Who Owns Upper Michigan Energy Resources?
Upper Michigan Energy Resources is owned by WEC Energy Group, Inc. (NYSE: WEC), a publicly traded utility holding company headquartered in Milwaukee, Wisconsin. Formed on January 1, 2017, it took over the Upper Peninsula customers formerly served by We Energies and Wisconsin Public Service and now delivers electricity and natural gas to about 43,000 customers from offices in Menominee and Iron Mountain.
Parent Company
Founded
2017
Status
Publicly Traded
Headquarters
Upper Michigan Energy Resources Timeline
United StatesOfficial Website
Who Owns Upper Michigan Energy Resources?
- Parent Company: WEC Energy Group, Inc.
- Ownership Type: Wholly owned
- Company Type: Publicly Traded
- Stock Ticker: New York Stock Exchange: WEC
| Brand | Parent Company | Ownership Type |
|---|---|---|
| Upper Michigan Energy Resources | WEC Energy Group, Inc. | Wholly owned |
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History of Upper Michigan Energy Resources
- Founded: 2017
- Founders: WEC Energy Group (regulatory settlement)
UMERC's creation resolved a reliability and governance problem. In 2014 mine operator Cliffs Natural Resources switched power suppliers, removing most of the demand from the Presque Isle coal plant in Marquette and forcing WEC to plan its retirement. That left the Upper Peninsula without a clear power supply and raised questions about who should regulate service in the region.
Stakeholders negotiated a 2016 settlement: Presque Isle would retire, two new gas-fired generating stations would be built in the UP, and a new Michigan-regulated utility would serve the territory. The MPSC approved the settlement in December 2016 and UMERC began operating January 1, 2017.
The new F.A. Lee Peacock and A.J. Mihm generating stations came online in 2019, giving the UP locally based dispatchable generation for the first time in decades. UMERC now operates under Michigan's clean energy law, which requires 80 percent clean energy by 2035 and 100 percent by 2040.
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About WEC Energy Group, Inc.
Is WEC Energy Group publicly traded?
Yes. It trades on the New York Stock Exchange under the ticker WEC and is a member of the S&P 500.
What is the difference between WEC Energy Group and We Energies?
WEC Energy Group is the parent holding company. We Energies is its largest operating utility, the trade name of Wisconsin Electric Power Company and Wisconsin Gas LLC.
How many customers does WEC Energy Group serve?
About 4.8 million electric and natural gas customers across Wisconsin, Illinois, Michigan, and Minnesota.
Who is the CEO of WEC Energy Group?
Scott Lauber. He became president and CEO in February 2022 and was named chairman of the board in May 2026.
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Does WEC Energy Group still use coal?
Yes, but on a declining basis. It expects to use coal only as a backup fuel by the end of 2030 and to eliminate coal by the end of 2032.
When was WEC Energy Group formed?
The holding company was incorporated in 1981 as Wisconsin Energy Corporation and renamed WEC Energy Group in 2015 after acquiring Integrys Energy Group.
- Founded: 1981
- Headquarters: Milwaukee, Wisconsin, USA
- Company Type: Publicly Traded
- Stock: New York Stock Exchange: WEC
- Revenue: Approximately $9.8 billion (FY2025)
- Employees: Approximately 7,000
Where Is Upper Michigan Energy Resources Made / Based?
- Headquarters: Menominee, Michigan, USA
Upper Michigan Energy Resources Categories & Tags
Brands Owned by WEC Energy Group, Inc.
Energy UtilitiesMichigan Gas Utilities
Owned by WEC Energy Group, Inc.
Natural gas utility serving nearly 188,000 customers in southern Michigan, a subsidiary of WEC Energy Group headquartered in Monroe, Michigan.
utilitiesnatural-gasmichigan
Energy UtilitiesMinnesota Energy Resources
Owned by WEC Energy Group, Inc.
Natural gas utility delivering service to more than 256,000 customers across 179 Minnesota communities, a subsidiary of WEC Energy Group.
utilitiesnatural-gasminnesota
Energy UtilitiesNorth Shore Gas
Owned by WEC Energy Group, Inc.
Natural gas utility serving approximately 166,000 customers in Chicago's northern suburbs, a sister company of Peoples Gas under WEC Energy Group.
utilitiesnatural-gaschicago-suburbs
Energy UtilitiesPeoples Gas
Owned by WEC Energy Group, Inc.
Chicago's natural gas utility, delivering gas to approximately 898,000 city customers as a subsidiary of WEC Energy Group.
utilitiesnatural-gaschicago
Energy UtilitiesWe Energies
Owned by WEC Energy Group, Inc.
Wisconsin's largest electric and natural gas utility, serving more than 2.3 million customers and operating as the flagship utility brand of WEC Energy Group.
utilitieselectricitynatural-gas
Energy UtilitiesWEC Energy Group
Owned by WEC Energy Group, Inc.
