SECURITIES AND EXCHANGE COMMISSION
                             Washington, D. C. 20549





                                    FORM 11-K

                                  ANNUAL REPORT





                        Pursuant to Section 15(d) of the
                         Securities Exchange Act of 1934




                   For the fiscal year ended December 31, 1997
                         Commission File Number 1-11377



         A.  Full title of the Plan:

                      THE CINCINNATI GAS & ELECTRIC COMPANY
                             SAVINGS INCENTIVE PLAN

         B.  Name of issuer of the securities held pursuant to the Plan and the
             address of its principal executive office:


                                  Cinergy Corp.

                             139 East Fourth Street

                          Cincinnati, Ohio 45202 - 4003









<PAGE>



                                                    


                     THE CG&E COMPANY SAVINGS INCENTIVE PLAN

                        FINANCIAL STATEMENTS AND EXHIBITS




                                                                     Page No.
(a)    Financial Statements

       Report of Independent Public Accountants                         3
       Statement of Net Assets Available for Benefits, with
         Fund Information, as of December 31, 1997                      4
       Statement of Net Assets Available for Benefits, with
         Fund Information, as of December 31, 1996                      5
       Statement of Changes in Net Assets Available for Benefits,
         with Fund Information, for the Year Ended December 31, 1997    6
       Notes to Financial Statements                                  7-10
       Financial Statement Schedules (As Required By The Employee
         Retirement Income Security Act)
           Schedule I - Schedule of Assets Held for Investment 
             Purposes-December 31, 1997                                11
           Schedule II - Schedule of Reportable Transactions for 
             the year ended December 31, 1997                          12


(b)    Exhibit

         23)  Consent of Independent Public Accountants





<PAGE>


                    Report of Independent Public Accountants

To the Plan  Administrator  of The  Cincinnati  Gas & Electric  Company  Savings
Incentive Plan:

We  have  audited  the  accompanying  statements  of net  assets  available  for
benefits,  with fund  information,  of THE  CINCINNATI  GAS &  ELECTRIC  COMPANY
SAVINGS  INCENTIVE  PLAN as of  December  31,  1997 and  1996,  and the  related
statement  of  changes  in  net  assets   available  for  benefits,   with  fund
information,  for the year ended December 31, 1997.  These financial  statements
and the  schedules  referred  to  below  are the  responsibility  of the  Plan's
management.  Our  responsibility  is to express  an  opinion on these  financial
statements and schedules based on our audits.

We  conducted  our  audits  in  accordance  with  generally   accepted  auditing
standards.  Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of material
misstatement.  An audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements.  An audit also includes
assessing the  accounting  principles  used and  significant  estimates  made by
management,  as well as evaluating the overall financial statement presentation.
We believe that our audits provide a reasonable basis for our opinion.

In our opinion,  the financial  statements  referred to above present fairly, in
all  material  respects,  the net  assets  available  for  benefits,  with  fund
information,  of the Plan as of December  31, 1997 and 1996,  and the changes in
net assets  available for benefits,  with fund  information,  for the year ended
December 31, 1997 in conformity with generally accepted accounting principles.

Our audits  were  performed  for the  purpose of forming an opinion on the basic
financial  statements taken as a whole. The supplemental  schedules (Schedules I
and II) are  presented  for the  purpose of  additional  analysis  and are not a
required  part  of  the  basic  financial   statements  but  are   supplementary
information  required by the  Department  of Labor's Rules and  Regulations  for
Reporting and Disclosure  under the Employee  Retirement  Income Security Act of
1974.  The fund  information  in the  statements  of net  assets  available  for
benefits and the  statement of changes in net assets  available  for benefits is
presented  for purposes of  additional  analysis  rather than to present the net
assets  available for benefits and changes in net assets  available for benefits
of each  fund.  The  supplemental  schedules  and  fund  information  have  been
subjected  to the  auditing  procedures  applied  in  the  audits  of the  basic
financial  statements  and, in our  opinion,  are fairly  stated in all material
respects in relation to the basic financial statements taken as a whole.




