City of Milwaukee - File #: 140506

• File #: 140506
• Version: 1
• Type: Resolution
• Status: Passed
• File created: 6/24/2014
• In control: PUBLIC WORKS COMMITTEE
• Final action: 9/23/2014
• Title: Substitute resolution directing various City departments to evaluate and report on the economic impact to the City of the proposed acquisition of Integrys Energy Group by Wisconsin Energy Corporation so that the City can determine whether to oppose the acquisition.
• Sponsors: ALD. BAUMAN
• Indexes: WE ENERGIES

Date	Ver.	Action By	Action	Result	Tally
10/2/2014	1	MAYOR	SIGNED
9/23/2014	1	COMMON COUNCIL	ADOPTED	Pass	15:0
9/10/2014	1	PUBLIC WORKS COMMITTEE	RECOMMENDED FOR ADOPTION; Minutes note: Individual appearing: Erick Shambarger - Department of Administration, Office of Environmental Sustainability	Pass	3:0
9/5/2014	1	PUBLIC WORKS COMMITTEE	HEARING NOTICES SENT
7/9/2014	1	PUBLIC WORKS COMMITTEE	HELD TO CALL OF THE CHAIR	Pass	5:0
7/2/2014	1	PUBLIC WORKS COMMITTEE	HEARING NOTICES SENT
7/2/2014	1	PUBLIC WORKS COMMITTEE	HEARING NOTICES SENT
6/24/2014	0	COMMON COUNCIL	ASSIGNED TO	Fail

Number
140506
Version
SUBSTITUTE 1
Reference

Sponsor
ALD. BAUMAN
Title
Substitute resolution directing various City departments to evaluate and report on the economic impact to the City of the proposed acquisition of Integrys Energy Group by Wisconsin Energy Corporation so that the City can determine whether to oppose the acquisition.
Analysis
This resolution directs the Department of Administration-Budget and Management Division and the Office of Environmental Sustainability, in conjunction with the City Attorney’s Office and the Department of Public Works, to evaluate and report on the economic impact to the City of the proposed acquisition of Integrys Energy Group by Wisconsin Energy Corporation so that the City can determine whether to oppose the acquisition.
Body

Whereas, On June 23, 2014, Milwaukee-based Wisconsin Energy Corporation announced that it has agreed to buy Integrys Energy Group, Inc., the Chicago-based parent company of Green Bay-based utility Wisconsin Public Service Corporation; and

Whereas, Wisconsin Energy Corporation officials stated that the acquisition will create a larger, more diverse Midwest electric and natural gas utility named WEC Energy Group, Inc.; and

Whereas, Wisconsin Energy Corporation operates WE Energies, which has utility operations serving more than 1.1 million electric customers in Wisconsin and Michigan’s Upper Peninsula, as well as 1.1 million natural gas customers in Wisconsin; and

Whereas, Integrys operates 5 utilities serving a 4-state area: Wisconsin Public Service, Peoples Gas, North Shore Gas, Minnesota Energy Resources and Michigan Gas Utilities; and

Whereas, The combined company is projected to have a regulated rate base of $16.8 billion in 2015, serve more than 4.3 million total gas and electric customers across Wisconsin, Illinois, Michigan and Minnesota, and operate nearly 71,000 miles of electric distribution lines and more than 44,000 miles of gas transmission and distribution lines; an...