Company: WELPM
Filing Date: 2025-03-27
Form Type: DEF 14C
Source: 0000107815-25-000155
Chunk: 195

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-03-27
Form: DEF 14C
Chunk 195
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#### 2024 Limited Rate Case Re-Opener
In accordance with our rate order approved by the PSCW in December 2022, we filed a request with the PSCW in May 2023 for a limited electric and natural gas rate case re-opener. Our limited electric rate case re-opener included updated fuel costs and revenue requirements for the generation projects that were previously approved by the PSCW and were placed into service in 2023 or were expected to be placed into service in 2024. It also included the projected savings from the retirement of the OCPP Units 5 and 6, which were retired in May 2024. Our limited natural gas rate case re-opener reflected the additional revenue requirements associated with our previously approved LNG project that was placed into service in November 2023.

In December 2023, the PSCW issued a final written order approving electric and natural gas rate increases, effective January 1, 2024. The final orders reflected the following:

| 2024 incremental rate increases |     |   |      |         |   |     |      |
|:--------------------------------|:----|:--|-----:|:--------|:--|:----|:-----|
| Electric(1)                     |     | $ | 82.2 | million | / |     | 2.5% |
| Gas                             |     | $ | 23.9 | million | / |     | 4.5% |

(1) Amount reflects the impact to our Wisconsin retail electric operations and includes the incremental increase from updated fuel costs.

Our ROE and common equity component average were not addressed in the limited rate case re-opener.

#### 2023 and 2024 Rates
In April 2022, we filed a request with the PSCW to increase our retail electric, natural gas, and steam rates. Our request was updated in July 2022 to reflect new developments that impacted the original proposal. The requested increase in electric rates was driven by capital investments in new wind, solar, and battery storage; capital investments in natural gas generation; reliability investments, including grid hardening projects to bury power lines and strengthen our distribution system against severe weather; and changes in wholesale business with other utilities. Many of these investments had already been approved by the PSCW. The requested increase in natural gas rates primarily related to capital investments previously approved by the PSCW, including LNG storage for our natural gas distribution system.

| Wisconsin Electric