Integrys Energy Group
|Traded as||NYSE: TEG
S&P 500 Component
|Headquarters||One Prudential Plaza
Chicago, Illinois, USA
|Key people||Charles A. Schrock|
|Products||Natural Gas, Electricity|
|Subsidiaries||Integrys Energy Services
Michigan Gas Utilities
Minnesota Energy Resources
North Shore Gas
Upper Peninsula Power Company
Wisconsin Public Service
Integrys Energy Group, Inc. is an American energy company headquartered in Chicago, Illinois. It was formed by the merger of WPS Resources Corp. and Peoples Energy Corp. on February 21, 2007. The Chairman, President, and Chief Executive Officer is Charles A. Schrock. On June 23, 2014, Integrys announced that it was being acquired by Wisconsin Energy Corporation for $9.1 billion.
The six regulated utilities consist of:
- The Peoples Gas Light and Coke Company, a natural gas utility serving approximately 819,000 customers in the City of Chicago.
- Wisconsin Public Service Corporation, an electric and natural gas utility serving approximately 439,000 electric customers and 318,000 natural gas customers in northeastern Wisconsin and an adjacent portion of Michigan's Upper Peninsula.
- Minnesota Energy Resources Corporation, a natural gas utility serving approximately 212,000 customers throughout Minnesota.
- Michigan Gas Utilities Corporation, a natural gas utility serving approximately 165,000 customers in lower Michigan.
- North Shore Gas Company, a natural gas utility serving approximately 158,000 customers in the northern suburbs of Chicago.
- Upper Peninsula Power Company, an electric utility serving approximately 52,000 customers in Michigan's Upper Peninsula. Note: Integrys announced its intention to sell Upper Peninsula Power to Balfour Beatty Infrastructure Partners LP on 20 January 2014.
The company’s other subsidiaries are:
- Integrys Business Support, is Integrys Energy Group's business services company — providing services and solutions for operation of Integrys' subsidiaries.
- Integrys Energy Services, Inc., a diversified nonregulated energy supply and services company serving residential, commercial, industrial, and wholesale customers in developed competitive markets in the United States.
- Trillium CNG, a provider of compressed natural gas fueling services as well as a single-source provider of CNG fueling facility design, construction, operation and maintenance.
In December 2011, the non-partisan organization Public Campaign criticized Integrys Energy Group for spending $710,000 on lobbying and not paying any taxes during 2008-2010, instead receiving $92 million in tax rebates, despite making a profit of $818 million and increasing executive pay by 109% to $14.8 million in 2010 for its top 5 executives.
- "INTEGRYS ENERGY GROUP, INC. 2013 Annual Report Form (10-K)" (XBRL). United States Securities and Exchange Commission. February 27, 2014.
- "INTEGRYS ENERGY GROUP, INC. 2014 Q1 Quarterly Report Form (10-Q)" (XBRL). United States Securities and Exchange Commission. May 2, 2014.
- "Utility firms Wisconsin Energy and Integrys plan merger". Wisconsin Star. Retrieved 23 June 2014.
- Portero, Ashley. "30 Major U.S. Corporations Paid More to Lobby Congress Than Income Taxes, 2008-2010". International Business Times. Archived from the original on 26 December 2011. Retrieved 26 December 2011.