Company: WELPM
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0000107815-25-000204
Chunk: 109

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 8
Chunk 109
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2024, largely driven by customer write-offs related to the winter moratorium months ending. After a customer is disconnected for a period of time without payment on their account, we will write off that customer balance. The winter moratorium begins on November 1 and ends on April 15. Also contributing to the decrease in the allowance for credit losses, we saw lower required reserve percentages as a result of an improvement in loss rates. We also believe that the lower energy costs that customers were seeing, which were driven by warmer than normal weather conditions and low average natural gas prices, contributed to a reduction in past due accounts receivable balances and a related decrease in the allowance for credit losses.

NOTE 5—REGULATORY ASSETS AND LIABILITIES

The following regulatory assets and liabilities were reflected on our balance sheets at June 30, 2025 and December 31, 2024. For more information on our regulatory assets and liabilities, see Note 7, Regulatory Assets and Liabilities, in our 2024 Annual Report on Form 10-K.(in millions)June 30, 2025December 31, 2024Regulatory assetsWe Power finance leases$1,150.1 $1,139.1 Plant retirement related items654.7 655.1 Income tax related items389.0 364.6 Pension and OPEB costs323.5 343.1 Uncollectible expense100.4 108.4 System support resource97.8 102.9 Securitization72.2 76.5 Asset retirement obligations56.3 52.8 Bluewater Natural Gas Holding, LLC18.1 21.1 Other, net78.4 82.7 Total regulatory assets$2,940.5 $2,946.3 

06/30/2025 Form 10-Q11Wisconsin Electric Power Company

(in millions)June 30, 2025December 31, 2024Regulatory liabilitiesRemoval costs $834.3 $809.2 Income tax related items658.5 653.9 Pension and OPEB benefits113.6 118.5 Energy costs refundable through rate adjustments107.8 70.7 Revenue requirements of renewable generation facilities27.6 37.9 Electric transmission costs3.9 19.7 Other, net54.7 52.9 Total regulatory liabilities