Company: WELPM
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0000107815-25-000184
Chunk: 124

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 8
Chunk 124
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 2025, compared with the same quarter in 2024, driven by a $214.9 million increase in cash paid for capital expenditures during the first quarter of 2025, which is discussed in more detail below. This increase in net cash used in investing activities was partially offset by a $26.9 million increase in cash received from ATC during the first quarter of 2025, compared with the same quarter in 2024, for the reimbursement of transmission infrastructure upgrades. 

Capital Expenditures

Capital expenditures for the three months ended March 31 were as follows:

(in millions)20252024Change in 2025 Over 2024Capital expenditures$417.9 $203.0 $214.9 

The increase in cash paid for capital expenditures during the first quarter of 2025, compared with the same quarter in 2024, was driven by higher payments for renewable energy projects and for our electric distribution system. 

See Capital Resources and Requirements – Capital Requirements – Significant Capital Projects for more information.

Financing Activities

Net cash related to financing activities increased $228.9 million during the first quarter of 2025, compared with the same quarter in 2024, driven by equity contributions of $300.0 million received from our parent during the first quarter of 2025, to balance our capital structure. There were no equity contributions received from our parent during the first quarter of 2024. This increase in cash was partially offset by a $68.0 million decrease in cash due to higher net repayments of commercial paper during the first quarter of 2025, compared with the same quarter in 2024.

03/31/2025 Form 10-Q33Wisconsin Electric Power Company

Other Significant Financing Activities

For more information on our other significant financing activities, see Note 7, Short-Term Debt and Lines of Credit. 

Cash Requirements

We require funds to support and grow our business. Our significant cash requirements primarily consist of capital and investment expenditures, payments to retire and pay interest on long-term debt, the payment of common stock dividends to our parent, and the funding of our ongoing operations. See the discussion below and Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations – Liquidity and Capital Resources – Cash Requirements in our 2024 Annual Report on Form 10-K for additional information regarding our significant cash requirements. 

Significant Capital Projects

We have several capital projects and acquisitions that will require significant capital expenditures over the