Wisconsin Hired Advisers for Power Plant Sale, Utility Says

Wisconsin has hired financial advisers and a broker for the potential sale of state-owned power and heating plants -- and Wisconsin Energy Corp. may bid for them.

It’s not known if or when the sale of the facilities that supply hospitals, university campuses and the state capitol will proceed, Wisconsin Energy Chief Executive Officer Gale Klappa said today on a conference call with investors. Milwaukee-based Wisconsin Energy has the expertise to run such plants, he added.

Wisconsin’s Department of Administration said in March it was compiling a list of properties to sell, part of an effort to reduce $13.7 billion in state debt. Calls to the agency today and to the office of Governor Scott Walker weren’t immediately returned.

Wisconsin Energy announced plans to buy Integrys Energy Group Inc., owner of utilities in Wisconsin and three other states, for $5.7 billion in June. The company will file for merger approvals next week, Klappa said.

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