Vectren Energy is one of the biggest natural gas suppliers in the state of Ohio. It has more than one million customers in Ohio. It also provides a variety of energy-related services to its customers, such as net metering, electric vehicle charging stations, and rebates on energy efficient gas furnaces.
Vectren, an affiliate of CenterPoint Energy, is Vectren. It serves 1.4 million Ohio customers and has a base of customers in central and southwest Indiana. The company is currently seeking an increase in rates for its gas service territory.
Vectren has a long history of investing in its infrastructure. In the past five years alone, Vectren Energy has made significant upgrades to its facilities. This included the addition of gas turbines to the system, which will ensure reliability and support intermittent renewable energy generation.
Vectren’s request is actually in two parts. The company is first looking to increase rates to pay for infrastructure improvements. They also plan to spread the increase over seven years. Vectren says that customers shouldn’t notice any significant changes to their natural gas bills, despite the improvements.
According to the OUCC, the rate reduction will be under two-thirds of a percent. But, this doesn’t mean that you’ll be able to purchase the most affordable electricity in the state. Although CenterPoint Energy’s cost per month is the highest of all utilities that fall under IURC jurisdiction it still includes sales tax and trackers.
Vectren’s request includes the “necessary sin” which is the replacement of the gas pipeline. As a part of that plan, the company is planning to replace around 2,000 miles of older pipeline with a new, plastic piping system. Over the next seven-year period, $40 million is expected to be derived from state revenue.
Of course, that’s not an exhaustive list of things Vectren is planning on doing in its service area. Vectren is also working on smaller, less well-known projects. They are not connected to its request for a rate hike.
The company also plans to begin an extensive pipeline replacement project over the next few years, which will make improvements to the natural gas delivery network. These include replacing distribution mains and examining transmission pipelines. Although the project will not affect electric rates in Vectren South, it could impact the overall business plan of the company.
The net metering program offered by the company, which allows customers to sell a portion of their electricity that is not used back to the grid, is another major improvement. Customers can save up to 2.75 percent on their monthly electricity bills by using this feature.
Finally, the company’s foundation has been giving out money to organizations that improve the quality of life for its customers and the community. The nonprofit organization distributed over $5 million in grants and sponsorships in the last year. Through the long history of the company, Vectren has been a pioneer in energy conservation and has a history of supporting local economies.