Company: WELPM
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0000107815-25-000204
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Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 8
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 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 during the six months ended June 30, 2025, compared with the same period in 2024, for the reimbursement of transmission infrastructure upgrades. 

Capital Expenditures

Capital expenditures for the six months ended June 30 were as follows:

(in millions)20252024Change in 2025 Over 2024Capital expenditures$869.1 $548.3 $320.8 

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

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

06/30/2025 Form 10-Q38Wisconsin Electric Power Company

Financing Activities

Net cash provided by financing activities increased $262.7 million during the six months ended June 30, 2025, compared with the same period in 2024, driven by:

•Equity contributions of $710.0 million received from our parent during the six months ended June 30, 2025, to balance our capital