Integrys Energy Group

Integrys Energy Group, Inc. was an American energy holding company headquartered in Chicago, Illinois. It was created through the merger of WPS Resources Corp. and Peoples Energy Corp., completed on February 21, 2007. The transaction brought together electricity and natural-gas operations serving customers in several Midwestern states under a single corporate structure. The company's regulated utility portfolio included Peoples Gas Light and Coke Company, which supplied natural gas in the City of Chicago; North Shore Gas Company, which served northern Chicago suburbs; Wisconsin Public Service Corporation, an electric and natural-gas utility operating in northeastern and central Wisconsin; Minnesota Energy Resources Corporation, a natural-gas utility serving communities across Minnesota; Michigan Gas Utilities Corporation, a natural-gas utility serving lower Michigan; and Upper Peninsula Power Company, an electric utility serving Michigan's Upper Peninsula. Through these businesses, Integrys operated networks and customer-service operations rather than functioning primarily as a consumer-facing retail brand. Its core role was to own, coordinate, and manage regulated utilities and related energy businesses. Integrys also maintained nonregulated activities. Integrys Energy Services supplied energy and related services to residential, commercial, industrial, and wholesale customers in competitive American markets. Integrys Business Support provided shared operational and administrative services to the group's subsidiaries. Integrys Transportation Fuels operated compressed-natural-gas fueling stations under the Trillium CNG name, extending the group into transportation-fuel infrastructure. The company pursued a portfolio-management strategy typical of a diversified utility holding company: regulated utilities provided the principal local service platforms, while nonregulated businesses addressed competitive energy supply, support services, and alternative transportation fuels. The structure also left the company with a range of state-regulated assets that could be evaluated separately. In January 2014, Integrys announced its intention to sell Upper Peninsula Power Company, and in 2014 it entered into an agreement to sell the utility to Balfour Beatty Infrastructure Partners LP. On June 23, 2014, Integrys announced that Wisconsin Energy Corporation would acquire it in a transaction valued at approximately $9.1 billion. The acquisition ended Integrys's independent corporate existence and expanded Wisconsin Energy's utility holdings. Wisconsin Energy subsequently became WEC Energy Group, and Integrys's former operations were incorporated into the successor company's portfolio. Integrys is therefore a defunct corporate brand and former holding-company parent rather than an independently operating utility today.

Integrys Energy Group emerged from the combination of two established American energy companies, WPS Resources Corp. and Peoples Energy Corp. The merger was completed on February 21, 2007, creating a holding company with regulated utility operations in Illinois, Wisconsin, Minnesota, and Michigan, together with businesses operating in competitive energy markets. The resulting organization was built around a portfolio of local utility subsidiaries. Peoples Gas Light and Coke Company supplied natural gas to customers in Chicago, while North Shore Gas served communities in the city's northern suburbs. Wisconsin Public Service Corporation combined electric and natural-gas operations in northeastern and central Wisconsin. Minnesota Energy Resources Corporation and Michigan Gas Utilities Corporation focused on natural-gas distribution in their respective states. Upper Peninsula Power Company supplied electricity in Michigan's Upper Peninsula. These subsidiaries retained their local operating identities and customer relationships while being held within the Integrys corporate structure. Integrys's activities extended beyond regulated distribution. Integrys Energy Services operated as a nonregulated energy supplier and services company serving residential, commercial, industrial, and wholesale customers in competitive markets. Integrys Business Support supplied internal services and operational solutions to group companies. Integrys Transportation Fuels operated compressed-natural-gas fueling stations under the Trillium CNG brand. This combination gave Integrys exposure to regulated utility earnings as well as competitive energy supply and transportation-fuel infrastructure. The group also periodically adjusted its asset portfolio. In January 2014, Integrys announced its intention to sell Upper Peninsula Power Company. Later that year it entered an agreement with Balfour Beatty Infrastructure Partners LP for the sale of the utility. The transaction reflected the ability of a holding company to separate individual utility assets from its broader operating portfolio. A major strategic turning point came on June 23, 2014, when Integrys announced that Wisconsin Energy Corporation would acquire it. The announced transaction value was approximately $9.1 billion. The acquisition brought Integrys's regulated utilities and other businesses under Wisconsin Energy's ownership and ended Integrys's existence as an independent energy group. Wisconsin Energy later adopted the WEC Energy Group name. Accordingly, Integrys is now best understood as a predecessor corporate brand and former utility holding company whose operating businesses became part of WEC Energy Group.

