RISK MANAGEMENT ACTIVITIES (Tables)

12 Months Ended

Dec. 31, 2011

RISK MANAGEMENT ACTIVITIES

Assets and liabilities from risk management activities

		December 31, 2011
(Millions)	Balance Sheet Presentation *	Assets from Risk Management Activities		Liabilities from Risk Management Activities
Utility Segments
Non-hedge derivatives
Natural gas contracts	Current	$	9.1	$	35.4
Natural gas contracts	Long-term	0.1		8.2
Financial transmission rights (FTRs)	Current	2.3		0.1
Petroleum product contracts	Current	0.1		—
Coal contract	Current	—		2.5
Coal contract	Long-term	—		4.4
Cash flow hedges
Natural gas contracts	Current	—		0.9
Natural gas contracts	Long-term	—		0.2
Nonregulated Segments
Non-hedge derivatives
Natural gas contracts	Current	121.6		120.5
Natural gas contracts	Long-term	41.9		40.5
Electric contracts	Current	93.9		152.0
Electric contracts	Long-term	22.4		48.7
Foreign exchange contracts	Current	0.2		0.2
	Current	227.2		311.6
	Long-term	64.4		102.0
Total		$	291.6	$	413.6

*All derivatives are recognized on the balance sheet at their fair value unless they qualify for the normal purchases and sales exception. We continually assess our contracts designated as normal and will discontinue the treatment of these contracts as normal if the required criteria are no longer met. We classify assets and liabilities from risk management activities as current or long-term based on the maturities of the underlying contracts.

		December 31, 2010
(Millions)	Balance Sheet Presentation *	Assets from Risk Management Activities		Liabilities from Risk Management Activities
Utility Segments
Non-hedge derivatives
Natural gas contracts	Current	$	2.2	$	23.6
Natural gas contracts	Long-term	1.6		1.4
FTRs	Current	3.1		0.2
Petroleum product contracts	Current	0.6		—
Coal contract	Current	—		1.2
Coal contract	Long-term	3.7		—
Cash flow hedges
Natural gas contracts	Current	—		1.0
Nonregulated Segments
Non-hedge derivatives
Natural gas contracts	Current	132.0		113.8
Natural gas contracts	Long-term	62.3		57.7
Electric contracts	Current	85.7		122.0
Electric contracts	Long-term	16.5		30.3
Foreign exchange contracts	Current	1.2		1.2
Foreign exchange contracts	Long-term	0.3		0.3
Fair value hedges
Interest rate swaps	Current	0.9		—
Cash flow hedges
Natural gas contracts	Current	1.6		9.2
Natural gas contracts	Long-term	0.1		0.9
Electric contracts	Current	9.6		17.4
Electric contracts	Long-term	4.9		9.1
	Current	236.9		289.6
	Long-term	89.4		99.7
Total		$	326.3	$	389.3

*All derivatives are recognized on the balance sheet at their fair value unless they qualify for the normal purchases and sales exception. We continually assess our contracts designated as normal and will discontinue the treatment of these contracts as normal if the required criteria are no longer met. We classify assets and liabilities from risk management activities as current or long-term based on the maturities of the underlying contracts.

Cash collateral positions

(Millions)	December 31, 2011		December 31, 2010
Cash collateral provided to others	$	50.9	$	33.3
Cash collateral received from others *	2.3		4.5

* Reflected in other current liabilities on the Balance Sheets.

