Vectren Corp. Q1 2008 Earnings Call Transcript

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2008-05-01 14:53:06.0

Tags: Vectren Corp.

Question-and-Answer Session

[Operator Instructions]. Your first question comes from the line of Paul Patterson of Glenrock Associates.

Paul Patterson - Glenrock Associates

Good afternoon.

Niel C. Ellerbrook - Chairman and Chief Executive Officer

Good afternoon, Paul.

Paul Patterson - Glenrock Associates

A couple of things. With respect to the Energy Marketing and Services, the market conditions that you're talking about, when do you expect them to change? I mean I see difference in the quarter, but it looks like? I guess that you guys are expecting still some of the... these market conditions to continue into the second quarter, is that right?

Niel C. Ellerbrook - Chairman and Chief Executive Officer

Yes, Carl, why don't you pick on it.

Carl L. Chapman - President and Chief Operating Officer

Yes. Paul, Of course, for all practical purposes other than some June? April and May, of course April is done but May was set up some time ago and so we did see these conditions continue in April and then for May and June as well. Having said that, there still may well be cash to NYMEX opportunities open up. We have not counted on very much, but there isn't any reason why that could not occur. So we anticipate this point that it stays where it is and we will just see how that unfolds.

Paul Patterson - Glenrock Associates

Okay. You say LNG summer deliveries are expected to grow to meet rising gas demand and creating storage opportunities. What kind of expectation do you have in terms of what LNG is going to do during the summer?

Carl L. Chapman - President and Chief Operating Officer

Well, for this summer again, we have not contemplated very much. Again we think LNG, the way we see it’s still likely to be lower, but longer-term we still believe LNG is part of the solution to gas supply for the U.S. and I think that in the summer we're still likely to be a place that gas has dropped off with more storage opportunities in the U.S. than in Europe or Asia. So, we continue to think longer-term that's the way that will work. We have not counted on very much LNG at all for 2008.

Paul Patterson - Glenrock Associates

Okay, got you. Then the MSHA, the guidelines of the Coal Mining business, when was the notification in terms of these guidelines, when did that first come out?

 

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