• 2014

  Upper Peninsula Power sale process announced

  [1]Integrys Energy Groupen.wikipedia.org

  Integrys announced plans to sell Upper Peninsula Power Company and later agreed to sell it to Balfour Beatty Infrastructure Partners LP.

• 2014

  Wisconsin Energy acquisition announced

  [1]Integrys Energy Groupen.wikipedia.org

  Wisconsin Energy Corporation announced its agreement to acquire Integrys in a transaction valued at approximately $9.1 billion.

• 2011

  Public Campaign criticism

  [1]Integrys Energy Groupen.wikipedia.org

  Public Campaign criticized the company's reported lobbying expenditure, tax rebates, and executive compensation.

• 2007

  WPS Resources and Peoples Energy merger completed

  [1]Integrys Energy Groupen.wikipedia.org

  The merger of WPS Resources Corp. and Peoples Energy Corp. was completed on February 21, creating Integrys Energy Group.

A diversified Midwestern utility holding company combining regulated electric and natural-gas utilities with nonregulated energy supply, business-support, and compressed-natural-gas activities.

• Regulated natural-gas utility

  Peoples Gas Light and Coke Company

  A regulated natural-gas utility serving customers in the City of Chicago. It was one of Integrys's principal urban gas operations and maintained its own local utility identity within the holding-company structure.

• Regulated electric and natural-gas utility

  Wisconsin Public Service Corporation

  An electric and natural-gas utility serving northeastern and central Wisconsin. Its activities made it one of the group's major combined-service operating companies.

• Regulated natural-gas utility

  Minnesota Energy Resources Corporation

  A natural-gas utility serving customers throughout Minnesota. It formed part of Integrys's regulated gas-distribution portfolio.

• Regulated natural-gas utility

  Michigan Gas Utilities Corporation

  A natural-gas utility serving lower Michigan. The business extended Integrys's regulated gas operations into another Midwestern state.

• Regulated natural-gas utility

  North Shore Gas Company

  A natural-gas utility serving northern suburbs of Chicago. It operated alongside Peoples Gas within the company's Illinois utility portfolio.

• Regulated electric utility

  Upper Peninsula Power Company

  An electric utility serving Michigan's Upper Peninsula. Integrys announced plans to divest the company in 2014 and agreed to sell it to Balfour Beatty Infrastructure Partners LP.

• Nonregulated energy supply and services

  Integrys Energy Services

  A competitive energy business serving residential, commercial, industrial, and wholesale customers in developed energy markets in the United States.

• Compressed-natural-gas fueling

  Trillium CNG

  The brand used by Integrys Transportation Fuels for compressed-natural-gas fueling stations operating across the United States.

• 2014

  Agreement to be acquired by Wisconsin EnergyM&A

  Background

  Integrys operated a diversified portfolio of regulated utilities and nonregulated energy businesses when Wisconsin Energy proposed acquiring the company.

  Action taken

  Integrys announced on June 23, 2014 that it had agreed to be acquired by Wisconsin Energy Corporation.

  Aftermath

  The acquisition ended Integrys's independent corporate existence and placed its businesses within the organization that later became WEC Energy Group.

  Announced transaction value. $9.1 billion (2014 announcement)

  Source

• 2014

  Sale of Upper Peninsula Power CompanyM&A

  Background

  Integrys reviewed its regulated utility portfolio and announced an intention to divest Upper Peninsula Power Company.

  Action taken

  Integrys entered an agreement to sell all of Upper Peninsula Power Company to Balfour Beatty Infrastructure Partners LP.

  Aftermath

  The transaction separated the Michigan Upper Peninsula electric utility from Integrys's remaining portfolio.

  Announced sale price. $298.9 million (2014 agreement)

  Source

1. 1Integrys Energy Groupen.wikipedia.org