Macquarie acquires Integrys electric business

Houston-based Macquarie Cook Power will acquire “substantially all” of the wholesale electric marketing and trading portfolio of Wisconsin-based Integrys Energy Services. The deal will double the customer base and scale of Macquarie Cook Power’s existing power trading business the company said in a release.
The Integrys portfolio includes various power transactions, products and trading positions, including physical forwards, financial transmission rights and derivatives. The portfolio had an annual average total gross volume of more than 125 million megawatt-hours over the past 3 years.
Macquarie Cook Power operates alongside Macquarie Cook Energy, the firm’s North American natural gas trading affiliate with average trading volumes of circa 11 billion cubic feet (bcf) per day.
Nicholas O’Kane, Executive Director and Global Head of Macquarie’s Energy Markets Division, said the Integrys deal with have those operation integrated into the existing business much the way Macquarie integrated Constellation Energy
Group’s downstream natural gas trading business
earlier this year.