The corporate brand of WEC Energy Group, the Milwaukee utility holding company behind We Energies, Wisconsin Public Service, Peoples Gas, and four other Midwest utilities.
utilitiesenergynatural-gas
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Upper Michigan Energy Resources Ownership: Pros & Cons
Advantages
- +Locally based generation improves UP reliability
- +Michigan-only jurisdiction aligns regulator and utility
- +Backed by the full resources of WEC Energy Group
Considerations
- -Very small customer base over a large territory
- -High per-customer infrastructure costs
- -Clean energy mandates require new investment in a remote region
Frequently Asked Questions About Upper Michigan Energy Resources
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Competitors to Upper Michigan Energy Resources
These competing brands operate in the same categories and provide similar products or services. Compare key attributes to understand market positioning and competitive landscape.
| Brand | Parent Company | Country | Founded | Market Position | Primary Market | Gender Target |
|---|---|---|---|---|---|---|
| Iberdrola | USA | 2015 | Mass market | United states | Unisex | |
| Exelon | USA | 1816 | Mass market | United states | All-ages | |
| Cms Energy | USA | 1987 | Mass market | United states | All-ages | |
| Cms Energy | USA | 1886 | Mass market | United states | All Genders | |
| Exelon | United States | 1909 | Mass market | United states | All Genders | |
| Dte Energy | USA | 1903 | Mass market | United states | All Genders |
Learn More About Competitors
Energy UtilitiesAvangrid
Owned by Iberdrola
US-based energy company providing electricity and natural gas services to millions of customers across multiple states, owned by Spanish utility Iberdrola.
energyelectricitynatural-gas
Energy UtilitiesBaltimore Gas and Electric
Owned by Exelon Corporation
Maryland-based electric and natural gas utility founded in 1816 and owned by Exelon Corporation. BGE serves over 1.25 million electric customers and 650,000 natural gas customers across central Maryland.
electricitynatural-gasutilities
Energy UtilitiesCMS Energy
Owned by CMS Energy
American energy company providing electricity and natural gas utility services to Michigan residents through Consumers Energy subsidiary.
energy-utilityelectricitynatural-gas
Energy UtilitiesConsumers Energy
Owned by CMS Energy
The principal utility subsidiary of CMS Energy, serving 1.9 million electric and 1.8 million natural gas customers across Michigan.
utilityelectricitynatural-gas
Energy UtilitiesDelmarva Power
Owned by Exelon Corporation
Delaware and Maryland-based electric and natural gas utility company serving approximately 515,000 electric and 130,000 natural gas customers, owned by Exelon Corporation.
electricitynatural-gasutilities
Energy UtilitiesDTE Electric
Owned by DTE Energy Company
Michigan-based electric utility company serving millions of customers in Southeast Michigan and the thumb region, owned by DTE Energy Company.
electricityutilitiesmichigan
Competitive Analysis
Market Positioning: Upper Michigan Energy Resources competes with 6 brands in the same categories, ranging from mass market to luxury positioning.
Geographic Distribution: Competitors are headquartered across multiple regions, indicating global competition in this market segment.
Brand Heritage: Competitor brands range from established heritage brands to newer market entrants, with founding years spanning several decades.
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Independent Alternatives to Upper Michigan Energy Resources
Looking for brands with different ownership structures? These similar brands are not owned by WEC Energy Group, Inc., giving you alternative choices that support different corporate structures.
Energy UtilitiesAdani Power
Owned by Adani Group
India's largest private thermal power producer, operating approximately 17,550 megawatts of installed capacity across eight states, listed on NSE and BSE.
power-generationenergythermal-power
Privately Owned
Adani Power is privately owned, unlike Upper Michigan Energy Resources which is under a publicly traded parent company.
Energy UtilitiesCMS Energy
Owned by CMS Energy
American energy company providing electricity and natural gas utility services to Michigan residents through Consumers Energy subsidiary.
energy-utilityelectricitynatural-gas
Publicly Traded
CMS Energy operates independently without a large parent corporation.
Energy UtilitiesDTE Energy
Owned by DTE Energy Company
Master brand of DTE Energy Company, the Detroit-based NYSE-listed utility serving millions of Michigan customers through DTE Electric and DTE Gas.
utilityelectricitynatural-gas
Publicly Traded
DTE Energy operates independently without a large parent corporation.
Energy UtilitiesAdani Green Energy
Owned by Adani Group
Adani Green Energy Limited (AGEL) is India's largest renewable energy company by installed capacity, listed on the National Stock Exchange and BSE. It develops, builds, and operates solar and wind power plants across India.
renewable-energysolarwind
Privately Owned
Adani Green Energy is privately owned, unlike Upper Michigan Energy Resources which is under a publicly traded parent company.
Energy UtilitiesCenex
Owned by CHS Inc.
American fuel, lubricant, and convenience store brand owned by CHS Inc., the nation's largest farmer-owned cooperative, operating roughly 1,400 locations across 19 states.
fuelgas-stationsconvenience-stores
Privately Owned
Cenex is privately owned, unlike Upper Michigan Energy Resources which is under a publicly traded parent company.
Energy UtilitiesCon Edison
Owned by Consolidated Edison, Inc.
Consumer-facing brand of Consolidated Edison, Inc., the regulated utility delivering electricity, gas, and steam to New York City and Westchester County.
utilityelectricitynatural-gas
Publicly Traded
Con Edison operates independently without a large parent corporation.
WEC Energy Group, Inc. Stock Information
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Jobs at WEC Energy Group, Inc.
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