LONG-TERM DEBT (Tables)

12 Months Ended

Dec. 31, 2014

Debt Disclosure [Abstract]

Disclosure of long-term debt instruments

					December 31
(Millions)					2014			2013
WPS First Mortgage Bonds (1)
	Series		Year Due
	7.125	%	2023		$	0.1		$	0.1
WPS Senior Notes (1)
	Series		Year Due
	6.375	%	2015		125.0			125.0
	5.65	%	2017		125.0			125.0
	6.08	%	2028		50.0			50.0
	5.55	%	2036		125.0			125.0
	3.671	%	2042		300.0			300.0
	4.752	%	2044		450.0			450.0
PGL First and Refunding Mortgage Bonds (2)
	Series		Year Due
	QQ, 4.875%		2038	Mandatory interest reset date on November 1, 2018	—			75.0
	RR, 4.30%		2035	Mandatory interest reset date on June 1, 2016	50.0			50.0
	TT, 8.00%		2018		5.0			5.0
	UU, 4.63%		2019		75.0			75.0
	VV, 3.90%		2030		50.0			50.0
	WW, 2.625%		2033	Mandatory interest reset date on August 1, 2015	50.0			50.0
	XX, 2.21%		2016		50.0			50.0
	YY, 3.98%		2042		100.0			100.0
	ZZ, 4.00%		2033		50.0			50.0
	AAA, 3.96%		2043		220.0			220.0
	BBB, 4.21%		2044		200.0			—
NSG First Mortgage Bonds (3)
	Series		Year Due
	P, 3.43%		2027		28.0			28.0
	Q, 3.96%		2043		54.0			54.0
Integrys Energy Group Unsecured Senior Notes (4)
	Series		Year Due
	7.27	%	2014		—			100.0
	8.00	%	2016		55.0			55.0
	4.17	%	2020		250.0			250.0
Integrys Energy Group Unsecured Junior Subordinated Notes (5)
	Series		Year Due
	6.11	%	2066	Interest to become variable on December 1, 2016	269.8			269.8
	6.00	%	2073	Mandatory interest reset date on August 1, 2023	400.0			400.0
Total					3,081.9			3,056.9
Unamortized discount on debt					(0.6		)	(0.7		)
Total debt					3,081.3			3,056.2
Less current portion					125.0			100.0
Total long-term debt					$	2,956.3		$	2,956.2

⁽¹⁾  WPS's First Mortgage Bonds and Senior Notes are subject to the terms and conditions of WPS's First Mortgage Indenture dated January 1, 1941, as supplemented. Under the terms of the Indenture, substantially all property owned by WPS is pledged as collateral for these outstanding debt securities. All of these debt securities require semi-annual payments of interest. WPS Senior Notes become noncollateralized if WPS retires all of its outstanding First Mortgage Bonds and no new mortgage indenture is put in place.

In December 2015, our 6.375% Senior Notes will mature. As a result, the $125 million balance of these notes was included in the current portion of long-term debt on our balance sheet at December 31, 2014.

⁽²⁾  PGL's First Mortgage Bonds are subject to the terms and conditions of PGL's First Mortgage Indenture dated January 2, 1926, as supplemented. Under the terms of the Indenture, substantially all property owned by PGL is pledged as collateral for these outstanding debt securities.

PGL has used certain First Mortgage Bonds to secure tax exempt interest rates. The Illinois Finance Authority has issued Tax Exempt Bonds, and the proceeds from the sale of these bonds were loaned to PGL. In return, PGL issued equal principal amounts of certain collateralized First Mortgage Bonds.

In November 2014, PGL issued $200.0 million of 4.21% Series BBB Bonds. These bonds are due in November 2044. A portion of the proceeds was used to redeem PGL's $75.0 million4.875% Series QQ Bonds.

⁽³⁾  NSG's First Mortgage Bonds are subject to the terms and conditions of NSG's First Mortgage Indenture dated April 1, 1955, as supplemented. Under the terms of the Indenture, substantially all property owned by NSG is pledged as collateral for these outstanding debt securities.

⁽⁴⁾  In June 2014, our $100.0 million of 7.27% Unsecured Senior Notes matured, and the outstanding principal balance was repaid.

⁽⁵⁾  The 6.11% Junior Subordinated Notes are considered hybrid instruments with a combination of debt and equity characteristics. Under a replacement capital covenant with the holders of our 4.17% Unsecured Senior Notes due November 1, 2020, prior to December 1, 2036, any amounts redeemed or repurchased in excess of 10% of the principal amount outstanding must first be replaced with a specified amount of proceeds from the sale of qualifying securities that have equity-like characteristics that are the same as, or more equity-like than, the applicable characteristics of the 6.11% Junior Subordinated Notes.

The 6.00% Junior Subordinated Notes are considered hybrid instruments with a combination of debt and equity characteristics. There is no replacement capital covenant associated with these securities.

Schedule of all principal debt payment amounts related to bond maturities

A schedule of all principal debt payment amounts related to bond maturities is as follows:

(Millions)	Payments
2015	$	125.0
2016	105.0
2017	125.0
2018	5.0
2019	75.0
Later years	2,646.9
Total	$	3,081.9