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

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-12-03
Form: 424B2
Chunk 25
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 the creation of short
positions in our securities, including potentially the Debentures offered hereby. Any such credit default swaps or short positions
could adversely affect future trading prices of the Debentures offered hereby. The underwriters and their affiliates may also make
investment recommendations and/or publish or express independent research views in respect of such securities or financial
instruments and may hold, or recommend to clients that they acquire, long and/or short positions in such securities and
instruments.

We have agreed to indemnify the several
underwriters against certain liabilities, including liabilities under the Securities Act, or to contribute to payments that the underwriters
may be required to make because of any of those liabilities.

Conflicts of Interest

Certain of the underwriters or their
affiliates may hold a portion of the short-term debt that we intend to repay using all or a portion of the net proceeds of the Debentures.
In such event, it is possible that one or more of the underwriters or their affiliates could receive at least 5% of the net proceeds of
the offering, and in that case such underwriter would be deemed to have a conflict of interest under Financial Industry Regulatory Authority
(“FINRA”) Rule 5121 (Public Offerings of Securities with Conflicts of Interest). In the event of any such conflict of
interest, such underwriter would be required to conduct the distribution of the Debentures in accordance with FINRA Rule 5121. If
FINRA Rule 5121 is applicable, such underwriter would not be permitted to confirm a sale to an account over which it exercises discretionary
authority without first receiving specific written approval from the account holder.

<div align='center'>S-14</div>

Notices to Prospective Investors

This prospectus supplement and the accompanying
prospectus do not constitute an offer to sell to, or a solicitation of an offer to buy from, anyone in any country or jurisdiction (i) in
which such an offer or solicitation is not authorized, (ii) in which any person making such offer or solicitation is not qualified
to do so or (iii) in which any such offer or solicitation would otherwise be unlawful. No action has been taken that would, or is
intended to, permit a public offer of the Debentures or possession or distribution of this prospectus supplement or the accompanying prospectus
or any other offering or publicity material relating to the Debentures in any country or jurisdiction (other than the United