Profile: WEC Energy Group Inc (WEC.N)
22 Jul 2016
WEC Energy Group, Inc., formerly Wisconsin Energy Corporation, incorporated on June 26, 1981, is a holding company, which has electric and natural gas utility operations. The Company serves customers in Wisconsin, Illinois, Michigan and Minnesota. The Company's segments are Wisconsin, Illinois, other states, electric transmission, We Power, and corporate and other. The Company's subsidiaries provide regulated natural gas and electricity, as well as non-regulated renewable energy.
The Wisconsin segment includes the electric and natural gas utility, and non-utility operations of Wisconsin Electric Power Company (Wisconsin Electric), Wisconsin Gas LLC (Wisconsin Gas) and Wisconsin Public Service Corporation (WPS), including Wisconsin Electric's electric and WPS's electric and natural gas operations in the state of Michigan. The Company's electric utility operations include operations of Wisconsin Electric. Wisconsin Electric is an electric utility in the state of Wisconsin, generates and distributes electric energy to customers located in southeastern Wisconsin, including the metropolitan Milwaukee area, east central Wisconsin, northern Wisconsin and Michigan's Upper Peninsula. Wisconsin Public Service Corporation generates and distributes electric energy to approximately 449,200 customers located in northeastern Wisconsin and Michigan's Upper Peninsula. The Company's electric energy deliveries include supply and distribution sales to retail and wholesale customers, and distribution sales to those customers who switched to an alternative electric supplier.
The Company's electric utilities buy and sell wholesale electric power by participating in the Midcontinent Independent System Operator, Inc. (MISO) Energy and Operating Reserves Market (MISO Energy Markets). It provides electric utility service to a base of customers in industries, such as mining, paper, foundry, food products and machinery production, health services, governmental and large retail chains. It provides wholesale electric service to various customers, including electric cooperatives, municipal joint action agencies, other investor-owned utilities, municipal utilities and energy marketers. Its coal-fired generation consists of approximately 10 operating plants with a rated capacity of approximately 4,950 megawatts (MW). Its natural gas-fired generation consists of approximately 10 operating plants, including peaking units, with a rated capacity of approximately 3,170 MW. Its oil-fired generation had a rated capacity of approximately 180 MW. It also has natural gas-fired peaking units with a rated capacity of approximately 1,210 MW. Its hydroelectric generating system consists of approximately 30 operating plants with a total installed capacity of approximately 160 MW and a rated capacity of approximately 140 MW. It has approximately six wind sites, consisting of approximately 280 turbines, with an installed capacity of approximately 440 MW and a rated capacity of approximately 70 MW. The Company has a biomass-fueled power plant at a Rothschild, Wisconsin paper mill site.
The Company's natural gas utility operations include Wisconsin Gas's and Wisconsin Electric's natural gas operations, and WPS's natural gas operations, including in the Upper Peninsula of Michigan. The Company transports customer-owned natural gas. The Company operates in the City of Milwaukee and surrounding areas, northeastern Wisconsin, and various areas of both central and western Wisconsin. The Company provides natural gas utility service to a range of industrial customers within its electric service territory. The Company serves industries, including governmental, educational, food products, paper and metal. It has contracts for supplies with terms ranging from approximately three to seven months with suppliers for natural gas acquired in the Chicago, Illinois market hub and in various producing areas.
Wisconsin Electric has a steam utility that generates, distributes, and sells steam supplied by Valley Power Plant (VAPP) and Milwaukee County Power Plant (MCPP) to customers in metropolitan Milwaukee, Wisconsin. Wisconsin Electric operates a district steam system in downtown Milwaukee and the near south side of Milwaukee, and steam is supplied to this system from VAPP. Wisconsin Electric also operates the steam production and distribution facilities of the MCPP located on the Milwaukee County Grounds in Wauwatosa, Wisconsin.
The Illinois segment includes the natural gas utility and non-utility operations of North Shore Gas Company (NSG), and The Peoples Gas Light and Coke Company (PGL). The Company manages portfolios of natural gas supply contracts, storage services and pipeline transportation services designed to meet varying customer use patterns with natural gas supplies. It owns an approximately 40 billion cubic feet (Bcf) storage field , which include Manlove Field in central Illinois, and contracts with various other underground storage service providers for additional storage services. It also owns a natural gas pipeline system that connects Manlove Field to Chicago and approximately eight interstate pipelines.
Other States Segment
The other states segment includes the natural gas utility and non-utility operations of Minnesota Energy Resources Corporation (MERC) and Michigan Gas Utilities Corporation (MGU). MERC serves customers in various cities and communities throughout Minnesota, and MGU serves customers in the southern portion of lower Michigan.
Electric Transmission Segment
The Company's electric transmission segment includes its ownership interests in American Transmission Company LLC (ATC), an electric transmission company. ATC owns, maintains, monitors and operates electric transmission systems in Wisconsin, Michigan, Illinois and Minnesota. MISO maintains operational control of ATC's transmission system, and Wisconsin Electric and WPS are non-transmission owning members and customers of MISO.
We Power Segment
The Company's We Power segment includes its non-regulated entity that owns and leases generating facilities to Wisconsin Electric. We Power has approximately 2,350 MW of generation in Wisconsin.
Corporate and Other Segment
The corporate and other segment includes the operations of the WEC Energy Group holding company, the Integrys holding company, the PELLC holding company, Wispark LLC (Wispark), Bostco LLC (Bostco), Wisvest LLC (Wisvest), Wisconsin Energy Capital Corporation (WECC), WEC Business Services, LLC (WBS), WPS Power Development LLC (PDL) and Integrys Transportation Fuels, LLC (ITF). Bostco and Wispark develop and invest in real estate. Wispark has developed several business parks and other commercial real estate projects, primarily in southeastern Wisconsin. WBS is a centralized service company that provides administrative and general support services to its regulated utilities. WBS also provides certain administrative and support services to its non-regulated entities. PDL owns distributed renewable projects, primarily solar and a natural gas-fired cogeneration facility in Wisconsin known as the Combined Locks Energy Center.
WEC Energy Group Inc
231 W Michigan St
PO Box 1331
MILWAUKEE WI 53201-1331