Company: WELPM
Filing Date: 2025-09-18
Form Type: 424B5
Source: 0001104659-25-091050
Chunk: 8

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-09-18
Form: 424B5
Chunk 8
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 date equal to the relevant number of months or years, as applicable, of such Treasury constant maturity
from the redemption date.

<div align='center'>S-5</div>

If on the third business day preceding
the redemption date H.15 TCM is no longer published, we shall calculate the Treasury Rate based on the rate per annum equal to the semiannual
equivalent yield to maturity at 11:00 a.m., New York City time, on the second business day preceding such redemption date of the United
States Treasury security maturing on, or with a maturity that is closest to, the Par Call Date, as applicable. If there is no United States
Treasury security maturing on the Par Call Date but there are two or more United States Treasury securities with a maturity date equally
distant from the Par Call Date, one with a maturity date preceding the Par Call Date and one with a maturity date following the Par Call
Date, we shall select the United States Treasury security with a maturity date preceding the Par Call Date. If there are two or more United
States Treasury securities maturing on the Par Call Date or two or more United States Treasury securities meeting the criteria of the
preceding sentence, we shall select from among these two or more United States Treasury securities the United States Treasury security
that is trading closest to par based upon the average of the bid and asked prices for such United States Treasury securities at 11:00
a.m., New York City time. In determining the Treasury Rate in accordance with the terms of this paragraph, the semiannual yield to maturity
of the applicable United States Treasury security shall be based upon the average of the bid and asked prices (expressed as a percentage
of principal amount) at 11:00 a.m., New York City time, of such United States Treasury security, and rounded to three decimal places.

Our actions and determinations in determining
the redemption price shall be conclusive and binding for all purposes, absent manifest error.

We will send notice at least 10 days,
but not more than 60 days, before the redemption date to each holder of Debentures to be redeemed.

Unless we default in payment of the redemption
price, on and after the redemption date interest will cease to accrue on the Debentures or portions of the Debentures called for redemption.

Except in the case
of a conditional redemption, as discussed below, once notice of redemption is given, the Debentures called for redemption become due and
payable on