PSC approves We Energies' acquisition of Integrys

The state Public Service Commission on Thursday issued written approval of the acquisition of Integrys Energy Group of Chicago by Wisconsin Energy Corp. of Milwaukee. Integrys is the parent company of Wisconsin Public Service Corp. of Green Bay.

The $9.1 billion deal was previously approved by federal and Michigan regulators and shareholders of each company. It requires approval by regulators in Illinois and Minnesota. Integrys owns natural gas distribution companies in each of those states.

The PSC in April indicated it would approve the deal with provisions, including an agreement by Wisconsin Public Service Corp. to withdraw application for a new $517 million natural gas-fired power plant at the Fox Energy Center in Wrightstown.

If all regulatory approvals are received, the transaction is anticipated by the end of summer.

Wisconsin Public Service Corp. is the provider of electricity and natural gas for most residents in Northeastern and north-central Wisconsin. We Energies, owned by Wisconsin Energy Group, provides electricity to southeastern Wisconsin, the Fox Valley and much of Michigan's Upper Peninsula, and natural gas to a wide range of regions throughout the state.