Credit risk derivatives in a liability position

(Millions)	December 31, 2011		December 31, 2010
Integrys Energy Services	$	193.8	$	219.5
Utility segments	39.1		22.1

Collateral requirements related to credit-risk related contingent features in commodity instruments

(Millions)	December 31, 2011		December 31, 2010
Collateral that would have been required:
Integrys Energy Services	$	272.3	$	295.7
Utility segments	28.7		14.1
Collateral already satisfied:
Integrys Energy Services — Letters of credit	11.0		56.9
Collateral remaining:
Integrys Energy Services	261.3		238.8
Utility segments	28.7		14.1

Utility Segments, Notional volumes of outstanding non-hedge derivative contracts

	December 31, 2011		December 31, 2010
	Purchases	Other Transactions	Purchases	Other Transactions
Natural gas (millions of therms)	1,122.7	N/A	979.9	N/A
FTRs (millions of kilowatt-hours)	N/A	5,077.5	N/A	5,882.5
Petroleum products (barrels)	46,872.0	N/A	71,827.0	N/A
Coal contract (millions of tons)	4.1	N/A	4.9	N/A

Utility Segments, Unrealized gains (losses) related to non-hedge derivatives at the utilities

(Millions)	Financial Statement Presentation	2011			2010
Natural gas contracts	Balance Sheet — Regulatory assets (current)	$	(11.3	)	$	(1.7	)
Natural gas contracts	Balance Sheet — Regulatory assets (long-term)	(7.6		)	0.1
Natural gas contracts	Balance Sheet — Regulatory liabilities (current)	8.4			—
FTRs	Balance Sheet — Regulatory assets (current)	(0.4		)	1.0
FTRs	Balance Sheet — Regulatory liabilities (current)	(1.3		)	(2.1		)
Petroleum product contracts	Balance Sheet — Regulatory assets (current)	(0.1		)	—
Petroleum product contracts	Balance Sheet — Regulatory liabilities (current)	—			0.1
Petroleum product contracts	Income Statement — Operating and maintenance expense	(0.1		)	0.1
Coal contract	Balance Sheet — Regulatory assets (current)	(1.3		)	(1.2		)
Coal contract	Balance Sheet — Regulatory assets (long-term)	(4.4		)	—
Coal contract	Balance Sheet — Regulatory liabilities (long-term)	(3.7		)	3.7

(Millions)	Financial Statement Presentation	2009
Commodity contracts	Balance Sheet — Regulatory assets (current)	$	122.5
Commodity contracts	Balance Sheet — Regulatory assets (long-term)	7.3
Commodity contracts	Balance Sheet — Regulatory liabilities (current)	(1.0		)
Commodity contracts	Income Statement — Utility cost of fuel, natural gas, and purchased power	0.1

Utility Segments, Notional volumes of outstanding cash flow hedge derivative contracts

	Purchases
	December 31, 2011	December 31, 2010
Natural gas (millions of therms)	8.1	5.4

Utility Segments, Cash flow hedges recorded in OCI

Unrealized Loss Recognized in OCI on Derivative Instruments (Effective Portion)
(Millions)	2011			2010			2009
Natural gas contracts	$	(1.3	)	$	(1.6	)	$	(1.4	)

Utility Segments, Cash flow hedges reclassified from Accumulated Other Comprehensive Income into Income

Loss Reclassified from Accumulated OCI into Income (Effective Portion)
(Millions)	Income Statement Presentation	2011			2010			2009
Settled natural gas contracts	Operating and maintenance expense	$	(1.2	)	$	(0.9	)	$	(2.6	)

Nonregulated Segments, Notional volumes of outstanding non-hedge derivative contracts

	December 31, 2011		December 31, 2010
(Millions)	Purchases	Sales	Purchases	Sales
Commodity contracts
Natural gas (therms)	959.2	797.1	940.6	1,048.4
Electric (kilowatt-hours)	34,405.7	20,374.0	22,149.4	19,707.0
Foreign exchange contracts (Canadian dollars)	4.2	4.2	15.5	15.5

Nonregulated Segments, Unrealized gains (losses) related to non-hedge derivatives

(Millions)	Income Statement Presentation	2011			2010
Natural gas contracts	Nonregulated revenue	$	14.0		$	30.9
Natural gas contracts	Nonregulated revenue (reclassified from accumulated OCI)	(2.3		)*	(1.6		)*
Electric contracts	Nonregulated revenue	(79.0		)	(92.7		)
Electric contracts	Nonregulated revenue (reclassified from accumulated OCI)	(1.7		)*	(3.7		)*
Interest rate swaps	Interest expense	—			0.4
Total		$	(69.0	)	$	(66.7	)

*Represents amounts reclassified from accumulated OCI related to cash flow hedges that were dedesignated in the current and/or prior periods.

