Exelon buys Integrys Energy Services

SHARE Exelon buys Integrys Energy Services

Exelon Corp. has agreed to buy Integrys Energy Services Inc., the company that supplies electricity to Chicago residents.

The parent of ComEd will pay $60 million for the retail electric and gas business of Chicago-based Integrys Energy Group Inc. The Integrys division supplies about 1.2 million commercial, industrial, government and residential customers in 22 states in the Midwest, mid-Atlantic and Northeast regions. Exelon will add the company to its Constellation business group.

“Integrys Energy Services’ geographic footprint is a perfect strategic fit for Constellation and will create opportunities to reach more customers and grow the business, particularly in regions where Exelon also owns significant generation assets,” said Chris Crane, Exelon president and chief executive.

The companies expect to complete the sale during the fourth quarter of 2014 or first quarter of 2015.

The sale of is part of Integrys Energy Group’s preparations for its pending $9.1 billion combination with Wisconsin Energy Corp. announced in June.

The Latest
NBA
West, nicknamed “Mr. Clutch” for his late-game exploits as a player, went into the Hall of Fame as a player in 1980 and again as a member of the 1960 U.S. Olympic Team in 2010.
Brian Crowder, a former dean of students at the Greater Lawndale High School for Social Justice, entered a guilty plea Wednesday in a deal with prosecutors, only to ask for a continuance when he learned he would have to register as a sex offender for life.
Ogle County Sheriff Brian VanVickle said the deputies were shot while responding to a report that someone inside the home was threatening to kill themself or others. He said the suspect also was shot.
With a healthy humility and respect for DJ Moore and Keenan Allen, Odunze is chasing big numbers right now — not after some kind of transition year in the shadows.
Tommy Pham could come off the IL Thursday