Vectren 2014 Annual Report Download - page 41
Download and view the complete annual report
Please find page 41 of the 2014 Vectren annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.![](/annual_reports_html/Vectren-2014-Annual-Report-bf399bd/bg_41.png)
0SEFSTQSPWJEFGPSUIFEFGFSSBMPGEFQSFDJBUJPOBOEQPTUJOTFSWJDFDBSSZJOHDPTUTPORVBMJGZJOHQSPKFDUTUPUBMJOHNJMMJPO
BOOVBMMZBU*OEJBOB(BTBOENJMMJPOBOOVBMMZBU4*(&$05IFEFCUSFMBUFEQPTUJOTFSWJDFDBSSZJOHDPTUTBSFSFDPHOJ[FEJO
UIF$POTPMJEBUFE4UBUFNFOUTPG*ODPNFDVSSFOUMZ5IFSFDPSEJOHPGQPTUJOTFSWJDFDBSSZJOHDPTUTBOEEFQSFDJBUJPOEFGFSSBMJT
MJNJUFECZJOEJWJEVBMRVBMJGZJOHQSPKFDUUPUISFFZFBSTBGUFSCFJOHQMBDFEJOUPTFSWJDFBU4*(&$0BOEGPVSZFBSTBGUFSCFJOHQMBDFE
JOUPTFSWJDFBU*OEJBOB(BT"U%FDFNCFSBOEUIF$PNQBOZIBTSFHVMBUPSZBTTFUTUPUBMJOHNJMMJPOBOE
NJMMJPOSFTQFDUJWFMZBTTPDJBUFEXJUIUIFEFGFSSBMPGEFQSFDJBUJPOBOEEFCUSFMBUFEQPTUJOTFSWJDFDBSSZJOHDPTUBDUJWJUJFT
#FHJOOJOHJOBMMCBSFTUFFMBOEDBTUJSPOSFQMBDFNFOUBDUJWJUJFTBSFOPXQBSUPGUIF$PNQBOZbTTFWFOZFBSDBQJUBM
JOWFTUNFOUQMBOGJMFEQVSTVBOUUP4FOBUF#JMMEJTDVTTFEGVSUIFSCFMPX
3FRVFTUTGPS3FDPWFSZ6OEFS*OEJBOB3FHVMBUPSZ.FDIBOJTNT
0O"VHVTUUIF$PNNJTTJPOJTTVFEBO0SEFSBQQSPWJOHUIF$PNQBOZbTTFWFOZFBSDBQJUBMJOGSBTUSVDUVSFSFQMBDFNFOU
BOEJNQSPWFNFOUQMBOCFHJOOJOHJOBOEUIFQSPQPTFEBDDPVOUJOHBVUIPSJUZBOESFDPWFSZQVSTVBOUUP4FOBUF#JMMBOE
"TQSPWJEFEJOUIFUXPMBXTUIF0SEFSBQQSPWFETFNJBOOVBMGJMJOHTGPSSBUFSFDPWFSZPGQFSDFOUPGUIFDPTUTJODMVTJWF
PGSFUVSOSFMBUFEUPUIFTFDBQJUBMJOWFTUNFOUTBOEPQFSBUJOHFYQFOTFTBTTPDJBUFEXJUIQJQFMJOFTBGFUZSVMFTXJUIQFSDFOUPG
UIFDPTUTSFDPWFSFEDVSSFOUMZWJBBOBQQSPWFEUSBDLJOHNFDIBOJTNBOEQFSDFOUPGUIFDPTUTEFGFSSFEBOESFDPWFSFEJOUIF
$PNQBOZbTOFYUCBTFSBUFQSPDFFEJOH*OBEEJUJPOUIF0SEFSFTUBCMJTIFEHVJEFMJOFTUPVQEBUFUIFTFWFOZFBSDBQJUBM
