WEC Earnings Accelerate In First Quarter

In part as a result of the acquisition of Integrys Energy Group, Wisconsin Energy has reported net income of $346.2 million, up from $195.8 million in last year’s first quarter. Earnings per share were $1.09, compared with 86 cents last year. Analysts who follow the company were expecting profit of $1.01 per share. That $9.1 billion deal added Wisconsin Public Service in Green Bay as well as Peoples Gas in Chicago and natural gas utilities in Michigan and Minnesota.

PSC CLEARS SALE OF WE ENERGIES POWER PLANT NEAR WAUWATOSA HOSPITALS

The small coal-fired power plant operated by We Energies in Wauwatosa, Wisconsin, can be sold to the Milwaukee
Regional Medical Center (MRMC), state energy regulators have decided. MRMC plans to burn natural gas instead
of coal, helping it use a cleaner energy source to heat and cool the medical complex buildings, including Children’s
Hospital of Wisconsin and Froedtert Hospital. A purchase price is not being disclosed. The power plant, which sits
on a 15-acre site north of Watertown Plank Road, was built in 1955 and was originally owned by Milwaukee County.
Wisconsin Electric, now doing business as We Energies, bought it in 1996.

SETTLEMENT REACHED…

IN ALLIANT ENERGY’S RIVERSIDE ENERGY CENTER CASE

Alliant Energy’s plans to build a combined cycle natural gas-fueled generating facility near Beloit, WI, took a major
step forward as the company reached settlement with two key intervenors in the case, We Energies and Wisconsin
Public Service Corporation. The agreement creates mutual opportunities for the parties to invest in joint-ownership
generation projects and contemplates a joint-development agreement for renewable resources among other items.
Alliant Energy has filed the agreement on the Public Service Commission of Wisconsin’s (PSCW) website in docket no.
6680-CE-176.

“We’ve been able to work cooperatively with our neighboring utilities to find a solution that makes sense for energy
customers across Wisconsin,” said Patricia Kampling, Alliant Energy Chairman, President and CEO. “Along with
the modernized Riverside Energy Center, we believe this agreement will help control energy costs for Wisconsin
customers for years to come.”

Alliant Energy filed for regulatory approval of the proposed 650 megawatt natural gas-fueled plant with the PSCW in
May 2015. Technical hearings before the PSCW began December 21, 2015.

Lower Fuel Costs Could Offset We Energies Price Increase

Lower natural gas and coal costs could offset most of a small price hike that is set to hit electricity bills of We Energies customers next year. The utility has filed an application with the Public Service Commission to reduce by more than $17 million the amount it wants to spend for fuel burned in its power plants.
Lower natural gas prices are expected compared with this year, and lower costs to deliver coal by train to Wisconsin are now expected. In addition, the utility is forecasting $8 million in savings because more of the coal burned at its new power plant in Oak Creek will be less-costly coal mined in Wyoming, he said.
The plant was designed to burn coal mined in the eastern United States, but the utility is testing the ability of the plant to burn more western coal. Those reductions offset several increases in costs that the utility is expecting, including $4 million in higher costs to buy power from the Point Beach nuclear plant and higher costs of chemicals used in air pollution control equipment at coal-fired power plants. The fuel-cost savings would amount to 51 cents a month for a typical customer now paying $101.72 a month, according to We Energies.

Wisconsin Energy Receives Final Approval for Acquisition

Wisconsin Energy Corporation’s acquisition of Integrys
Energy Group has now received approval from the Illinois
Commerce Commission, the final step needed to complete
the $9.1 billion transaction. The acquisition will expand
Wisconsin Energy’s service territory into Illinois and
Minnesota and gas service into Michigan.

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