Company: WELPM
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000107815-25-000105
Chunk: 10

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-02-21
Form: 10-K
Item: Item 1
Chunk 10
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 – Utility Segment Contribution to Net Income Attributed to Common Shareholder for information on MWh sales by customer class.

We are authorized to provide retail electric service in designated territories in the state of Wisconsin, as established by indeterminate permits and boundary agreements with other utilities.

We provide wholesale electric service to various customers, including electric cooperatives, municipal joint action agencies, other investor-owned utilities, municipal utilities, and energy marketers.

The majority of our sales for resale are sold into an energy market operated by MISO at market rates based on the availability of our generation and market demand. Retail fuel costs are reduced by the amount that revenue exceeds the costs of sales derived from these opportunity sales.

2024 Form 10-K4Wisconsin Electric Power Company

Table of Contents

We buy and sell electric power by participating in the MISO Energy Markets. The cost of our individual generation offered into the MISO Energy Markets compared to our competitors affects how often our generating units are dispatched and whether we buy or sell power. For more information on the MISO Energy Markets, see C. Regulation.

Steam Sales

We have a steam utility that generates, distributes, and sells steam supplied by the VAPP to customers in metropolitan Milwaukee, Wisconsin. Steam is used by customers for processing, space heating, domestic hot water, and humidification. Annual sales of steam fluctuate from year to year based on system growth and variations in weather conditions.

Electric Sales Forecast

Our service territory experienced 0.3% higher weather-normalized retail electric sales in 2024, compared with 2023. We currently forecast retail electric sales volumes to increase 0.8% for 2025, assuming normal weather.

Customers

Year Ended December 31(in thousands)202420232022Electric customers – end of year Residential1,052.2 1,044.9 1,032.6 Small commercial and industrial120.6 119.3 117.6 Large commercial and industrial0.6 0.6 0.6 Wholesale and other1.6 1.6 1.6 Total electric customers – end of year1,175.0 1,166.4 1,152.4 Steam customers – end of year0.4 0.4 0.4 

Electric Commercial and Industrial Retail Customers

We provide electric utility service to a diversified base of customers in industries such as metals and other manufacturing, governmental, real estate, health services, and food manufacturing.

Electric Generation and