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All of the air conditions across the state that have been running to keep people cool during this summer’s heat wave have benefitted Milwaukee-based Wisconsin Energy Corp.
The company today reported second quarter net income of $119.3 million, up 8.9 percent compared to the second quarter of 2011.
"Our second quarter performance was strengthened by energy demand from our residential and small commercial customers -- particularly during June when average temperatures across the region were well above normal," said Gale Klappa, chairman, president and chief executive officer. "While our large commercial and industrial sales were down, they were in line with our expectations.”
During the second quarter, residential use of electricity rose by 8.3 percent over last year's second quarter. Consumption of electricity by small commercial and industrial customers grew by 5 percent, while electricity use by large commercial and industrial customers dropped by 3.7 percent.
At the end of June, the company was serving approximately 2,800 more electric customers and 4,200 more natural gas customers than a year ago.
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