Star Watch Investigation: Vectren’s costly coal deal is a profit for company, pain for ratepayers

“At a time when coal prices were at record highs, Vectren locked into expensive, multiyear agreements to buy almost all of its coal supply from its own wholly-owned mining subsidiary, Vectren Fuels. And ratepayers paid the price. Experts say Vectren disregarded the common industry practice of staggering its coal purchases through shorter-term contracts to hedge against unusually high prices.”