Exhibit 99.2

VECTREN CORPORATION
AND SUBSIDIARY COMPANIES
CONSOLIDATED STATEMENTS OF INCOME
(Millions, except per share amounts)
(Unaudited)
	Three Months					Six Months
	Ended June 30					Ended June 30
	2008			2007		2008		2007
OPERATING REVENUES:
Gas utility	$	224.9		$	191.9	$	858.5	$	776.0
Electric utility		127.2			109.9		254.4		218.0
Nonutility revenues		111.8			119.9		253.1		261.7
Total operating revenues		463.9			421.7		1,366.0		1,255.7
OPERATING EXPENSES:
Cost of gas sold		143.8			114.6		605.8		539.1
Cost of fuel and purchased power		48.5			38.4		94.5		79.0
Cost of nonutility revenues		52.1			56.3		147.4		152.7
Other operating		124.7			111.5		240.5		218.0
Depreciation and amortization		47.4			46.7		94.8		92.4
Taxes other than income taxes		14.4			14.5		41.2		39.2
Total operating expenses		430.9			382.0		1,224.2		1,120.4
OPERATING INCOME		33.0			39.7		141.8		135.3
OTHER INCOME (EXPENSE):
Equity in earnings (losses) of unconsolidated affiliates		(6.5	)		0.5		7.5		22.7
Other - net		3.1			1.8		6.1		9.2
Total other income (expense)		(3.4	)		2.3		13.6		31.9
INTEREST EXPENSE		23.2			23.4		48.5		48.4
INCOME BEFORE INCOME TAXES		6.4			18.6		106.9		118.8
INCOME TAXES		1.7			2.6		38.2		32.7
NET INCOME	$	4.7		$	16.0	$	68.7	$	86.1
AVERAGE COMMON SHARES OUTSTANDING		76.2			75.9		76.1		75.9
DILUTED COMMON SHARES OUTSTANDING		77.1			76.7		76.8		77.0
EARNINGS PER SHARE OF COMMON STOCK
BASIC	$	0.06		$	0.21	$	0.90	$	1.13
DILUTED	$	0.06		$	0.21	$	0.89	$	1.12

The accompanying notes are an integral part of these consolidated condensed financial statements.

VECTREN UTILITY HOLDINGS
AND SUBSIDIARY COMPANIES
CONSOLIDATED STATEMENTS OF INCOME
(Millions)
(Unaudited)
	Three Months				Six Months
	Ended June 30				Ended June 30
	2008		2007		2008		2007
OPERATING REVENUES:
Gas utility	$	224.9	$	191.9	$	858.5	$	776.0
Electric utility		127.2		109.9		254.4		218.0
Other		0.6		0.5		1.2		0.9
Total operating revenues		352.7		302.3		1,114.1		994.9
OPERATING EXPENSES:
Cost of gas sold		143.8		114.6		605.8		539.1
Cost of fuel and purchased power		48.5		38.4		94.5		79.0
Other operating		74.5		65.6		148.5		132.8
Depreciation and amortization		40.9		39.8		81.6		79.0
Taxes other than income taxes		13.9		14.1		40.1		38.3
Total operating expenses		321.6		272.5		970.5		868.2
OPERATING INCOME		31.1		29.8		143.6		126.7
OTHER INCOME - NET		2.2		2.2		4.2		4.9
INTEREST EXPENSE		19.1		18.6		39.9		38.0
INCOME BEFORE INCOME TAXES		14.2		13.4		107.9		93.6
INCOME TAXES		5.4		5.4		41.1		34.7
NET INCOME	$	8.8	$	8.0	$	66.8	$	58.9

The accompanying notes are an integral part of these consolidated condensed financial statements.

