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ENERGY MARKETING & SERVICES:
ProLiance Energy
Vectren Source
Vectren Corporation is an energy holding company headquartered in Evansville, Indiana. Our
nonutility operations provide energy and energy-related services to customers throughout the
Midwest and Southeast and support our core utility operations of gas and electric services.
Vectren At A Glance
NATURAL GAS:
Vectren North
Vectren South
Vectren Energy Delivery of Ohio
ELECTRIC:
Vectren South
COAL MINING:
Vectren Fuels
ENERGY INFRASTRUCTURE SERVICES:
Miller Pipeline
Energy Systems Group
UTILITY OPERATIONS
NONUTILITY OPERATIONS
Table of Contents
Financial Highlights ................................................... 2
Letter to Shareholders .............................................. 3
Form 10-K ................................................................... 9
Management’s Discussion and Analysis ........ 29
Financial Statements and Notes ...................... 61
Historical Financial Review................................... 118
Performance Chart ................................................ 119
Directors and Ofcers ..........................................120
Shareholder Information .......................................IBC
the symbol “VVC”. As of December 31, 2008, there were 81.0 million
shares outstanding, which were held by 10,039 registered shareholders.
Vectren’s 2009 Annual Meeting will be held at 10 a.m. (Central Daylight
Time), Wednesday, May 13, 2009, at Vectren’s corporate headquarters.
Shareholders of record as of the close of business on March 11, 2009,
will be eligible to vote at the meeting. A live audio-webcast also will be
available at Vectren.com.
ownership, lost certicates, dividend payments and reinvestment and
Form 1099s. Inquiries should be directed to:
Cash dividends of Vectren common stock are considered quarterly by the
board of directors for payment on the rst business day of March, June,
September and December. Vectren and its predecessors have increased
Dividends may be deposited directly into a shareholder’s bank account,
and purchase additional Vectren stock without having to pay brokerage
commissions or service charges through Vectren’s Automatic Dividend
directly through Vectren without having to pay brokerage commissions
brokerage account to a registered account at PNC/National City Bank.
A copy of the prospectus and enrollment form can be found at Vectren.com
Information pertaining to Vectren’s corporate governance including
other documents, can be found at Vectren.com under Investor Relations.
Shareholders and other interested parties may condentially
Committee or the non-employee directors as a group by writing to:
lings, nancial presentations and much more.
Certicates
Vectren hasled as exhibits to its Annual Report on Form 10-K for
thescal year ended Dec. 31, 2008, the certications of its CEO and
CFO required by Section 302 and 906 of the Sarbanes-Oxley Act of
2002. During 2008, Vectren submitted the Annual CEO Certication
required by Section 303A.12(a) of the New York Stock Exchange
This document may contain forward-looking statements, which are based
on management’s beliefs and assumptions that derive from information
currently known by management. Vectren wishes to caution readers
document. More detailed information about these factors is set forth in
Vectren’s lings with the Securities and Exchange Commission, including
Vectren’s 2008 annual report on Form 10-K led on February 19, 2009.
Vectren Energy Delivery’s electric transmission and distribution services provide
electricity to more than 140,000 customers in southwestern Indiana. Five coal-
red electric generation units (1,000 MW) and six peaking turbines (295 MW),
supplemented with purchased power agreements that include wind energy,
provide the power to meet the needs of customers.
Miller provides underground pipeline construction and repair services for
natural gas, water and wastewater companies.
ESG provides energy-saving performance contracting by designing facility
improvements that pay for themselves from energy savings and operational
improvements. ESG also designs, constructs, manages and owns renewable
energy projects.
Vectren Energy Delivery’s natural gas distribution businesses provide natural
gas service to nearly one million customers in adjoining service territories
that cover nearly two-thirds of Indiana and west central Ohio.
Fuels mines and sells coal to Vectren’s utility operations and to other third parties
from its underground mine (Prosperity) and surface mine (Cypress Creek). Fuels
plans to open two new underground mines (Oaktown 1 & 2) with production at
the rst one expected to begin in mid-2009 and at the second one in 2010.
ProLiance’s primary businesses include gas marketing, gas portfolio
optimization, and other portfolio and energy management services
which are provided to a broad range of municipalities, utilities, industrial
operations, schools, and healthcare institutions located throughout the
Midwest and Southeast.
Source provides natural gas and other related products and services in the
Midwest and Northeast to more than 170,000 residential and commercial
customers.