8-K

SECURITIES AND EXCHANGE COMMISSIONWASHINGTON, 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): October 27, 2005

CINERGY CORP.(Exact Name of Registrant as Specified in Its Charter)

Commission File Number	Registrant, State of Incorporation, Address and Telephone Number	I.R.S. Employer Identification No.
1-11377	CINERGY CORP. (A Delaware Corporation) 139 East Fourth Street Cincinnati, Ohio 45202 (513) 421-9500	31-1385023

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:

ý            Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o            Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o            Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o            Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02.  Results of Operations and Financial Condition

On October 27, 2005, Cinergy Corp. issued a press release announcing its third quarter 2005 earnings.  A copy of the press release and related attachments are attached hereto as Exhibits 99.1, 99.2, 99.3, 99.4, 99.5, 99.6, 99.7, 99.8 and 99.9 and are incorporated into this Report by reference.

The information in this Form 8-K is furnished under “Item 2.02.  Results of Operations and Financial Condition.”  The information in this Form 8-K and the Exhibits attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall they be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.

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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.
Dated: October 27, 2005	/s/ LYNN J. GOOD
	Name: Lynn J. Good Title: Executive Vice President and Chief Financial Officer

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EX-99.1

N   E   W   S      R   E   L   E   A   S   E Cinergy Corp. 139 East Fourth Street P.O. Box 960 Cincinnati, OH  45201-0960

News contact:                       Steve Brash  513-287-2226 (w)  513-543-7489 (c)

                                                Angeline Protogere  317-838-1338 (w)  317-367-3306 (p)

Investor contact:  Brad Arnett  513-287-3024

                                                                                                                                                       & #160;       

Web site:                               www.cinergy.com

FOR IMMEDIATE RELEASE — OCTOBER 27, 2005

CINERGY REPORTS STRONG EARNINGS FOR THE THIRD QUARTER

RAISES 2005 EARNINGS GUIDANCE

Webcast of Analyst Conference Call Scheduled Today for 9:00 a.m. EDT on Cinergy.com

CINCINNATI — Cinergy Corp. (NYSE:CIN) today reported net income for the third quarter of 2005 of $132 million, or $0.66 per share on a diluted basis, compared with net income of $93 million, or $0.50 per share on a diluted basis for the third quarter of 2004.

Excluding the impacts of certain adjustments described below, adjusted earnings for the third quarter of 2005 were a record $0.97 per share, compared with $0.65 per share for the third quarter of 2004.

“The $0.97 per share of adjusted earnings represents Cinergy’s best quarter ever, and we’re pleased that this success was driven by many strong performances across our company,” said James E. Rogers, chairman and chief executive officer.  “While we benefited from very favorable weather, I’m also extremely proud of the way our employees have worked to drive costs out of our businesses, while at the same time operating and maintaining our entire system so that we met the challenges of a very hot summer.”

Cooling degree days during the quarter were almost 30 percent above normal and about 68 percent above last year.  In July, customers of the Cinergy operating companies set a new record peak demand for electricity of 12,001 megawatts (MW), breaking the old record of 11,305 MW set in August 2002 by more than 6 percent.

“Our commercial businesses delivered a solid contribution this quarter by capitalizing on commodity market price movements,” said Rogers.  “In particular, the recent steps we’ve taken to strengthen our commercial gas business placed them in a position to profitably participate in an extraordinary period of gas price volatility.”

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Unaudited consolidated statements of income for the quarter and year-to-date ended September 30, 2005 and 2004, and unaudited consolidated balance sheets as of September 30, 2005 and December 31, 2004 can be found in Schedules 1 and 2, respectively, of this release.

Earnings Adjustments

Cinergy uses adjusted earnings internally for analysis of performance and for reporting results to the Board of Directors to provide a more meaningful representation of Cinergy’s fundamental earnings power.  The company also uses adjusted earnings when communicating its earnings outlook to analysts and investors.

