Vectren Sold to Texas Company, What Does it Mean to Evansville Customers?
This morning it was announced that Evansville-based Vectren Corp. will be acquired by Texas-based energy company CenterPoint. It's a deal estimated to be valued at about $6 billion.
What does that mean for you, the Vectren customer? While not much is known for sure, the answer to that question is, probably not much.
For one thing, you can probably expect the return address of your bill to likely change. Here in Evansville, Vectren will likely soon be known as "CenterPoint," the name of the company that acquired Vectren.
Evansville power-users, which is pretty much every single person in our listening area, probably shouldn't expect too much to change other than the name of the company, at least initially. Many Evansville residents probably remember when, before it was known as Vectren, we got our power from "Sigeco." While Sigeco was the familiar brand, we quickly got used to referring to it as "Vectren." Little changed outside of the name. I expect the same as Vectren transitions into CenterPoint.
According to a press release issued this morning, Carl Chapman, CEO of Vectren, claims that CenterPoint will be making Evansville the location for the headquarters of their natural gas division. He also says that CenterPoint has pledged an additional $3 million for the next five years to the Vectren Foundation, a community-focused charity that will remain headquartered here in the Tri-State.