Integrys Energy Group, Inc. at a Glance

Uppers

  • Fair pay, decent benefits.
  • 40-hour workweeks.

Downers

  • Office politics.
  • Not a lot of love for upper management.

The Bottom Line

  • Integrys Energy Group is a stable company in a stable industry, and employees say that gives them peace.

About Integrys Energy Group, Inc.

Integrys Energy integrates energy activities in the Windy City and surrounding areas. The energy holding company owns six regulated utilities: Michigan Gas Utilities Corp. (169,000 gas customers), Minnesota Energy Resources Corp. (216,000 gas customers), North Shore Gas Company (159,000 customers in northern Chicago), Peoples Gas Light and Coke Company (831,000 natural gas customers in Chicago), Wisconsin Public Service (445,000 electric customers and 323,000 natural gas customers in Wisconsin and Michigan), and Upper Peninsula Power (52,000 electricity customers). The company was acquired by Wisconsin Energy Corporation (now WEC) in 2015.

Geographic Reach

The company has natural gas assets in Illinois, Michigan, Minnesota, and Wisconsin.

Operations

Integrys Energy operates in a handful of business segments: Natural gas utility; electric utility; and a 34% stake in American Transmission Company (ATC, an electric transmission firm which operates in Illinois, Michigan, Minnesota, and Wisconsin).

The company's nonregulated subsidiary,  Integrys Energy Services, (sold to Constellation in 2014) provided retail energy supply and services.

Financial Performance

In 2013 the company’s revenues increased by 34% due to 26% higher natural gas utility revenues as a result of an increase in sales volume and a 78% increase in Integrys Energy Services revenues (due to higher retail sales volumes), and the Compass Energy Services acquisition.

Integrys Energy's net income increased by 25% in 2013 thanks to higher revenues and operating income.

In 2013 the company’s operating cash inflow decreased to $555 million (from $569 million in 2012) due to a change in working capital as a result of an increase in cash used for accounts receivable and accrued unbilled revenues.

Strategy

The company is seeking to balance growing its our core regulated businesses with developing nonregulated energy services businesses with a high growth potential. In this regard the company is eyeing the growth of the compressed natural gas (CNG) market as more companies and government agencies expand their natural gas vehicle fleets.

In 2014 Trillium CNG opened the first public access Class-8 accessible compressed natural gas fueling station at the E-Z Mart Convenience Store and Truck Stop located at 338 Highway 594 in Monroe, Louisiana. (Earlier, in 2012 Integrys Energy subsidiary Trillium USA announced a joint venture with AMP Americas called AMP Trillium to build CNG stations along the I-65 and I-75 trucking corridors and major routes in Texas).

Streamlining its portfolio, in 2014 it sold Integrys Energy Services (a diversified nonregulated retail energy supply and services company that sells electricity and natural gas in deregulated markets and invests in renewable energy assets) to Constellation.

Mergers and Acquisitions

Growing its footprint, in 2013 the company's Integrys Energy Services unit acquired Compass Energy Services, a non-regulated retail natural gas business which supplies commercial and industrial customers in the Mid Atlantic and Ohio regions.

Company Background

In 2011 Integrys Energy moved into the CNG fueling business through the acquisition of Pinnacle CNG Systems and Trillium USA for an undisclosed price.

In order to reduce its debt, and refocus on lower-risk regulated operations, the company has steadily sold its non-regulated segment (formerly the largest contributor to total revenues). In 2009 the company sold Integrys Energy Services' non-retail energy services operations to U.S. Energy Services (based in Minneapolis). In 2009 and 2010 it also sold that unit's wholesale natural gas and electric marketing and Canadian energy marketing businesses. Integrys Energy Services has narrowed its focus to retail accounts and renewable energy investments.

Integrys Energy took its current name after the 2007 acquisition of Peoples Energy for $1.5 billion.

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Integrys Energy Group, Inc.

200 E Randolph St #2200
Chicago, IL 60601-6433
Phone: 1 (312) 228-5400
www.integrysgroup.com

Stats

  • Employer Type: Public
  • Stock Symbol: TEG, IEH
  • Stock Exchange: NYSE, NYSE
  • Chairman and CEO: Charles A. Schrock
  • EVP and CFO: James F. Schott
  • Chairman and CEO: Charles A. Schrock

Major Office Locations

  • Chicago, IL

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