Exhibit 23.2




                    CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS


As independent  public  accountants,  we hereby consent to the  incorporation by
reference  in this  Registration  Statement  of our report  dated April 19, 2001
included in Amendment No. 3 of Vectren Utility Holdings,  Inc.'s Form 10 for the
year ended  December 31, 2000 and to all references to our Firm included in this
Registration Statement.


                                                        /s/ ARTHUR ANDERSEN LLP

                                                        ARTHUR ANDERSEN LLP


Indianapolis, Indiana,
September 18, 2001.