                                                             ARTHUR ANDERSEN LLP



Cincinnati, Ohio,
June 22, 1998



<PAGE>

<TABLE>
<CAPTION>
                                                    
          THE CINCINNATI GAS & ELECTRIC COMPANY SAVINGS INCENTIVE PLAN
      Statement of Net Assets Available for Benefits, with Fund Information
                             As of December 31, 1997
                                                                                                                                    
                                                                         Participant Directed                                    

<S>                               <C>           <C>          <C>          <C>        <C>            <C>          <C>
                                                                          Fidelity                   Fidelity
                                                 Fidelity                   Low-       Fidelity     Retirement
                                  Fidelity       Equity-      Fidelity     Priced     Diversified     Money        Cinergy       
                                  Magellan        Income     Intermediate  Stock     International    Market        Common      
                                    Fund           Fund       Bond Fund     Fund         Fund          Fund       Stock Fund   
ASSETS
Investments, at fair value:
  Shares of registered investment
    companies                     $ 8,344,841   $16,571,031  $1,643,579   $1,384,880    $ 405,471   $3,080,090            $ -    
  Common Stock                              -             -           -            -            -            -     99,868,069    
  Participant Loans                         -             -           -            -            -            -              -   
    Total Investments               8,344,841    16,571,031   1,643,579    1,384,880      405,471    3,080,090     99,868,069   

Receivables:
  Employer's Contribution                   -             -           -            -            -            -              -     
  Participants' Contribution           34,370        40,040       5,541        6,955        2,338       14,069        431,927     
Total receivables                      34,370        40,040       5,541        6,955        2,338       14,069        431,927   
Net assets available for benefits $ 8,379,211   $16,611,071  $1,649,120   $1,391,835    $ 407,809   $3,094,159   $100,299,996  
</TABLE>
                                                           

<PAGE>

                                                    
<TABLE>
<CAPTION>
          THE CINCINNATI GAS & ELECTRIC COMPANY SAVINGS INCENTIVE PLAN
 Statement of Net Assets Available for Benefits, with Fund Information (Continued)
                             As of December 31, 1997

<S>                                  <C>          <C>          <C>   
                                                     Non-                                                 
                                     Participant  Participant
                                       Directed    Directed
                                 
                                                   Cinergy
                                     Participant    Common
                                     Loan Fund    Stock Fund       Total
ASSETS
  Investments, at fair value:
  Shares of registered investment
    companies                             $ -           $ -   $ 31,429,892
  Common Stock                              -    51,579,542    151,447,611
  Participant Loans                 7,312,212             -      7,312,212
    Total Investments               7,312,212    51,579,542    190,189,715

Receivables:
  Employer's Contribution                 -           96,050         96,050
  Participants' Contribution              -             -           535,240
Total receivables                         -           96,050        631,290
Net assets available for benefits   $7,312,212   $51,675,592   $190,821,005
                                                           

<FN>
The accompanying notes are an integral part of these financial statements.
</FN>
</TABLE>

<PAGE>

<TABLE>
<CAPTION>

          THE CINCINNATI GAS & ELECTRIC COMPANY SAVINGS INCENTIVE PLAN
     Statement of Net Assets Available for Benefits, with Fund Information
                             As of December 31, 1996
                                                                                                                    Non-
                                                                                                                 Participant
                                                                      Participant Directed                         Directed

<S>                               <C>           <C>          <C>         <C>           <C>           <C>          <C>
                                                                          Fidelity
                                                 Fidelity                Retirement
                                  Fidelity       Equity-      Fidelity      Money        Cinergy                    Cinergy
                                  Magellan        Income     Intermediate  Market        Common      Participant    Common
                                    Fund           Fund       Bond Fund     Fund       Stock Fund    Loan Fund    Stock Fund   
ASSETS
  Investments, at fair value:
  Shares of registered investment
   companies                     $ 4,198,665   $11,395,092  $1,428,486   $5,874,739            $ -         $ -            $ - 
  Common Stock                              -             -           -            -    100,039,222           -     45,212,499    
  Participant Loans                         -             -           -            -              -   6,244,939              -  
    Total Investments               4,198,665    11,395,092   1,428,486    5,874,739    100,039,222   6,244,939     45,212,499   


Receivables:
  Employer's Contribution                   -             -           -            -              -           -      1,059,033  
  Participants' Contribution           13,166        16,301       2,848        8,675        108,368           -              -     
    Total receivables                  13,166        16,301       2,848        8,675        108,368           -      1,059,033    
Net assets available for benefits $ 4,211,831   $11,411,393  $1,431,334   $5,883,414   $100,147,590  $6,244,939   $ 46,271,532   
</TABLE>

