Vectren
| Company type | Public (formerly) |
|---|---|
| Industry | Energy |
| Predecessor | Indiana Gas Company, Southern Indiana Gas and Electric Company (SIGECO) |
| Founded | March 9, 2000 in Evansville, Indiana, United States |
| Defunct | February 1, 2019 |
| Fate | Merged with CenterPoint Energy |
| Successor | CenterPoint Energy |
| Headquarters | Evansville , United States |
Area served | Indiana, Ohio, Midwest and Southeastern United States |
| Products | Natural gas distribution, Electricity supply, Energy performance and infrastructure solutions |
| Owner | CenterPoint Energy (from 2019) |
| Parent | CenterPoint Energy (from 2019) |
| Website | www |
Vectren Corporation was an energy holding company ranked within the Fortune 1000, with its headquarters located in Evansville, Indiana. Its utility branches—Vectren North, Vectren South, and Vectren Energy Delivery of Ohio—served approximately one million natural gas customers across Indiana and Ohio. Additionally, the firm provided electricity to 141,000 clients and operated a generating capacity of 1,425 MW, predominantly coal-powered, within Indiana. Beyond utilities, its non-utility divisions offered energy performance and infrastructure solutions throughout the Midwest and Southeastern United States.
History
Vectren originated from the consolidation of Indiana Gas Company (founded in 1941) and Southern Indiana Gas and Electric Company (SIGECO, established in 1912). The merger proposal was announced in June 1999 by their parent companies, Indiana Energy and SIGCORP, and was completed on March 9, 2000. Later that year, Vectren expanded by acquiring natural gas distribution assets from Dayton Power and Light in western Ohio. In 2006, it acquired Duke Energy’s interest in Miller Pipeline.
The company began trading on the NYSE under the ticker symbol VVC in 2000. Until a corporate restructuring in 2010, Indiana Gas and SIGECO functioned as Vectren’s subsidiaries before being rebranded as Vectren North and Vectren South.
On April 23, 2018, a definitive merger agreement was announced between CenterPoint Energy and Vectren, with CenterPoint assuming the role of parent company. The transaction was finalized on February 1, 2019, resulting in Vectren’s removal from the NYSE. CenterPoint continued to use the Vectren brand within its service area until its retirement on May 3, 2021.
Utilities
Vectren Utility Holdings, the company's principal subsidiary, oversees Vectren Energy Delivery of Indiana - North (Vectren North), Vectren Energy Delivery of Indiana - South (Vectren South), and Vectren Energy Delivery of Ohio (VEDO).
The firm delivers natural gas to roughly 680,000 customers in Indiana—divided between about 570,000 in central regions and 110,000 in southwestern areas—and serves around 314,000 customers in Ohio. Furthermore, it supplies electricity to approximately 142,000 customers located in southwestern Indiana.
Non-utility subsidiaries and affiliates
The non-utility segment of Vectren encompasses divisions focused on Infrastructure Services, Energy Services, and Coal Mining. The company also operates the Vectren Foundation, which is dedicated to fostering community development and promoting energy efficiency initiatives.
Sponsorships
Vectren holds sponsorship rights for the Indianapolis Colts' radio network, known as the "Vectren Radio Network," as well as for the annual Vectren Dayton Air Show.
Finance
On January 29, 2003, Vectren issued a restatement of its 2001 earnings that lowered reported earnings per share by $0.18 due to adjustments related to gas costs and employee benefits. To manage healthcare spending effectively, the company introduced Healthcare Bluebook and Grand Rounds programs for its workforce.