Company: WELPM
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0000107815-25-000207
Chunk: 95

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 1
Chunk 95
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 during the nine months ended September 30, 2025, compared with the same period in 2024.

•A $5.2 million increase in cash driven by lower collateral paid to counterparties during the nine months ended September 30, 2025, compared with the same period in 2024, as well as realized gains on derivative instruments recognized during the nine months ended September 30, 2025, compared with realized losses on derivative instruments recognized during the same period in 2024.

Investing Activities

Net cash used in investing activities increased $774.4 million during the nine months ended September 30, 2025, compared with the same period in 2024, driven by a $903.1 million increase in cash paid for capital expenditures during the nine months ended September 30, 2025, which is discussed in more detail below. 

This increase in net cash used in investing activities was partially offset by:

•The acquisition of an additional 13.7% ownership interest in West Riverside in May 2024 for $97.9 million. See Note 2, Acquisition, for more information.

•A $26.9 million increase in cash received from ATC during the nine months ended September 30, 2025, compared with the same period in 2024, for the reimbursement of transmission infrastructure upgrades. 

09/30/2025 Form 10-Q41Wisconsin Electric Power Company

Capital Expenditures

Capital expenditures for the nine months ended September 30 were as follows:

(in millions)20252024Change in 2025 Over 2024Capital expenditures$1,891.1 $988.0 $903.1 

The increase in cash paid for capital expenditures during the nine months ended September 30, 2025, compared with the same period in 2024, was driven by higher payments for renewable energy projects, CTs at OCPP, and for our electric and natural gas distribution systems. 

See Capital Resources and Requirements – Capital Requirements – Significant Capital Projects for more information.

Financing Activities

Net cash provided by financing activities increased $540.0 million during the nine months ended September 30, 2025, compared with the same period in 2024, driven by:

•Equity contributions of $1,085.0 million received from our parent during the nine months ended September 30, 2025, to balance our capital structure. There were no equity contributions received from our parent during the same