Reported earnings for the third quarter of 2005 were negatively impacted by ($0.27) per share resulting from the recognition of a net unrealized mark-to-market loss on gas, fuel and power contracts that hedge our gas storage and generation portfolios.  These contracts, which are economic hedges, do not meet the accounting requirements to qualify for accrual accounting.   Reported earnings for the quarter were also reduced by ($0.04) per share for severance payments and certain costs incurred in connection with the proposed merger with Duke Energy announced in May 2005.

In 2004, reported earnings were impacted in the third quarter by losses from similar unrealized mark-to-market adjustments of ($0.07) per share and by charges of ($0.08) per share for implementation costs relating to the company’s “CIN-10” continuous improvement initiative and the write-down or disposal of certain investments.

Reconciliations of the items above, which are included in reported earnings as determined in accordance with generally accepted accounting principles (GAAP) but excluded from adjusted earnings, can be found in Schedules 3 and 4 of this release.

Business Segment Results

The Regulated Businesses segment reported adjusted earnings of $0.48 per share in the third quarter of 2005 compared with adjusted earnings of $0.32 per share in the same period of

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2004.  The increase in earnings was primarily due to increased sales to retail customers resulting from warmer than normal summer weather.

Third quarter adjusted earnings from the Commercial Businesses segment were $0.49 per share in 2005 compared with adjusted earnings of $0.34 per share from a year earlier.  The increase in earnings was primarily due to weather and higher margins realized from portfolio optimization activities, gas marketing and trading activities and generation assets serving Ohio commercial and industrial customers.

Adjusted earnings for the Power Technology and Infrastructure Services segment were flat, or $0.00 per share, for the third quarter of 2005, as compared to an adjusted ($0.01) per share loss from the prior year.

Complete details of third quarter and year-to-date 2005 results compared to 2004 can be found in Schedules 5 through 8 of this release.

Earnings Guidance

After taking into consideration the strong results from the third quarter, the company is increasing its previously issued earnings guidance for 2005 to a range of $2.60 to $2.75 per share on an adjusted basis.  GAAP earnings for 2005 are expected to be in the range of $2.15 to $2.30 per share.

Other Activities

Cinergy and Duke Energy continue to make progress in the regulatory approval process associated with their proposed merger announced in May 2005.  The companies have received early termination from the U.S. Department of Justice and Federal Trade Commission of the waiting period imposed by the Hart-Scott-Rodino Antitrust Improvements Act of 1976.  Settlements with intervening parties have been reached in state regulatory proceedings in Kentucky and South Carolina, where the agreements are being reviewed by state regulators.  Negotiations are proceeding in Indiana, Ohio and North Carolina.  Cinergy and Duke expect to file an amended joint proxy statement/prospectus, which will include third quarter 2005 pro forma financial information for the companies, with the Securities and Exchange Commission in December and to hold their respective special meeting of shareholders in February 2006.

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In the third quarter, Cinergy was named for the third straight year to the Dow Jones World Sustainability Indexes, an international benchmark for excellence in social, economic and environmental leadership.  The company was one of only two U.S. utilities to be selected to the Indexes.  The World Indexes cover the top ten percent of the 2,500 largest companies in the world, providing asset managers with objective benchmarks to manage sustainability portfolios.

Cinergy is also the only U.S. utility to be named to the FTSE4Good Index Series, an investment tool launched in 2001 for those interested in socially responsible investment.  FTSE Group, jointly owned by the Financial Times and the London Stock Exchange, is an independent company whose sole business is the creation and management of indices and associated data services.

In August, PSI Energy completed the acquisition of the 512-megawatt Wheatland generating facility for approximately $100 million from subsidiaries of Allegheny Energy, Inc.   Located in Knox County, Ind., Wheatland has four natural gas-fired simple cycle combustion turbines and is directly connected to the Cinergy transmission system.  Its output will be used to bolster the reserve margins on the PSI system. The Indiana Utility Regulatory Commission has authorized PSI to defer post-in-service carrying costs and depreciation related to the facility.

