Company: WELPM
Filing Date: 2025-09-19
Form Type: 424B2
Source: 0001104659-25-091569
Chunk: 21

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-09-19
Form: 424B2
Chunk 21
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 Debentures offered by this prospectus supplement are subject to the
approval of certain legal matters by their counsel and to certain other conditions. The underwriters are obligated to take and pay for
all of the Debentures offered by this prospectus supplement if any are taken.

Debentures sold by the underwriters to
the public will initially be offered at the initial public offering price set forth on the cover page of this prospectus supplement.
Any Debentures sold by the underwriters to securities dealers may be sold at a discount from the initial public offering price of up to
0.35% of the principal amount of the Debentures. Any such securities dealers may resell any Debentures purchased from the underwriters
to certain other brokers or dealers at a discount from the initial public offering price of up to 0.25% of the principal amount of the
Debentures. After the initial public offering of the Debentures, the offering price and other selling terms may from time to time be varied
by the representatives. The offering of the Debentures by the underwriters is subject to receipt and acceptance and subject to the underwriters’
right to reject any order in whole or in part.

The following table shows the underwriting
discount that we are to pay to the underwriters in connection with this offering (expressed as a percentage of the principal amount of
the Debentures).

|               |     | Paid by            
 Wisconsin Electric |      |   |
| Per Debenture |     |                    | 0.60 | % |

In
order to facilitate the offering of the Debentures, the underwriters may engage in transactions that stabilize, maintain or
otherwise affect the price of the Debentures. Specifically, the underwriters may over-allot in connection with the offering,
creating a short position in the Debentures for their own account. In addition, to cover over-allotments or to stabilize the price
of the Debentures, the underwriters may bid for, and purchase, Debentures on the open market. Short sales involve the sale by the
underwriters of a greater number of Debentures than they are required to purchase in the offering. Stabilizing transactions consist
of certain bids or purchases made for the purpose of preventing or retarding a decline in the market price of the Debentures while
the offering is in progress. Finally, the underwriters may reclaim selling concessions allowed to an underwriter or a dealer for