INDIANA ENERGY INC
8-K, 1997-08-11
NATURAL GAS DISTRIBUTION
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August 11, 1997



Securities and Exchange Commission
Operations Center
6432 General Green Way
Alexandria, VA  22312-2413

Gentlemen:

We are transmitting herewith Indiana Energy, Inc.'s
Current Report on Form 8-K.

Very truly yours,



/s/ Douglas S. Schmidt
Douglas S. Schmidt

                         
                           
          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): August 11, 1997


                 INDIANA ENERGY, INC.
(Exact name of registrant as specified in its charter)


       INDIANA                         1-9091           35-1654378
(State or other jurisdiction    (Commission File No.)  (IRS Employer
 of incorporation)                                      Identification
                                                        Number)



    1630 North Meridian Street, Indianapolis, Indiana  46202
      (Address of principal executive offices)   (Zip Code)

Registrant's telephone number, including area code:   (317) 926-3351

Item 5.    Other Events

       In connection with the "safe harbor" provisions
       of the Private Securities Litigation Reform Act
       of 1995, Indiana Energy, Inc. ("Indiana Energy")
       is hereby filing cautionary statements
       identifying important factors that could cause
       actual results of Indiana Energy and its
       subsidiaries, including Indiana Gas Company,
       Inc., to differ materially from those projected
       in forward-looking statements of Indiana Energy
       and its subsidiaries made by, or on behalf of,
       Indiana Energy and its subsidiaries.
       
Item 7.   Financial Statements and Exhibits
       
       (c)  The following exhibit is filed herewith:
       
            Exhibit Designation           Nature of Exhibit
       
                    99                    Cautionary Statement for
                                          Purpose of "Safe Harbor"
                                          Provisions of the
                                          Private Securities
                                          Litigation
                                          Reform Act of 1995.
                           
       

                      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
thereunto duly authorized.


                                 INDIANA ENERGY, INC.
                                    Registrant


Dated August 11, 1997    /s/Niel C. Ellerbrook
                         Niel C. Ellerbrook
                         Executive Vice President, Treasurer
                         and Chief Financial Officer



Dated August 11, 1997    /s/Jerome A. Benkert
                         Jerome A. Benkert
                         Controller



Exhibit 99

Cautionary Statement for Purposes of the "Safe Harbor"
Provisions of the Private Securities Litigation Reform
Act of 1995.

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.  Forward-looking statements
have been and will be made in written documents and
oral presentations of Indiana Energy and its
subsidiaries.  Such statements are based on
management's beliefs, as well as assumptions made by
and information currently available to management.
When used in Indiana Energy and its subsidiaries'
documents or oral presentations, the words "believe,"
"anticipate," "endeavor," "estimate," "expect,"
"objective," "projection," "forecast," "goal," 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 Indiana Energy and its subsidiaries' 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 gas supply costs, or availability due to
higher demand, shortages, transportation problems or
other developments; environmental or pipeline
incidents; or gas pipeline system constraints.

Increased competition in the energy environment
including effects of:  industry restructuring and
unbundling.

Regulatory factors such as unanticipated changes in
rate-setting policies or procedures; recovery of
investments made under traditional regulation, and the
frequency and timing of rate increases.

Financial or regulatory accounting principles or
policies imposed by the Financial Accounting Standards
Board, the Securities and Exchange Commission
(Commission), the Federal Energy Regulatory Commission,
state public utility commissions, state entities which
regulate natural gas transmission, gathering and
processing, and similar entities with regulatory
oversight.

Economic conditions including inflation rates and
monetary fluctuations.

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.

Availability or cost of capital, resulting from changes
in:  Indiana Energy and its subsidiaries, interest
rates, and securities ratings or market perceptions of
the utility industry and energy-related industries.

Employee workforce factors including changes in key
executives, collective bargaining agreements with union
employees, or work stoppages.

Legal and regulatory delays and other obstacles
associated with mergers, acquisitions, and investments
in joint ventures.

Costs and other effects of legal and administrative
proceedings, settlements, investigations, claims, and
other matters, including, but not limited to, those
described in periodic filings made with the Commission
by Indiana Energy and its subsidiary, Indiana Gas
Company, Inc.

Changes in Federal, state or local legislature
requirements, such as changes in tax laws or rates;
environmental laws and regulations.

Indiana Energy and its subsidiaries undertake 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.




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