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Business Description of WISCONSIN ENERGY

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Wisconsin Energy Corporation (WEC) is engaged in providing electric and natural gas services to customers across Wisconsin and the Upper Peninsula of Michigan in the US. The company’s primary subsidiaries include Wisconsin Electric Power Company (Wisconsin Electric), Wisconsin Gas, formerly Wisconsin Gas Company (Wisconsin Gas), and WE Power (We Power).

The company operates through two operating segments: utility energy and non utility energy.

The utility energy segment primarily includes the company’s electric and natural gas utility operations. The electric utility operation engages in the generation, distribution and sale of electric energy in southeastern (including metropolitan Milwaukee), east central and northern Wisconsin and in the Upper Peninsula of Michigan. Its natural gas utility operation is engaged in the purchase, distribution and sale of natural gas to retail customers and the transportation of customer-owned natural gas throughout Wisconsin. Steam utility operation is engaged in the generation, distribution and sale of steam, supplied by the company’s Valley and Milwaukee County Power Plants.

The segment consists of Wisconsin Electric, Wisconsin Gas and Edison Sault Electric Company. Wisconsin Electric serves approximately 1,092,400 electric customers in Wisconsin and the Upper Peninsula of Michigan, approximately 446,400 gas customers in Wisconsin and approximately 460 steam customers in metro Milwaukee, Wisconsin. Wisconsin Gas serves approximately 583,300 gas customers in Wisconsin and approximately 2,800 water customers in suburban Milwaukee, Wisconsin. Wisconsin Electric and Wisconsin Gas operate under the trade name of “We Energies”. Edison Sault Electric Company (Edison Sault) serves approximately 22,900 electric customers in the Upper Peninsula of Michigan.

As of December 2005, the company’s net generation totaled 28.2 million megawatt hours. The company’s coal fired generation consists of six operating plants with a dependable capability of approximately 3,334 megawatts. Nuclear generation is carried out through Point Beach Nuclear Plant, which is operated by Nuclear Management Company (NMC), with 1,036 megawatts of dependable capability. Wisconsin Electric’s hydroelectric generating system consists of thirteen operating plants with a total installed capacity of approximately 88 megawatts and a dependable capability of approximately 57 megawatts. The natural gas-fired generation consists of four operating plants with a dependable capability of approximately 888 megawatts.

The company’s non-utility energy segment derives its revenues primarily from the ownership of electric power generating facilities for long-term lease to Wisconsin Electric and economic interests in other energy-related entities. Through its non utility subsidiaries, WE Power, Minergy Corporation, Wispark and Wisvest Corporation, the company is involved in energy development, recycling and renewable energy, and real estate development.