Milwaukee-based Wisconsin Energy Corp. today reported second quarter net income of $133.0 million, or 58 cents per share, up from $119.0 million, or 52 cents per share for the period a year ago.
Costs related to the acquisition of Integrys Energy reduced earnings by one cent per share in this year’s second quarter.
Wisconsin Energy’s second quarter revenues were $1.04 billion, up from $1.01 billion a year ago.
“With our continued focus on cost control, productivity and customer satisfaction, we delivered solid results in the second quarter despite a cool, rainy June that significantly reduced demand for air conditioning across the region,” said Gale Klappa, chairman and chief executive officer.
Residential use of electricity dropped by 3.8 percent from last year’s second quarter. Consumption of electricity by small commercial and industrial customers was down 2.1 percent. Electricity use by large commercial and industrial customers excluding the iron ore mines in Michigan’s Upper Peninsula was 2.1 percent higher.
On a weather-normal basis, retail consumption of electricity increased by 2.9 percent.
At the end of June 2014, the company was serving approximately 3,200 more electric customers and 6,400 more natural gas customers than a year ago.
