WISCONSIN ELECTRIC POWER CO (WELPM) SEC Filings, Feb-May 2026

Wisconsin Electric Power Company reported higher first‑quarter results, with operating revenues of $1,323.5 million and net income of $235.5 million, up from $1,179.1 million and $196.4 million a year earlier. Utility revenues grew in both electric and natural gas businesses, helped by stronger residential and large commercial and industrial demand. Cash from operations increased to $481.3 million, funding substantial capital expenditures of $531.1 million focused on generation transition and network reliability.

The company issued $300.0 million of 5.65% debentures due 2056 and received a $405.0 million equity contribution from its parent, while reducing short‑term debt to $135.0 million. It is pursuing acquisitions of a 30% interest in the Weston 4 coal unit, currently estimated at $150 million, and an 80% interest in the 67.2 MW Whitetail Wind project for about $178 million. Management also filed a 2027–2028 rate case requesting staged electric and gas increases and obtained verbal approval for new Very Large Customer and Bespoke Resources tariffs to serve data centers and other large loads without shifting costs to other customers.

Wisconsin Electric Power Company reported voting results from its 2026 Annual Meeting of Stockholders held on April 30, 2026. Stockholders elected five directors for terms expiring in 2027.

Each nominee — Michael W. Hooper, Kyle A. Hoops, Margaret C. Kelsey, Scott J. Lauber, and Xia Liu — received 33,289,327 shares voted in favor, with zero shares withheld and zero broker non-votes. The company did not solicit proxies because its parent, WEC Energy Group, Inc., owns more than 99% of its voting securities.

WEC Energy Group filed a report highlighting upcoming investor meetings, new rate requests, and an update to its long-term growth plan. Wisconsin utilities have filed to reset electric and natural gas rates for 2027 and 2028, with proposed base rate increases generally in the mid-single digits by service and year.

The company plans to extend the operating lives of Oak Creek Power Plant units 7 and 8 through 2027 to support reliability and affordability until new dispatchable generation starts coming online, expected in late 2027. An April 2026 investor presentation reiterates a 7.0%–8.0% long-term earnings per share growth outlook supported by a $37.5 billion capital plan for 2026–2030 and strong data center-driven demand growth in the Wisconsin corridor.

Wisconsin Electric Power Company furnished a definitive Information Statement beginning March 26, 2026, for its Annual Meeting on April 30, 2026 at 10:00 a.m. CT in Milwaukee. The parent, WEC Energy Group, owns and will vote more than 99% of the common stock. The proxy is not being solicited; preferred stockholders may vote in person.

The meeting purpose is to elect five directors to one-year terms; nominees are current officers of WE and/or WEC Energy Group. The statement details board composition, committee responsibilities, audit fees, risk oversight, and the 2025 executive compensation framework including short-term and long-term incentive design and 2025 payouts.

Wisconsin Electric Power Company entered into an underwriting agreement to issue and sell $300,000,000 aggregate principal amount of 5.65% Debentures due March 15, 2056. The long-term debt is being offered in a registered transaction under an existing Form S-3 shelf registration statement.

The company also filed related exhibits, including the underwriting agreement, a securities resolution under its 1995 indenture, and a legal opinion and consent from its Vice President and Deputy General Counsel.

Wisconsin Electric Power Company is offering $300,000,000 aggregate principal amount of 5.65% debentures due March 15, 2056. Interest accrues at 5.65% from March 13, 2026 and is payable semi-annually on March 15 and September 15, beginning September 15, 2026. The public offering price is 99.799% (underwriting discount 0.875%), producing estimated net proceeds of approximately $295.8 million, which the company intends to use to repay short-term debt and for general corporate purposes. The Debentures are unsecured, will rank equally with other unsecured indebtedness, and include optional redemption features, including a Tax Credit Event redemption at 101% under specified conditions.

Wisconsin Electric Power Company is offering a series of unsecured, unsubordinated debentures due in 20__ (the "Debentures"). The Debentures will bear interest semi‑annually from March __, 2026, will be issued in registered book‑entry form through DTC, and may be redeemed prior to maturity, including upon a defined "Tax Credit Event."

The proceeds are expected to be used to repay short‑term debt and for general corporate purposes; estimated net proceeds and final interest rate, principal amount and maturity will be set forth in the final prospectus supplement.

Wisconsin Electric Power Company files its 2025 Form 10-K, highlighting its regulated electric, natural gas, and steam operations in Wisconsin and wholesale electric sales under FERC regulation. Total utility operating revenues were $4,493.6 million in 2025, up from $3,979.9 million in 2024, driven mainly by electric utility revenues of $3,935.4 million and Wisconsin natural gas revenues of $558.2 million.

The company served 1,184.7 thousand electric customers and 519.5 thousand natural gas customers at December 31, 2025, and forecasts retail electric sales volumes to increase 2.3% in 2026 assuming normal weather. Its 2025 electric supply came 68.1% from company-owned or leased generation and 30.8% from power purchase contracts, with renewables contributing 7.6% from owned or leased units.

WEC Energy Group’s generation fleet, which includes Wisconsin Electric, has achieved a 53% reduction in carbon emissions from a 2005 baseline and targets net carbon-neutral electric generation by 2050, expecting to use coal only as backup by 2030 and eliminate coal as an energy source by 2032, subject to regulation and capital plan execution.