Company: WELPM
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000107815-25-000105
Chunk: 11

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-02-21
Form: 10-K
Item: Item 1
Chunk 11
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 Supply Mix

Our electric supply strategy is to provide our customers with energy from a diverse generation portfolio that is expected to balance a stable, reliable, and affordable supply of electricity with environmental stewardship. Through our participation in the MISO Energy Markets, we supply a significant amount of electricity to our customers from generation that we own or lease from We Power. We supplement our internally generated power supply with long-term PPAs, including the Point Beach PPA discussed under the heading "Power Purchase Commitments," and through spot purchases in the MISO Energy Markets. We also sell excess power supply into the MISO Energy Markets when it is economical, which reduces net fuel costs by offsetting costs of purchased power. All options, including owned generation resources and purchased power opportunities, are continually evaluated on a real time basis to select and dispatch the lowest-cost resources available to meet system load requirements.

2024 Form 10-K5Wisconsin Electric Power Company

Table of Contents

The table below indicates our sources of electric energy supply as a percentage of sales for the three years ended December 31, as well as estimates for 2025:

Estimate (1)Actual2025202420232022Company-owned or leased generation units:Coal22.7 %28.9 %30.6 %29.0 %Natural gas:Combined cycle27.1 %25.6 %28.4 %26.8 %Steam turbine0.8 %1.5 %1.2 %1.5 %Natural gas/oil peaking units5.8 %6.7 %3.5 %1.7 %Renewables (2)7.9 %5.1 %4.0 %4.7 %Total company-owned or leased generation units64.3 %67.8 %67.7 %63.7 %Power purchase contracts:Nuclear31.1 %30.6 %30.0 %30.3 %Natural gas— %— %— %3.3 %Renewables (2)0.7 %0.7 %0.8 %0.7 %Other— %— %0.2 %0.3 %Total power purchase contracts31.8 %31.3 %31.0 %34.6 %Purchased power from MISO3.9 %0