EXHIBIT 23




                         CONSENT OF ARTHUR ANDERSEN LLP

CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS

     As independent public  accountants,  we hereby consent to the incorporation
of our reports dual-dated January 29, 1999 and November 1, 1999,  included in te
combined  annual  report on Form 10-K as amended for SIGCORP,  Inc. and Southern
Indiana Gas and Electric  Company for the  year-ended  December 31, 1998,  which
were  incorporated  by reference  into the Joint Proxy  Statement/Prospectus  of
Indiana  Energy,  Inc. and SIGCORP,  Inc.  dated  November 12, 1999 into Indiana
Energy,  Inc.  previously  filed  Registration  Statements  File Nos.  33-45046,
33-56522, 33-57148, 33-55983, 33-62439, 333-72399 and 333-89221.

Arthur Andersen LLP

Chicago, Illinois
January 27, 1999