Cinergy Corp. has a balanced, integrated portfolio consisting of two core businesses: regulated operations and commercial businesses. Cinergy’s regulated public utilities in Ohio, Indiana, and Kentucky serve 1.5 million electric customers and about 500,000 gas customers. In addition, its Indiana regulated company owns 7,000 megawatts of generation. Cinergy’s competitive commercial businesses have 6,300 megawatts of generating capacity with a profitable balance of stable existing customer portfolios, new customer origination, marketing and trading, and industrial-site cogeneration.  Cinergy’s integrated businesses make it a Midwest leader in providing both low-cost generation and reliable electric and gas service.

Forward-Looking Statements
This document includes statements that do not directly or exclusively relate to historical facts. Such statements are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements include statements regarding benefits of the proposed mergers and restructuring transactions, integration plans

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and expected synergies, anticipated future financial operating performance and results, including estimates of growth. These statements are based on the current expectations of management of Duke Energy and Cinergy. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements included in this document. For example, (1) the companies may be unable to obtain shareholder approvals required for the transaction; (2) the companies may be unable to obtain regulatory approvals required for the transaction, or required regulatory approvals may delay the transaction or result in the imposition of conditions that could have a material adverse effect on the combined company or cause the companies to abandon the transaction; (3) conditions to the closing of the transaction may not be satisfied; (4) problems may arise in successfully integrating the businesses of the companies, which may result in the combined company not operating as effectively and efficiently as expected; (5) the combined company may be unable to achieve cost-cutting synergies or it may take longer than expected to achieve those synergies; (6) the transaction may involve unexpected costs or unexpected liabilities, or the effects of purchase accounting may be different from the companies’ expectations; (7) the credit ratings of the combined company or its subsidiaries may be different from what the companies expect; (8) the businesses of the companies may suffer as a result of uncertainty surrounding the transaction; (9) the industry may be subject to future regulatory or legislative actions that could adversely affect the companies; and (10) the companies may be adversely affected by other economic, business and/or competitive factors. Additional factors that may affect the future results of Duke Energy and Cinergy are set forth in their respective filings with the Securities and Exchange Commission (“SEC”), which are available at  www.duke-energy.com/investors and www.cinergy.com/investors, respectively. Duke Energy and Cinergy undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Additional Information and Where to Find It

In connection with the proposed transaction, a registration statement of Duke Energy Holding Corp. (Registration No. 333-126318), which includes a preliminary prospectus and a preliminary joint proxy statement of Duke Energy and Cinergy, and other materials have been filed with the SEC and are publicly available. WE URGE INVESTORS TO READ THE DEFINITIVE JOINT PROXY STATEMENT-PROSPECTUS WHEN IT BECOMES AVAILABLE AND THESE OTHER MATERIALS CAREFULLY BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT DUKE ENERGY, CINERGY, DUKE ENERGY HOLDING CORP. AND THE PROPOSED TRANSACTION. Investors will be able to obtain free copies of the joint proxy statement-prospectus as well as other filed documents containing information about Duke Energy and Cinergy at http://www.sec.gov, the SEC’s Web site. Free copies of Duke Energy’s SEC filings are also available on Duke Energy’s Web site at  http://www.duke-energy.com/investors/, and free copies of Cinergy’s SEC filings are also available on Cinergy’s Web site at http://www.cinergy.com.

Participants in the Solicitation

Duke Energy, Cinergy and their respective executive officers and directors may be deemed, under SEC rules, to be participants in the solicitation of proxies from Duke Energy’s or Cinergy’s stockholders with respect to the proposed transaction. Information regarding the officers and directors of Duke Energy is included in its definitive proxy statement for its 2005 annual meeting filed with the SEC on March 31, 2005. Information regarding the officers and directors of Cinergy is included in its definitive proxy statement for its 2005 annual meeting filed with the SEC on March 28, 2005. More detailed information regarding the identity of potential participants, and their direct or indirect interests, by securities, holdings or otherwise, will be set forth in the registration statement and proxy statement and other materials to be filed with the SEC in connection with the proposed transaction.

