VECTREN CORPORATION (NYSE:VVC) Files An 8-K Other Events
Item 8.01. Other Events
(Vectren), announced that, along with the Indiana Office of the
Utility Consumer Counselor (OUCC) and a coalition of industrial
customers, a settlement had been reached regarding Vectrens
seven-year improvement plan to enhance reliability and modernize
its electric infrastructure, which was filed in February of 2017.
The settlement agreement was filed yesterday with the Indiana
Utility Regulatory Commission (IURC) and completes a
collaborative effort among Vectren, the industrial group and the
OUCC. The IURC is expected to rule on the settlement no later
than September. The original plan featured more than 800 projects
and was estimated to cost $514 million over the plans seven-year
period. The settlement agreement reduces the plan spend to $446
million. The majority of the $68 million reduction relates to the
removal of advanced metering infrastructure (AMI or digital
meters) from this plan. However, deferral of the costs for AMI
was agreed upon in the settlement whereby the company can move
forward with deployment in the near-term. In removing it from the
plan, the request for cost recovery for the project will not
occur until the next base rate review proceeding, which will
begin in 2023. The press release is attached as Exhibit 99.1.
Securities Litigation Reform Act of 1995, Vectren Corporation
(the Company) is hereby furnishing cautionary statements
identifying important factors that could cause actual results of
the Company and its subsidiaries, including Vectren Utility
Holdings, Inc., to differ materially from those projected in
forward-looking statements of the Company and its subsidiaries
made by, or on behalf of, the Company and its subsidiaries. These
cautionary statements are attached as Exhibit 99.2.
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Exhibit
Number
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Description
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99.1
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Press Release
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99.2
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Cautionary Statement for Purposes of the “Safe Harbor”
Provisions of the Private Securities Litigation Reform Act of 1995 |
About VECTREN CORPORATION (NYSE:VVC)
Vectren Corporation (Vectren) is an energy holding Company. The Company segregates its operations into groups, including the Utility Group, the Nonutility Group, and Corporate and Other. The Company’s subsidiary, Vectren Utility Holdings, Inc. (Utility Holdings or VUHI), serves as the intermediate holding company for three public utilities: Indiana Gas Company, Inc. (Indiana Gas), Southern Indiana Gas and Electric Company (SIGECO) and Vectren Energy Delivery of Ohio, Inc. (VEDO). The Company, through Vectren Enterprises Inc. (Enterprises), is involved in non-utility activities in two primary business areas: Infrastructure Services and Energy Services. Infrastructure Services provides underground pipeline construction and repair services. Energy Services provides energy performance contracting and sustainable infrastructure, such as renewables, distributed generation, and combined heat and power projects. VECTREN CORPORATION (NYSE:VVC) Recent Trading Information
VECTREN CORPORATION (NYSE:VVC) closed its last trading session up +0.71 at 59.83 with 273,016 shares trading hands.