Company: WELPM
Filing Date: 2025-12-02
Form Type: 424B5
Source: 0001104659-25-117538
Chunk: 8

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-12-02
Form: 424B5
Chunk 8
---
 this
prospectus supplement as the “Par Call Date”), we may redeem the Debentures at our option, in whole or in part, at any time
and from time to time, at a redemption price (expressed as a percentage of principal amount and rounded to three decimal places) equal
to the greater of:

| · | (1) (a) the sum of the present values of the remaining scheduled                                                                       
 payments of principal and interest thereon discounted to the redemption date (assuming the Debentures matured on the Par Call Date) on 
 a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus                             
 basis points, less (b) interest accrued to, but not including, the date of redemption; and                                             |

| · | (2) 100% of the principal amount of the Debentures to be redeemed, |

plus, in either case, accrued and unpaid interest thereon to,
but not including, the redemption date.

On or after the Par Call Date, we may
redeem the Debentures, in whole or in part, at any time and from time to time, at a redemption price equal to 100% of the principal amount
of the Debentures being redeemed plus accrued and unpaid interest thereon to, but not including, the redemption date.

“Treasury Rate” means, with
respect to any redemption date, the yield determined by us in accordance with the following two paragraphs.

<div align='center'>S-5</div>

The Treasury Rate shall be
determined by us after 4:15 p.m., New York City time (or after such time as yields on U.S. government securities are posted each
business day by the Board of Governors of the Federal Reserve System), on the third business day preceding the redemption date based
upon the yield or yields for the most recent day that appear after such time on such day in the most recent statistical release
published by the Board of Governors of the Federal Reserve System designated as “Selected Interest Rates (Daily) - H.15”
(or any successor designation or publication) (“H.15”) under the caption “U.S. government
securities–Treasury constant maturities Nominal” (or any successor caption or heading) (“H.15 TCM”). In
determining the Treasury Rate, we shall select, as applicable: (1) the yield for the Treasury constant maturity on H.15 exactly