Company: WELPM
Filing Date: 2025-12-03
Form Type: 424B2
Source: 0001104659-25-118058
Chunk: 1

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-12-03
Form: 424B2
Chunk 1
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911,000 |

| (1) | Plus accrued interest from December 5, 2025, if settlement occurs after that date. |

This prospectus supplement and the accompanying prospectus are not intended to constitute an offer to, and the Debentures should not be purchased, held or otherwise acquired by, a “specified foreign entity” as defined in Section 7701(a)(51)(B) of the Internal Revenue Code of 1986, as amended (an “SFE”). By purchasing Debentures, any investor in the Debentures (including all affiliated entities that participate in such purchase) will be deemed to represent and warrant to us that it is not, and will not be, for its taxable year that includes the date of the original issuance of the Debentures, an SFE.

On or about December 5, 2025, the
underwriters expect to deliver the Debentures in book-entry form only through the facilities of The Depository Trust Company for the accounts
of its participants, including Clearstream Banking S.A. (“Clearstream”) and Euroclear Bank SA/NV (“Euroclear”).

<div align='center'>Joint Book-Running Managers</div>

| BMO Capital Markets | Citigroup | KeyBanc Capital Markets |

<div align='center'>Co-Manager</div>

| Penserra Securities LLC |

<div align='center'>December 2, 2025</div>

You should rely only on the information contained or incorporated by reference in this prospectus supplement, the accompanying prospectus and any written communication from us or the underwriters specifying the final terms of the offering. We have not authorized anyone to provide you with different information. We are not, and the underwriters are not, making an offer of these securities in any jurisdiction where the offer is not permitted. You should assume that the information contained in this prospectus supplement, the accompanying prospectus or the documents incorporated by reference is accurate only as of their respective dates. Our business, financial condition, results of operations and prospects may have changed since those dates.

<div align='center'>TABLE OF CONTENTS</div>

Page

<div align='center'>Prospectus Supplement</div>

| Summary                                                              | S-1  |
| Risk Factors                                                         | S-3  |
| Forward-Looking Statements and Cautionary Factors                    | S-3  |
| Use of Proceeds                                                      | S-3  |
| Capitalization                                                       | S-4  |
| Certain Terms of the Deb