MADISON, WI (WTAQ) – Wisconsin utility regulators have given their final approval to the proposed acquisition of the Integrys Energy Group by the parent firm of We Energies.
That leaves only Illinois and Minnesota to decide on the proposed $9.1 billion merger of Wisconsin Energy, and the four-state utility company that owns Wisconsin Public Service.
This week, regulators in Illinois rejected calls to delay the sale of Integrys in order to further investigate various matters involving the replacement of a natural gas main in Chicago.
A consultant to the Illinois Commerce Commission said the project has suffered due to long delays, mismanagement, and rising costs.
The total cost was projected to be $2.6 billion back in 2009. But officials said it skyrocketed to almost $4.5 billion in 2012 — and is most likely much higher today.
Wisconsin Energy has said it would put in new management of the Peoples Gas Company and the Chicago project, and follow the consultant’s recommendations for getting it done.
(Story courtesy of Wheeler News Service)
