Company: WELPM
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0000107815-25-000207
Chunk: 113

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 8
Chunk 113
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 30, 2024, compared to January 1, 2024, largely driven by customer write-offs related to the winter moratorium months ending. After a customer is disconnected for a period of time without payment on their account, we will write off that customer balance. The winter moratorium begins on November 1 and ends on April 15. Also contributing to the decrease in the allowance for credit losses, were lower required reserve percentages as a result of an improvement in loss rates. We also believe that the lower energy costs that customers were seeing, which were driven by warmer than normal weather conditions in the first half of 2024 and low average natural gas prices, contributed to a reduction in past due accounts receivable balances and a related decrease in the allowance for credit losses.

09/30/2025 Form 10-Q11Wisconsin Electric Power Company

NOTE 5—REGULATORY ASSETS AND LIABILITIES

The following regulatory assets and liabilities were reflected on our balance sheets at September 30, 2025 and December 31, 2024. For more information on our regulatory assets and liabilities, see Note 7, Regulatory Assets and Liabilities, in our 2024 Annual Report on Form 10-K.(in millions)September 30, 2025December 31, 2024Regulatory assetsWe Power finance leases$1,154.8 $1,139.1 Plant retirement related items643.8 655.1 Income tax related items403.9 364.6 Pension and OPEB costs313.7 343.1 Uncollectible expense102.2 108.4 System support resource95.2 102.9 Securitization69.6 76.5 Asset retirement obligations58.3 52.8 Other finance and operating leases (1) 21.7 15.1 Bluewater Natural Gas Holding, LLC15.8 21.1 Other, net66.5 67.6 Total regulatory assets$2,945.5 $2,946.3 (1)In accordance with ASC Subtopic 980-842, Regulated Operations – Leases (Subtopic 980-842), the timing of expense recognition associated with our leases is modified to conform to the rate treatment. The difference between this lease expense and the unadjusted lease expense calculated under Topic 842 is deferred as a regulatory asset on our balance sheets in accordance with Sub