Company: WELPM
Filing Date: 2025-09-18
Form Type: 424B5
Source: 0001104659-25-091050
Chunk: 0

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-09-18
Form: 424B5
Chunk 0
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Filed Pursuant to Rule 424(b)(5)

Registration Statement No. 333-279581

The information in this preliminary prospectus
supplement is not complete and may be changed. This preliminary prospectus supplement and the accompanying prospectus are not an offer
to sell these securities, and we are not soliciting an offer to buy these securities, in any jurisdiction where the offer or sale is not
permitted.

<div align='center'>SUBJECT TO COMPLETION, DATED SEPTEMBER 18, 2025</div>

PRELIMINARY PROSPECTUS SUPPLEMENT

(To Prospectus dated June 5, 2024)

<div align='center'>$

WISCONSIN ELECTRIC POWER COMPANY

% Debentures due , 20</div>

Wisconsin Electric Power Company is
offering $ aggregate principal amount of
its % debentures due , 20 (the “Debentures”). We will pay
interest on the Debentures semi-annually in arrears on and of each year, beginning on , 2026. The
Debentures will be issued only in denominations of $2,000 and integral multiples of $1,000 in excess thereof. We may, at our option,
redeem some or all of the Debentures at any time prior to maturity at the redemption prices discussed under the caption
“Certain Terms of the Debentures — Redemption at Our Option.”

The Debentures will be unsecured and
will rank equally with all of our other unsecured and unsubordinated debt and other obligations from time to time outstanding.

Investing in the Debentures involves certain risks. See “Risk Factors” on page S-3 of this prospectus supplement.

We do not intend to apply for listing of the Debentures
on any securities exchange or automated quotation system.

Neither the Securities and Exchange Commission (the “SEC”) nor any state securities commission has approved or disapproved of these securities or determined if this prospectus supplement or the accompanying prospectus is truthful or complete. Any representation to the contrary is a criminal offense.

| Per Debenture |     | Public   
 Offering 
 Price(1) |     | % |     | Underwriting 
 Discount     |     | % |     | Proceeds  
 (before   
 expenses) |     | % |
|:--------------|:----|:---------|:----|:--|:----|:-------------|:----|:--|: