Sale of Upper Peninsula Power Company Completed

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Ishpeming, MI – Upper Peninsula Power Company announced today that the sale of the utility has been completed, marking a return of UPPCO to its original roots of being a Michigan-headquartered energy provider. All required regulatory approvals have been completed in order for Balfour Beatty Infrastructure Partners to acquire UPPCO from Integrys Energy Group.

The company will be led by Barbara Siehr, Chief Executive Officer, Steve Manz, Chief Financial Officer, and Keith Moyle, Chief Operating Officer. New to UPPCO, Siehr and Manz together bring with them more than 50 years of utility and energy experience. Moyle has been with UPPCO since 2006 when he became general manager.

"Our new leadership team is proud to be part of a tradition of delivering safe, reliable power to the many customers we are privileged to serve," said Siehr. "Together with our team of very talented and dedicated employees we look forward to building a new Upper Peninsula Power Company. We will also continue to be involved in the communities we serve."

Upper Peninsula Power Company became incorporated in 1947 through a merger involving three smaller electric companies – Houghton County Electric Light Company, Copper District Power Company and the Iron Range Light and Power Company. The Houghton County Electric Light Company commenced operations in approximately 1884; just five years after Edison’s incandescent light bulb put the practical use of electricity at the fingertips of the public. Upper Peninsula Power Company was acquired in 1998 by Integrys Energy Group.

"Upper Peninsula Power Company has a rich history," said Moyle. "We will continue our dedication to customer service and process improvements to help reduce costs. UPPCO will also continue to keep environmentally friendly energy in our generation mix including our hydroelectric projects that provide clean, renewable power and offer recreational opportunities to the public as well as contribute to the tax base. UPPCO will also keep up its ongoing communications with policymakers about the unique challenges and issues we face operating as a regulated utility in the Upper Peninsula."

About UPPCO

Upper Peninsula Power Company and its 123 employees serve approximately 52,000 electric retail customers. A regulated utility, the company’s service territory of 4,460 square miles covers 10 of the Upper Peninsula's 15 counties. Forest products, tourism and small manufacturing are the main industries served by UPPCO. The company's assets include seven hydroelectric generation facilities, 3,300 miles of electric distribution lines and 58 distribution substations.

News Source : Sale of Upper Peninsula Power Company Completed
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