VECTREN CORPORATION
AND SUBSIDIARY COMPANIES
CONSOLIDATED BALANCE SHEETS
(Millions - Unaudited)
	June 30,			December 31,
	2008			2007
ASSETS
Current Assets
Cash & cash equivalents	$	12.0		$	20.6
Accounts receivable - less reserves of $6.5 &
$3.7, respectively		159.6			189.4
Accrued unbilled revenues		57.1			168.2
Inventories		134.3			160.9
Recoverable fuel & natural gas costs		17.8			-
Prepayments & other current assets		105.4			160.5
Total current assets		486.2			699.6
Utility Plant
Original cost		4,169.9			4,062.9
Less:  accumulated depreciation & amortization		1,569.3			1,523.2
Net utility plant		2,600.6			2,539.7
Investments in unconsolidated affiliates		182.6			208.8
Other investments		81.2			77.0
Nonutility property - net		343.7			320.3
Goodwill - net		238.0			238.0
Regulatory assets		168.5			175.3
Other assets		38.5			37.7
TOTAL ASSETS	$	4,139.3		$	4,296.4
LIABILITIES & SHAREHOLDERS' EQUITY
Current Liabilities
Accounts payable	$	141.9		$	187.4
Accounts payable to affiliated companies		76.1			83.7
Refundable fuel & natural gas costs		12.7			27.2
Accrued liabilities		182.1			171.8
Short-term borrowings		245.5			557.0
Current maturities of long-term debt		0.3			0.3
Total current liabilities		658.6			1,027.4
Long-term Debt - Net of Current Maturities &
Debt Subject to Tender		1,329.1			1,245.4
Deferred Income Taxes & Other Liabilities
Deferred income taxes		313.3			318.1
Regulatory liabilities		310.7			307.2
Deferred credits & other liabilities		166.0			164.2
Total deferred credits & other liabilities		790.0			789.5
Minority Interest in Subsidiary		0.4			0.4
Common Shareholders' Equity
Common stock (no par value) – issued & outstanding
81.0 and 76.3 shares, respectively		657.9			532.7
Retained earnings		705.9			688.5
Accumulated other comprehensive income (loss)		(2.6	)		12.5
Total common shareholders' equity		1,361.2			1,233.7
TOTAL LIABILITIES & SHAREHOLDERS' EQUITY	$	4,139.3		$	4,296.4

The accompanying notes are an integral part of these consolidated condensed financial statements.

VECTREN CORPORATION
AND SUBSIDIARY  COMPANIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Millions - Unaudited)
	For the three months ended
	June 30,
	2008			2007
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$	68.7		$	86.1
Adjustments to reconcile net income to cash from operating activities:
Depreciation & amortization		94.8			92.4
Deferred income taxes & investment tax credits		18.9			1.9
Equity in earnings of unconsolidated affiliates		(7.5	)		(22.7	)
Provision for uncollectible accounts		8.9			9.1
Expense portion of pension & postretirement periodic benefit cost		3.9			4.9
Other non-cash charges - net		7.2			5.9
Changes in working capital accounts:
Accounts receivable & accrued unbilled revenue		132.0			128.3
Inventories		25.7			35.5
Recoverable/refundable fuel & natural gas costs		(32.3	)		6.9
Prepayments & other current assets		41.2			26.3
Accounts payable, including to affiliated companies		(48.2	)		(103.2	)
Accrued liabilities		18.2			(0.4	)
Unconsolidated affiliate dividends		9.1			17.7
Changes in noncurrent assets		3.9			(9.5	)
Changes in noncurrent liabilities		(13.6	)		(11.0	)
Net cash flows from operating activities		330.9			268.2
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from:
Issuance of common stock		124.9			-
Long-term debt, net of issuance costs		171.2			0.1
Stock option exercises & other		-			5.2
Requirements for:
Dividends on common stock		(49.4	)		(47.8	)
Retirement of long-term debt		(103.3	)		-
Other financing activities		(0.2	)		(0.1	)
Net change in short-term borrowings		(311.8	)		(135.3	)
Net cash flows from financing activities		(168.6	)		(177.9	)
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from:
Unconsolidated affiliate distributions		-			11.6
Other collections		4.3			37.2
Requirements for:
Capital expenditures, excluding AFUDC equity		(164.4	)		(155.2	)
Unconsolidated affiliate investments		(0.1	)		(7.4	)
Other investments		(10.7	)		-
Net cash flows from investing activities		(170.9	)		(113.8	)
Net change in cash & cash equivalents		(8.6	)		(23.5	)
Cash & cash equivalents at beginning of period		20.6			32.8
Cash & cash equivalents at end of period	$	12.0		$	9.3

The accompanying notes are an integral part of these consolidated condensed financial statements.

VECTREN CORPORATION
AND SUBSIDIARY COMPANIES
HIGHLIGHTS
(millions, except per share amounts)
(Unaudited)
	Three Months						Six Months
	Ended June 30						Ended June 30
	2008			2007			2008			2007
REPORTED EARNINGS:
Utility Group	$	8.8		$	8.0		$	66.8		$	58.9
Non-utility Group
Energy Marketing and Services		(6.7	)		1.9			2.3			17.6
Coal Mining		(0.2	)		0.7			(1.1	)		2.3
Energy Infrastructure Services		2.7			4.0			(0.5	)		2.0
Other Businesses		0.2			(0.2	)		1.6			0.1
Total Non-utility Operations		(4.0	)		6.4			2.3			22.0
Corporate and Other		(0.1	)		0.2			(0.4	)		0.4
Sub-Total Operations		4.7			14.6			68.7			81.3
Synfuels-related		-			1.4			-			4.8
Vectren Consolidated	$	4.7		$	16.0		$	68.7		$	86.1

The accompanying notes are an integral part of these consolidated condensed financial statements.

