Houston -- January 17, 2008 --CenterPoint Energy Services, Inc. (CES) and Nordic Energy Services LLC have completed a transaction to transfer to CES Nordic’s commercial natural gas accounts in Indiana. The transaction was completed on Dec. 31, 2007 and CES began providing services on Jan. 1, 2008.
CES is CenterPoint Energy’s non-regulated natural gas marketing group, providing competitively priced natural gas along with related energy management services to commercial, industrial and wholesale customers throughout the Midwest, Gulf Coast and Mid-Atlantic markets. According to Eric Sullivan, CES vice president, "The acquisition of Nordic Energy's commercial accountssubstantially increases our presencein Indiana and is an important part of our overall growth strategy using targeted acquisitions."
When combined with its existing customer portfolio, CES will now provide service to approximately 20 percent of the accounts participating in the NIPSCO (Northern Indiana Public Service Company) Choice Program. "We are excited by this opportunity and believe CenterPoint Energy’s financial strength and CES’ reputation for knowledgeable, personal service will position us to succeed in this market," said Sullivan.
The acquisition includes more than 1,600 individual accounts in the NIPSCO service area, which consists of more than 12,000 commercial accounts who select their natural gas supplier in the NIPSCO Choice Program. CES will provide sales support to the accounts from its Merrillville, Ind. office, with operations and billing handled through its Chicago, Ill office.
Nordic Energy will continue to service Indiana residential customers and expand its offerings into other states over the next several months. "We know there is an incredible opportunity to focus on developing new business right now," said Nordic president James Deering. "Not only do we continue to provide excellent natural gas service to all our current residential customers in Indiana, we will also be giving customers in other statesthe opportunity to utilize Nordic for their energy needs," he added.
CenterPoint Energy, Inc., headquartered in Houston, Texas, is a domestic energy delivery company that includes electric transmission & distribution, natural gas distribution, competitive natural gas sales and services, interstate pipelines and field services operations. The company serves more than five million metered customers primarily in Arkansas, Louisiana, Minnesota, Mississippi, Oklahoma and Texas. Assets total over $17 billion. With about 8,600 employees, CenterPoint Energy and its predecessor companies have been in business for more than 130 years. For more information, visit the Web site at www.CenterPointEnergy.com/CES.