SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* VERBANAC DANIEL J (Last) (First) (Middle) 700 NORTH ADAMS STREET P. O. BOX 19001 (Street) GREEN BAY WI 543079001 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol WPS RESOURCES CORP [ WPS ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director 10% Owner X Officer (give title below) Other (specify below) Chief Oper Off, WPS ESI, a sub
	3. Date of Earliest Transaction (Month/Day/Year) 02/03/2005
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	02/03/2005		M		2,500	A	$34.09	2,500	D
Common Stock	02/03/2005		S		2,500	D	$50.75	0.0000	D
Common Stock	02/04/2005		M		2,500	A	$34.09	2,500	D
Common Stock	02/04/2005		S		2,500	D	$51.25	0.0000	D
Common Stock								2,274.3158	I	By ESOP

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Employee Stock Option (Right to buy)	$34.09(1)	02/03/2005		M			2,500	12/13/2002	12/13/2011	Common Stock	2,500	$50.75	5,684	D
Employee Stock Option (Right to buy)	$34.09(1)	02/04/2005		M			2,500	12/13/2002	12/13/2011	Common Stock	2,500	$51.25	3,184	D
Employee Stock Option (Right to buy)	$34.75(2)							12/14/2001	12/14/2010	Common Stock	5,375		5,375	D
Employee Stock Option (Right to buy)	$37.96(3)							12/12/2003	12/12/2012	Common Stock	12,454		12,454	D
Employee Stock Option (Right to buy)	$44.73(4)							12/10/2004	12/10/2013	Common Stock	13,451		13,451	D
Employee Stock Option (Right to Buy)	$48.11(5)							12/08/2005	12/08/2014	Common Stock	15,313		15,313	D
Performance Rights	$0.0000(6)							01/01/2005(6)	06/30/2005	Common Stock	1,791		1,791	D
Performance Rights	$0.0000(6)							01/01/2006(6)	06/30/2006	Common Stock	1,631		1,631	D
Performance Rights	$0.0000(6)							01/01/2007(6)	06/30/2007	Common Stock	1,813		1,813	D
Performance Rights	$0.0000(6)							01/01/2008(6)	06/30/2008	Common Stock	1,782		1,782	D
Phantom Stock Unit	$0.0000(7)							(8)	(8)	Common Stock	8,138.1795		8,138.1795	D

Explanation of Responses:

1. The option vests in four equal annual installments beginning on December 13, 2002.

2. The option vests in four equal annual installments beginning on December 14, 2001.

3. The option vests in four equal annual installments beginning on December 12, 2003.

4. The option vests in four equal annual installments beginning on December 10, 2004.

5. The option vests in four equal annual installments beginning on December 8, 2005.

6. Performance shares vest and are issued three years after the performance shares are awarded and the final number of shares issued is determined based on company performance against an established industry benchmark.

7. These phantom stock units convert to common stock on a one-for-one basis.

8. Unless the participant has selected a later commencement date, distribution of stock and equivalents will commence within 60 days following the end of the calendar year in which occurs the participant's retirement or termination of service.

Remarks:

	By: Barth J. Wolf (See POA filed February 2004)	02/07/2005
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
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