SECURITIES
AND EXCHANGE COMMISSION
Washington,
DC 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of
The
Securities Exchange Act of 1934
Date
of
Report (Date of earliest event reported) October
6, 2006
VECTREN
CORPORATION
(Exact
name of registrant as specified in its charter)
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Commission
File
No.
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Registrant,
State of Incorporation,
Address,
and Telephone Number
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I.R.S
Employer
Identification
No.
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1-15467
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Vectren
Corporation
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35-2086905
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(An
Indiana Corporation)
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One
Vectren Square,
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Evansville,
Indiana 47708
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(812)
491-4000
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Former
name or address, if changed since last report:
Check
the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
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¨
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Written
communications pursuant to Rule 425 under the Securities Act (17
CFR
230.425)
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¨
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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¨
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR
240.14d-2(b))
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¨
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR
240.13e-4(c))
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Item
8.01. Other Events
Vectren
Corporation has elected to resume its participation in the production of
synthetic fuel due to the recent decline in oil prices. This decision is in
accordance with the partnership agreement in place with Pace Carbon Synfuels,
LP, a limited partnership that operates four projects to produce and sell
coal-based synthetic fuel.
With
the
recent decline in oil prices and favorable fuel price projections, the
partnership has elected to resume full production of synthetic fuel, subject
to
the availability of raw material. The Company will continue to monitor changes
in the level and volatility in oil prices and may modify its participation
in
accordance with partnership agreement. The Company has fully hedged 2006
expected production and will continue to evaluate 2007 synfuel opportunities.
As
previously disclosed, the partnership had previously idled all of its synfuel
production in July 2006 due to the level and volatility of oil prices. In
accordance with the partnership agreement, Vectren announced that it had elected
to opt out of its participation in the production of synthetic fuel. Consistent
with the decision to cease participation in production activities, the Company
recorded a $9.5 million or $5.7 million after tax charge in the second quarter
of 2006. The Company expects its involvement in synfuels will produce a net
loss
of $0.04 to $0.06 per share in 2006.
In
connection with the "safe harbor" provisions of the Private 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 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 99.1.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant
has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
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VECTREN
CORPORATION
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October
6, 2006
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By:
/s/ M. Susan Hardwick
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M.
Susan Hardwick
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Vice
President and Controller
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INDEX
TO EXHIBITS
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Exhibit
Number
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Description
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99.1
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Cautionary
Statement for Purposes of the "Safe Harbor" Provisions of the Private
Securities Litigation Reform Act of
1995
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