GREEN BAY, Wis., and CHICAGO, Jan. 11 /PRNewswire-FirstCall/ -- WPS Resources Corporation (NYSE:WPS) ("WPS Resources") and Peoples Energy Corporation (NYSE:PGL) ("Peoples") announced that they have reached an agreement with the remaining active intervening parties regarding the contested issues in the merger application pending before the Illinois Commerce Commission (ICC). The agreement is subject to approval by the ICC. Under the agreement with a group of natural gas marketers who make direct gas sales to utility customers, Peoples Gas and North Shore Gas (collectively "Gas Companies") will make certain limited administrative changes to make the customer choice programs easier for marketers. The Gas Companies will propose certain specified changes relating to rate design for their customer choice programs in their next rate cases. The Gas Companies will also discuss with marketers other changes to their customer choice programs that may be addressed in the upcoming rate cases. Earlier this week, the Gas Companies announced they had reached agreement with the other active interveners in the merger case pending before the ICC. The proposed merger of WPS Resources and Peoples Energy to create Integrys Energy Group, Inc., was announced in July 2006. The merger has already been approved by shareholders of both companies and the Federal Energy Regulatory Commission. The merger remains on track to close during the first quarter of 2007. About WPS Resources Corporation WPS Resources (NYSE:WPS), based in Green Bay, Wisconsin, is a holding company with five major subsidiaries providing electric and natural gas energy and related services in both regulated and non-regulated energy markets. Its largest subsidiary is Wisconsin Public Service Corporation, a regulated electric and natural gas utility serving northeastern Wisconsin and a portion of Michigan's Upper Peninsula. Wisconsin Public Service serves more than 425,000 electric customers and 308,000 natural gas customers. Minnesota Energy Resources Corporation is a regulated natural gas utility serving more than 200,000 customers throughout Minnesota. Michigan Gas Utilities Corporation is a regulated natural gas utility serving 161,000 customers in lower Michigan. Another subsidiary, Upper Peninsula Power Company, is a regulated electric utility that serves approximately 52,000 electric customers in Michigan's Upper Peninsula. WPS Resources' major non-regulated subsidiary consists of WPS Energy Services, Inc., a diversified non-regulated energy supply and services company serving commercial, industrial and wholesale customers and aggregated groups of residential customers. Its principal market is the northeast quadrant of the United States and adjacent portions of Canada. Its principal operations are in Illinois, Maine, Michigan, Ohio, Texas, Virginia, and Wisconsin in the United States and Alberta, Ontario, and Quebec in Canada. WPS Energy Services also owns and/or operates non-regulated electric generation facilities in Wisconsin, Maine, Pennsylvania, New York, and New Brunswick, Canada; steam production facilities in Arkansas and Oregon; and a partial interest in a synthetic fuel processing facility in Kentucky. Visit the WPS Resources Web site at http://www.wpsr.com/ for additional information. About Peoples Energy Peoples Energy, (NYSE:PGL) a member of the S&P 500, is a diversified energy company consisting of three primary business segments: Gas Distribution, Oil and Gas Production, and Energy Marketing. Peoples Gas and North Shore Gas, regulated utilities, deliver natural gas to about one million customers in the City of Chicago and 54 communities in northeastern Illinois. The company's non-utility businesses include Peoples Energy Services (PESC) and Peoples Energy Production (PEP). PESC, launched in 1996, serves more than 40,000 customers, providing a portfolio of products to manage the energy needs of business, institutional and residential consumers. PEP is primarily engaged in the acquisition and development of proven onshore natural gas reserves with upside potential in a limited number of strategic supply basins. Value is then added through drilling programs, production enhancements and reservoir optimization. Visit Peoples' website at http://www.peoplesenergy.com/ for more information. Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. You can identify these statements by the fact that they do not relate strictly to historical or current facts and often include words such as "anticipate," "expect," "intend," "may," "could," "project," "believe" and other similar words. Forward-looking statements are beyond the ability of WPS Resources and Peoples Energy to control and, in many cases, neither WPS Resources nor Peoples Energy can predict what factors would cause actual results to differ materially from those indicated by forward-looking statements. Please see WPS Resources' and Peoples Energy's periodic reports filed with the Securities and Exchange Commission (including their 10-Ks and 10-Qs) for listings of certain factors that could cause actual results to differ materially from those contained in forward-looking statements. All forward-looking statements included in this press release are based upon information presently available, and neither WPS Resources nor Peoples Energy assumes any obligation to update any forward- looking statements. DATASOURCE: WPS Resources CONTACT: Joseph P. O'Leary (Investor Relations), Senior Vice President and Chief Financial Officer, +1-920-433-1463, Donna M. Sheedy (Investor Relations), Manager Investor Relations, +1-920-433-1857, Thomas P. Meinz (Media) Executive Vice President - Public Affairs, +1-920-433-1293, all for WPS Resources Corporation; or, Thomas Nardi (Investor Relations), Executive Vice President and Chief Financial Officer, +1-312-240-7152, Douglas Ruschau (Investor Relations), Vice President, Finance and Treasurer, +1-312- 240-3818, Rod Sierra (Media), Vice President, Communications and Government Relations, +1-312-240-4567, all for Peoples Energy Web site: http://www.wpsr.com/ http://www.peoplesenergy.com/

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