VECTREN CORPORATION
AND SUBSIDIARY COMPANIES
SELECTED GAS DISTRIBUTION
OPERATING STATISTICS
(Unaudited)
	Three Months						Six Months
	Ended June 30						Ended June 30
	2008			2007			2008			2007
GAS OPERATING REVENUES (Millions):
Residential	$	146.2		$	124.2		$	578.0		$	524.0
Commercial		59.6			50.2			234.8			209.8
Industrial		14.8			14.1			37.6			35.4
Miscellaneous Revenue		4.3			3.4			8.1			6.8
	$	224.9		$	191.9		$	858.5		$	776.0
GAS MARGIN (Millions):
Residential	$	50.3		$	49.9		$	163.5		$	155.0
Commercial		15.1			14.3			52.8			49.5
Industrial		11.1			10.0			27.8			25.7
Miscellaneous		4.6			3.1			8.6			6.7
	$	81.1		$	77.3		$	252.7		$	236.9
GAS SOLD & TRANSPORTED (MMDth):
Residential		8.7			9.5			48.9			47.9
Commercial		3.8			4.4			21.4			20.8
Industrial		20.4			18.1			49.1			44.5
		32.9			32.0			119.4			113.2
AVERAGE GAS CUSTOMERS
Residential		899,510			898,664			906,590			905,259
Commercial		83,766			83,709			84,443			84,275
Industrial		1,611			1,610			1,611			1,613
		984,887			983,983			992,644			991,147
YTD WEATHER  AS A PERCENT OF NORMAL:
Heating Degree Days (Ohio)		101	%		93	%		103	%		97	%

The accompanying notes are an integral part of these consolidated condensed financial statements.

VECTREN CORPORATION
AND SUBSIDIARY COMPANIES
SELECTED ELECTRIC
OPERATING STATISTICS
(Unaudited)
	Three Months						Six Months
	Ended June 30						Ended June 30
	2008			2007			2008			2007
ELECTRIC OPERATING REVENUES (Millions):
Residential	$	38.2		$	33.3		$	78.9		$	67.0
Commercial		32.0			26.5			60.1			49.7
Industrial		40.0			33.8			75.0			65.9
Municipals		0.3			6.6			1.0			11.8
Miscellaneous Revenue		3.1			1.7			7.7			4.7
Total Retail		113.6			101.9			222.7			199.1
Net Wholesale Revenues		13.6			8.0			31.7			18.9
	$	127.2		$	109.9		$	254.4		$	218.0
ELECTRIC MARGIN (Millions):
Residential	$	28.3		$	25.3		$	58.3		$	49.4
Commercial		21.7			18.3			41.6			34.0
Industrial		20.6			18.3			39.3			34.8
Municipals		0.0			3.5			0.0			5.7
Miscellaneous		3.0			1.7			7.5			4.6
Total Retail		73.6			67.1			146.7			128.5
Net Wholesale Margin		5.1			4.4			13.2			10.5
	$	78.7		$	71.5		$	159.9		$	139.0
ELECTRICITY SOLD (GWh):
Residential		314.6			352.0			720.0			742.6
Commercial		332.0			353.4			641.8			660.7
Industrial		639.8			676.7			1,240.5			1,303.7
Municipals		13.0			152.0			44.3			282.0
Miscellaneous Sales		4.4			4.3			9.7			9.4
Total Retail		1,303.8			1,538.4			2,656.3			2,998.4
Wholesale		276.9			187.1			740.3			447.6
		1,580.7			1,725.5			3,396.6			3,446.0
AVERAGE ELECTRIC CUSTOMERS
Residential		122,387			121,980			122,571			122,021
Commercial		18,440			18,479			18,454			18,472
Industrial		101			109			102			109
All Others		34			36			34			36
		140,962			140,604			141,161			140,638
YTD WEATHER  AS A PERCENT OF NORMAL:
Cooling Degree Days (Indiana)		97	%		121	%		97	%		126	%
Heating Degree Days (Indiana)		111	%		103	%		102	%		91	%

The accompanying notes are an integral part of these consolidated condensed financial statements.