The Illinois Commerce Commission has approved the three-way merger of WPL Holdings, IES Industries, and Interstate Power Co. to form Interstate Energy Corp.
The commission agreed that the public will benefit from the cost savings produced by the merger. The companies predict savings of about $750 million for the first 10 years after the merger. The Minnesota Public Utilities Commission granted merger approval on March 24. The Federal Energy Regulatory Commission concluded hearings in May and had yet to rule at press time.