Company: WELPM
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0000107815-25-000204
Chunk: 108

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 8
Chunk 108
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)$30.8 $38.2 Past due greater than 90 days – collection risk mitigated by regulatory mechanisms (1)94.8 %93.8 %(1)Our exposure to credit losses for certain regulated utility customers is mitigated by a regulatory mechanism we have in place. Specifically, our residential tariffs include a mechanism for cost recovery or refund of uncollectible expense based on the difference between actual uncollectible write-offs and the amounts recovered in rates. As a result, at June 30, 2025, $350.3 million, or 56.4%, of our net accounts receivable and unbilled revenues balance had regulatory protections in place to mitigate the exposure to credit losses. 

06/30/2025 Form 10-Q10Wisconsin Electric Power Company

A rollforward of the allowance for credit losses is included below:Three Months Ended June 30(in millions)20252024Balance at April 1$37.9 $48.9 Provision for credit losses17.0 7.1 Provision for credit losses deferred for future recovery or refund(2.0)6.5 Write-offs charged against the allowance(28.8)(26.5)Recoveries of amounts previously written off8.8 6.0 Balance at June 30$32.9 $42.0 Six Months Ended June 30(in millions)20252024Balance at January 1$46.9 $44.5 Provision for credit losses29.7 15.2 Provision for credit losses deferred for future recovery or refund(8.0)20.7 Write-offs charged against the allowance(52.0)(51.5)Recoveries of amounts previously written off16.3 13.1 Balance at June 30$32.9 $42.0 There was a $14.0 million decrease in the allowance for credit losses at June 30, 2025, compared to January 1, 2025. The decrease was largely driven by customer write-offs, in addition to a decrease in past due account balances that we believe was related to a continued focus on collection efforts and the lower energy bills typically seen in the spring and summer months, enabling customers to pay down their arrears.There was a $2.5 million decrease in the allowance for credit losses at June 30, 2024, compared to January 1,