Company: WELPM
Filing Date: 2025-12-03
Form Type: 424B2
Source: 0001104659-25-118058
Chunk: 31

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-12-03
Form: 424B2
Chunk 31
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 should rely on the information in the prospectus supplement. Please carefully read
this prospectus and the applicable prospectus supplement, in addition to the information contained in the documents we refer you to under
the heading “WHERE YOU CAN FIND MORE INFORMATION.”

<div align='center'>RISK FACTORS</div>

Investing in the debt securities of Wisconsin Electric
involves risk. Please see the risk factors under the heading “Risk Factors” described in Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2023, which is incorporated by reference in this prospectus and which may be amended,
supplemented or superseded from time to time by other reports we file with the SEC in the future. Before making an investment decision,
you should carefully consider these risks as well as other information contained or incorporated by reference in this prospectus.

<div align='center'>FORWARD-LOOKING STATEMENTS AND CAUTIONARY FACTORS</div>

We have included or may include statements in this
prospectus or in any prospectus supplement (including documents incorporated by reference) that constitute “forward-looking statements”
within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E
of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Any statements that express, or involve discussions
as to, expectations, beliefs, plans, objectives, goals, strategies, assumptions or future events or performance may be forward-looking
statements. Also, forward-looking statements may be identified by reference to a future period or periods or by the use of forward-looking
terminology such as “anticipates,” “believes,” “could,” “estimates,” “expects,”
“forecasts,” “goals,” “guidance,” “intends,” “may,” “objectives,”
“plans,” “possible,” “potential,” “projects,” “seeks,” “should,”
“targets,” “will” or similar terms or variations of these terms.

We caution you that any forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ materially from the future results, performance or achievements we have anticipated in the forward-looking statements.

In addition to the assumptions and other factors
referred to specifically in connection with those statements, factors that could cause our actual results, performance or achievements