For Release: 01/10/2014
Integrys Energy Group Utility Subsidiaries Perform During Deep Freeze
Chicago, IL - The five natural gas subsidiaries of Integrys Energy Group, Inc. (NYSE:TEG) saw record use of natural gas pass through their distribution systems during the past week. The utilities, Michigan Gas Utilities, Minnesota Energy Resources, North Shore Gas (IL), Peoples Gas (IL) and Wisconsin Public Service (provides natural gas and electricity) delivered a combined total of 3.4 billion cubic feet to their 1.7 million customers for the period 9 AM Monday, January 6, through 9 AM Tuesday, January 7. It was the largest daily distribution since the subsidiaries were merged into Integrys Energy Group in 2007. Upper Peninsula Power Company, an electric-only Integrys subsidiary in Michigan also faced several cold weather-related outages during the brutal weather.
Integrys is spending more than $1 billion over the next decade to invest in its natural gas infrastructure in Chicago and millions more at its other Midwestern subsidiaries to ensure its distribution networks can endure record-breaking weather conditions in the future.
Larry Borgard, President and Chief Operating Officer, Integrys Energy Group said, "Gas use across our utilities was up around 60% on Monday, January 6, compared to just two days prior, but effective hedge plans and the use of our storage assets will help mitigate the cost impact of the polar vortex on customers."
"We have a track record of concern for the safety of employees and customers, as well as reliability in serving them, even in the most demanding situations."
The Integrys natural gas utilities purchase from dozens of suppliers, allowing for not only competitive prices, but a diversity of supply, thus increasing reliability when the market is stressed, as it was this past week.
Borgard said none of the subsidiaries had any outages due to pipeline pressure problems during the cold snap. No subsidiary had to cut supplies to manufacturing companies beyond contracted levels to ensure its other customers had adequate supply.
He also had praise for customers and Integrys employees saying, "both our natural gas and electric field employees across Integrys braved frigid temperatures and howling winds to ensure customers received reliable service. In addition, customers showed remarkable patience and perseverance in the few instances where emergency actions were needed to either maintain or restore heat when there were issues."
About Integrys Energy Group, Inc.
Integrys Energy Group is a diversified energy holding company with regulated natural gas and electric utility operations (serving customers in Illinois, Michigan, Minnesota, and Wisconsin), an approximate 34% equity ownership interest in American Transmission Company (a federally regulated electric transmission company operating in Wisconsin, Michigan, Minnesota, and Illinois), and nonregulated energy operations. More information is available at www.integrysgroup.com.