Wisconsin Electric Power Company is a regulated utility that provides electric and natural gas service to customers in Wisconsin. It is a subsidiary of WEC Energy Group and was incorporated in 1896. The company is headquartered in Milwaukee and engages in electricity generation, distribution, steam supply and natural gas delivery.
Revenue comes primarily from the sale of electricity to retail, wholesale and resale customers. Retail electric sales make up the largest share…
Wisconsin Electric Power Company is a regulated utility that provides electric and natural gas service to customers in Wisconsin. It is a subsidiary of WEC Energy Group and was incorporated in 1896. The company is headquartered in Milwaukee and engages in electricity generation, distribution, steam supply and natural gas delivery.
Revenue comes primarily from the sale of electricity to retail, wholesale and resale customers. Retail electric sales make up the largest share of electric operating revenues. The company also generates revenue from steam supplied to metropolitan Milwaukee customers. Natural gas sales and transportation services provide an additional source of income. Participation in the MISO Energy Markets allows the company to buy and sell power which affects net fuel costs and contributes to overall earnings.
The company operates through the following segments: Utility.
- Utility includes electric generation and distribution, steam supply and natural gas distribution and transportation services.
Wisconsin Electric Power Company holds a regulated monopoly position in its electric and natural gas service territories which provides predictable demand and stable cash flows. The company competes with other utilities for wholesale electricity sales and with alternative energy providers for retail customers. It also faces competition from self generation and third party suppliers. Competitive advantages include a diversified generation portfolio that balances coal, natural gas, nuclear and renewable resources. The company benefits from long term power purchase agreements such as the Point Beach PPA and from an expanding zero carbon generation fleet that includes wind, solar and battery storage projects.
The company serves approximately 1.18 million electric customers consisting of residential, small commercial and industrial, large commercial and industrial and wholesale accounts. Steam customers number about four thousand in the metropolitan Milwaukee area. Natural gas service reaches roughly 520 thousand residential, commercial and industrial and transportation customers. Specific customer names are not disclosed in the filing.