Exelon Corporation to Buy Natural Gas Supplier ProLiance Energy

In an effort to expand its presence in the central United States, Exelon Corporation announced it will purchase ProLiance Energy, a natural gas supplier.

Mar 19, 2014 at 1:12PM

Exelon (NYSE:EXC) announced today it has reached an agreement to acquire ETC ProLiance Energy, a supplier of natural gas to commercial and industrial customers, for an undisclosed amount.

The acquisition of the Indianapolis-based supplier will allow Exelon, through its Constellation subsidiary, to expand its customer base across eight states in the central part of the country. The expansion will include Indiana, Illinois, Ohio, Michigan, Iowa, Missouri, Tennessee, and Kentucky. Constellation currently provides power to roughly 100,000 business and public sector customers and approximately 1 million residential customers across the U.S. 

"ProLiance has a strong reputation with its customers and provides a unique opportunity to grow our gas business in the Midwest," said the president of Constellation -- Retail, Mark Huston, in the press release. "We look forward to supporting the customer while leveraging a broader array of Constellation products and services."

The transaction is anticipated to be complete by the end of the second quarter of this year.

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Patrick Morris owns shares of Exelon. The Motley Fool recommends Exelon. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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