Wisconsin Energy (abbreviated here as WE abbreviated on the SEC as WEC) is buying Integrys Distribution Network which includes Chicago. So the 2 big questions this raises is 1) Will this have an effect on Chicago’s electric rates and renewable goals. and 2) will the WE offer Chicago a new and improved natural gas deal? We shall see. Ameren must be wondering the same sort of things. Below are a short article link and then a longer treatment.
Peoples Gas parent Integrys being bought for $5.7 billion
WEC Energy Group the merged company will be headquartered in Milwaukee, with “operating headquarters” in Chicago, Green Bay and Milwauke.
“The first thing on my mind that I opened with in my discussion with Charlie is when you look at what the combined company would become in what is clearly a consolidating industry,” he recalled. “Size, scale and the ability to take advantage of the economies of scale is becoming more important.”
On Monday, six months after that dinner, the two CEOS were together again, announcing a $5.7 billion merger agreement that will create an energy company with more than 4.3 million metered electric and gas customers in Illinois, Wisconsin, Michigan and Minnesota.
Go there and read. More next week.