United States: Alliant Energy Sells Energy Management Business
Alliant Energy Corp. (Madison, Wisconsin) has successfully completed the sale of substantially all of the major contracts held by its energy management services (EMS) business to WPS Energy Services Inc., a subsidiary of WPS Resources Corp. (Green Bay, Wisconsin). The EMS business had offices in Wisconsin, Minnesota and Florida, and was part of Alliant Energy Resources Inc.'s (AER) Integrated Services Co. (ISCO) business platform. AER is the parent company of Alliant Energy's non-regulated businesses. The terms of the sale were not disclosed.
Citing continued efforts to narrow its strategic focus to primarily domestic utility operations, Alliant Energy announced in July its plans to divest certain ISCO businesses, including its energy management services business, its energy services business (Cogenex Corp.) and NG Energy Trading, which was sold on Sept. 1, 2004. “We are pleased with this sale,” said Bill Harvey, Alliant Energy president and COO. “It is yet another example of Alliant Energy's efforts to continue to narrow its business scope and concentrate on those opportunities now available to us in our core domestic utility operations.”
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