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SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549

FORM 10-Q

[x] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2003

[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

For the transition period from __________ to __________

Commission File Number	Registrants; State of Incorporation; Address; and Telephone Number	IRS Employer Identification No.

1-11337	WPS RESOURCES CORPORATION (A Wisconsin Corporation) 700 North Adams Street P. O. Box 19001 Green Bay, WI 54307-9001 920-433-4901	39-1775292

1-3016	WISCONSIN PUBLIC SERVICE CORPORATION (A Wisconsin Corporation) 700 North Adams Street P. O. Box 19001 Green Bay, WI 54307-9001 800-450-7260	39-0715160

Indicate by check mark whether the registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) have been subject to such filing requirements for the past 90 days.

WPS Resources Corporation	Yes [x] No [ ]
Wisconsin Public Service Corporation	Yes [x] No [ ]

Indicate by check mark whether the registrants are accelerated filers (as defined in Rule 12b-2 of the Act).

WPS Resources Corporation	Yes [x] No [ ]
Wisconsin Public Service Corporation	Yes [ ] No [x ]

Indicate the number of shares outstanding of each of the issuers' classes of common stock, as of the latest practicable date:

WPS RESOURCES CORPORATION	Common stock, $1 par value, 32,490,496 shares outstanding at July 31, 2003

WISCONSIN PUBLIC SERVICE CORPORATION	Common stock, $4 par value, 23,896,962 shares outstanding at July 31, 2003

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WPS RESOURCES CORPORATION AND WISCONSIN PUBLIC SERVICE CORPORATION FORM 10-Q FOR THE QUARTER ENDED JUNE 30, 2003 CONTENTS
		Page

	FORWARD-LOOKING STATEMENTS	4

PART I.	FINANCIAL INFORMATION

Item 1.	FINANCIAL STATEMENTS
	WPS RESOURCES CORPORATION
	Consolidated Statements of Income	5
	Consolidated Balance Sheets	6
	Consolidated Statements of Cash Flows	7

	WISCONSIN PUBLIC SERVICE CORPORATION
	Consolidated Statements of Income	8
	Consolidated Balance Sheets	9
	Consolidated Statements of Capitalization	10
	Consolidated Statements of Cash Flows	11

	CONDENSED NOTES TO FINANCIAL STATEMENTS OF
	WPS Resources Corporation and Subsidiaries Wisconsin Public Service Corporation and Subsidiaries	12-25

Item 2.	Management's Discussion and Analysis of Financial Condition and Results of Operations for
	WPS Resources Corporation	26-47
	Wisconsin Public Service Corporation	48-54

Item 3.	Quantitative and Qualitative Disclosures About Market Risk	55

Item 4.	Controls and Procedures	55

PART II.	OTHER INFORMATION

Item 1.	Legal Proceedings	56-58

Item 4.	Submission of Matters to a Vote of Security Holders	58

Item 5.	Other Information	58-59

Item 6.	Exhibits and Reports on Form 8-K	60

Signatures		61-62

EXHIBIT INDEX

12.1	WPS Resources Corporation Ratio of Earnings to Fixed Charges
12.2	Wisconsin Public Service Corporation Ratio of Earnings to Fixed Charges and Ratio of Earnings to Fixed Charges and Preferred Dividends
31.1	Certification of Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act and Rule 13a-14(a) or 15d-14(a) under the Securities Exchange Act of 1934 for WPS Resources Corporation
31.2	Certification of Chief Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act and Rule 13a-14(a) or 15d-14(a) under the Securities Exchange Act of 1934 for WPS Resources Corporation
31.3	Certification of Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act and Rule 13a-14(a) or 15d-14(a) under the Securities Exchange Act of 1934 for Wisconsin Public Service Corporation
31.4	Certification of Chief Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act and Rule 13a-14(a) or 15d-14(a) under the Securities Exchange Act of 1934 for Wisconsin Public Service Corporation
32.1	Written Statement of the Chief Executive Officer and Chief Financial Officer Pursuant to 18 U.S.C. Section 1350 for WPS Resources Corporation
32.2	Written Statement of the Chief Executive Officer and Chief Financial Officer Pursuant to 18 U.S.C. Section 1350 for Wisconsin Public Service Corporation

FORWARD-LOOKING STATEMENTS

Except for historical data and statements of current fact, the information contained or incorporated by reference in this document constitutes forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. Any references to plans, goals, beliefs or expectations in respect to future events and conditions or to estimates are forward-looking statements. Although we believe that statements of our expectations are based on reasonable assumptions, forward-looking statements are inherently uncertain and subject to risks and should be viewed with caution. Actual results or experience could differ materially from the forward-looking statements as a result of many factors. Forward-looking statements included or incorporated in this document include, but are not limited to statements regarding:

expectations regarding future revenues or expenses,

estimated future capital expenditures,

expected costs of purchased power in the future,

costs of decommissioning nuclear generating plants,

recovery of deferred costs,

future cleanup costs associated with manufactured gas plant sites, and

statements regarding trends or estimates in Management's Discussion and Analysis of Financial Condition and Results of Operations.

