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2011 Annual Report.indd 1 3/2/2012 3:21:25 PM

Table of contents

  • Page 1

  • Page 2
    ... common shareholders' equity (ROE) Shares outstanding at year-end Average shares outstanding for basic earnings 2011 $ 141.6 9.8% 81.9 81.8 2010 2009 $133.7 9.4% 81.7 81.2 $133.1 9.7% 81.1 80.7 Per Common Share Basic earnings Dividends paid Annual dividend rate at year-end Book value Market...

  • Page 3
    ... gas utilities were aided by a continued rebound of large customer usage. The summer of 2011 helped spur electric utility performance with temperatures that were warmer than normal, but it did not match the heat from summer 2010. However, new electric base rates were approved by the Indiana Utility...

  • Page 4
    ... on rates, and accordingly, customer bills and also improve our ability to meet shareholder expectations year after year. Examples of cost-cutting and efficiency ideas fueled by employees include enhancing the process and time needed to install and turn on gas service for new construction projects...

  • Page 5
    ... in other cities within our service territories, including Dayton, Ohio, and Terre Haute, Ind. In fact, in Dayton, we have already built a strong foundation by weatherizing more than 3,000 homes over the past five years through our ongoing program, Project TEEM (Teaching Energy Efficiency Measures...

  • Page 6
    ...comes to energy delivery. On the natural gas side of the business, we are diligently working on our gas modernization plan to ensure the integrity of our underground infrastructure, which spans 22,000 miles. We are on target to hit deadlines on inspections associated with transmission lines and have...

  • Page 7
    ... opened a door of opportunity for our Infrastructure Services division. In fact, the spotlight on safe, reliable infrastructure led us to acquire Minnesota Limited, a large Midwestern transmission pipeline construction contractor serving the natural gas and petroleum industries, in March 2011...

  • Page 8
    ... Source (Source), to Direct Energy, one of North America's largest competitive energy suppliers of electricity, natural gas and related services. Source provided natural gas and related services to approximately 280,000 residential and small business customers in Ohio, New York and northern Indiana...

  • Page 9
    ... service and on exceeding expectations of our customers and our shareholders for years ahead. Vectren is one of very few coal-fired utilities that can readily comply with recent EPA regulations without significant capital investments. Carl L. Chapman Chairman, President & CEO Vectren Corporation...

  • Page 10
    ... March 31, 2011. ** Vectren Source was sold December 31, 2011. See page 14 of the 10-K for more detail on Utility operations. See page 18 of the 10-K for more detail on Nonutility operations. Vectren Utility Service Areas Indiana Ohio Lafayette Muncie Dayton Terre Haute Bloomington Evansville 8

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  • Page 128
    ...Total Total assets Utility Operating Statistics Gas distribution Operating revenues Margin Average customers (in thousands) Electric Operating revenues Margin Average customers (in thousands) Weather as a percent of normal Heating degree days (Ohio) Cooling degree days (Indiana) $ 2011 2,325.2 $ 370...

  • Page 129
    ...26 98.76 130.76 Vectren S&P 500 2012 Peer Group Companies that qualify for inclusion in the 2012 Peer Group include US domiciled companies that meet certain criteria involving primary business as defined by SIC, utility assets, nonutility activities and market capitalization. The specific criteria...

  • Page 130
    ... Corporation and/or Vectren Utility Holdings, Inc., 2011 Annual Report on Form 10-K to the Securities and Exchange Commission (excluding exhibits) may be obtained by shareholders free of charge by written request to Vectren Shareholder Services, One Vectren Square, Evansville, IN 47708; via e-mail...

  • Page 131
    ... Vice President - Information Technology and Customer Service Michael F. Roeder Vice President - Government Affairs and Communications Jeffrey W. Whiteside Vice President - Community Sustainability and President - Vectren Foundation Elizabeth I. Witte Vice President - Planning and Corporate...

  • Page 132
    Corporate Headquarters Vectren Corporation One Vectren Square Evansville, Indiana 47708 (812) 491-4000 www.vectren.com Get Involved The Indiana Utility Shareholders Association is a shareholder-run organization focused on state and national issues that specifically impact utility shareholder value...