Company: WELPM
Filing Date: 2025-12-03
Form Type: 424B2
Source: 0001104659-25-118058
Chunk: 3

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-12-03
Form: 424B2
Chunk 3
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, 2024, as well as the other documents
incorporated by reference.

Our principal executive offices are
located at 231 West Michigan Street, Milwaukee, Wisconsin 53201. Our telephone number is (414) 221-2345.

<div align='center'>S-1</div>

The Offering

| Issuer                 
 Securities Offered     
 Interest               
 Interest Payment Dates | Wisconsin Electric Power Company.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
 $300,000,000 aggregate principal amount of 3.95% Debentures due March 1, 2029.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
 The Debentures will accrue interest at a rate of 3.95% per year from December 5, 2025 until maturity or earlier redemption, as the case may be.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
 March 1 and September 1, beginning March 1,                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
 2026.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|:-----------------------|:-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Optional Redemption    | Prior to February 1, 2029 (the date that is one month prior to the maturity date of the Debentures), we may redeem the Debentures at our option, in whole or in part, at any time and from time to time, at a “make-whole” redemption price determined as described under “Certain Terms of the Debentures — Redemption at Our Option.”  On or after February 1, 2029, we may redeem the Debentures, in whole or in part, at any time and from time to time, at a redemption price equal to 100% of the principal amount of the Debentures being redeemed plus accrued and unpaid interest thereon to, but not including, the redemption date. We are not required to establish a sinking fund to retire the Debentures prior to maturity. |
| Ranking                | The Debentures will be unsecured and unsubordinated and will rank equally with all our other unsecured and unsubordinated indebtedness and other obligations from time to time outstanding. See “Description of Debt Securities — Ranking of Debt Securities” in the accompanying prospectus.                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| Covenants              | The indenture governing the Debentures contains a covenant, which will apply to the Debentures, that will limit our ability to create liens on our assets. This covenant is subject to a number of important qualifications and limitations.