Company Overview of Wisconsin Electric Power Company
Wisconsin Electric Power Company operates as an electric, natural gas, and steam utility company in the United States. It operates in three segments: Electric Utility, Natural Gas Utility, and Steam Utility. The Electric Utility segment generates and distributes electricity in southeastern, east central, and northern Wisconsin, as well as in the Upper Peninsula of Michigan. It generates electricity through coal, wind, natural gas, hydroelectric, and natural gas/oil power generation facilities. The Gas Utility segment provides retail gas distribution service to residential, commercial, and industrial customers in west and south of the City of Milwaukee, the Appleton area, and the areas within...
231 West Michigan Street
Milwaukee, WI 53203
Founded in 1896
Key Executives for Wisconsin Electric Power Company
Chief Financial Officer and Executive Vice President
Senior Vice President of External Affairs
Principal Accounting Officer
Compensation as of Fiscal Year 2013.
Wisconsin Electric Power Company Key Developments
Michigan Public Service Commission Issues Order Regarding Complaint of Verso Paper Corp. Against Wisconsin Electric Power Company Concerning Delaying Migration to Retail Access Service
Oct 17 13
Michigan Public Service Commission Issues Order Regarding Complaint of Verso Paper Corp. Against Wisconsin Electric Power Company Concerning Delaying Migration to Retail Access Service. On August 26, 2013, Verso Paper Corp. filed a complaint alleging that Wisconsin Electric Power Company unreasonably delayed Verso's request to migrate to retail access service. Verso filed a revised complaint on September 10, 2013, adding omitted exhibits. Subsequently, on October 11, 2013, the parties filed a settlement agreement resolving all issues in the case. According to the terms of the settlement agreement, the parties agree that Verso's request to switch to retail access service will be effective as of 12:01 a.m. on November 1, 2013. The parties also agree that, following Commission approval of the settlement agreement, the complaint will be dismissed with prejudice. The Commission finds that the settlement agreement is reasonable and in the public interest, and should be approved. THEREFORE, IT IS ORDERED that: The settlement agreement is approved; and The complaint of Verso Paper Corp. against Wisconsin Electric Power Company is dismissed with prejudice.
Wisconsin Electric Power Company Declares Quarterly Preferred Stock Dividend Payable on Dec. 1, 2013
Oct 17 13
The boards of directors of Wisconsin Electric Power Company has declared a quarterly dividend of 90 cents a share on the Preferred Stock, 3.60% Series, payable Dec. 1, 2013, to stockholders of record on Nov. 14, 2013. The board also declared a quarterly dividend of $1.50 a share on the 6% Preferred Stock payable Jan. 31, 2014, to stockholders of record on Jan. 14, 2014.
Wisconsin Electric Power Co. Agrees to Pay State $100,000 in Bluff Collapse
Jul 9 13
The Wisconsin Department of Justice said it obtained a $100,000 judgment from Wisconsin Electric Power Co. in an environmental lawsuit for violations during the company's construction of a retention pond at its Oak Creek power plant. The suit in Racine County Circuit Court alleged Wisconsin Electric, which is owned by Milwaukee-based Wisconsin Energy Corp. excavated waste materials and constructed a new retention pond in areas other than those originally approved by the Wisconsin Department of Natural Resources, failed to notify the DNR when grading of the project reached 50% completion and failed to revise its erosion control plans when the retention pond was moved. The $100,000 consists of the company reimbursing the DNR $53,397 for its costs of response, the Wisconsin Department of Justice $3,000 for its costs of prosecution and forfeitures and costs and surcharges totaling $43,602. The settlement will be paid by Wisconsin Energy shareholders. The case resulted from an Oct. 31, 2011, bluff collapse on the south end of the company's facility on Lake Michigan that released approximately 22,720 cubic yards of material, including coal ash, a small portion of which was discharged into Lake Michigan. The collapse also carried debris from the construction work site, including vehicles and heavy machinery down the bluff and into Lake Michigan. After the collapse, Wisconsin Electric took actions including placing containment devices and conducted a geo-technical analysis of the stability of the bluff. The company then excavated and removed material and debris that had been released as a result of the bluff collapse. The work was completed by late November 2011.
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