Upper Peninsula Power Company announced Thursday that the sale of the utility has been completed.
This sale marks the return of UPPCO to its roots of being a Michigan-headquartered energy company. All approvals have been completed for Balfour Beatty Infrastructure Partners to acquire UPPCO from Integrys Energy Group. UPPCO says the deal will bring about infrastructure improvements making energy more reliable, as well as new ways to cut costs, making energy more affordable to customers in the future.
UPPCO will be led by Barbara Siehr as Chief Executive Officer, Steve Manz as Chief Financial Officer, and Keith Moyle as Chief Operating Officer. Siehr and Manz are new to UPPCO, and bring over 50 years combined experience in utility and energy. Moyle has been with UPPCO since 2006 when he became their 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," says Siehr. "Together 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."
"We have a talented group of employees spread throughout ten counties of Michigan, and we're going to continue providing safe, reliable energy to our customers," says Moyle. "We're going to work on process improvements and look to cut costs where we can, and continue to stay involved in our communities."
Moyle also says UPPCO will continue developing projects like hydroelectricity to add renewable energy to their mix.
UPPCO became incorporated in 1947 when a merger took place between Houghton County Electric Light Company, Copper District Power Company and Iron Range Light and Power Company. UPPCO was acquired by Integrys Energy Group in 1998.
UPPCO's 123 employees serve approximately 52,000 electric retail customers in 10 of the Upper Peninsula's 15 counties.