Exelon (EXC -0.90%) 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.
