Company: WELPM
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0000107815-25-000204
Chunk: 141

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 8
Chunk 141
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.7 Total sales in therms142.2 122.8 19.4 

Three Months Ended June 30Degree DaysWeather (1)20252024B (W)Heating (874 Normal)1,013 631 60.5 %Cooling (182 Normal)176 202 (12.9)%

(1)Normal degree days are based on a 20-year moving average of monthly temperatures from Mitchell International Airport in Milwaukee, Wisconsin.

06/30/2025 Form 10-Q31Wisconsin Electric Power Company

Gross Margin GAAP and Utility Margin Non-GAAP

The following table summarizes our utility segment gross margin (GAAP) and reconciles gross margin (GAAP) to utility margin (non-GAAP). See Non-GAAP Financial Measures above for additional information regarding gross margin (GAAP) and utility margin (non-GAAP).

Three Months Ended June 30(in millions)20252024B (W)Electric revenues$925.5 $835.1 $90.4 Natural gas revenues85.3 66.9 18.4 Operating revenues1,010.8 902.0 108.8 Operating expensesFuel and purchased power(286.4)(254.3)(32.1)Cost of natural gas sold(39.9)(25.6)(14.3)Other operation and maintenance (1)(196.4)(189.1)(7.3)Depreciation and amortization(156.3)(142.0)(14.3)Property and revenue taxes(29.6)(29.3)(0.3)Gross margin (GAAP)302.2 261.7 40.5 Other operation and maintenance (1)196.4 189.1 7.3 Depreciation and amortization156.3 142.0 14.3 Property and revenue taxes29.6 29.3 0.3 Utility margin (non-GAAP)$684.5 $622.1 $62.4 

(1)    Operating and maintenance expenses deemed to be directly attributable to our revenue-producing activities include plant operating and maintenance expenses related to our generating units; costs associated with the We Power generating units; and transmission, distribution and customer service expenses. These expenses are included in the above table to calculate gross margin as defined under GAAP. 

Gross margin (GAAP) at the utility