Attached files
file | filename |
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EX-99.2 - EXHIBIT 99.2 - VECTREN CORP | ex99_2.htm |
EX-99.1 - EXHIBIT 99.1 - VECTREN CORP | ex99_1.htm |
8-K - 2009 QFR - VECTREN CORP | vvc_8k.htm |
Exhibit
99.3
Forward-Looking
Information
A
“safe harbor” for forward-looking statements is provided by the Private
Securities Litigation Reform Act of 1995 (Reform Act of 1995). The
Reform Act of 1995 was adopted to encourage such forward-looking statements
without the threat of litigation, provided those statements are identified as
forward-looking and are accompanied by meaningful cautionary statements
identifying important factors that could cause the actual results to differ
materially from those projected in the statement. Certain matters
described in Management’s Discussion and Analysis of Results of Operations and
Financial Condition are forward-looking statements. Such statements
are based on management’s beliefs, as well as assumptions made by and
information currently available to management. When used in this
filing, the words “believe”, “anticipate”, “endeavor”, “estimate”, “expect”,
“objective”, “projection”, “forecast”, “goal”, “likely”, and similar expressions
are intended to identify forward-looking statements. In addition to
any assumptions and other factors referred to specifically in connection with
such forward-looking statements, factors that could cause the Company’s actual
results to differ materially from those contemplated in any forward-looking
statements include, among others, the following:
·
|
Factors
affecting utility operations such as unusual weather conditions;
catastrophic weather-related damage; unusual maintenance or repairs;
unanticipated changes to fossil fuel costs; unanticipated changes to gas
transportation and storage costs, or availability due to higher demand,
shortages, transportation problems or other developments; environmental or
pipeline incidents; transmission or distribution incidents; unanticipated
changes to electric energy supply costs, or availability due to demand,
shortages, transmission problems or other developments; or electric
transmission or gas pipeline system
constraints.
|
·
|
Catastrophic
events such as fires, earthquakes, explosions, floods, ice storms,
tornados, terrorist acts or other similar occurrences could adversely
affect Vectren’s facilities, operations, financial condition and results
of operations.
|
·
|
Increased
competition in the energy industry, including the effects of industry
restructuring and unbundling.
|
·
|
Regulatory
factors such as unanticipated changes in rate-setting policies or
procedures, recovery of investments and costs made under traditional
regulation, and the frequency and timing of rate
increases.
|
·
|
Financial,
regulatory or accounting principles or policies imposed by the Financial
Accounting Standards Board; the Securities and Exchange Commission; the
Federal Energy Regulatory Commission; state public utility commissions;
state entities which regulate electric and natural gas transmission and
distribution, natural gas gathering and processing, electric power supply;
and similar entities with regulatory
oversight.
|
·
|
Economic
conditions including the effects of an economic downturn, inflation rates,
commodity prices, and monetary
fluctuations.
|
·
|
Economic
conditions surrounding the recent recession, which may be more
prolonged and more severe than cyclical downturns, including significantly
lower levels of economic activity; uncertainty regarding energy prices and
the capital and commodity markets; decreases in demand for natural gas,
electricity, coal, and other nonutility products and services; impacts on
both gas and electric large customers; lower residential and commercial
customer counts; higher operating expenses; and further reductions in the
value of certain nonutility real estate and other legacy
investments.
|
·
|
Increased
natural gas and coal commodity prices and the potential impact on customer
consumption, uncollectible accounts expense, unaccounted for gas and
interest expense.
|
·
|
Changing
market conditions and a variety of other factors associated with physical
energy and financial trading activities including, but not limited to,
price, basis, credit, liquidity, volatility, capacity, interest rate, and
warranty risks.
|
·
|
Direct
or indirect effects on the Company’s business, financial condition,
liquidity and results of operations resulting from changes in credit
ratings, changes in interest rates, and/or changes in market perceptions
of the utility industry and other energy-related
industries.
|
·
|
The
performance of projects undertaken by the Company’s nonutility businesses
and the success of efforts to invest in and develop new opportunities,
including but not limited to, the Company’s coal mining, gas marketing,
and energy infrastructure
strategies.
|
·
|
Factors
affecting coal mining operations including MSHA guidelines and
interpretations of those guidelines; geologic, equipment, and operational
risks; the ability to execute and negotiate new sales contracts and
resolve contract interpretations; volatile coal market prices and
demand; supplier and contract miner performance; the
availability of key equipment, contract miners and commodities;
availability of transportation; and the ability to access/replace coal
reserves .
|
·
|
Employee
or contractor workforce factors including changes in key executives,
collective bargaining agreements with union employees, aging workforce
issues, work stoppages, or pandemic
illness.
|
·
|
Legal
and regulatory delays and other obstacles associated with mergers,
acquisitions and investments in joint
ventures.
|
·
|
Costs,
fines, penalties and other effects of legal and administrative
proceedings, settlements, investigations, claims, including, but not
limited to, such matters involving compliance with state and federal laws
and interpretations of these laws.
|
·
|
Changes
in or additions to federal, state or local legislative
requirements, such as changes in or additions to tax laws or rates,
environmental laws, including laws governing greenhouse gases, mandates of
sources of renewable energy, and other
regulations.
|
The
Company undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of changes in actual results,
changes in assumptions, or other factors affecting such
statements.