Company: WELPM
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0000107815-25-000204
Chunk: 89

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 1
Chunk 89
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52024Change in 2025 Over 2024Cash provided by (used in):Operating activities$567.7 $616.8 $(49.1)Investing activities(847.0)(641.9)(205.1)Financing activities280.9 18.2 262.7 

06/30/2025 Form 10-Q37Wisconsin Electric Power Company

Operating Activities

Net cash provided by operating activities decreased $49.1 million during the six months ended June 30, 2025, compared with the same period in 2024, driven by:

•A $161.7 million decrease in cash related to higher payments for other operation and maintenance expenses, driven by the timing of payments for accounts payable during the six months ended June 30, 2025, compared with the same period in 2024, as well as higher transmission costs.

•A $9.2 million decrease in cash from higher payments for interest driven by the issuance of long-term debt in 2024.

These decreases in net cash provided by operating activities were partially offset by:

•A $58.3 million increase in cash from higher overall collections from customers during the six months ended June 30, 2025, compared with the same period in 2024. This increase was driven by the impact of our rate order approved by the PSCW, effective January 1, 2025, a higher per-unit cost of natural gas, and higher sales volumes from the impact of colder weather during the six months ended June 30, 2025, compared with the same period in 2024.

•A $51.7 million increase in cash from lower cash paid for income taxes driven by lower taxable income during the six months ended June 30, 2025, compared with the same period in 2024.

•An $11.1 million increase in cash driven by collateral received from counterparties during the six months ended June 30, 2025, compared with collateral paid to counterparties during the same period in 2024, as well as realized gains on derivative instruments recognized during the six months ended June 30, 2025, compared with realized losses on derivative instruments recognized during the same period in 2024.

Investing Activities

Net cash used in investing activities increased $205.1 million during the six months ended June 30, 2025, compared with the same period in 2024, driven by a $320.8 million