Company: WELPM
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0000107815-25-000204
Chunk: 50

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 1
Chunk 50
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 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 $639.3 million at June 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.

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 subsidiaries. See Note 11, Common Equity, in our 2024 Annual Report on Form 10-K for additional information on these and other restrictions.We do not believe that these restrictions will materially affect our operations or limit any dividend payments in the foreseeable future.

NOTE 8—SHORT-TERM DEBT AND LINES OF CREDIT

The following table shows our short-term borrowings and their corresponding weighted-average interest rates:(in millions, except percentages)June 30, 2025December 31, 2024Commercial paperAmount outstanding$174.5 $179.9 Weighted-average interest rate on amounts outstanding4.54 %4.63 %Our average amount of commercial paper borrowings based on daily outstanding balances during the six months ended June 30, 2025 was $101.2 million with a weighted-average interest rate during the period of 4.56%.

06/30/2025 Form 10-Q12Wisconsin Electric Power Company

The information in the table below relates to our revolving credit facility used to support our commercial paper borrowing program, including available capacity under this facility:(in millions)MaturityJune 30, 2025Revolving credit facilitySeptember 2026$500.0 Less: Letters of credit issued inside credit facility1.0 Commercial paper outstanding 174.5 Available capacity under existing credit facility $324.5 

NOTE 9—LONG-TERM DEBT

In June 2025,