We cannot predict the course of future events or anticipate the interaction of multiple factors beyond our control and their effect on revenues, project timing, and costs. Some risk factors that could cause results different from any forward-looking statement include those described in the Risk Factors Section of our Annual Report on Form 10-K for the year ended December 31, 2002 and the following:

General economic, business, and regulatory conditions

Legislative and regulatory initiatives regarding deregulation and restructuring of the utility industry which could affect costs and investment recovery

State and federal rate regulation, including the inability to obtain necessary regulatory approvals

Changes in generally accepted accounting principles

Growth and competition and the extent and timing of new business development in the markets of subsidiary companies

The performance of projects undertaken or acquired by subsidiary companies

Business combinations among our competitors and customers

Energy supply and demand

Financial market conditions, including availability, terms, and use of capital

Nuclear and environmental issues

Weather and other natural phenomena

Commodity price and interest rate risk

Counter-party credit risk

Federal and state tax policies

Acts of terrorism or war

We make no commitment to disclose any revisions to the forward-looking statements as a result of facts, events, or circumstances after the date of this report.

PART I. FINANCIAL INFORMATION

Item 1. Financial Statements

WPS RESOURCES CORPORATION


CONSOLIDATED STATEMENTS OF INCOME (Unaudited)	Three Months Ended		Six Months Ended
	June 30,		June 30,
(Millions, except share amounts)	2003	2002	2003	2002

Nonregulated revenue	$721.0	$100.1	$1,642.4	$221.0
Utility revenue	260.8	231.8	622.7	510.6
Total revenues	981.8	331.9	2,265.1	731.6

Nonregulated cost of fuel, gas, and purchased power	698.3	77.8	1,579.3	174.9
Utility cost of fuel, gas, and purchased power	111.7	88.1	304.8	204.0
Operating and maintenance expense	129.0	112.0	250.4	217.3
Depreciation and decommissioning expense	27.6	22.6	52.9	48.7
Taxes other than income	10.9	9.8	21.7	20.0
Operating income	4.3	21.6	56.0	66.7

Miscellaneous income	7.5	18.1	8.9	23.8
Interest expense	(14.9)	(14.0)	(29.4)	(28.0)
Distributions - preferred securities of subsidiary trust	(0.9)	(0.9)	(1.8)	(1.8)
Minority interest	1.2	(0.1)	2.3	(0.1)
Other income (expense)	(7.1)	3.1	(20.0)	(6.1)

Income (loss) before taxes	(2.8)	24.7	36.0	60.6
Income tax provision (benefit)	(6.3)	2.2	1.9	9.2
Net income before preferred dividends	3.5	22.5	34.1	51.4

Preferred stock dividends of subsidiary	0.8	0.8	1.6	1.6
Net income before cumulative effect of changes in
accounting principles	2.7	21.7	32.5	49.8

Cumulative effect of changes in accounting principles, net of tax	-	-	3.2	-
Income available for common shareholders	$2.7	$21.7	$35.7	$49.8

Average shares of common stock	32.4	31.7	32.3	31.6
Earnings per share before cumulative effect of
changes in accounting principles
Basic	$0.08	$0.68	$1.00	$1.58
Diluted	$0.08	$0.68	$0.99	$1.57
Impact per share of cumulative effect of changes in
accounting principles
Basic	$0.00	$0.00	$0.10	$0.00
Diluted	$0.00	$0.00	$0.10	$0.00
Earnings per common share
Basic	$0.08	$0.68	$1.10	$1.58
Diluted	$0.08	$0.68	$1.09	$1.57
Dividends per common share	$0.535	$0.525	$1.070	$1.050

The accompanying condensed notes are an integral part of these statements.


WPS RESOURCES CORPORATION


CONSOLIDATED BALANCE SHEETS	June 30,	December 31,
(Millions)	2003	2002
	(Unaudited)

Assets
Cash and cash equivalents	$54.3	$43.3
Restricted funds	4.1	4.2
Accounts receivable - net of reserves of $7.5 and $7.0, respectively	348.6	293.3
Accrued unbilled revenues	56.8	105.9
Inventories	140.4	118.1
Current portion of assets from risk management activities	427.2	406.6
Other current assets	86.7	72.3
Current assets	1,118.1	1,043.7

Property, plant, and equipment - net of reserves of $1,645.6 and $1,832.4, respectively	1,996.5	1,610.2
Regulatory assets	110.5	110.9
Long-term assets from risk management activities	152.3	135.3
Other	345.6	307.8
Total assets	$3,723.0	$3,207.9

Liabilities and Shareholders' Equity
Short-term debt	$105.5	$29.8
Current portion of long-term debt	6.6	71.1
Accounts payable	522.9	452.0
Current portion of liabilities from risk management activities	419.5	443.8
Other current liabilities	53.4	53.7
Current liabilities	1,107.9	1,050.4

Long-term debt	813.5	824.4
Deferred income taxes	78.8	73.7
Deferred investment tax credits	18.5	19.3
Regulatory liabilities	120.7	49.7
Environmental remediation liabilities	38.1	40.2
Benefit obligations	50.9	51.8
Long-term liabilities from risk management activities	140.9	109.7
Asset retirement obligations	336.3	-
Other	111.1	104.8
Long-term liabilities	1,708.8	1,273.6

Company-obligated mandatorily redeemable trust preferred
securities of subsidiary trust holding solely
WPS Resources 7.00% subordinated debentures	50.0	50.0
Preferred stock of subsidiary with no mandatory redemption	51.1	51.1
Common stock equity	805.2	782.8
Total liabilities and shareholders' equity	$3,723.0	$3,207.9


The accompanying condensed notes are an integral part of these statements.


