Vectren Source Reports Customer Growth

Vectren Source reported a seasonal loss of $3.6 million in the third quarter of 2011, consistent with the year-ago loss of $3.5 million.

Vectren Source's customer count as of September 30, 2011 was approximately 261,000 customers, compared to 258,000 customers as of June 30, 2011, and 204,000 customers as September 30, 2010.

The 2011 customer count reflects nearly 140,000 customers at Vectren Energy Delivery of Ohio who are served by Vectren Source either through an affirmative election, or through assignment to Vectren Source under the Standard Choice Offer auction.

Vectren Source won two tranches of customers in the Vectren Energy Delivery Standard Choice Offer auction held on January 18, 2011 (versus a single tranche in 2010), with each tranche consisting of 28,000 customers.

For the quarter ending September 30, 2011, Vectren Source's margin was negative $2.5 million, versus negative $2.4 million a year ago.

Year-to-date earnings for Vectren's retail supplier were approximately $1.0 million, versus $800,000 through the first nine months of 2010.

For the year, Vectren Source is expected to meet its earnings target of approximately $4.0 million.