MILWAUKEE (WTAQ) - The parent company of We Energies had its net income rise by 12 percent, despite cool weather that kept a lot of us from cranking up our air conditioners.
Wisconsin Energy of Milwaukee reports a net income of $133 million from April through June, up from $119 million the year before.
Stockholders had their earnings rise from 52 cents a share to 58. That's six cents higher than what outside analysts projected.
Wisconsin Energy cites cost controls for its growth in net income. CEO Gale Klappa said it came despite a cool and rainy June which significantly reduced demands for the high electric usage caused by air conditioning.
Large industrial and commercial users paid two percent more for their electricity than a year ago. Smaller business customers paid two percent less, and residential usage fell by almst 4 percent.
(Story courtesy of Wheeler News Service)