Dive Brief:

• The Michigan Public Service Commission last week authorized Integrys Energy Group and Wisconsin Energy Corp. to move ahead with their $9.1 billion merger.
• Proposed in the summer of 2014, the merger would combine the companies into an entity serving more than 4.3 million gas and electric customers across Wisconsin, Illinois, Michigan and Minnesota.
• Federal regulators approved the merger earlier this month after We Energies agreed to help solve a power crisis on Michigan's Upper Peninsula. 

Dive Insight:

Michigan regulators have signed off on the proposed merger of Integrys and Wisconsin Energy, moving the two companies a step closer and three states away from closing the deal.

"We're pleased that the key groups were able to reach an agreement satisfactory to all parties that ultimately resulted in the MPSC written order for approval," said Integrys Energy Group Chairman and CEO Charles Schrock in a statemet. "This action brings us another step closer to completing the transaction with Wisconsin Energy."

The Public Service Commission of Wisconsin, Minnesota Public Utilities Commission and Illinois Commerce Commission must still authorize the deal.

While the companies have pointed to the size of the combined venture as one benefit, FERC in its approval determined the deal would not "result in the cross-subsidization of a non-utility associate company by a utility company, or in a pledge or encumbrance of utility assets for the benefit of an associate company."

Illinois regulators are not expected to vote on the matter until July, likely making it the last state to weigh in.