SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 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): June 30, 1998





                                  Cinergy Corp.
             (Exact name of registrant as specified in its charter)




   Delaware                   1-11377                   31-1385023
(State or other             (Commission               (IRS Employer
jurisdiction of             File Number)            Identification No.)
 incorporation)






                  139 East Fourth Street, Cincinnati, OH 45202
              (Address of principal executive offices) (Zip Code)





       Registrant's telephone number, including area code: (513) 381-2000









                              ITEM 5. OTHER EVENTS.

Reference is made to the press  release of Cinergy  Corp.,  dated July 14, 1998,
announcing  charges  against  second  quarter 1998  earnings,  which is attached
hereto as Exhibit 99 and incorporated herein by reference.



                   ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.

(c) The following exhibit is filed herewith:

        Exhibit
      Designation                       Nature of Exhibit

          99              Press release of Cinergy Corp., dated July 14, 
                          1998.











                                   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.



                                                Cinergy Corp.
                                                (Registrant)




Date:  July 15, 1998        By:            /s/ John P. Steffen
                                       -----------------------------
                                               John P. Steffen,
                                         Vice President and Comptroller
                                                (Signature)









                                                                      Exhibit 99


News contact:            Steve Brash  513-287-2226 (w)  513-231-6895 (h)
                         Angeline Protogere  317-838-1338 (w)  317-298-3090 (h)

Investor contact:        Felicia Ferguson  513-287-4348

FOR IMMEDIATE RELEASE - JULY 14, 1998

                    CINERGY ANNOUNCES SECOND QUARTER CHARGES

CINCINNATI  --  Cinergy  Corp.  (NYSE:CIN)  announced  today that it will take a
one-time  charge  against  second  quarter  earnings of $80 million ($50 million
after tax), or $.32 per share, reflecting implementation of a 1989 settlement of
a dispute with the Wabash Valley Power Association.

The dispute with WVPA resulted from the  cancellation of the Marble Hill nuclear
power  station in 1984.  The  company  has  assumed  WVPA's  liability  to Rural
Utilities  Service and the  Cooperative  Finance  Corporation and will repay the
obligation with interest over a 35-year term.  Cinergy will use the net proceeds
from a  35-year  power  sales  agreement  with  WVPA to fund the  principal  and
interest on the obligation.

The company  also  announced  that it will  provide  additional  reserves of $65
million ($41 million  after tax), or $.26 per share,  in the second  quarter for
its electric trading business.  These additional reserves reflect the results of
the  company's  reassessment  of the  basis  upon  which it  provides  reserves,
including those for credit exposure, on its existing contracts.

Cinergy  expects no  realized  loss from its  trading  operations  in the second
quarter,   despite  dramatic  swings  in  the  electricity  market,   caused  by
unseasonably  hot  weather in June,  scheduled  and  unplanned  generating  unit
outages in the region and  defaults by several  power  marketers on their supply
obligations.  The company  considered  the effects of these events in estimating
the value of its existing contract positions.

                                     (more)












Page 2.  Cinergy announces second quarter charges

"Implementation  of the WVPA  settlement  has been delayed for nine years," said
James E.  Rogers,  vice  chairman,  president  and chief  executive  officer  of
Cinergy.  "We are pleased to have finally resolved  substantially all the issues
related to this  settlement  in a manner  favorable to the company while putting
this case behind us."

Regarding   electric  trading,   Rogers  said,  "We  have  determined  that  the
unprecedented  volatility  in the  market  in June  did not  cause  the  company
substantial   harm,  and  we  remain  committed  to  being  a  long-term  market
participant.  While we intend to  aggressively  manage our trading  portfolio to
maximize  its value,  we believe it is  appropriate  to provide  the  additional
reserves at this time."

The company will file an 8-K with the  Securities  and Exchange  Commission.  It
expects to announce second quarter earnings on July 23, 1998.

Cinergy Corp. is one of the nation's leading  diversified energy companies.  Its
operating companies, The Cincinnati Gas & Electric Company and PSI Energy, Inc.,
serve more than 1.4 million  electric  customers  and 455,000 gas  customers  in
Indiana,  Ohio and  Kentucky.  The  company  also owns a 50 percent  interest in
Midlands  Electricity  plc, a regional  electric  company in the United  Kingdom
serving 2.2 million customers.