Company: WELPM
Filing Date: 2025-03-27
Form Type: DEF 14C
Source: 0000107815-25-000155
Chunk: 124

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-03-27
Form: DEF 14C
Chunk 124
---
PEB costs.

| Wisconsin Electric Power Company |     | B-25 |     | 2024 Annual Financial Statements |

Pension and OPEB plan assets are primarily made up of equity and fixed income investments. Fluctuations in actual equity and fixed income market returns, as well as changes in general interest rates, may result in increased or decreased benefit costs in future periods. Changes in benefit costs are mitigated through the requirement that we implement escrow accounting treatment for pension and OPEB costs in 2023 and 2024, as required by the December 2022 rate order issued by the PSCW. See Note 24, Regulatory Environment, for more information on our 2023 and 2024 rates.

The following table shows how a given change in certain actuarial assumptions would impact the projected benefit obligation and the reported net periodic pension cost (including amounts capitalized to our balance sheets). Each factor below reflects an evaluation of the change based on a change in that assumption only.

| Actuarial Assumption              
 (in millions, except percentages) |     | Percentage-Point  Change in Assumption |     | Impact on Projected Benefit Obligation |       |     |     | Impact on 2024 
 Pension Cost   |      |
|:----------------------------------|:----|---------------------------------------:|:----|:---------------------------------------|------:|:----|:----|:---------------|-----:|
| Discount rate                     |     |                                   -0.5 |     | $                                      |  30.5 |     |     | $              |  2.1 |
| Discount rate                     |     |                                    0.5 |     |                                        | -29.0 |     |     |                | -1.9 |
| Rate of return on plan assets     |     |                                   -0.5 |     |                                        |       | N/A |     |                |  4.7 |
| Rate of return on plan assets     |     |                                    0.5 |     |                                        |       | N/A |     |                | -4.7 |

The following table shows how a given change in certain actuarial assumptions would impact the accumulated OPEB obligation and the reported net periodic OPEB cost (including amounts capitalized to our balance sheets). Each factor below reflects an evaluation of the change based on a change in that assumption only.

| Actuarial Assumption              
 (in millions, except percentages) |     | Percentage-Point  Change