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EX-99.2

CINERGY CORP. CONSOLIDATED STATEMENTS OF INCOME For the Periods Ended September 30, 2005 and 2004 (unaudited) (dollars in thousands, except per share amounts)								Schedule 1
	Quarter Ended							Year To Date
	2005			2004				2005			2004
Operating Revenues
Electric	$	1,134,494		$	952,406			$	2,975,129		$	2,681,078
Gas	84,073			65,298				476,767			524,226
Other	146,712			110,879				371,895			265,674
Total Operating Revenues	1,365,279			1,128,583				3,823,791			3,470,978
Operating Expenses
Fuel, emission allowances and purchased power	459,964			341,218				1,077,641			933,864
Gas purchased	30,446			19,792				295,135			290,728
Costs of fuel resold	118,619			86,917				297,469			203,441
Operation and maintenance	342,221			325,787				1,025,131			968,981
Depreciation	129,597			114,668				386,537			333,856
Taxes other than income taxes	65,101			57,001				209,115			204,320
Total Operating Expenses	1,145,948			945,383				3,291,028			2,935,190
Operating Income	219,331			183,200				532,763			535,788
Equity in Earnings of Unconsolidated Subsidiaries	6,795			8,016				25,206			18,095
Miscellaneous Income (Expense) - Net	17,012			(944			)	33,886			(11,419		)
Interest Expense	76,932			71,775				209,644			209,446
Preferred Dividend Requirements of Subsidiaries	603			858				2,319			2,574
Income Before Taxes	165,603			117,639				379,892			330,444
Income Taxes	33,666			24,716				79,891			76,002
Net Income	$		131,937	$		92,923		$		300,001	$	254,442
Average Common Shares Outstanding - Basic	199,069			180,881				197,741			180,129
Earnings Per Common Share - Basic	$		0.67	$		0.51		$		1.52	$	1.41
Average Common Shares Outstanding - Diluted	200,167			183,478				198,777			182,564
Earnings Per Common Share - Diluted	$		0.66	$		0.50		$		1.51	$	1.39
Cash Dividends Declared Per Common Share	$		0.96	$		0.47		$		1.92	$	1.41

Note: Prior year data has been reclassified to conform with current year presentation.

EX-99.3

CINERGY CORP. CONSOLIDATED BALANCE SHEETS (unaudited) (in thousands)	Schedule 2
	September 30			December 31
	2005			2004
ASSETS
Current Assets
Cash and cash equivalents	$	165,831		$	164,541
Notes receivable, current	81,622			214,513
Accounts receivable less accumulated provision for doubtful accounts of $4,489 at September 30, 2005, and $5,514 at December 31, 2004	1,482,068			1,061,140
Fuel, emission allowances, and supplies	607,925			444,750
Prepayments and other	567,113			174,624
Energy risk management current assets	1,260,255			381,146
Total current assets	4,164,814			2,440,714
Property, Plant, and Equipment - at Cost
Utility plant in service	10,642,931			10,076,468
Construction work in progress	398,130			333,687
Total utility plant	11,041,061			10,410,155
Non-regulated property, plant, and equipment	4,853,947			4,700,009
Accumulated depreciation	5,447,931			5,180,699
Net property, plant, and equipment	10,447,077			9,929,465
Other Assets
Regulatory assets	1,021,277			1,030,333
Investments in unconsolidated subsidiaries	486,795			513,675
Energy risk management non-current assets	397,471			138,787
Notes receivable, non-current	177,127			193,857
Other investments	128,581			125,367
Goodwill and intangible assets	152,342			132,752
Restricted funds held in trust	277,400			358,006
Other	213,323			119,361
Total other assets	2,854,316			2,612,138
Total Assets	$	17,466,207		$	14,982,317
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Liabilities
Accounts payable	$	2,142,077		$	1,348,576
Accrued taxes	266,459			216,804
Accrued interest	69,504			54,473
Notes payable and other short-term obligations	1,198,670			958,910
Long-term debt due within one year	349,012			219,967
Energy risk management current liabilities	1,419,332			310,741
Other	141,448			171,188
Total current liabilities	5,586,502			3,280,659
Non-current Liabilities
Long-term debt	4,022,076			4,227,741
Deferred income taxes	1,445,371			1,597,120
Unamortized investment tax credits	93,070			99,723
Accrued pension and other postretirement benefit costs	652,409			688,277
Regulatory liabilities	578,520			557,419
Energy risk management non-current liabilities	420,326			127,340
Other	195,230			225,298
Total non-current liabilities	7,407,002			7,522,918
Total Liabilities	12,993,504			10,803,577
Cumulative Preferred Stock of Subsidiaries
Not subject to mandatory redemption	31,743			62,818
Common Stock Equity
Common stock - $0.01 par value; authorized shares - 600,000,000; issued shares - 199,280,386 at September 30, 2005 and 187,653,506 at December 31, 2004; outstanding shares - 199,139,968 at September 30, 2005 and 187,524,229 at December 31, 2004	1,993			1,877
Treasury shares at cost - 140,418 at September 30, 2005, and 129,277 shares at December 31, 2004	(4,776		)	(4,336		)
Paid-in capital	2,969,103			2,559,715
Retained earnings	1,534,752			1,613,340
Accumulated other comprehensive income (loss)	(60,112		)	(54,674		)
Total common stock equity	4,440,960			4,115,922
Total Liabilities and Equity	$	17,466,207		$	14,982,317

