WEC Energy Group Inc
wecenergygroup.comWhat Do They Do?
Generates and delivers electricity and distributes natural gas to households, businesses, and wholesale power buyers, and owns or invests in electric transmission and renewable generation.
10-K for FY2025, filed Feb 20, 2026We were incorporated in the state of Wisconsin in 1981 and became a diversified holding company in 1986. We maintain our principal…View ↗
WE generates and distributes electric energy to customers located in southeastern Wisconsin (including the metropolitan Milwaukee area)…View ↗
We provide wholesale electric service to various customers, including electric cooperatives, municipal joint action agencies, other…View ↗
ATC is a regional transmission company that owns, maintains, monitors, and operates electric transmission systems in Wisconsin, Michigan…View ↗
The non-utility energy infrastructure segment includes We Power, which owns and leases generating facilities to WE; Bluewater, which owns…View ↗
How Do They Make Money?
Utility customers pay regulated rates for electricity and natural gas, with bills generally monthly and variable charges tied to the amount delivered. Renewable buyers pay as energy is produced, while capacity and storage agreements bring monthly charges.
10-K for FY2025, filed Feb 20, 2026The transaction price of the performance obligations for residential and commercial and industrial customers is valued using the rates…View ↗
For all of our customers, consistent with the timing of when we recognize revenue, customer billings generally occur on a monthly basis…View ↗
The transaction price of the performance obligations for our natural gas customers is valued using the rates, charges, terms, and…View ↗
Consistent with the timing of when we recognize revenue, customer billings generally occur on a monthly basis, with payments typically due…View ↗
We have other natural gas operating revenues from Bluewater, which is in our non-utility energy infrastructure segment. Bluewater owns…View ↗
When recognizing revenue associated with these contracts, the transaction price is allocated to each performance obligation based on its…View ↗
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10-K for FY2025, filed Feb 20, 2026
FY2025 revenue by reportable segment ↗
$9.8B
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10-K for FY2025, filed Feb 20, 2026
$9.8B ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Total Utility Operations
Mix
10-K for FY2025, filed Feb 20, 2026 |
97%
FY2022: 99%
|
Total Utility Operations, FY2025
$9.5B Sources
|
Mix |
|
Non-Utility Energy Infrastructure
Mix
|
7.9%
FY2022: 6.2%
|
Non-Utility Energy Infrastructure, FY2025
$770.2M Sources
|
Mix |
|
Corporate and Other
|
0.0%
FY2022: <0.1%
|
Corporate and Other, FY2025
$0 Sources
|
Who Are Their Customers?
Households and businesses buy electricity and natural gas from the regulated utilities; wholesale power buyers include cooperatives, municipalities, utilities and energy marketers. Renewable generation is sold under agreements with outside buyers, and Bluewater provides storage services mainly to WEC utilities.
10-K for FY2025, filed Feb 20, 2026We provide electric utility service to a diversified base of customers in industries such as metals and other manufacturing, paper…View ↗
We provide wholesale electric service to various customers, including electric cooperatives, municipal joint action agencies, other…View ↗
We have other natural gas operating revenues from Bluewater, which is in our non-utility energy infrastructure segment. Bluewater owns…View ↗
Wind and solar generation revenues from WECI's ownership interests in renewable generation facilities continued to grow in 2025. See Note…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 16 cents of every revenue dollar as net income in FY2025.
10-K for FY2025, filed Feb 20, 2026
How Are They Changing?
10-Q for Q2 FY2026, filed Aug 4, 2026
Open tableView ↗
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Jul 29, 2026
Reaffirmed its 2026 earnings guidance
The earnings-per-share range remains $5.51 to $5.61, assuming normal weather for the rest of the year.
Sources
8-K, filed Jul 29, 2026
The company is reaffirming its 2026 earnings guidance of $5.51 to $5.61 per share. This assumes normal weather for the remainder of the…View ↗
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May 8, 2026
Chairman Gale Klappa completed board service
He completed service as Chairman of the Board on May 7, 2026.
Sources
8-K, filed May 8, 2026
Having reached the applicable retirement age under WEC Energy Group’s Corporate Governance Guidelines, Gale Klappa completed his service as…View ↗
Growing. Revenue grew 18% in 4 years, from $8.3B in FY2021 to $9.8B in FY2025, about 4% a year.
Serving large power users
The earlier report forecast flat electric peak demand; the latest describes plans to serve large-scale data centers and other projects with dedicated generation and distribution assets.
10-K for FY2022, filed Feb 23, 2023 10-K for FY2025, filed Feb 20, 2026Our service territory experienced slightly higher weather-normalized retail electric sales in 2022, compared with 2021, due to the growth…View ↗
We are engaged in discussions with a small number of customers to provide power to large-scale data centers being constructed in our…View ↗
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