Company: WELPM
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0000107815-25-000207
Chunk: 50

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 1
Chunk 50
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 our larger customers to mitigate credit risk. We have included a table below that shows our gross third-party receivable balances and related allowance for credit losses.(in millions)September 30, 2025December 31, 2024Accounts receivable and unbilled revenues $578.4 $648.1 Allowance for credit losses31.7 46.9 Accounts receivable and unbilled revenues, net (1)$546.7 $601.2 Total accounts receivable, net – past due greater than 90 days (1)$29.0 $38.2 Past due greater than 90 days – collection risk mitigated by regulatory mechanisms (1)94.7 %93.8 %(1)Our exposure to credit losses for certain regulated utility customers is mitigated by a regulatory mechanism we have in place. Specifically, our residential tariffs include a mechanism for cost recovery or refund of uncollectible expense based on the difference between actual uncollectible write-offs and the amounts recovered in rates. As a result, at September 30, 2025, $346.7 million, or 63.4%, of our net accounts receivable and unbilled revenues balance had regulatory protections in place to mitigate the exposure to credit losses. 

09/30/2025 Form 10-Q10Wisconsin Electric Power Company

A rollforward of the allowance for credit losses is included below:Three Months Ended September 30(in millions)20252024Balance at July 1$32.9 $42.0 Provision for credit losses17.5 8.4 Provision for credit losses deferred for future recovery or refund1.8 7.9 Write-offs charged against the allowance(27.5)(23.7)Recoveries of amounts previously written off7.0 6.2 Balance at September 30$31.7 $40.8 Nine Months Ended September 30(in millions)20252024Balance at January 1$46.9 $44.5 Provision for credit losses47.2 23.6 Provision for credit losses deferred for future recovery or refund(6.2)28.6 Write-offs charged against the allowance(79.5)(75.2)Recoveries of amounts previously written off23.3 19.3 Balance at September 30$31.7 $40.8 There was a $15.2 million