WPS RESOURCES CORPORATION


CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)			Six Months Ended
			June 30,
(Millions)			2003	2002
Operating Activities
Net income before preferred dividends			$34.1	$51.4
Adjustments to reconcile net income to net cash provided by operating activities
	Depreciation and decommissioning		52.9	48.7
	Amortization		22.8	18.1
	Unrealized (gains) losses on investments		(2.3)	(1.8)
	Unrealized (gains) losses on nonregulated energy contracts		6.9	11.5
	Deferred income taxes and investment tax credit		1.1	13.8
	Other		(3.8)	(7.3)
	Changes in working capital
		Receivables	(7.7)	40.1
		Inventories	(39.8)	16.2
		Other current assets	(15.3)	(0.9)
		Accounts payable	70.7	(34.3)
		Other current liabilities	(7.6)	(5.2)
Net cash operating activities			112.0	150.3

Investing Activities
Capital expenditures			(69.9)	(100.2)
Sale of property, plant and equipment			20.2	0.2
Business acquisitions and purchases of equity investments			(45.3)	(67.4)
Dividends received from equity method investment			3.6	3.9
Decommissioning funding			(1.4)	(1.3)
Other			(1.2)	(5.5)
Net cash investing activities			(94.0)	(170.3)

Financing Activities
Short-term debt - net			75.7	14.7
Issuance of long-term debt			-	0.2
Repayment of long-term debt and capital lease			(76.1)	(3.6)
Payment of dividends
	Preferred stock		(1.6)	(1.6)
	Common stock		(34.1)	(33.1)
Issuance of common stock			17.5	18.2
Purchase of common stock			(0.8)	(1.1)
Other			12.4	1.3
Net cash financing activities			(7.0)	(5.0)
Change in cash and cash equivalents			11.0	(25.0)
Cash and cash equivalents at beginning of period			43.3	43.9
Cash and cash equivalents at end of period			$54.3	$18.9


The accompanying condensed notes are an integral part of these statements.


WISCONSIN PUBLIC SERVICE CORPORATION


CONSOLIDATED STATEMENTS OF INCOME (Unaudited)	Three Months Ended		Six Months Ended
	June 30,		June 30,
(Millions)	2003	2002	2003	2002

Operating revenues
Electric	$172.6	$163.5	$350.7	$325.2
Gas	72.2	57.9	245.8	165.6
Total operating revenues	244.8	221.4	596.5	490.8
Operating expenses
Electric production fuels	32.9	28.2	67.1	56.1
Purchased power	24.2	24.0	48.1	42.9
Gas purchased for resale	50.3	35.7	181.1	103.9
Other operating expenses	72.9	63.5	142.8	124.0
Maintenance	23.2	20.2	42.8	38.8
Depreciation and decommissioning	23.0	18.7	43.5	41.6
Federal income taxes	1.2	4.0	12.7	15.9
Investment tax credit restored	(0.4)	(0.4)	(0.7)	(0.8)
State income taxes	0.5	0.7	3.4	3.7
Gross receipts tax and other	9.2	8.4	18.3	16.8
Total operating expense	237.0	203.0	559.1	442.9
Operating income	7.8	18.4	37.4	47.9
Other income and (deductions)
Allowance for equity funds used during construction	0.5	0.9	1.4	1.5
Other, net	7.2	1.6	10.5	7.2
Income taxes	(1.3)	(1.8)	(1.8)	(2.2)
Total other income	6.4	0.7	10.1	6.5
Income before interest expense	14.2	19.1	47.5	54.4
Interest expense
Interest on long-term debt	6.9	7.0	14.3	13.9
Other interest	1.5	1.9	2.5	3.8
Allowance for borrowed funds used during construction	(0.3)	(0.4)	(0.7)	(0.6)
Total interest expense	8.1	8.5	16.1	17.1
Minority interest	(1.0)	(0.2)	(1.6)	(0.8)
Net income	5.1	10.4	29.8	36.5
Preferred stock dividend requirements	0.8	0.8	1.6	1.6
Earnings on common stock	$4.3	$9.6	$28.2	$34.9


The accompanying condensed notes are an integral part of these statements.


WISCONSIN PUBLIC SERVICE CORPORATION


CONSOLIDATED BALANCE SHEETS	June 30,	December 31,
(Millions)	2003	2002
	(Unaudited)
ASSETS