Company: WELPM
Filing Date: 2025-03-27
Form Type: DEF 14C
Source: 0000107815-25-000155
Chunk: 197

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-03-27
Form: DEF 14C
Chunk 197
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 OPEB costs in 2023 and 2024. As a result, we defer as a regulatory asset or liability, the difference between actual pension and OPEB costs and those included in rates until recovery or refund is authorized in a future rate proceeding.

• As discussed above, we were authorized to file a limited electric and natural gas rate case re-opener for 2024.

#### 2022 Rates
In March 2021, we filed an application with the PSCW for the approval of certain accounting treatments that allowed us to maintain our electric, natural gas, and steam base rates through 2022 and forego filing a rate case for one year. In connection with the request, we also entered into an agreement, dated March 23, 2021, with various stakeholders. Pursuant to the terms of the agreement, the stakeholders fully supported the application. In September 2021, the PSCW issued a written order approving the application.

The final order reflected the following:

• We amortized, in 2022, certain previously deferred balances to offset approximately half of our forecasted revenue deficiency.

• We were able to defer any increases in tax expense due to changes in tax law that occurred in 2021 and/or 2022.

• We maintained our earnings sharing mechanism, with modification.

#### NOTE 25—OTHER INCOME, NET
Total other income, net was as follows for the years ended December 31:

|                                                      | (in millions) |   | 2024 |     |   | 2023 |     |   | 2022 |
|:-----------------------------------------------------|:--------------|:--|-----:|:----|:--|-----:|:----|:--|-----:|
| AFUDC-Equity                                         |               | $ | 46.0 |     | $ | 41.0 |     | $ | 18.8 |
| Non-service components of net periodic benefit costs |               |   | 24.3 |     |   | 24.1 |     |   | 33.8 |
| Interest income                                      |               |   |  9.8 |     |   |  1.1 |     |   |  0.1 |
| Other, net                                           |               |   | -1.1 |     |   |  2.6 |     |   | -3.3 |
| Other income, net                                    |               | $ |