Integrys Approved for $220 Million Modernization Project
Jul 20th 2013 7:05AM
Updated Jul 20th 2013 7:08AM
Integrys Energy has officially received regulatory approval for a $220 million modernization project for its Wisconsin Public Service subsidiary. After completing a pilot project in 2012, the utility developed plans for a five-year large scale project to start in 2014.
Integrys will add on 1,000 miles of overhead distribution lines, as well as 400 miles of distribution automation equipment. According to Wisconsin Public Service Vice President of Energy Delivery Vern Peterson, the primary reason for the project stems from extended outages for some of its customers:
In the affected areas, electric reliability is significantly lower than state and national averages. The areas we will target are those in which customers are repeatedly faced with the loss of power due to storms -- sometimes for several days. When [the project] is complete, these customers will see a level of reliability closer to levels that customers in the rest of the company's service territory already experience.
The regulatory approval will add on approximately $5 per month to an average residential customer's bill. Wisconsin Public Service currently caters to around 443,000 electric customers. Construction is expected to be completed in 2019.
The article Integrys Approved for $220 Million Modernization Project originally appeared on Fool.com.Fool contributor Justin Loiseau has no position in any stocks mentioned, but he does use electricity. You can follow him on Twitter, @TMFJLo, and on Motley Fool CAPS, @TMFJLo. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.