SHORT-TERM DEBT AND LINES OF CREDIT

9 Months Ended

Sep. 30, 2014

Short-term Debt [Abstract]

SHORT-TERM DEBT AND LINES OF CREDIT

Short-Term Debt and Lines of Credit

Our outstanding short-term borrowings were as follows:

(Millions, except percentages)	September 30, 2014			December 31, 2013
Commercial paper	$	392.5		$	326.0
Average interest rate on commercial paper	0.24		%	0.22		%

The commercial paper outstanding at September 30, 2014, had maturity dates ranging from October 1, 2014, through November 3, 2014.

Our average amount of commercial paper borrowings based on daily outstanding balances during the nine months ended September 30, 2014, and 2013, was $287.8 million and $423.0 million, respectively.

We manage our liquidity by maintaining adequate external financing commitments. The information in the table below relates to our revolving credit facilities used to support our commercial paper borrowing program, including remaining available capacity under these facilities:

(Millions)	Maturity	September 30, 2014		December 31, 2013
Revolving credit facility (Integrys Energy Group) (1)	05/17/2014	$	—	$	275.0
Revolving credit facility (Integrys Energy Group) (1)	05/17/2016	—		200.0
Revolving credit facility (Integrys Energy Group)	06/13/2017	635.0		635.0
Revolving credit facility (Integrys Energy Group)	05/08/2019	465.0		—
Revolving credit facility (WPS) (1)	05/17/2014	—		135.0
Revolving credit facility (WPS) (2)	05/07/2015	135.0		—
Revolving credit facility (WPS)	06/13/2017	115.0		115.0
Revolving credit facility (PGL)	06/13/2017	250.0		250.0
Total short-term credit capacity		$	1,600.0	$	1,610.0
Less:
Letters of credit issued inside credit facilities		$	29.4	$	52.4
Commercial paper outstanding		392.5		326.0
Available capacity under existing agreements		$	1,178.1	$	1,231.6

⁽¹⁾  These credit facilities were terminated and replaced with new credit facilities in May 2014.

⁽²⁾  WPS requested approval from the PSCW to extend this facility through May 8, 2019.