Company: WELPM
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0000107815-25-000204
Chunk: 6

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 2
Chunk 6
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 expense121.3 120.4 (0.9)Income before income taxes139.8 109.2 30.6 Income tax expense21.0 23.6 2.6 Preferred stock dividend requirements0.3 0.3 — Net income attributed to common shareholder$118.5 $85.3 $33.2 

(1)    Cost of sales includes fuel and purchased power and cost of natural gas sold.

06/30/2025 Form 10-Q30Wisconsin Electric Power Company

The following table shows a breakdown of other operation and maintenance:

Three Months Ended June 30(in millions)20252024B (W)Operation and maintenance not included in line items below$91.1 $89.6 $(1.5)Transmission (1)94.4 89.5 (4.9)We Power (2)32.5 33.1 0.6 Regulatory amortizations and other pass through expenses (3)33.6 25.4 (8.2)Earnings sharing mechanism(1.8)(0.2)1.6 Total other operation and maintenance$249.8 $237.4 $(12.4)

(1)Represents transmission expense that we are authorized to collect in rates. The PSCW has approved escrow accounting for ATC and MISO network transmission expenses. As a result, we defer as a regulatory asset or liability, the difference between actual transmission costs and those included in rates until recovery or refund is authorized in a future rate proceeding. During the second quarter of 2025 and 2024, $104.3 million and $90.8 million, respectively, of costs were billed to us by transmission providers. 

(2)Represents costs associated with the We Power generation units, including operating and maintenance costs we recognized. During the second quarter of 2025 and 2024, $32.9 million and $29.3 million, respectively, of costs were billed to or incurred by us related to the We Power generation units, with the difference in costs billed or incurred and expenses recognized, either deferred or deducted from the regulatory asset.

(3)Regulatory amortizations and other pass through expenses are substantially offset in margins and therefore do not have a significant impact on net income.

The following tables provide information on delivered sales volumes by customer class and weather statistics:

Three Months Ended June