A Houston energy company with Oklahoma ties is finalizing its merger with an Indiana company.
Back in April, CenterPoint Energy announced that it would acquire Vectren Corp. The newly expanded company will continue as CenterPoint Energy with its headquarters office in Houston.
The $6 billion deal is expected to close in the first quarter of 2019. The merger will expand CenterPoint’s electricity and natural gas operations into Ohio and Indiana.
CenterPoint currently offers service in many Oklahoma rural communities including Ada, Altus, Atoka, Chickasha, Cushing, Duncan, Lawton, McAlester, Seminole, Watonga and Weatherford.
Scott Prochazka, CenterPoint’s president and chief executive officer, will remain at the helm of the new organization.
Tracy Bridge, CenterPoint’s electric division president, will lead the company’s Texas electric utility business. Bridge will be responsible for electric transmission, distribution and power delivery in the Houston area.
Scott Doyle, CenterPoint’s senior vice president of natural gas distribution, will lead the company’s natural gas utility business from Indiana. Doyle will be responsible for the company’s eight-state natural gas operations.
Upon completion of the merger, CenterPoint will operate regulated utilities in eight states with seven million customers, including 2.4 million in the Houston area.
