CONTACT: Michael W. Welch, Media Relations of WPS Energy Services, Inc.,
+1-920-617-6044
BUFFALO, N.Y., July 1 — WPS Energy Services, Inc., a subsidiary of WPS Resources Corporation (NYSE:WPS) , announced today that it completed the acquisition of Advantage Energy, Inc. Prior to the sale, Advantage Energy was a privately held nonregulated electric power marketer based in Buffalo, New York. Advantage Energy Inc. serves 8,200 residential and commercial customers, exclusively in the New York market, with a peak annual load of 275 megawatts. Advantage Energy, Inc. will continue to operate as a separate subsidiary of WPS Energy Services and maintain its own brand. WPS Energy Services will operate out of Advantage offices in Buffalo and Westfield, New York.
Mark A. Radtke, President of WPS Energy Services, said, “Throughout the acquisition process, we were repeatedly impressed with the quality of service that Advantage Energy provides to its customers. Customer service is critically important to WPS Energy Services, and is a primary reason we have consistently received some of the top customer satisfaction ratings in the annual, independent Mastio & Company Customer Satisfaction and Value Study.” Radtke added, “We look forward to working with the Advantage Energy staff to grow its New York customer base.”
Kyle Storie, the founder of Advantage Energy, said, “We are happy to become part of the WPS Energy Services team. We are already adding more service options for our current electric customers, including fixed price offerings. The New York generation assets, owned and operated by WPS Energy Service’s sister company, WPS Power Development, Inc., will enhance the reliability and value we bring to our customers. In the near future, we expect to begin offering natural gas services to our customers, as well.” Storie added, “The conservative nature and financial strength of our new organization will serve our customers well.”
Navigant Consulting, Inc., (NYSE:NCI) served as principal financial advisor to WPS Energy Services in this transaction. More information about Navigant Consulting can be found at http://www.navigantconsulting.com/ . For more information on WPS Energy Services, visit http://www.wpsenergy.com/ .
