Company: WELPM
Filing Date: 2025-09-18
Form Type: 424B5
Source: 0001104659-25-091050
Chunk: 44

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-09-18
Form: 424B5
Chunk 44
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 provide cash at the times and in the amounts necessary to pay the principal and interest when due on all debt   
 securities of that series to maturity or redemption, as the case may be; and                                                             |

| ● | comply with certain other conditions. In particular, we must obtain an opinion of tax counsel that the defeasance will not result 
 in recognition of any income, gain or loss to holders for federal income tax purposes.                                            |

U.S. government obligations are direct obligations
of (a) the United States or (b) an agency or instrumentality of the United States, the payment of which is unconditionally guaranteed
by the United States, which, in either case (a) or (b), have the full faith and credit of the United States pledged for payment and
which are not callable at the issuer’s option. This term also includes certificates representing an ownership interest in those
obligations. (Section 8.02)

Regarding the Trustee

Unless otherwise indicated in a prospectus supplement,
U.S. Bank Trust Company, National Association (as successor to Firstar Trust Company) will act as trustee and registrar for
debt securities issued under the indenture, and the trustee will also act as transfer agent and paying agent with respect to the debt
securities. (Section 2.03) We may remove the trustee with or without cause if we notify the trustee six months in advance and if
no default occurs or is continuing during the six-month period. If the trustee resigns or is removed or if a vacancy exists in the office
of trustee for any reason, the indenture provides that we must promptly appoint a successor trustee. (Section 7.07) The trustee,
in its individual or any other capacity, may make loans to, accept deposits from, and perform services for us or our affiliates, and may
otherwise deal with us or our affiliates, as if it were not the trustee. (Section 7.02) The trustee is also trustee under the first
mortgage bond indenture and provides services for us and some of our affiliates, including WEC Energy Group, as a depository of funds,
registrar, member of bank groups providing back-up credit facilities and term loans to us and our affiliates, trustee under other indentures
and similar services.

Governing Law

The indenture and the debt securities will be governed
by and construed in accordance with the laws of the State of Wisconsin, except to the extent that the Trust Indenture Act of