Note: Prior year data has been reclassified to conform with current year presentation.

EX-99.4

Schedule 3

CINERGY CORP.
RECONCILIATION OF GAAP EPS TO ADJUSTED EPS - 2005
(unaudited)
	Q1			Q2			Q3		Total
Regulated Businesses
EPS As Reported	$	0.39		$	0.24		$	0.46	$		1.09
Special Items:
Merger and Severance Costs	—			0.03			0.02		0.05
EPS Adjusted	$	0.39		$	0.27		$	0.48	$		1.14
Commercial Businesses
EPS As Reported	$	0.23		$	0.02		$	0.20	$		0.45
Special Items:
Merger and Severance Costs	—			0.03			0.02		0.05
Mark-to-Market Effect on Asset Hedges*	0.12			0.04			0.27		0.43
EPS Adjusted	$	0.35		$	0.09		$	0.49	$		0.93
Power Technology & Infrastructure Services
EPS As Reported	$	(0.02	)	$	(0.01	)	$	—	$	(0.03		)
Special Items:
Merger and Severance Costs	$	—		0.01			$	—	$	0.01
EPS Adjusted	$	(0.02	)	$	—		$	—	$	(0.02		)
Cinergy Corp.
EPS As Reported	$	0.60		$	0.25		$	0.66	$	1.51
Special Items	0.12			0.11			0.31		$	0.54
EPS Adjusted	$	0.72		$	0.36		$	0.97	$	2.05

* Represents the mark-to-market impact of contracts used in Cinergy’s economic hedging of its excess unregulated generation portfolio and its natural gas storage portfolio. The economic value of these portfolios is subject to market fluctuations and, as such, the hedging process involves both purchases and sales. Because these generation assets and gas storage contracts are accounted for under the accrual method of accounting, the Company believes that excluding the impact of mark-to-market changes from reported earnings better matches the contract with the settlement period of the position it is hedging. These amounts will be recognized through adjusted earnings when the contracts ultimately settle.

The increase in the third quarter of 2005 is primarily due to significant increases in the market price of power. Approximately 30% of the mark-to-market value of these contracts is expected to settle in the fourth quarter of 2005 and an additional 60% is expected to settle in the first quarter of 2006.

