Company: WELPM
Filing Date: 2025-09-18
Form Type: 424B5
Source: 0001104659-25-091050
Chunk: 21

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-09-18
Form: 424B5
Chunk 21
---
 a discount from the initial public offering price of up to %
of the principal amount of the Debentures. Any such securities dealers may resell any Debentures purchased from the underwriters to certain
other brokers or dealers at a discount from the initial public offering price of up to % of the principal amount of the Debentures. After
the initial public offering of the Debentures, the offering price and other selling terms may from time to time be varied by the representatives.
The offering of the Debentures by the underwriters is subject to receipt and acceptance and subject to the underwriters’ right to
reject any order in whole or in part.

The following table shows the underwriting
discount that we are to pay to the underwriters in connection with this offering (expressed as a percentage of the principal amount of
the Debentures).

|               |     | Paid by Wisconsin 
 Electric          |     |   |
| Per Debenture |     |                   |     | % |

In order to facilitate the offering
of the Debentures, the underwriters may engage in transactions that stabilize, maintain or otherwise affect the price of the
Debentures. Specifically, the underwriters may over-allot in connection with the offering, creating a short position in the
Debentures for their own account. In addition, to cover over-allotments or to stabilize the price of the Debentures, the
underwriters may bid for, and purchase, Debentures on the open market. Short sales involve the sale by the underwriters of a greater
number of Debentures than they are required to purchase in the offering. Stabilizing transactions consist of certain bids or
purchases made for the purpose of preventing or retarding a decline in the market price of the Debentures while the offering is in
progress. Finally, the underwriters may reclaim selling concessions allowed to an underwriter or a dealer for distributing the
Debentures in the offering, if the underwriters repurchase previously distributed Debentures in transactions to cover syndicate
short positions, in stabilization transactions or otherwise. Any of these activities may stabilize or maintain the market price of
the Debentures above independent market levels. The underwriters are not required to engage in these activities and may end any of
these activities at any time. These transactions may be effected in the over-the- counter market or otherwise.

<div align='center'>S-13</div>

The underwriters also may impose