Vectren 2008 Annual Report Download - page 9
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N Aignment
Other Primary Nonutility Operations
Although 2008 results from coal mining operations were
disappointing nancially, we are condent that 2009 will
be an improved year for this business. We are set to open
the rst of two new underground mines in Knox County,
Indiana, by mid-2009 and anticipate nearly 1.4 million tons
of additional coal production this year. Demand for Illinois-
Basin coal has been strong, allowing us to contract 90 percent
of our total 2009 expected production with 70 percent at
signicantly improved pricing. Upon completion of the second
mine in early 2010, Fuels will employ approximately 750
contract miners and is projected to produce approximately
20 percent of Indiana’s coal supply, all within 50 miles of 13
coal-red plants in the southwestern Indiana region.
Miller’s success in the utility pipeline construction business has
been fueled by a need for infrastructure upgrades in the
natural gas, water and wastewater industries. As a partner of
many utilities throughout the Midwest, Southeast and Atlantic
states, including Vectren’s utilities, Miller is positioned well to
bid for contracts on a number of key infrastructure expansion
projects and bare steel and cast iron replacement efforts,
as utilities increase capital expenditures when current credit
markets begin to correct.
Looking Forward
It goes without saying that 2009 will be a challenging year
for our customers given the economic downturn that has left
no one’s life untouched. Although natural gas prices have
Vectren 2008 7