Monday, Integrys Energy Group Inc. (TEG) announced that Integrys Energy Services of Canada Corp., a subsidiary of its nonregulated subsidiary, Integrys Energy Services Inc., closed its transaction to sell nearly all of its Canadian natural gas and electric power contract portfolio to Shell Energy North America Inc. These customer contracts will be integrated into Shell Energy's existing natural gas and power portfolio, effective October 1, 2009, the company added.
In a separate transaction, Integrys Energy Services of Canada Corp. said it completed the sale of its 2-bcf natural gas storage contract to TransCanada Gas Storage Partnership, a subsidiary of TransCanada Corp.
With these 2 transactions, Integrys Energy Services exited electric and natural gas marketing in all provinces in Canada, leaving only the New Brunswick-based power generation and associated electricity production. As a result of the closing of these 2 transactions, Integrys Energy Group's collateral support requirements are expected to be reduced by about $300 million by year-end 2009, the company noted.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.