<PAGE>


<TABLE>
<CAPTION>
          THE CINCINNATI GAS & ELECTRIC COMPANY SAVINGS INCENTIVE PLAN
 Statement of Net Assets Available for Benefits, with Fund Information (Continued)
                             As of December 31, 1996
                                                                         

<S>                                     <C>                   
                                                   
                                      
                                 
                                 
                                             Total
ASSETS
  Investments, at fair value:
  Shares of registered investment
    companies                           $ 22,896,982
  Common Stock                           145,251,721
  Participant Loans                        6,244,939
    Total Investments                    174,393,642


Receivables:
  Employer's Contribution                  1,059,033
  Participants' Contribution                 149,358
    Total receivables                      1,208,391
Net assets available for benefits       $175,602,033

<FN>
The accompanying notes are an integral part of these financial statements.
</FN>

</TABLE>

<PAGE>


<TABLE>
<CAPTION>

          THE CINCINNATI GAS & ELECTRIC COMPANY SAVINGS INCENTIVE PLAN
 Statement of Changes in Net Assets Available for Benefits, with Fund Information
                      For the Year Ended December 31, 1997
<S>                                 <C>         <C>            <C>         <C>          <C>           <C>         <C>
                                                                                                                               
                                                                                                                                
                                                                          Participant Directed                              

                                                                            Fidelity                   Fidelity
                                                   Fidelity                   Low-       Fidelity     Retirement
                                    Fidelity       Equity-      Fidelity     Priced     Diversified     Money         Cinergy
                                    Magellan        Income     Intermediate   Stock     International   Market        Common     
                                      Fund           Fund      Bond Fund      Fund         Fund          Fund       Stock Fund    
Additions to net assets:
Investments income:
  Net appreciation
    (depreceition) in fair
    value of investments            $ 784,511   $ 2,720,315    $ 14,847    $ (25,312)   $ (17,952)          $ -   $ 14,290,256     
  Interest                                  -             -           -            -            -             -              -   
  Dividends                           449,813       846,366      86,292       42,150       12,545       162,698      4,763,214    
                                    1,234,324     3,566,681     101,139       16,838       (5,407)      162,698     19,053,470    

Contributions:
  Participants'                       749,792       952,609     142,235       50,378       20,261       422,114      5,790,234    
  Employer's                                -             -           -            -            -             -              -      
                                      749,792       952,609     142,235       50,378       20,261       422,114      5,790,234     
Total Additions                     1,984,116     4,519,290     243,374       67,216       14,854       584,812     24,843,704    

Deductions from net
  assets:
    Benefits paid to
      participants                    760,186     1,737,446     214,551            -            -     9,012,087     15,047,441   
Total Deductions                      760,186     1,737,446     214,551            -            -     9,012,087     15,047,441    

Net increase/(decrease)
  prior to transfers                1,223,930     2,781,844      28,823       67,216       14,854    (8,427,275)     9,796,263    
Interfund transfers                 2,367,520     1,779,118     151,021    1,277,147      386,025     5,580,862    (10,687,274)   
Interplan transfers                   575,930       638,716      37,942       47,472        6,930        57,158      1,043,417    
Net increase (decrease)             4,167,380     5,199,678     217,786    1,391,835      407,809    (2,789,255)       152,406   
Net assets available for
  benefits:
  Beginning of year                 4,211,831    11,411,393   1,431,334            -            -     5,883,414    100,147,590   
  End of year                     $ 8,379,211   $16,611,071  $1,649,120   $1,391,835    $ 407,809   $ 3,094,159   $100,299,996  
</TABLE>
                                                                           
<PAGE>                                                                         



<TABLE>
<CAPTION>


          THE CINCINNATI GAS & ELECTRIC COMPANY SAVINGS INCENTIVE PLAN
 Statement of Changes in Net Assets Available for Benefits, with Fund Information
                      For the Year Ended December 31, 1997

                                                      Non-
                                                   Participant
                                     Participant    Directed     
     
<S>                                <C>           <C>           <C>  
                                                     Cinergy
                                     Participant     Common
                                      Loan Fund    Stock Fund       Total
Additions to net assets:
Investments income:
  Net appreciation
    (depreceition) in fair
    value of investments                   $ -   $ 7,214,609   $ 24,981,274
  Interest                             514,732             -        514,732
  Dividends                                  -     2,304,790      8,667,868
                                       514,732     9,519,399     34,163,874

Contributions:
  Participants'                              -             -      8,127,623
  Employer's                                 -     2,763,528      2,763,528
                                             -     2,763,528     10,891,151
Total Additions                        514,732    12,282,927     45,055,025

