Company: WELPM
Filing Date: 2025-12-03
Form Type: 424B2
Source: 0001104659-25-118058
Chunk: 8

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-12-03
Form: 424B2
Chunk 8
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 integral multiples of $1,000 in excess thereof.

Redemption at Our Option

Prior to February 1, 2029 (the date
that is one month prior to the maturity date of the Debentures, which is referred to in this prospectus supplement as the “Par Call
Date”), we may redeem the Debentures at our option, in whole or in part, at any time and from time to time, at a redemption price
(expressed as a percentage of principal amount and rounded to three decimal places) equal to the greater of:

| · | (1) (a) the sum of the present values of the remaining scheduled                                                                              
 payments of principal and interest thereon discounted to the redemption date (assuming the Debentures matured on the Par Call Date) on        
 a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 10 basis points, less (b) interest 
 accrued to, but not including, the date of redemption; and                                                                                    |

| · | (2) 100% of the principal amount of the Debentures to be redeemed, |

plus, in either case, accrued and unpaid interest thereon
to, but not including, the redemption date.

On or after the Par Call Date, 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.

“Treasury Rate” means, with
respect to any redemption date, the yield determined by us in accordance with the following two paragraphs.

<div align='center'>S-5</div>

The
Treasury Rate shall be determined by us after 4:15 p.m., New York City time (or after such time as yields on U.S. government
securities are posted each business day by the Board of Governors of the Federal Reserve System), on the third business day
preceding the redemption date based upon the yield or yields for the most recent day that appear after such time on such day in the
most recent statistical release published by the Board of Governors of the Federal Reserve System designated as “Selected
Interest Rates (Daily) - H.15” (or any successor designation or publication) (“H.15”) under the caption
“U.S. government securities–Treasury