EX-99.5

Schedule 4

CINERGY CORP.
RECONCILIATION OF GAAP EPS TO ADJUSTED EPS - 2004
(unaudited)
	Q1			Q2			Q3				Total
Regulated Businesses
EPS As Reported	$	0.44		$	0.19		$		0.32		$	0.95
Special Items:
CIN-10 Implementation Costs	—			0.03			—				$	0.03
EPS Adjusted	$	0.44		$	0.22		$		0.32		$	0.98
Commercial Businesses
EPS As Reported	$	0.25		$	0.17		$		0.24		$	0.66
Special Items:
CIN-10 Implementation Costs
and Other Charges	—			0.04			0.03				0.07
Mark-to-Market Effect on Asset Hedges*	(0.05		)	0.02			0.07				0.04
EPS Adjusted	$	0.20		$	0.23		$		0.34		$	0.77
Power Technology & Infrastructure Services
EPS As Reported	$	(0.12	)	$	(0.04	)	$		(0.06	)	$	(0.22	)
Special Items:
Impairment Writedowns and
Other Charges	0.11			0.02			0.05				0.18
EPS Adjusted	$	(0.01	)	$	(0.02	)	$		(0.01	)	$	(0.04	)
Cinergy Corp.
EPS As Reported	$	0.57		$	0.32		$	0.50			$	1.39
Special Items	0.06			0.11			0.15				0.32
EPS Adjusted	$	0.63		$	0.43		$	0.65			$	1.71

For 2004, the Regulated and Commercial segments have each been restated from prior presentations to reflect the reclassification of PSI’s off-system sales from the Commercial Businesses to the Regulated Businesses.

* Represents the mark-to-market impact of contracts used in Cinergy’s economic hedging of its excess unregulated generation portfolio and its natural gas storage portfolio. The economic value of these portfolios is subject to market fluctuations and, as such, the hedging process involves both purchases and sales. Because these generation assets and gas storage contracts are accounted for under the accrual method of accounting, the Company believes that excluding the impact of mark-to-market changes from reported earnings better matches the contract with the settlement period of the position it is hedging. These amounts will be recognized through adjusted earnings when the contracts ultimately settle.

EX-99.6

Schedule 5

CINERGY CORP.
BUSINESS SEGMENT SUMMARY INFORMATION
For the Quarter Ended September 30
(unaudited)
(dollars in thousands, except per share amounts)
	2005			2004
Regulated Businesses
Net Income	$	90,834		$	58,098
Earnings Per Share - diluted	$	0.46		$	0.32
Operational Statistics:
Electric Retail MWh Sales and Transportation	15,245,699			13,906,075
Gas Retail Mcf Sales and Transportation	9,165,119			9,673,313
Electric Customers (End of Period)	1,565,743			1,547,420
Gas Customers (End of Period)	507,069			501,361
Commercial Businesses
Net Income.	$	41,567		$	45,387
Earnings Per Share - diluted	$	0.20		$	0.24
Operational Statistics:
Electricity Trading Volumes (MWhs)	57,700,920			52,849,171
Physical and Financial Gas Trading (Bcf/d)	33.5			58.1
Power Technology & Infrastructure Services
Net Income	$	(464	)	$	(10,562	)
Earnings Per Share - diluted	$	—		$	(0.06	)

For 2004, the Regulated and Commercial segments have each been restated from prior presentations to reflect the reclassification of PSI's off-system sales from the Commercial Businesses to the Regulated Businesses.

