ProLiance to be Acquired by Chicago Utility
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowAn Illinois company has announced an agreement to acquire Indianapolis-based ETC ProLiance Energy. The deal with Exelon Corp. (NYSE: EXC) is expected to close in the second quarter of this year. ProLiance is expected to become part of Exelon's Constellation subsidiary. March 19, 2014
News Release
CHICAGO, Ill. – Exelon Corporation today announced it has reached an agreement to purchase ETC ProLiance Energy, an Indianapolis-based supplier of natural gas to commercial and industrial customers, plus power generators and utilities, over 2,500 customer facilities.
One of the largest regional gas marketers in the Midwest, ProLiance serves customers in eight states, including Indiana, Illinois, Ohio, Michigan, Iowa, Missouri, Tennessee and Kentucky.
ProLiance will become part of Exelon subsidiary Constellation, a leading competitive retail supplier of power, natural gas and energy products and services for homes and businesses across the continental United States.
“ProLiance has a strong reputation with its customers and provides a unique opportunity to grow our gas business in the Midwest,” said Mark Huston, president, Constellation – Retail. “We look forward to supporting the customer while leveraging a broader array of Constellation products and services.”
Formed in 1996, ProLiance is a subsidiary of ETC Marketing, Ltd., a Dallas-based energy marketing company. The transaction is expected to close in the second quarter of this year.
Exelon Corporation (NYSE: EXC) is the nation's leading competitive energy provider, with 2013 revenues of approximately $24.9 billion. Headquartered in Chicago, Exelon has operations and business activities in 47 states, the District of Columbia and Canada. Exelon is one of the largest competitive U.S. power generators, with approximately 35,000 megawatts of owned capacity comprising one of the nation's cleanest and lowest-cost power generation fleets. The company's Constellation business unit provides energy products and services to approximately 100,000 business and public sector customers and approximately 1 million residential customers. Exelon's utilities deliver electricity and natural gas to more than 6.6 million customers in central Maryland (BGE), northern Illinois (ComEd) and southeastern Pennsylvania (PECO).
Source: Exelon Corp.