Northern States Power Company

The company's founder, Henry Marison Byllesby, had worked for two electric utility industry pioneers before getting into the business for himself.

Over the next few years, Consumers Power Co. grew rapidly as companies across the Twin Cities and central Minnesota were acquired and linked with transmission lines.

These lines linked Minneapolis, St. Paul, Shakopee, Faribault, Mankato, Northfield, Coon Rapids, Rockford, Delano, Watertown, and even distant places such as Crookston and Pipestone.

[3][4] On May 3, 1995, Northern States Power Company and Wisconsin Energy Corporation (NYSE: WEC) each filed a Securities and Exchange Commission Form 8-K to combine in a merger-of-equals transaction to form Primergy Corporation, which would be a registered public utility holding company, and to be the new parent of both NSP and of the operating subsidiaries of WEC.

The headquarters of the two utilities would remain distinct and separate in their existing respective state locations--Milwaukee for Wisconsin Energy and Minneapolis for NSP.

Howard stated that the problem was that the regulatory agencies were changing their merger policies as they were considering the companies' filing.

In particular, Howard blamed the Federal Energy Regulatory Commission, which had issued a decision earlier in the week remanding the case back to the companies, for further negotiation among themselves.

[5] The delay had put the merger five months behind schedule and had reduced earnings for both utilities by a total of US$58 million to that point, costs which had not been passed on to consumers.

The case was considered to be a bellwether in the utilities industry, putting an end to the rapid pace of mergers and acquisitions that had been ongoing up to then.

NSP is the successor to several companies that developed hydroelectric power, starting as early as 1852, at the St. Anthony Falls, Minneapolis, Minnesota.