VECTREN CORPORATION (NYSE:VVC) Files An 8-K Other Events
Item 8.01. Other Events
Resource Planning (IRP) public stakeholder meeting on Tuesday,
November 29, 2016. Carl Chapman, Chairman, President and CEO, and
other members of the Company’s management team provided an
overview of the Company’s preferred integrated resource plan
(preferred plan). During the meeting, the Company proposed a
pathway to modify its electric generation portfolio over the next
two decades, which if implemented, will result in the
diversification of the generation fleet, that in the future, is
likely less reliant on coal. Further, the Company must comply
with a slate of federal mandates over the next several years, the
compliance costs of which have driven the IRP process to consider
alternative fuel sources. Among others, these regulations
include:
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Coal Combustion Residual (CCR): Provides guidelines on coal
ash handling and disposal regulations around the use of ash ponds; and |
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Effluent Limitations Guideline (ELG): Includes more
stringent limitations on wastewater discharges from coal-fired plants; this rule resulted from previous mandates related to air. |
$250 million to comply with the CCR and ELG rules which spurred
the consideration of other options due to the age of some of its
coal-fired generation.
Company’s website at www.vectren.com/irp. While the details of
the preferred plan are not yet finalized, a final IRP report is
expected to be submitted to the Indiana Utility Regulatory
Commission (IURC) for review in December 2016. Additional details
of the preferred plan are expected to be released publicly in
February 2017 and details of a finalized plan are expected to be
released in late summer of 2017.
IRP public stakeholder meeting is furnished as Exhibit 99.1 to
this Current Report on Form 8-K.
Holdings, Inc. (Utility Holdings) and Vectren Enterprises, Inc.
(Enterprises). Utility Holdings is the intermediate holding
company of the Company’s three operating public utilities, and
Enterprises is the holding company for the Company’s nonutility
operations.
Securities Litigation Reform Act of 1995, the Company is hereby
furnishing cautionary statements identifying important factors
that could cause actual results of the Company and its
subsidiaries, including Utility Holdings, 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 +0.62 at 51.15 with 365,621 shares trading hands.