Merger Expands Illinova Energy Partners' Midwestern Presence

Strategic Insights -

Illinova Energy Partners has made a strategic acquisition of the Indiana-based natural gas management operations of Equitable Resources Marketing Company, marking a significant expansion and strengthening of its Midwestern presence. This move enables the company to offer Indiana businesses new options to reduce their energy costs through efficient energy management services. The acquisition is expected to bring added value to customers with Illinova's expanded range of services.

Key Takeaways:

  • Illinova Energy Partners has acquired the Indiana-based natural gas management operations of Equitable Resources Marketing Company, expanding its presence in the Midwestern region.
  • The acquisition provides Indiana businesses with new options to reduce energy costs through efficient energy management services.
  • Illinova Energy Partners aims to assist customers in reducing and controlling their energy costs by identifying and correcting gas and electric inefficiencies, in addition to managing their gas and electric purchases.
  • The company has a presence in 34 states and has marketed natural gas, wholesale power, and energy services in northern Indiana since early 1998.
  • Illinova has made strategic purchases of energy companies, including the purchase of EMC Gas Transmission Company and half of Tenaska Marketing Ventures.
  • The acquisition is expected to bring added value to customers with Illinova's expanded range of services.

Statistics:

  • Illinova Energy Partners provides energy supply and services to customers in 34 states.
  • The company has marketed natural gas, wholesale power, and energy services in northern Indiana since early 1998.
  • Illinova has over $5 billion in assets through its parent company, Illinova Corporation.
  • The acquisition is expected to bring efficient energy management services and project financing to major industrial customers in Indiana.

Sources:

  • "Merger Provides Indiana Businesses with New Options for Reducing Energy Usage." Business Wire, Feb. 24, 1999.