WEC Energy Group
| File:WEC Energy Group Logo.svg | |
| Company type | Public |
|---|---|
| Industry | Diversified utilities |
| Founded | 1896 |
| Headquarters | Milwaukee, Wisconsin, U.S. |
Key people | Gale Klappa, Executive Chairman, Scott Lauber, CEO |
| Revenue | Template:US$ (2024) |
Number of employees | 7,017[1] (2024) |
| Website | wecenergygroup |
WEC Energy Group is a U.S.-based energy corporation located in Milwaukee, Wisconsin, providing electricity and natural gas services to approximately 4.4 million customers throughout four states.[2]
Wisconsin
- We Energies (encompassing Wisconsin Electric Power and Wisconsin Gas) delivers electricity and natural gas across the entire state
- Wisconsin Public Service Corporation supplies electricity and gas to northeastern and northcentral regions of Wisconsin
- Bluewater Gas Storage offers natural gas storage and hub operations supporting both We Energies and Wisconsin Public Service
- WEC Infrastructure is responsible for the development and ownership of electric generation facilities
- Wispark specializes in urban redevelopment and real estate development initiatives
- Wisconsin River Power Company, jointly owned by WEC (50%) and Alliant Energy (50%), operates hydroelectric power plants[3]
Illinois
- Peoples Energy provides natural gas service within Chicago
- North Shore Gas supplies natural gas to the northern suburbs of Chicago
Minnesota
- Minnesota Energy Resources Corporation manages natural gas distribution
Michigan
- Michigan Gas Utilities Corporation delivers natural gas services in lower Michigan
- Upper Michigan Energy Resources supplies both electricity and natural gas in Michigan’s Upper Peninsula
History
- 1896 Established as Milwaukee Electric Railway and Light Company to operate interurban rail lines; began commercial sale of surplus electricity.
- 1919 Implemented pulverized coal technology at East Wells Power Plant to enhance cost efficiency in power generation.
- 1921 Created Wisconsin Electric Power Company to construct Lakeside Power Plant, the first facility dedicated solely to pulverized coal combustion.
- 1935–1948 Port Washington Power Plant functioned as a leading high-efficiency coal-fired station.
- 1938–1946 Milwaukee Electric Railway merged into Wisconsin Electric; the company separated from North American Company ownership.
- 1953–1985 Expanded Oak Creek Power Plant and Pleasant Prairie with multiple large-capacity generating units.
- 1970 Commissioned the 908-megawatt Point Beach Nuclear Plant, recognized for its operational excellence.
- 1987 Transitioned into a holding company named Wisconsin Energy Corporation with several subsidiaries.
- 1994–1998 Grew regional presence by acquiring Wisconsin Southern Gas Co. and ESELCO.
- 2000 Merged WICOR (Wisconsin Gas) into Wisconsin Energy; announced a $7 billion investment targeting new power plant construction and system enhancements.
- 2001–2002 Participated in founding American Transmission Company; commenced operations under the We Energies brand.
- 2004–2007 Sold off non-core assets including Point Beach Nuclear Plant while retaining rights to its output.
- 2008–2011 Expanded renewable energy assets with Blue Sky Green Field Wind Farm and Glacier Hills Wind Park; added a biomass cogeneration plant in Rothschild, Wisconsin.
- 2013–2015 Completed $9.1 billion acquisition of Integrys Energy Group, significantly broadening utility operations across Wisconsin, Illinois, and Michigan.[4]
- 2017 Purchased Bluewater Gas Storage for $230 million to strengthen natural gas storage capabilities supporting its distribution subsidiaries.[5]
Primergy merger
On May 3, 1995, Wisconsin Energy Corporation and Northern States Power Company () submitted SEC Form 8-K filings to announce their plan to merge as equals, forming Primergy Corporation. This combined company would have ranked as the tenth largest investor-owned electric and gas utility in the United States, boasting a market value near US$6 billion. Although NSP was designated as the nominal survivor and would maintain its headquarters in Minneapolis, the corporation was to be officially registered in Wisconsin.
By May 16, 1997, the CEOs of both firms declared the discontinuation of the merger, citing extended delays in obtaining regulatory approvals from the U.S. Department of Justice, SEC, and various state agencies. Evolving regulatory frameworks threatened to diminish the anticipated advantages of the deal. The postponement had already set the merger back by five months and resulted in a combined earnings loss of US$58 million. Following this announcement, Wisconsin Energy’s stock declined approximately 13%, whereas NSP’s shares increased by 6%. This halted merger represented a significant moment for the utility sector, contributing to a slowdown in merger and acquisition activities.
External links
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- Pages with broken file links
- Companies listed on the New York Stock Exchange
- Companies based in Milwaukee
- Electric power companies of the United States
- American companies established in 1896
- Hydroelectric power companies of the United States
- Energy companies established in 1896
- 1896 establishments in Wisconsin
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- Companies of the United States by year of establishment
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