Background on Wisconsin Energy can help you with the Integrys deal
Basics on Wisconsin Energy
Wisconsin Energy (WEC) is buying Integrys (TEG). Wisconsin Energy Corporation was incorporated in Wisconsin in 1981. It became a diversified holding company in 1986. Its headquarters are in Milwaukee, Wisconsin. The company operates mainly in two reportable segments: a utility energy segment and a non-utility energy segment. Its primary subsidiaries are Wisconsin Electric Power Company (Wisconsin Electric), Wisconsin Gas LLC (Wisconsin Gas), and W.E. Power, LLC (We Power).
Let’s take a closer look at WEC’s background to help you understand the WEC-TEG merger.
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- Utility Energy Segment: The company’s utility energy segment consists of Wisconsin Electric and Wisconsin Gas. These brands operate together under the trade name “We Energies.” We Energies serves approximately 1,128,300 electric customers in Wisconsin and the Upper Peninsula of Michigan. We Energies also serves approximately 1,079,800 gas customers in Wisconsin and approximately 445 steam customers in metropolitan Milwaukee, Wisconsin.
- Non-Utility Energy Segment: The company’s non-utility energy segment consists primarily of We Power, which owns and leases to Wisconsin Electric generation plants constructed as part of Integrys’s Power the Future strategy. All four of the plants constructed as part of PTF are now in service. Port Washington Generating Station Unit 1 (PWGS 1) and Port Washington Generating Station Unit 2 (PWGS 2) are leased to Wisconsin Electric under 25-year leases. Oak Creek expansion Unit 1 (OC 1) and Oak Creek expansion Unit 2 (OC 2) are leased to Wisconsin Electric under 30-year leases.
Consider retail sales
Wisconsin Energy has been reporting slightly declining retail sales. The company’s positive customer growth is offset by lower usage. Its biggest commercial customers are two iron ore mines in the Upper Peninsula of Michigan.
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