Company: WELPM
Filing Date: 2025-09-19
Form Type: 424B2
Source: 0001104659-25-091569
Chunk: 33

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-09-19
Form: 424B2
Chunk 33
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 event of highly leveraged transactions or any decline in our ratings or credit quality.                                             |

Although the indenture permits the issuance of
debt securities in other forms or currencies, the debt securities covered by this prospectus will only be denominated in U.S. dollars
in registered form without coupons, unless otherwise indicated in the applicable prospectus supplement.

Most of our fixed properties and franchises are
subject to the lien of the Mortgage and Deed of Trust dated October 28, 1938, between us and U.S. Bank Trust Company, National
Association (as successor to First Wisconsin Trust Company), as trustee, which we refer to in this prospectus as the first mortgage
bond indenture, under which we may issue first mortgage bonds. See “Certain Covenants” below for additional information.

Unless we say otherwise in the applicable prospectus
supplement, we may redeem the debt securities for cash.

Terms

A prospectus supplement and a securities resolution
relating to the offering of any new series of debt securities will include specific terms relating to the offering. The terms will include
some or all of the following:

| ● | the designation, aggregate principal amount, currency or composite currency and denominations of the debt securities; |

| ● | the price at which the debt securities will be issued and, if an index, formula or other method is used, the method for determining 
 amounts of principal or interest;                                                                                                   |

| ● | the maturity date and other dates, if any, on which the principal of the debt securities will be payable; |

| ● | the interest rate or rates, if any, or method of calculating the interest rate or rates, which the debt securities will bear; |

| ● | the date or dates from which interest will accrue and on which interest will be payable and the record dates for the payment of interest; |

| ● | the manner of paying principal and interest on the debt securities; |

| ● | the place or places where principal and interest will be payable; |

| ● | the terms of any mandatory or optional redemption of the debt securities by us, including any sinking fund; |

| ● | the terms of any redemption of debt securities at the option of holders; |

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| ● | any tax indemnity provisions; |

| ● | if payments of principal or interest may be made in a currency other than U.S. dollars, the manner for determining those payments; |

| ● | the portion of principal payable