HomeDecember 13, 2011
Sources: Vectren Corp. Seeking Buyers for Vectren Retail
Copyright 2011 EnergyChoiceMatters.com.
Vectren Corp. has commenced a process to sell Vectren Retail d/b/a Vectren Source.
The sale was first reported this morning by SparkSpread.com. Two sources subsequently confirmed the sale to Matters.
A sale was anticipated after Matters first reported that Vectren Retail disclosed in a FERC filing that it needed to cancel its market-based rate authority prior to the end of the year "in order to facilitate the completion of certain business transactions." (see 12/5)
Vectren Source was serving 261,000 customers as of September 30, 2011, of which more than half (140,000) were at affiliate Vectren Energy Delivery, including customers assigned through the Standard Choice Offer.
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