JOWFTUNFOUQMBOBOOVBMMZXJUIEFUBJMFEFTUJNBUFTQSPWJEFEGPSUIFVQDPNJOHDBMFOEBSZFBS'JOBMMZUIF0SEFSBQQSPWFEUIF
$PNQBOZbTQSPQPTBMUPSFDPWFSFMJHJCMFDPTUTWJBBGJYFENPOUIMZDIBSHFQFSSFTJEFOUJBMDVTUPNFS0O4FQUFNCFSUIF
*OEJBOB0GGJDFPG6UJMJUZ$POTVNFS$PVOTFMPS06$$GJMFEB/PUJDFPG"QQFBMXJUIUIF*OEJBOB$PVSUPG"QQFBMTJOSFTQPOTFUP
UIF*63$T0SEFS0O+BOVBSZUIF06$$GJMFEJUTBQQFMMBUFCSJFGSBJTJOHBOJTTVFSFHBSEJOHUIFUSFBUNFOUPGSFUJSFE
BTTFUTXJUIJOUIFSFDPWFSZNFDIBOJTN"OBQQFBMXBTBMTPGJMFEJOSFTQPOTFUPUIF*63$T0SEFSJO/PSUIFSO*OEJBOB1VCMJD
4FSWJDF$PNQBOZT/*14$04FOBUF#JMMFMFDUSJDJOGSBTUSVDUVSFQSPDFFEJOHQFSUBJOJOHUPDFSUBJOJTTVFTSFHBSEJOHUIF
$PNNJTTJPOTBVUIPSJUZUPBQQSPWF/*14$0TJOGSBTUSVDUVSFQMBO5IFPVUDPNFPGOFJUIFSBQQFBMBOEUIFJNQMJDBUJPOTUPUIF
$PNQBOZbT0SEFSJGBOZDBOOPUCFEFUFSNJOFE
0O+BOVBSZUIF$PNNJTTJPOJTTVFEBO0SEFSBQQSPWJOHUIF$PNQBOZbTJOJUJBMSFRVFTUGPSSFDPWFSZPGUIFSFWFOVF
SFRVJSFNFOUBTTPDJBUFEXJUIDBQJUBMJOWFTUNFOUBOEBQQMJDBCMFPQFSBUJOHDPTUTUISPVHI+VOFBTQBSUPGJUTBQQSPWFE
TFWFOZFBSQMBO"TUIFOFYUTUFQPGUIFSFDPWFSZQSPDFTTBTPVUMJOFEJOUIFMFHJTMBUJPOUIJT0SEFSJOJUJBUFTUIFSBUFTBOE
DIBSHFTOFDFTTBSZUPCFHJODBTISFDPWFSZPGQFSDFOUPGUIFSFWFOVFSFRVJSFNFOUXJUIUIFSFNBJOJOHQFSDFOUEFGFSSFEGPS
SFDPWFSZJOUIF$PNQBOZTOFYUSBUFDBTFT"MTPDPOTJTUFOUXJUIUIFHVJEFMJOFTTFUGPSUIJOUIFPSJHJOBM"VHVTU0SEFSUIF
$PNNJTTJPOBQQSPWFEUIF$PNQBOZbTVQEBUFUPJUTTFWFOZFBSQMBOUPSFGMFDUDIBOHFTUPQSPKFDUQSJPSJUJ[BUJPOBTBSFTVMUPGCPUI
BEEJUJPOBMSJTLNPEFMJOHBOEDPTUJODSFBTFT5IFVQEBUFEQMBOSFGMFDUTDBQJUBMFYQFOEJUVSFTPGBQQSPYJNBUFMZNJMMJPOBO
JODSFBTFPGNJMMJPOGSPNUIFQSFWJPVTQMBOBOEJTJODMVTJWFPGBOFTUJNBUFENJMMJPOPGFDPOPNJDEFWFMPQNFOUSFMBUFE
FYQFOEJUVSFTPWFSUIFTFWFOZFBSQFSJPECFHJOOJOHJO5IFQMBOBMTPJODMVEFTBQQSPYJNBUFMZNJMMJPOPGBOOVBM