Deductions from net
  assets:
    Benefits paid to
      participants                     415,881     5,724,706     32,912,298
Total Deductions                       415,881     5,724,706     32,912,298

Net increase/(decrease)
  prior to transfers                    98,851     6,558,221     12,142,727
Interfund transfers                    958,149    (1,812,568)             -
Interplan transfers                     10,273       658,407      3,076,245
Net increase (decrease)              1,067,273     5,404,060     15,218,972
Net assets available for
  benefits:
  Beginning of year                  6,244,939    46,271,532    175,602,033
  End of year                      $ 7,312,212   $51,675,592   $190,821,005
  
<FN>
The accompanying notes are an integral part of these financial statements.
</FN>
</TABLE>

<PAGE>

                      THE CINCINNATI GAS & ELECTRIC COMPANY
                             SAVINGS INCENTIVE PLAN

                          NOTES TO FINANCIAL STATEMENTS

(1)  Description of The Cincinnati Gas & Electric Company Savings Incentive Plan
     (SIP or the  Plan) - The  following  is a brief  description  of the  Plan.
     Participants  should  refer  to the Plan  Document  and the  related  Trust
     Agreement,  including the defined terms,  for more complete  information of
     the Plan's provisions. The Plan is a defined contribution plan covering all
     weekly or hourly paid employees of The  Cincinnati  Gas & Electric  Company
     (CG&E), a subsidiary of Cinergy Corp.,  the employees of Union Light,  Heat
     and Power Company,  and Lawrenceburg Gas Company.  The Plan is administered
     by the CG&E Benefits  Committee and trusteed by Fidelity  Management  Trust
     Company. The administrative  expenses are paid by CG&E. The Plan is subject
     to the provisions of the Employee  Retirement  Income  Security Act of 1974
     (ERISA).

     Under the Plan,  participants  may  contribute  up to 15% of annual  pretax
     compensation,  as defined in the Plan. In addition,  a participant may make
     optional  contributions  to the  Plan  which,  when  combined  with  salary
     deferrals,  may not exceed 15% of base pay.  Salary  deferrals and optional
     contributions are subject to certain limitations.  The salary deferrals and
     optional  contributions  are invested by the  trustee,  as directed by each
     participant,  in one or more investment funds, including the Cinergy Common
     Stock Fund.

     The  participant's  employer  contributes  60% of the  first 5% of base pay
     contributed by each participant. An additional incentive match of up to 40%
     of  the  first  5% of  base  pay  that  a  participant  contributes  may be
     contributed  at the discretion of the  employer's  board of directors.  For
     those employees who do not contribute to the Plan, the employers contribute
     an incentive match assuming the participant contributed 1% of base pay. All
     employer  contributions  must be  invested  by the  trustee in the  Cinergy
     Common Stock Fund.  The employer  contributions  must remain in the Cinergy
     Common Stock Fund until the participant reaches age 50 and are shown on the
     statement  of  net  assets  available  for  benefits  as   "Non-Participant
     Directed"  funds until the employee elects to transfer the funds to another
     investment option. Participants are immediately vested in all contributions
     and earnings thereon.

     Participants are generally eligible to receive distributions of assets from
     the Plan upon termination of employment (including  retirement),  death, or
     disability.  Distributions  are paid in a lump sum for vested  benefits  of
     $3,500 or less.  Distributions  are paid in a lump sum or up to ten  annual
     installments  (at the  election  of the  participant)  for vested  benefits
     greater than $3,500.  Active participants are also eligible to apply to the
     Plan  administrator  for "hardship"  withdrawals from their salary deferral
     account in accordance with Plan provisions.

     Subject to certain  limitations,  employees  may apply for loans from their
     salary  deferral  account  balances.   Such  loans  are  reflected  in  the
     Participant Loan Fund in the accompanying financial statements. Interest on
     the loans is set at the prime rate plus 1/2% at the time of  borrowing  and
     are secured by the balance in the participant's  account.  Loans are repaid
     within 54 months through regular payroll deductions.

(2)  Significant  Accounting Policies - The financial statements of the Plan are
     prepared under the accrual method of accounting.  Investments are stated at
     fair value. Shares of registered  investment companies are valued at quoted
     market  prices  which  represent  the net asset value of shares held by the
     Plan at  year-end.  Cinergy  common  stock is valued at its  quoted  market
     price. Participant loans are valued at cost, which approximates market.

