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updated: 5/31/2012 7:25:35 AM
Vectren CEO: 'Real Signs' of Economic Recovery
The chief executive officer of Evansville-based Vectren Corp. (NYSE: VVC) says there is "no question" that signs are pointing to a stronger economy in southwest Indiana. In a Studio(i) interview, Carl Chapman says demand from the utility's largest industrial customers is picking up, but unemployment remains the company's most significant hurdle to growth.
Chapman says Vectren is in "great shape" to meet summer energy demands. The utility has invested $400 million to meet air quality regulations from the Environmental Protection Agency. He says because Vectren has already made those upgrades, customers will not see future rate increases. Chapman says other utilities will have to make similar environmental improvements to keep up.
Chapman says one factor that is helping Vectren is low natural gas costs. Earlier this month, Chapman he said bills are at a decade low, and could stay at those levels for several years. He said the emerging shale gas supply has helped drive costs down.
Source: Vectren Corp., Inside INdiana Business
