CHICAGO (AP) — An Illinois watchdog group says it will carefully review Wisconsin Energy Corp.’s proposed purchase of Integrys Energy Group Inc., the parent company of Peoples Gas and North Shore Gas.
The deal was announced Monday and is subject to approval by regulators and company shareholders.
Officials at the watchdog Citizens Utility Board in Illinois say they want to make sure it’s a good arrangement for utility customers. They say they’ll make suggestions if they find shortcomings.
CUB Executive Director David Kolata says in a statement he wants to make sure the purchase doesn’t lead to more frequent rate hikes.
The deal would create a combined company called WEC Energy Group Inc., which would serve more than 4.3 million total gas and electric customers across Wisconsin, Illinois, Michigan and Minnesota.