Edition:
United States

Profile: WEC Energy Group Inc (WEC)

WEC on New York Consolidated

65.19USD
13 Jul 2018
Change (% chg)

$-0.39 (-0.59%)
Prev Close
$65.58
Open
$65.65
Day's High
$65.70
Day's Low
$64.74
Volume
2,555,060
Avg. Vol
1,784,241
52-wk High
$70.09
52-wk Low
$58.48

WEC Energy Group, Inc., incorporated on June 26, 1981, was a diversified holding company with natural gas and electric utility operations (serving customers in Wisconsin, Illinois, Michigan, and Minnesota), an approximately 60% equity ownership interest in American Transmission Company LLC (ATC) (a federally regulated electric transmission company), and non-utility electric operations through its We Power business, as of December 31, 2016. The Company's segments include Wisconsin; Illinois; Other States; Electric Transmission; We Power, and Corporate and Other.

Wisconsin

The Wisconsin segment includes the electric and natural gas utility operations of Wisconsin Electric Power Company (WE), Wisconsin Gas LLC (WG), and Wisconsin Public Service Corporation (WPS), including WE's and WPS's electric and natural gas operations in the state of Michigan. WE, which 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, and northern Wisconsin, and serves an iron ore mine owned by Tilden Mining Company (Tilden) in the Upper Peninsula of Michigan. WPS generates and distributes electric energy to customers located in northeastern Wisconsin. Through December 31, 2016, WE and WPS serviced electric customers in the Upper Peninsula of Michigan. Its 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. Its 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).

The Company provides electric utility service to a diversified base of customers in such industries as paper, governmental, food products, foundry, mining, health services, printing, and retail. 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 consisted of eight operating plants with a rated capacity of 4,933 megawatts (MW), as of December 31, 2016. Its natural gas-fired generation consisted of nine operating plants, including peaking units, with a rated capacity of 3,250 MW, as of December 31, 2016. Its oil-fired generation had a rated capacity of 180 MW, as of December 31, 2016. It also had natural gas-fired peaking units with a rated capacity of 1,221 MW, as of December 31, 2016. Its hydroelectric generating system consisted of 30 operating plants with a total installed capacity of 171 MW and a rated capacity of 150 MW, as of December 31, 2016. It had six wind sites, consisting of 280 turbines, with an installed capacity of 447 MW and a rated capacity of 73 MW, as of December 31, 2016. It also has a biomass-fueled power plant at a Rothschild, Wisconsin paper mill site. It provides natural gas utility service to a diversified base of industrial customers in its electric service territory. It serves industries, such as governmental, food products, education, real estate, and metals. 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.

Illinois

The Illinois segment includes the natural gas utility and non-utility operations of The Peoples Gas Light and Coke Company (PGL) and North Shore Gas Company (NSG). PGL and NSG are engaged primarily in the distribution of natural gas in Illinois. It manages portfolios of natural gas supply contracts, storage services and pipeline transportation services designed to meet varying customer use patterns with natural gas supplies. As of December 31, 2016, it owned a 38.3 billion cubic feet (Bcf) storage field, which includes Manlove Field in central Illinois, and contracts with various other underground storage service providers for additional storage services. As of December 31, 2016, it also owned a natural gas pipeline system that connects Manlove Field to Chicago and eight major interstate pipelines.

Other States

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 and MGU are engaged primarily in the distribution of natural gas in Minnesota and Michigan, respectively. MERC serves customers in various cities and communities throughout Minnesota, and MGU serves customers in the southern portion of lower Michigan.

Electric Transmission

As of December 31, 2016, the Electric transmission segment consisted of its approximate 60% ownership interest in ATC, a federally regulated electric transmission company. ATC is a regional transmission company that owns, maintains, monitors, and operates electric transmission systems in Wisconsin, Michigan, Illinois, and Minnesota. MISO maintains operational control of ATC's transmission system, and WE and WPS are non-transmission owning members and customers of MISO.

We Power

The We Power segment includes its non-regulated entity that owns and leases generating facilities to WE. The We Power is principally engaged in the ownership of electric power generating facilities for long-term lease to WE. As of December 31, 2016, We Power, through its subsidiaries, designed and built approximately 2,350 MW of generation in Wisconsin.

Corporate and other

The corporate and other segment includes the operations of the WEC Energy Group holding company, the Integrys holding company, the Peoples Energy, LLC holding company, Wispark, Bostco, Wisconsin Energy Capital Corporation (WECC), WEC Business Services LLC (WBS) and WPS Power Development LLC (PDL). Its Bostco and Wispark develops and invests 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 solar projects.

Company Address

WEC Energy Group Inc

231 W Michigan St
PO Box 1331
MILWAUKEE   WI   53201-1331
P: +1414.2212345
F: +1414.2213814

Company Web Links