GUARANTEES

The following table shows our outstanding guarantees:



	Total Amounts		Expiration
	Committed at		Less Than		1 to 3		Over 3
	June 30, 2015		1 Year		Years		Years
	(Millions of Dollars)
Guarantees:
Guarantees supporting commodity transactions of subsidiaries (a)	$	156.4	$	83.4	$	—	$	73.0
Standby letters of credit (b)	19.9		19.8		0.1		—
Surety bonds(c)	33.2		33.2		—		—
Other guarantees(d)	67.0		4.3		0.1		62.6
Total	$	276.5	$	140.7	$	0.2	$	135.6

(a)

Consists of (a) $5.0 million and $6.0 million to support the business operations of WEC Business Services, LLC and WPS Power Development, LLC (PDL), respectively, and (b) $1.1 million, $109.3 million, and $35.0 million related to natural gas supply at Integrys Transportation Fuels, LLC (ITF), Minnesota Energy Resources Corporation (MERC), and MGU, respectively. These guarantees are not reflected on our balance sheets.


(b)	At our request or the request of our subsidiaries, financial institutions have issued standby letters of credit for the benefit of third parties that have extended credit to our subsidiaries. This amount consists of standby letters of credit issued to primarily support ITF, MERC, MGU, NSG, PDL, PGL, WPS, and Wisconsin Electric. This amount is not reflected on our balance sheets.


(c)	Primarily for the construction and operation of compressed natural gas fueling stations by ITF, workers compensation self-insurance programs, and obtaining various licenses, permits, and rights-of-way. These guarantees are not reflected on our balance sheets.

(d)

Consists of (a) $34.6 million to support PDL's future payment obligations related to its distributed solar generation projects; (b) $10.0 million related to the sale of a nonregulated retail marketing business previously owned by Integrys; (c) $11.2 million related to the performance of an operating and maintenance agreement by ITF; (d) $6.9 million related to other indemnifications primarily for workers compensation coverage; and (e) $3.7 million related to workers compensation obligations. The amounts discussed in items (a), (c), and (d) above are not reflected on our balance sheets. In addition, an insignificant liability was recorded for item (b) related to the possible imposition of additional miscellaneous gross receipts tax in the event of a change in law or interpretation of the law.