Company: WELPM
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0000107815-25-000204
Chunk: 16

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 2
Chunk 16
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.1 million during the six months ended June 30, 2025, compared with the same period in 2024, driven by:

•A $161.7 million decrease in cash related to higher payments for other operation and maintenance expenses, driven by the timing of payments for accounts payable during the six months ended June 30, 2025, compared with the same period in 2024, as well as higher transmission costs.

•A $9.2 million decrease in cash from higher payments for interest driven by the issuance of long-term debt in 2024.

These decreases in net cash provided by operating activities were partially offset by:

•A $58.3 million increase in cash from higher overall collections from customers during the six months ended June 30, 2025, compared with the same period in 2024. This increase was driven by the impact of our rate order approved by the PSCW, effective January 1, 2025, a higher per-unit cost of natural gas, and higher sales volumes from the impact of colder weather during the six months ended June 30, 2025, compared with the same period in 2024.

•A $51.7 million increase in cash from lower cash paid for income taxes driven by lower taxable income during the six months ended June 30, 2025, compared with the same period in 2024.

•An $11.1 million increase in cash driven by collateral received from counterparties during the six months ended June 30, 2025, compared with collateral paid to counterparties during the same period in 2024, as well as realized gains on derivative instruments recognized during the six months ended June 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 $205.1 million during the six months ended June 30, 2025, compared with the same period in 2024, driven by a $320.8 million increase in cash paid for capital expenditures during the six months ended June 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 $98.2 million. See Note 2, Acquisition, for more information.

•A $26.9 million increase in cash received from ATC