Profile: Wisconsin Energy Corp (WEC.N)
12 Dec 2013
Wisconsin Energy Corporation, incorporated on June 26, 1981, is a diversified holding company. The Company operates primarily through two 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). Its utility energy segment consists of Wisconsin Electric and Wisconsin Gas, operating together under the trade name of We Energies. Its electric utility operations consist of the electric operations of Wisconsin Electric. Wisconsin Electric, which is the largest electric utility in the state of Wisconsin, generates and distributes electric energy in a territory that includes southeastern (including the metropolitan Milwaukee area), east central and northern Wisconsin and the Upper Peninsula of Michigan. Its natural gas utility operation is engaged in the purchase, distribution and sale of natural gas to retail customers and the transportation of customer-owned natural gas throughout Wisconsin. Its non-utility energy segment derives its revenues primarily from the ownership of electric power generating facilities for long-term lease to Wisconsin Electric. Its non-utility energy segment derives its revenues primarily from the ownership of electric power generating facilities for long-term lease to Wisconsin Electric. As of December 31, 2012, the Company have a 26.2% interest in ATC.
Utility Energy Segment
The Company had approximately 1,125,700 electric customers as of December 31, 2012. Wisconsin Electric is authorized to provide retail electric service in designated territories in the state of Wisconsin. Wisconsin Electric also sells wholesale electric power within the MISO Energy Markets. The Company provides electric utility service to a diversified base of customers, in such industries as mining, paper, foundry, food products and machinery production, as well as to retail chains. During the Year ended December 31, 2012, the Company sold wholesale electric energy to one municipally owned system, two rural cooperatives and two municipal joint action agencies located in the states of Wisconsin and Michigan. Its wholesale electric energy sales were also made to 16 other public utilities and power marketers throughout the region.
The Company diversifies the coal supply for its power plants by purchasing coal from mines in Wyoming, Pennsylvania and Montana, as well as from various other states. Its natural gas-fired generation consists of four operating plants with a dependable capability of approximately 1,872 mega watts as of December 31, 2012. Wisconsin Electric's hydroelectric generating system consists of 13 operating plants with a total installed capacity of approximately 88 Mega watts and a dependable capability of approximately 40 Mega watts as of December 31, 2012.
The Company is authorized to provide retail gas distribution service in designated territories in the state of Wisconsin. Its steam utility generates, distributes and sells steam supplied by its VAPP and Milwaukee County Power Plant. Company operates a district steam system in downtown Milwaukee and the near south side of Milwaukee. Steam is supplied to this system from Valley Power Plant (VAPP), a coal-fired cogeneration facility. We also operate the steam production and distribution facilities of the Milwaukee County Power Plant located on the Milwaukee County Grounds in Wauwatosa, Wisconsin.
Non-Utility Energy Segment
The Company’s non-utility energy segment consists primarily of generating plants constructed. The Company power, through wholly owned subsidiaries, has designed and built approximately 2,320 megawatts of new generation in Wisconsin, which is being leased to Wisconsin Electric under long-term leases. As of December 31, 2012, Wisvest's sole operating asset and investment is Wisvest Thermal Energy Services, which provides chilled water services to the Milwaukee Regional Medical Center. Wispark has developed several business parks and other commercial real estate projects, primarily in southeastern Wisconsin.
Wisconsin Energy Corp
231 W. Michigan St.,
P O Box 1331
MILWAUKEE WI 53201