Wisconsin was Wec Energy’s largest segment in fiscal 2025, bringing in $7.30B of $9.80B (74%).
| Segment | FY 2011 | FY 2012 | FY 2014 | FY 2015 | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Wisconsin | $6.96B | $6.63B | $6.33B | $7.30B | ||||||||||
| Utility Energy | — | — | — | — | ||||||||||
| Illinois | $1.89B | $1.56B | $1.60B | $1.68B | ||||||||||
| We Power | — | — | — | — | ||||||||||
| Other States | $618.50M | $519.10M | $449.80M | $527.50M | ||||||||||
| Non-Utility Energy | — | — | — | — | ||||||||||
| Non-Utility Energy Infrastructure | $127.00M | $190.10M | $217.20M | $293.50M | ||||||||||
| Corporate & Other | $500.00K | $100.00K | — | — | ||||||||||
| Reconciling Items | — | — | — | — | ||||||||||
| Reconciling Eliminations | — | — | — | — | ||||||||||
| Total | $9.60B | $8.89B | $8.60B | $9.80B |
Wec Energy brought in $9.80B from its four segments in fiscal 2025, the year ended December 31, 2025. That was up 14.0% from $8.60B in fiscal 2024. Wisconsin was the largest at $7.30B (74.4%), ahead of Illinois at $1.68B (17.2%) and Other States at $527.50M (5.4%). The remaining segment, Non-Utility Energy Infrastructure, brought in $293.50M.
Compared with fiscal 2024, Non-Utility Energy Infrastructure grew fastest, up 35.1% to $293.50M. Every segment above 2% of revenue grew.
Wec Energy stopped reporting Corporate & Other as a separate segment after fiscal 2023, when it brought in $100.00K.
External Revenues was Wec Energy’s largest revenue line in fiscal 2025, bringing in $7.30B of $7.30B (100%).
| Typesof Operating Revenues | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|
| External Revenues | $6.96B | $6.63B | $6.33B | $7.30B | ||
| Intersegment Transactions | — | — | — | — | ||
| Intersegment Revenues | $0 | $0 | $0 | $0 | ||
| Total | $6.96B | $6.63B | $6.33B | $7.30B |
Wec Energy brought in $7.30B from its two revenue lines in fiscal 2025, the year ended December 31, 2025. That is less than the $9.80B it reports by segment, so these revenue lines do not cover all of its revenue. External Revenues was the largest at $7.30B (100.0%).
External Revenues was Wec Energy’s largest revenue line in fiscal 2019, bringing in $5.74B of $5.74B (100%).
| Typesof Operating Revenues | FY 2016 | FY 2017 | FY 2018 | FY 2019 |
|---|---|---|---|---|
| External Revenues | $5.81B | $5.83B | $5.83B | $5.74B |
| Intersegment Transactions | $423.30M | $446.30M | $0 | $0 |
| Total | $6.23B | $6.28B | $5.83B | $5.74B |
Wec Energy brought in $5.74B from its two revenue lines in fiscal 2019, the year ended December 31, 2019. That was down 1.6% from $5.83B in fiscal 2018. External Revenues was the largest at $5.74B (100.0%).
From fiscal 2016 to 2019, combined revenue from these revenue lines fell from $6.23B to $5.74B, a compound annual decline of 2.7%. External Revenues' share of the total rose from 93.2% to 100.0%.
Wec Energy (WEC) reports its revenue by segment and by typesof operating revenues. In fiscal 2025, Wisconsin was its largest segment, bringing in $7.30B (74.4% of the total), followed by Illinois at $1.68B (17.2%).
Wisconsin was Wec Energy's largest segment in fiscal 2025, bringing in $7.30B, or 74.4% of the $9.80B total across its four segments.
External Revenues was Wec Energy's largest revenue line in fiscal 2025, bringing in $7.30B, or 100.0% of the $7.30B total across its two revenue lines.
Among Wec Energy's segments that make up at least 2% of revenue, Non-Utility Energy Infrastructure grew fastest in fiscal 2025, up 35.1% from $217.20M to $293.50M.
Every figure comes from Wec Energy's annual financial filings, as reported. Each line keeps the name Wec Energy gives it, and years follow its fiscal calendar.
Wec Energy's revenue by segment goes back to fiscal 2011, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.