In turn, the company officially withdrew its request from the Indiana Utility Regulatory Commission (IURC) to build a 100MW gas-fired peaking unit in Gibson County, Indiana.
The company is also pursuing the development of electric demand side management programs, which will be filed with the IURC later in 2008. If approved, Vectren will provide proven conservation and energy efficiency programs to residential and commercial electric customers in southwestern Indiana.
Program components may include additional incentives for Vectren’s Summer Cycler program, rebates on compact fluorescent lamp light bulbs and on-site audits and assistance programs for qualifying customers.
Ron Jochum, Vectren’s vice president of power supply, said: Our electric service area continues to experience moderate growth, and the need for additional power was coming quickly given an existing 100MW power purchase agreement was set to expire in 2009. This contract allows us to delay the need to build new generation while meeting the peak needs of our southwestern Indiana customers.
