Company: WELPM
Filing Date: 2025-09-19
Form Type: 424B2
Source: 0001104659-25-091569
Chunk: 6

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-09-19
Form: 424B2
Chunk 6
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 and unsubordinated indebtedness and other obligations
from time to time outstanding. As of June 30, 2025, we had approximately $3.9 billion aggregate principal amount of unsecured long-term
debt securities and commercial paper outstanding (excluding approximately $2.9 billion of obligations under finance leases).

Interest will accrue at the rate of 4.15%
per year for the Debentures. Interest will accrue from September 25, 2025, or from the most recent interest payment date to which
interest has been paid or provided for. Interest will be payable semi-annually in arrears to holders of record at the close of business
on the April 1 or October 1 immediately preceding the interest payment date. Interest payment dates will be April 15 and
October 15 of each year, beginning on April 15, 2026. Interest will be computed on the basis of a 360-day year consisting of
twelve 30-day months. The Debentures will mature on October 15, 2030.

If the maturity date or any interest
payment date or redemption date falls on a day that is not a business day, the payment due on the maturity date or such interest payment
date or redemption date, as applicable, will be made on the next succeeding business day without any interest or other payment in respect
of any such delay.

The Debentures will be issued only in
registered form in denominations of $2,000 and integral multiples of $1,000 in excess thereof.

Redemption at Our Option

Prior to September 15, 2030 (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