EX-99.7

Schedule 6

CINERGY CORP.
BUSINESS SEGMENT EARNINGS DRIVER ANALYSIS
For the Quarter Ended September 30, 2005
(unaudited)
Regulated Businesses
Earnings Per Share - diluted - 2004 (Adjusted*)			$	0.32
Weather	0.15
Electric and gas sales volumes	0.02
Other margins	0.02
Regulatory deferrals	0.02
Regulatory transition charge amortization	(0.05	)
Operation and maintenance	0.02
Depreciation	(0.02	)
Financing and dilution	(0.05	)
Other - net	0.05
Earnings Per Share - diluted - 2005 (Adjusted*)			$	0.48
Commercial Businesses
Earnings Per Share - diluted - 2004 (Adjusted*)			$	0.34
Weather	0.04
Electric sales volumes	0.01
Price increases	0.03
Fuel costs	(0.03	)
Optimization activities	0.13
Gas marketing, trading and origination	0.03
Financing and dilution	(0.03	)
Other - net	(0.03	)
Earnings Per Share - diluted - 2005 (Adjusted*)			$	0.49
Power Technology & Infrastructure Services
Earnings Per Share - diluted - 2004 (Adjusted*)			($0.01		)
Results of investments	0.01
Earnings Per Share - diluted - 2005 (Adjusted*)			$	0.00

For 2004, the Regulated and Commercial segments have each been restated from prior presentations to reflect the reclassification of PSI’s off-system sales from the Commercial Businesses to the Regulated Businesses.

* See Schedules 3 and 4 for a reconciliation to the most comparable GAAP measure.

EX-99.8

Schedule 7

CINERGY CORP.
BUSINESS SEGMENT SUMMARY INFORMATION
For the Year to Date September 30
(unaudited)
(dollars in thousands, except per share amounts)
	2005				2004
Regulated Businesses
Net Income	$	216,389			$		173,219
Earnings Per Share - diluted	$		1.09		$		0.95
Operational Statistics:
Electric Retail MWh Sales and Transportation	41,358,027				40,109,527
Gas Retail Mcf Sales and Transportation	61,045,885				64,817,735
Electric Customers (End of Period)	1,565,743				1,547,420
Gas Customers (End of Period)	507,069				501,361
Commercial Businesses
Net Income	$		90,277		$	121,378
Earnings Per Share - diluted	$		0.45		$	0.66
Operational Statistics:
Electricity Trading Volumes (MWhs)	151,022,248				136,367,693
Physical and Financial Gas Trading (Bcf/d)	53.6				50.8
Power Technology & Infrastructure Services
Net Income	$		(6,665	)	$	(40,155)
Earnings Per Share - diluted	$		(0.03	)	$	(0.22)

For 2004, the Regulated and Commercial segments have each been restated from prior presentations to reflect the reclassification of PSI’s off-system sales from the Commercial Businesses to the Regulated Businesses.

EX-99.9

Schedule 8

CINERGY CORP.
BUSINESS SEGMENT EARNINGS DRIVER ANALYSIS
For the Year to Date September 30, 2005
(unaudited)
Regulated Businesses
Earnings Per Share - diluted - 2004 (Adjusted*)			$			0.98
Weather	0.14
Electric and gas sales volumes	0.03
Price increases	0.23
Other margins	0.02
Regulatory deferrals	0.06
Regulatory transition charge amortization	(0.09	)
Operation and maintenance	(0.05	)
Depreciation	(0.10	)
Financing and dilution	(0.13	)
Other - net	0.05
Earnings Per Share - diluted - 2005 (Adjusted*)			$		1.14
Commercial Businesses
Earnings Per Share - diluted - 2004 (Adjusted*)			$	0.77
Weather	0.03
Electric sales volumes	0.02
Price increases	0.10
Fuel costs	(0.09	)
Optimization activities	0.28
Operation and maintenance	(0.03	)
Power marketing, trading and origination	0.02
Gas marketing, trading and origination	(0.10	)
Financing and dilution	(0.02	)
Other - net	(0.05	)
Earnings Per Share - diluted - 2005 (Adjusted*)			$	0.93
Power Technology & Infrastructure Services
Earnings Per Share - diluted - 2004 (Adjusted*)			($0.04				)
Results of investments	0.02
Earnings Per Share - diluted - 2005 (Adjusted*)			($0.02				)

For 2004, the Regulated and Commercial segments have each been restated from prior presentations to reflect the reclassification of PSI’s off-system sales from the Commercial Businesses to the Regulated Businesses.

* See Schedules 3 and 4 for a reconciliation to the most comparable GAAP measure.