Consent of Independent Public Accountants

As independent  public  accountants,  we hereby consent to the  incorporation by
reference of our report,  dated January 28, 1999, included in this Annual Report
on Form 10-K for the year ended  December  31,  1998,  into (i) Cinergy  Corp.'s
previously filed Registration Statement Nos. 33-55267,  33-55291,  33-55293, 33-
55713, 33-56067, 33-56089, 33-56091, 33-56093, 33-56095 and 333- 17531; (ii) PSI
Energy,  Inc.'s  previously  filed  Registration  Statement  Nos.  33-48612  and
33-57064;  (iii)  The  Cincinnati  Gas &  Electric  Company's  previously  filed
Registration Statement Nos. 33-45116,  33-52335 and 33-58967; and (iv) The Union
Light,  Heat and Power Company's  previously  filed  Registration  Statement No.
33-40245.



Arthur Andersen LLP
Cincinnati, Ohio,
March 5, 1999