(Millions)	Income Statement Presentation	2009
Commodity contracts	Nonregulated revenue	$	(5.1	)
Commodity contracts	Nonregulated revenue (reclassified from accumulated OCI)	(3.2		)*
Interest rate swaps	Interest expense	(1.7		)
Foreign exchange contracts	Nonregulated revenue	(1.8		)
Total		$	(11.8	)

*Represents amounts reclassified from accumulated OCI related to cash flow hedges that were dedesignated and retained in accumulated OCI in the current and/or prior periods.

Nonregulated Segments, Fair value hedges unrealized gains (losses)

(Millions)	Income Statement Presentation	2011		2010			2009
Interest rate swap	Interest expense	$	—	$	(1.7	)	$	(0.6	)
Debt hedged by swap	Interest expense	—		1.7			0.6
Total		$	—	$	—		$	—

Nonregulated Segments, Notional volumes of outstanding cash flow hedge derivative contracts

	December 31, 2011		December 31, 2010
(Millions)	Purchases	Sales	Purchases	Sales
Commodity contracts
Natural gas (therms)	—	—	265.6	—
Electric (kilowatt-hours)	—	—	11,569.0	29.8

Nonregulated Segments, Cash flow hedges recorded in OCI and in earnings

Unrealized Gain (Loss) Recognized in OCI on Derivative Instruments (Effective Portion)
(Millions)	2011			2010
Natural gas contracts	$	(2.3	)	$	(15.2	)
Electric contracts	3.8			(13.6		)
Interest rate swaps	—			(6.0		)
Total	$	1.5		$	(34.8	)

Unrealized Gain (Loss) Recognized in OCI on Derivative Instruments (Effective Portion)
(Millions)	2009
Commodity contracts	$	(60.0	)
Interest rate swaps	3.2
Total	$	(56.8	)

Nonregulated Segments, Cash flow hedges reclassified from Accumulated Other Comprehensive Income into Income

Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)
(Millions)	Income Statement Presentation	2011			2010
Settled/Realized
Natural gas contracts	Nonregulated revenue	$	(9.3	)	$	(16.4	)
Electric contracts	Nonregulated revenue	4.2			(21.6		)
Interest rate swaps	Interest expense	(1.1		)	0.2
Hedge Designation Discontinued
Natural gas contracts	Nonregulated revenue	(0.3		)	0.2
Electric contracts	Nonregulated revenue	—			(9.9		)
Interest rate swaps	Interest expense	(0.2		)	—
Total		$	(6.7	)	$	(47.5	)

Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)
(Millions)	Income Statement Presentation	2009
Settled/Realized
Commodity contracts	Nonregulated revenue	$	(107.3	)
Interest rate swaps	Interest expense	1.2
Hedge Designation Discontinued
Commodity contracts	Nonregulated revenue	2.7
Total		$	(103.4	)

Nonregulated Segments, Cash flow hedges recorded in OCI (Ineffective Portion and Amount Excluded from Effectiveness Testing)

Gain (Loss) Recognized in Income on Derivative Instruments(Ineffective Portion and Amount Excluded from Effectiveness Testing)
(Millions)	Income Statement Presentation	2011			2010
Natural gas contracts	Nonregulated revenue	$	0.3		$	(1.1	)
Electric contracts	Nonregulated revenue	(0.3		)	(0.5		)
Total		$	—		$	(1.6	)

Loss Recognized in Income on Derivative Instruments(Ineffective Portion and Amount Excluded from Effectiveness Testing)
(Millions)	Income Statement Presentation	2009
Commodity contracts	Nonregulated revenue	$	(1.1	)