Company: WELPM
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0000107815-25-000184
Chunk: 36

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 36
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 straight-line basis using the composite depreciation rates approved by the PSCW.

03/31/2025 Form 10-Q11Wisconsin Electric Power Company

NOTE 6—COMMON EQUITY

Various financing arrangements and regulatory requirements impose certain restrictions on our ability to transfer funds to WEC Energy Group in the form of cash dividends, loans, or advances. In addition, Wisconsin law prohibits us from making loans to or guaranteeing obligations of WEC Energy Group or its subsidiaries. See Note 11, Common Equity, in our 2024 Annual Report on Form 10-K for additional information on these and other restrictions.We do not believe that these restrictions will materially affect our operations or limit any dividend payments in the foreseeable future.

NOTE 7—SHORT-TERM DEBT AND LINES OF CREDIT

The following table shows our short-term borrowings and their corresponding weighted-average interest rates:(in millions, except percentages)March 31, 2025December 31, 2024Commercial paperAmount outstanding$28.0 $179.9 Weighted-average interest rate on amounts outstanding4.52 %4.63 %Our average amount of commercial paper borrowings based on daily outstanding balances during the three months ended March 31, 2025 was $138.8 million with a weighted-average interest rate during the period of 4.56%.The information in the table below relates to our revolving credit facility used to support our commercial paper borrowing program, including available capacity under this facility:(in millions)MaturityMarch 31, 2025Revolving credit facilitySeptember 2026$500.0 Less: Letters of credit issued inside credit facility1.0 Commercial paper outstanding 28.0 Available capacity under existing credit facility $471.0 

NOTE 8—MATERIALS, SUPPLIES, AND INVENTORIES

Our inventories consisted of:(in millions)March 31, 2025December 31, 2024Materials and supplies$233.0 $252.1 Fossil fuel60.3 60.0 Natural gas in storage11.7 42.7 Total$305.0 $354.8 Substantially all materials and supplies, fossil fuel, and natural gas in storage inventories are recorded using the weighted-average cost method of accounting.

03/31/2025 Form 10-Q12Wisconsin Electric Power Company

NOTE 9—INCOME TAXES