Company: WELPM
Filing Date: 2025-03-27
Form Type: DEF 14C
Source: 0000107815-25-000155
Chunk: 191

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-03-27
Form: DEF 14C
Chunk 191
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 owned or operated a manufactured gas plant or stored manufactured gas. We have also identified other sites that may have been impacted by historical manufactured gas plant activities. We are responsible for the environmental remediation of these sites. We are also working with the state of Wisconsin in our investigation and remediation planning. These sites are at various stages of investigation, monitoring, remediation, and closure.

The future costs for detailed site investigation, future remediation, and monitoring are dependent upon several variables including, among other things, the extent of remediation, changes in technology, and changes in regulation. Historically, our regulators have allowed us to recover incurred costs, net of insurance recoveries and recoveries from potentially responsible parties, associated with the remediation of manufactured gas plant sites. Accordingly, we have established regulatory assets for costs associated with these sites.

| Wisconsin Electric Power Company |     | B-64 |     | 2024 Annual Financial Statements |

We have established the following regulatory assets and reserves for manufactured gas plant sites as of December 31:

|                                                  | (in millions) |   | 2024 |     |   | 2023 |
|:-------------------------------------------------|:--------------|:--|-----:|:----|:--|-----:|
| Regulatory assets                                |               | $ | 10.8 |     | $ | 12.2 |
| Reserves for future environmental remediation(1) |               | $ | 10.6 |     | $ | 10.3 |

(1) Recorded within other long-term liabilities on our balance sheets.

Coal Combustion Residuals Rule – The EPA finalized a rule for CCR in April 2024 that would apply to landfills, historic fill sites, and projects where CCR was placed at a power plant site. The rule will regulate previously exempt closed landfills.

The final rule, which became effective in November 2024 will have an impact on some of our coal ash landfills, requiring additional remediation that is not currently required under the state programs. The rule is being challenged through litigation pending in the D.C. Circuit Court of Appeals. We expect the cost of the additional remediation would be recovered through future rates. See Note 10, Asset Retirement Obligations, for more information on the estimated cost of the additional remediation.

#### Renewables, Efficiency, and Conservation
Wisconsin Legislation – In 2005, Wisconsin enacted Act 141, which established a goal that 10% of all electricity consumed in Wisconsin be