WBAY-TV Green Bay-Fox Cities-Northeast Wisconsin News: Cloverland buying Edison Sault Electric Co.
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Associated Press - October 29, 2009 11:05 AM ET
SAULT STE. MARIE, Mich. (AP) - Cloverland Electric Cooperative says it has reached a deal to buy Edison Sault Electric Co. from Wisconsin Energy Corp.
If co-op members and regulators approve, the transaction should be complete by mid-2010.
In a statement Thursday, Cloverland and Edison Sault said their merger would serve about 42,000 customers in the eastern Upper Peninsula and rougly double the size of the co-op.
They said it would boost Cloverland's efficiency and preserve local control of resources including the Edison Sault hydroelectric plant in Sault Ste. Marie.
The two providers currently serve overlapping territories.
Dafter-based Cloverland provides electricity to about 19,500 homes and businesses in Chippewa, Mackinac, Luce and Schoolcraft counties.
Milwaukee-based Wisconsin Energy owns Edison Sault and We Energies.
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