PQFSBUJOHDPTUTBTTPDJBUFEXJUIQJQFMJOFTBGFUZSVMFT
0IJP3FDPWFSZBOE%FGFSSBM.FDIBOJTNT
5IF16$00SEFSBQQSPWJOHUIF$PNQBOZTCBTFSBUFDBTFJOUIF0IJPTFSWJDFUFSSJUPSZBVUIPSJ[FEBEJTUSJCVUJPO
SFQMBDFNFOUSJEFS%335IF%33TQSJNBSZQVSQPTFJTSFDPWFSZPGJOWFTUNFOUTJOVUJMJUZQMBOUBOESFMBUFEPQFSBUJOHFYQFOTFT
BTTPDJBUFEXJUISFQMBDJOHCBSFTUFFMBOEDBTUJSPOQJQFMJOFTBOEDFSUBJOPUIFSJOGSBTUSVDUVSF5IJTSJEFSJTVQEBUFEBOOVBMMZGPS
RVBMJGZJOHDBQJUBMFYQFOEJUVSFTBOEBMMPXTGPSBSFUVSOUPCFFBSOFEPOUIPTFDBQJUBMFYQFOEJUVSFTCBTFEPOUIFSBUFPGSFUVSO
BQQSPWFEJOUIFCBTFSBUFDBTF*OBEEJUJPOEFGFSSBMPGEFQSFDJBUJPOBOEUIFBCJMJUZUPBDDSVFEFCUSFMBUFEQPTUJOTFSWJDF
DBSSZJOHDPTUTJTBMTPBMMPXFEVOUJMUIFSFMBUFEDBQJUBMFYQFOEJUVSFTBSFJODMVEFEJOUIF%335IF0SEFSBMTPJOJUJBMMZFTUBCMJTIFE
BQSPTQFDUJWFCJMMJNQBDUFWBMVBUJPOPOUIFBOOVBMEFGFSSBMT5PEBUFUIF$PNQBOZIBTNBEFDBQJUBMJOWFTUNFOUTVOEFSUIJT
SJEFSUPUBMJOHNJMMJPO3FHVMBUPSZBTTFUTBTTPDJBUFEXJUIQPTUJOTFSWJDFDBSSZJOHDPTUTBOEEFQSFDJBUJPOEFGFSSBMTXFSF
NJMMJPOBOENJMMJPOBU%FDFNCFSBOE%FDFNCFSSFTQFDUJWFMZ%VFUPUIFFYQJSBUJPOPGUIFJOJUJBM
GJWFZFBSUFSNGPSUIF%33JOFBSMZUIF$PNQBOZGJMFEBSFRVFTUJO"VHVTUUPFYUFOEBOEFYQBOEUIF%330O
'FCSVBSZUIF16$0JTTVFEBO0SEFSBQQSPWJOHB4UJQVMBUJPOFOUFSFEJOUPCZUIF16$04UBGGBOEUIF$PNQBOZXIJDI
QSPWJEFEGPSUIFFYUFOTJPOPGUIF%33GPSUIFSFDPWFSZPGDPTUTJODVSSFEUISPVHIBOEFYQBOEFEUIFUZQFTPGJOWFTUNFOU
DPWFSFECZUIF%33UPJODMVEFSFDPWFSZPGPUIFSJOGSBTUSVDUVSFJOWFTUNFOUT5IF0SEFSMJNJUTUIFSFTVMUJOH%33GJYFEDIBSHFQFS
NPOUIGPSSFTJEFOUJBMBOETNBMMHFOFSBMTFSWJDFDVTUPNFSTUPTQFDJGJDHSBEVBUFEMFWFMTPWFSUIFOFYUGJWFZFBST5IF$PNQBOZT
GJWFZFBSDBQJUBMFYQFOEJUVSFQMBOSFMBUFEUPUIFTFJOGSBTUSVDUVSFJOWFTUNFOUTGPSDBMFOEBSZFBSTUISPVHIUPUBMT
BQQSPYJNBUFMZNJMMJPOTVCKFDUUPUIFHSBEVBUFEDBQTPOUIFGJYFE%33NPOUIMZDIBSHFBQQMJDBCMFUPSFTJEFOUJBMBOETNBMM