Exhibit 99.6

CINERGY CORP.

BUSINESS SEGMENT EARNINGS DRIVER ANALYSIS

For the Quarter Ended September 30, 2004

(unaudited)

Commercial Businesses
Earnings Per Share - diluted - 2003	$	0.29
Employee retirement/severance and other charges	0.02
Weather	(0.01		)
Electric sales volumes	0.01
Power marketing, trading and origination	0.03
Gas marketing, trading and origination	(0.04		)
Energy services	0.02
Fuel costs	(0.01		)
Emissions allowances	(0.05		)
Operating and administrative expenses	(0.01		)
Maintenance expense	(0.01		)
Depreciation	(0.01		)
Other - net	(0.01		)
Earnings Per Share - diluted - 2004	$	0.22
Regulated Businesses
Earnings Per Share - diluted - 2003	$	0.35
Employee retirement/severance and other charges	0.01
Weather	(0.04		)
Electric sales volumes	0.03
Price increases	0.12
Other electric revenues	0.02
Operating and administrative expenses	(0.02		)
Maintenance expense	(0.03		)
Depreciation	(0.07		)
Financing and dilution	(0.01		)
Other - net	(0.02		)
Earnings Per Share - diluted - 2004	$	0.34
Power Technology & Infrastructure Services
Earnings Per Share - diluted - 2003	$	(0.02	)
Employee retirement/severance and other charges	(0.05		)
Results of investments	0.01
Earnings Per Share - diluted - 2004	$	(0.06	)