Company: WELPM
Filing Date: 2025-12-02
Form Type: 424B5
Source: 0001104659-25-117538
Chunk: 4

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-12-02
Form: 424B5
Chunk 4
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 of the Debentures — Covenants.”                                                                                                                                                                                                                                                                                                                                                                      |
| Use of Proceeds        | We will use the estimated $         million in net proceeds from this offering to repay short-term debt and for other general corporate purposes. See “Use of Proceeds.”                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| Conflicts of Interest  | Certain of the underwriters or their affiliates may hold a portion of the short-term debt that we may repay using all or a portion of the net proceeds of the Debentures, which could result in one or more of the underwriters or their affiliates receiving 5% or more of the net proceeds of this offering. See “Underwriting (Conflicts of Interest) — Conflicts of Interest” in this prospectus supplement.                                                                                                                                                                                                                                                                                                                                                |
| Trustee                | The trustee under the indenture (the “Trustee”) is U.S. Bank Trust Company, National Association.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |

<div align='center'>S-2

RISK FACTORS</div>

Investing in the Debentures involves
risk. Please see the risk factors under the heading “Risk Factors” in Item 1A of our Annual Report on Form 10-K for the year
ended December 31, 2024 and in Item 1A of our Quarterly Report on Form 10-Q for the quarter ended September 30, 2025, which are incorporated
by reference in this prospectus supplement and the accompanying prospectus. Before making an investment decision, you should carefully
consider these risks as well as other information contained or incorporated by reference in this prospectus supplement and the accompanying
prospectus.

<div align='center'>FORWARD-LOOKING STATEMENTS AND CAUTIONARY FACTORS</div>

We have included or may include statements
in this prospectus supplement and the accompanying prospectus (including documents incorporated by reference) that constitute forward-looking
statements within the meaning of Section 27A of the Securities Act of 1933, as amended (“Securities Act”), and Section 21E
of the Securities Exchange Act of 1934, as amended (“Exchange Act”). Any statements that express, or involve discussions as
to, expectations, beliefs, plans, objectives, goals, strategies, assumptions or future events or performance may be forward-looking statements.
Also, forward-looking statements may be identified by reference to a future period or periods or by the use of forward-looking terminology
such as “anticipates,” “believes,”