Company: WELPM
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0000107815-25-000207
Chunk: 114

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 8
Chunk 114
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topic 980-842. (in millions)September 30, 2025December 31, 2024Regulatory liabilitiesRemoval costs $848.2 $809.2 Income tax related items660.8 653.9 Pension and OPEB benefits110.9 118.5 Revenue requirements of renewable generation facilities18.9 37.9 Energy costs refundable through rate adjustments12.3 70.7 Electric transmission costs— 19.7 Other, net49.2 52.9 Total regulatory liabilities$1,700.3 $1,762.8 Balance sheet presentationOther current liabilities$3.5 $4.0 Regulatory liabilities1,696.8 1,758.8 Total regulatory liabilities$1,700.3 $1,762.8 

NOTE 6—PROPERTY, PLANT, AND EQUIPMENT

Plant to be RetiredOak Creek Power Plant Units 7-8As a result of a PSCW approval in December 2022 for the acquisition and construction of Darien Solar Park, the retirement of OCPP Units 7 and 8 became probable. Subsequently, we have received PSCW approval for several other renewable and other projects and have also acquired additional projects. On June 25, 2025, we announced plans to extend the lives of OCPP Units 7 and 8, and expect to have the units available to meet high energy demand periods through the end of 2026. These units were originally scheduled to be retired at the end of 2025. The total net book value of our ownership share of OCPP Units 7 and 8 was $630.4 million at September 30, 2025, which does not include deferred taxes. This amount was classified as plant to be retired within property, plant, and equipment on our balance sheet. These units are included in rate base, and we continue to depreciate them on a straight-line basis using the composite depreciation rates approved by the PSCW.

09/30/2025 Form 10-Q12Wisconsin Electric Power Company

NOTE 7—COMMON EQUITY

Various financing arrangements and regulatory requirements impose certain restrictions on our ability to transfer funds to WEC Energy Group in the form of cash dividends, loans, or advances. In addition, Wisconsin law prohibits us from making loans to or guaranteeing obligations of WEC Energy Group or its other subsidiaries