Company: WELPM
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0000107815-25-000204
Chunk: 17

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 2
Chunk 17
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 during the six months ended June 30, 2025, compared with the same period in 2024, for the reimbursement of transmission infrastructure upgrades. 

Capital Expenditures

Capital expenditures for the six months ended June 30 were as follows:

(in millions)20252024Change in 2025 Over 2024Capital expenditures$869.1 $548.3 $320.8 

The increase in cash paid for capital expenditures during the six months ended June 30, 2025, compared with the same period in 2024, was driven by higher payments for renewable energy projects, combustion turbines at OCPP, and for our natural gas and electric distribution systems. 

See Capital Resources and Requirements – Capital Requirements – Significant Capital Projects for more information.

06/30/2025 Form 10-Q38Wisconsin Electric Power Company

Financing Activities

Net cash provided by financing activities increased $262.7 million during the six months ended June 30, 2025, compared with the same period in 2024, driven by:

•Equity contributions of $710.0 million received from our parent during the six months ended June 30, 2025, to balance our capital structure. There were no equity contributions received from our parent during the same period in 2024. 

•A $154.9 million increase in cash due to lower net repayments of commercial paper during the six months ended June 30, 2025, compared with the same period in 2024.

These increases in cash were partially offset by:

•A $349.2 million decrease in cash due to the issuance of long-term debt during the six months ended June 30, 2024. We did not issue any long-term debt during the same period in 2025.

•A $250.1 million decrease in cash due to higher retirements of long-term debt during the six months ended June 30, 2025, compared with the same period in 2024.

Other Significant Financing Activities

For more information on our other significant financing activities, see Note 8, Short-Term Debt and Lines of Credit, and Note 9, Long-Term Debt.

Cash Requirements

We require funds to support and grow our business. Our significant cash requirements primarily consist of capital and investment expenditures, payments to retire and pay interest on long-term debt, the payment of common stock dividends to our parent, and the funding of our ongoing operations. See the discussion below and Item 7.