Wisconsin Energy Corp was incorporated in the State of Wisconsin in 1981 and became a holding company in 1986. The Company conducts its operations mainly in two operating segments: a utility energy segment and a non-utility energy segment. Its utility energy segment consists of Wisconsin Electric and Wisconsin Gas, operating together under the trade name of " We Energies." We Energies serve approximately 1,133,600 electric customers in Wisconsin and the Upper Peninsula of Michigan. We Energies serves approximately 1,089,000 gas customers in Wisconsin and approximately 440 steam customers in metropolitan Milwaukee, Wisconsin. . The Company's non-utility energy segment consists mainly of We Power, which owns and leases to Wisconsin Electric generation plants constructed as part of its PTF strategy. All four of the plants constructed as part of PTF have been placed in service. Port Washington Generating Station Unit 1 (PWGS 1) and Port Washington Generating Station Unit 2 (PWGS 2) are being leased to Wisconsin Electric under long-term leases that run for 25 years. Oak Creek expansion Unit 1 (OC 1) and Oak Creek expansion Unit 2 (OC 2) are being leased to Wisconsin Electric under long-term leases that run for 30 years. It provides electric utility service to customers in industries such as mining, paper, foundry, food products and machinery production, as well as to large retail chains. The Companies retail electric customers are two iron ore mines located in the Upper Peninsula of Michigan. Its wholesale electric energy sales were also made to eight other public utilities and power marketers throughout the region under rates approved by FERC. The Company compete with other utilities for sales to municipalities and cooperatives. It also also compete with other utilities and marketers in the wholesale electric business.