The former Integrys Energy Group and its operating companies were recently acquired and now do business as WEC Energy Group. Suppliers and individuals seeking employment may use the links below to find information about working with Michigan Gas Utilities, Minnesota Energy Resources, North Shore Gas, Peoples Gas and Wisconsin Public Service.

News Releases

Peoples Gas North Shore Gas

For Release: 02/07/2008

Integrys Energy Group Reports Financial Implications of Illinois Rate Orders

Chicago, IL - Integrys Energy Group, Inc. (NYSE: TEG), an operator of regulated natural gas and electric utilities and nonregulated energy related business units, today announced that two of its subsidiaries, The Peoples Gas Light and Coke Company (Peoples Gas) and North Shore Gas Company (North Shore Gas) have received approval from the Illinois Commerce Commission to adjust retail natural gas delivery rates to their customers. The new rates are anticipated to be effective February 14, 2008. The Commission authorized:

Approved Rate Case Summary
  Peoples Gas North Shore Gas
Revenue Increase/(Decrease) $71,191,000 $(213,000)
Rate Base $1,212,274,000 $182,033,000
Authorized Percent of Equity in Capital Structure 56% 56%
Authorized Return on Equity 10.19% 9.99%

This is the first retail natural gas base rate increase for our Illinois customers since 1995.

Elements of the Authorized Rate Structure

The new rate structure includes several tools that provide the companies the opportunity to recover the fixed costs of operating their natural gas delivery system while also better aligning the energy efficiency interests of the companies with those of consumers, regulators, and elected officials.

One such mechanism is the Volume Balancing Adjustment (VBA), also known as "decoupling," which was approved on a four-year trial basis. It basically breaks the link between utility revenues and customers' energy consumption providing the revenues necessary to run the company’s 6,000-mile natural gas delivery system in Illinois. The mechanism will allow the companies to adjust rates to recover or return under or over collections of margin revenues due to variations from the margin revenues that are approved in the rate case. Such variations result from weather, customer conservation, or factors other than addition or loss of customers. Decoupling does not shelter the utility from the impact of increased costs or guarantee the company's profits. Overall, customers pay no more or no less than what the utility is authorized to recover by state regulators. The approval of the decoupling mechanism reflects the Commission's support for the long-term financial health of the company and recognition of the importance of innovative rate mechanisms in the current business environment.

The Commission did not approve Rider ICR, the requested tracker mechanism for the costs of accelerating the replacement of the aging infrastructure in Chicago. The company is still very much interested in accelerating the replacement of the infrastructure and will explore various alternatives for recovery of these costs. The new rate structure still allows for replacing cast iron mains with newer materials that will ultimately cause less disruption to neighborhoods during maintenance and repair work, although not at the same level proposed in Rider ICR.

The Commission did not approve Rider UBA, the requested uncollectible balance adjustment mechanism, which would allow recovery of the actual natural gas cost portion of bad debt expenses.

The companies will use the new rate structure to continue to enhance natural gas delivery safety, reliability, and customer service.

Integrys Energy Group will update its earnings guidance for 2008 during its earnings conference call on February 20, 2008 and will incorporate the impacts of the final approved rates for Peoples Gas and North Shore Gas as well as other elements from its forecasts for 2008.

Forward-Looking Statements

This news release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. You can identify these statements by the fact that they do not relate strictly to historical or current facts and often include words such as "anticipate," "expect," "intend," and other similar words. Forward-looking statements are beyond the ability of Integrys Energy Group to control and, in many cases, Integrys Energy Group cannot predict what factors would cause actual results to differ materially from those indicated by forward-looking statements. Please see Integrys Energy Group's periodic reports filed with the Securities and Exchange Commission (including its 10-K and 10-Qs) for a listing of certain factors that could cause actual results to differ materially from those contained in forward-looking statements.

About Integrys Energy Group, Inc.

Integrys Energy Group, Inc. (NYSE: TEG), headquartered in Chicago, Illinois, is a holding company for energy related subsidiaries, which includes regulated utilities and nonregulated subsidiaries.

The six regulated utilities consist of:

  • The Peoples Gas Light and Coke Company, a natural gas utility serving approximately 830,000 customers in the City of Chicago.
  • Wisconsin Public Service Corporation, an electric and natural gas utility serving approximately 433,000 electric customers and 314,000 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 207,000 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.

The company's principal nonregulated subsidiary is:

  • 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 and Canada.

More information about Integrys Energy Group, Inc. is available online at www.integrysgroup.com.

For More Information, Contact:

  • Steven P. Eschbach, CFA
    Vice President - Investor Relations
    Integrys Energy Group, Inc.
    (312) 228-5408