO of Vectren in 2010. Chapman was previously Vectren's COO. He replaced Niel Ellerbrook, who remains as the company's board chair.
Utility holding companies Indiana Energy and SIGCORP merged in 2000 to form Vectren; the company expanded into Ohio by acquiring DPL's natural gas operations later that year. – less