Company: WELPM
Filing Date: 2025-03-27
Form Type: DEF 14C
Source: 0000107815-25-000155
Chunk: 94

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-03-27
Form: DEF 14C
Chunk 94
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)                               |     |                        |  -1.8 |     |      |   5.6 |     |      |     — |     |              |   7.4 |     |              |  -5.6 |
| Other                                                       |     |                        |   2.0 |     |      |   0.6 |     |      |  20.4 |     |              |  -1.4 |     |              |  19.8 |
| Total other operation and maintenance                       |     |                      $ | 937.9 |     |    $ | 931.1 |     |    $ | 831.7 |     | $            |  -6.8 |     | $            | -99.4 |

(1) Represents transmission expense that we are authorized to collect in rates. The PSCW has approved escrow accounting for ATC and MISO network transmission expenses. As a result, we defer as a regulatory asset or liability, the difference between actual transmission costs and those included in rates until recovery or refund is authorized in a future rate proceeding. During 2024, 2023, and 2022, $366.8 million, $339.0 million, and $340.0 million, respectively, of costs were billed to us by transmission providers.

During 2022, we amortized $62.0 million of the regulatory liability associated with our transmission escrow to offset certain 2022 revenue deficiencies, as approved by the PSCW in order to forego filing for 2022 base rate increases. This amortization drove the lower transmission expense during 2022.

(2) Represents costs associated with the We Power generation units, including operating and maintenance costs we recognized. During 2024, 2023, and 2022, $115.8 million, $124.5 million, and $121.7 million, respectively, of costs were billed to or incurred by us related to the We Power generation units, with the difference in costs billed or incurred and expenses recognized, either deferred or deducted from the regulatory asset.

(3) Regulatory amortizations and other pass through expenses are substantially offset in margins and therefore do not have a significant impact on net income. Effective January 1, 2023, the PSCW approved escrow accounting for pension and OPEB costs. As a result, we defer as a regulatory asset or liability, the difference between these actual costs and those