     Purchases  and sales of  securities  are  recorded on a  trade-date  basis.
     Interest income is recorded on the accrual basis. Dividends are recorded on
     the ex- dividend date. Benefits are recorded when paid.

     Transfers of assets between the SIP and the CG&E Deferred  Compensation and
     Investment Plan occur as a result of changes in employee status between the
     weekly and  hourly  paid  classification  and the  executive,  supervisory,
     administrative,   and  professional  classification.   Such  transfers  are
     reflected as interplan  transfers in the statement of changes in net assets
     available for benefits.

     The  preparation  of financial  statements  in  conformity  with  generally
     accepted  accounting   principles  requires  the  Plan  Committee  to  make
     estimates and  assumptions  that affect the reported  amounts of assets and
     liabilities and disclosure of contingent assets and liabilities at the date
     of the  financial  statements,  and the  reported  amounts of revenues  and
     expenses  during the  reporting  period.  Actual  results could differ from
     those estimates.


(3)  Investment Options

     The investment options of the Plan are as follows:

     Participant contributions - Upon enrollment or re-enrollment,  participants
     direct that their contributions,  including any rollover contributions,  be
     invested in one or more of the following investment options:

          * Fidelity Magellan Fund

          The Fidelity  Magellan  Fund invests  mainly in equity  securities  of
          domestic,  foreign, and multinational  issuers of all sizes that offer
          potential  for growth with the  principal  purpose of seeking  maximum
          appreciation in value.

          * Fidelity Equity-Income Fund

          The Fidelity  Equity-Income  Fund invests  mainly in income  producing
          equity  securities  with the principal  purpose of earning  reasonable
          income while considering the potential for capital appreciation.

          *    Fidelity Intermediate Bond Fund

          The Fidelity Intermediate Bond Fund invests mainly in income producing
          equity  securities with the principal purpose of a moderate risk level
          and yield potential.

          *    Fidelity Low-Priced Stock Fund

          The Fidelity  Low-Priced Stock Fund invests primarily in the stocks of
          companies that the fund manager considers  undervalued or out of favor
          with  other  investors  and  that  could  offer  the  possibility  for
          significant growth with the principal purpose of seeking out stocks of
          smaller  companies  with per share prices of $25 or less. 

          *    Fidelity Diversified International Fund

          The  Fidelity  Diversified  International  Fund  invests  primarily in
          stocks of companies  located outside the U.S. that are included in the
          Morgan Stanley EAFE(R) index with the principal purpose of seeking out
          stocks  that  are  undervalued  compared  to  industry  norms in their
          countries.

          *    Fidelity Retirement Money Market Fund

          The  Fidelity  Retirement  Money  Market Fund  invests in high quality
          money market instruments including certificates of deposit, commercial
          paper,  short-term  corporate  and  U.S.  Government  obligations  and
          bankers' acceptance issued by major banks . The purpose of the Fund is
          to seek high money market  yields while  maintaining  preservation  of
          capital.

          *    Cinergy Common Stock Fund

          The  Cinergy  Common  Stock Fund  invests  in common  stock of Cinergy
          Corp.


(4)  Federal Income Tax Status - The Internal Revenue Service has determined and
     informed the Plan by letter dated January  1995,  that the Plan is designed
     in accordance with applicable  sections of the Internal Revenue Code (IRC).
     The  Plan  has been  amended  since  receiving  the  determination  letter.
     However,  the Plan  administrator and the Plan's legal counsel believe that
     the Plan is designed and is currently being operated in compliance with the
     applicable provisions of the IRC.


(5)  Investments - A participant may elect or change investment funds and/or the
     percentages in which contributions will be allocated at any time.

     The  following  investments  exceed 5% of total net  assets  available  for
     benefits at December 31, 1997 and 1996:



                                                        1997            1996
     Cinergy Common Stock Fund                      $151,447,611    $145,251,721
     Fidelity Equity-Income Fund                      16,571,031      11,395,092


(6)  Reconciliation  of Financial  Statements to Form  5500--The  following is a
     reconciliation  of Net Assets  Available  for  Benefits  per the  financial
     statements to the Form 5500:


                                                        December 31,
                                                   1997              1996

Net Assets per financial statements            $190,821,005      $175,602,033
Amounts allocated to withdrawing participants      (315,945)           (6,474)
Net assets per Form 5500                       $190,505,060      $175,595,559

     The following is a reconciliation  of benefits paid to participants per the
     financial statements to the Form 5500:

                                                                    Year Ended
                                                                    December 31,
                                                                       1997
    Benefits paid to participants per financial statements          $32,912,298
    Add:  Amounts allocated to withdrawing participants 
       at December 31, 1997                                             315,945
    Less:  Amounts allocated to withdrawing participants 
       at December 31, 1996                                              (6,474)
    Benefits paid to participants per Form 5500                    $ 33,221,769

     Amounts allocated to withdrawing participants are recorded on the Form 5500
     for  distributions  that have been processed and approved for payment prior
     to December 31 but not yet paid as of that date


(7)  Plan  Termination - Although it has not expressed any intent to do so, CG&E
     has the right under the Plan to discontinue its  contributions  at any time
     and to terminate the Plan subject to the provisions of ERISA.

<PAGE>


<TABLE>
<CAPTION>
                                   SCHEDULE I

                      THE CINCINNATI GAS & ELECTRIC COMPANY
                             SAVINGS INCENTIVE PLAN
           ITEM 27a - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
                                December 31, 1997




<S>                                 <C>                                                         <C>                 <C>  

 Identity of Issuer, Borrower,        Description of Investment, Including Maturity Date,
   Lessor, or Similar Party         Rate of Interest, Collateral, and Par or Maturity Value         Cost           Current Value
 
* Cinergy Corp.                     Common Stock                                                $ 83,204,574        $151,447,611
* Fidelity Investments              Magellan Fund                                                  7,524,375           8,344,841
* Fidelity Investments              Equity Income Fund                                            12,690,962          16,571,031
* Fidelity Investments              Intermediate Bond Fund                                         1,654,960           1,643,579
* Fidelity Investments              Low-Priced Stock Fund                                          1,411,152           1,384,880
* Fidelity Investments              Diversified International Stock Fund                             423,667             405,471
* Fidelity Investments              Retirement Money Market Fund                                   3,080,090           3,080,090
* Various plan participants         Participant loans (interest rates ranging from 5.25-9%)        7,312,212           7,312,212
    Total assets held for 
      investment purposes                                                                       $117,301,992        $190,189,715

<FN>
* Denotes a party-in-interest
</FN>
</TABLE>

<PAGE>

<TABLE>
<CAPTION>


                                                                     SCHEDULE II

                      THE CINCINNATI GAS & ELECTRIC COMPANY
                             SAVINGS INCENTIVE PLAN

                             Sponsor EIN: 31-0240030
                         Administration EIN: 31-1070386
                                Plan Number: 002

                 Item 27d - Schedule of Reportable Transactions
                      For the Year Ended December 31, 1997



<S>                           <C>         <C>        <C>           <C>           <C>   
                                Total       Total
                              Number of   Number of   Purchase    Selling Price   Net Gain
Identity of Securities        Purchases     Sales     Price (A)        (A)        on Sales
                                   
Cinergy Corp. Common             253         249     $23,898,826   $39,199,099   $16,421,165
  Stock Fund
Fidelity Equity-Income Fund      227         176       6,276,448     3,820,825       730,278
Fidelity Retirement Money
  Market Fund                    187         172       9,768,940    12,563,590          -

<FN>
(A)    The current  value of all assets  acquired or disposed of, at the time of
       the acquisition or disposition, is equal to the purchase price or selling
       price, respectively.
</FN>
</TABLE>


<PAGE>



                                   SIGNATURES


Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the Plan
Committee  has duly caused this annual  report to be signed on its behalf by the
undersigned hereunto duly authorized.



                      THE CINCINNATI GAS & ELECTRIC COMPANY
                             SAVINGS INCENTIVE PLAN
                                 (Name of Plan)

                             By /s/JERRY W. LIGGETT
                                 Jerry W. Liggett
                                Plan Administrator



June 22, 1998


<PAGE>





                                                                      Exhibit 23



                    CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS


As independent  public  accountants,  we hereby consent to the  incorporation by
reference  of our report  dated June 22, 1998  included in the Annual  Report on
Form 11-K for the year ended  December 31, 1997 of The Cincinnati Gas & Electric
Company  Savings   Incentive  Plan,  into  Cinergy  Corp.'s   previously   filed
Registration Statement File No. 33-55293.


                                                             ARTHUR ANDERSEN LLP


Cincinnati, Ohio
June 22, 1998