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WEC Energy Group — Jan 5, 2026 release

Fiscal 2025 fourth-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0000783325-26-000003
Open on SEC.gov ↗
Showing in the filing
Annual PRP Investment Ramp-Up
“$500 million”
Period
FY2028
Measure
Company-defined measure
Source
Prose
All guidance in this release · 123
EPS Midpoint for FY2026
“$5.56 per share”
Adjusted EPS - Non-GAAP Basis for FY2025
“$5.17 - $5.27”
EPS - 2025 Adjusted for FY2025
“$5.17 - $5.27”
Adjusted EPS for FY2026
“$5.51-$5.61”
Quarterly Dividend for Q1 FY2026
“95.25 cents per share”
Quarterly dividend on the company's common s… for Q1 FY2026
“95.25 cents per share”
Annualized Dividend Rate for FY2026
“$3.81 per share”
Dividend growth rate
“6.5-7%”
Dividend Growth Rate Target for the long term
“6.5-7%”
Dividend Payout Ratio Target for the long term
“65-70% of earnings”
Payout ratio
“65-70% of earnings”
Peoples Gas Typical Residential Customer Bil…
“$10 to $11 per month”
North Shore Gas Proposed ROE for FY2027
“10.10%”
North Shore Gas Proposed Equity Ratio for FY2027
“54.0%”
Peoples Gas Forecasted Rate Base for FY2027
“$4,678M”
North Shore Gas Forecasted Rate Base for FY2027
“$449M”
Peoples Gas Proposed Base Rate Increase for FY2027
“$202.2M”
North Shore Gas Proposed Base Rate Increase for FY2027
“$14.4M”
Electric for FY2028
“6.0%-7.0%”
Wisconsin Segment Electric Sales Growth Fore… for FY2028
“6.0%-7.0%”
Wisconsin Segment Gas Sales Growth Forecast for FY2028
“0.7%-1.0%”
Electric Demand Growth (Wisconsin Segment) for FY2026
“3.4 GW (~40%)”
Mount Pleasant Corridor Demand Forecast for FY2030
“2.1 GW”
Port Washington Corridor Demand Forecast for FY2030
“1.3 GW”
VLC Tariff Return on Equity
“Return on Equity range of 10.48% to 10.98%”
VLC Tariff Equity Ratio
“57%”
Natural Gas Generation Capital Increase for FY2026
“$3.4 billion increase”
Regulated Renewables Capital Increase for FY2026
“$2.5 billion increase”
Transmission Capital Increase for FY2026
“$900 million increase”
Electric Distribution Capital Increase for FY2026
“$200 million increase”
Pipe Retirement Program (PRP) Capital Increase for FY2026
“$1.5 billion increase”
WEC Infrastructure Capital Change for FY2026
“$400 million decrease”
Incremental Capital Plan Investment for FY2026
“$8.5 billion”
Long-Term EPS Growth for the long term
“7.0% to 8.0%”
Bluewater Capital Projection for FY2027
“$1.6”
Average Annual Utility Depreciation for FY2026–2030
“$1.6 billion annually”
Depreciation at utilities for FY2026
“$1.6 billion annually”
Average Annual ATC Depreciation for FY2026–2030
“$190 million”
Depreciation at ATC for FY2026
“$190 million”
Regulated Renewables Solar Capacity for FY2026
“3,700 MW”
Regulated Renewables Solar Investment for FY2026
“$7.6 billion”
Regulated Renewables Battery Storage Capacity for FY2026
“1,780 MW”
Regulated Renewables Battery Storage Investm… for FY2026
“$2.2 billion”
Regulated Renewables Wind Capacity for FY2026
“555 MW”
Regulated Renewables Wind Investment for FY2026
“$1.8 billion”
Regulated Renewables Grand Total Capacity for FY2026
“6,035 MW”
Regulated Renewables Grand Total Investment for FY2026
“$11.6 billion”
Thermal Generation Fleet and LNG Capacity In… for FY2026
“$7.4B”
Combustion Turbines Capacity for FY2026
“3,300 MW”
Combustion Turbines Investment for FY2026
“$5.2 billion”
RICE Generation Capacity for FY2026
“180 MW”
RICE Generation Investment for FY2026
“$240 million”
CCGT Summer Upgrades Capacity for FY2026
“150 MW”
CCGT Summer Upgrades Investment for FY2026
“$280 million”
Coal to Gas Conversions and Fuel Oil Backup … for FY2026
“$370 million”
Thermal Generation Fleet Investment for FY2026
“$6.1B”
LNG Storage Facilities Investment for FY2026
“$1.3B”
LNG Storage Facilities Capacity for FY2026
“6 Bcf”
ATC Projected Capital Expenditures for FY2026
“$1,095”
ATC Projected Capital Expenditures for FY2027
“$1,337”
ATC Projected Capital Expenditures for FY2028
“$1,477”
ATC Projected Capital Expenditures for FY2029
“$1,493”
ATC Projected Capital Expenditures for FY2030
“$1,502”
WEC Portion (60%) of ATC Capital Expenditures for FY2026
“$657”
WEC Portion (60%) of ATC Capital Expenditures for FY2029
“$896”
WEC Portion (60%) of ATC Capital Expenditures for FY2030
“$901”
ATC Economic Growth Capital Driver for FY2026
“$1.4 billion”
LRTP Tranche 1 Capital for FY2026
“$700 million”
LRTP Tranche 2 Capital for FY2026
“$400 million”
Additional ATC Investment Expected Beyond Plan for FY2031
“$800 million additional investment expected 2031 and beyond (2024 dollars)”
WEC portion of ATC investment for FY2026
“$4.1 billion”
Pipe Retirement Plan for FY2035
“over 1,000 miles”
Annual investment for pipe replacement for FY2028
“$500 million”
Annual PRP Investment Ramp-Up for FY2028
“$500 million”
Cash from Operations for FY2026
“$20.5 - $21.5”
Common Equity for FY2026
“$4.8 - $5.2”
Dividends (Cash Use) for FY2026
“$7.6 - $7.8”
Capital Plan (Cash Use) for the long term
“$32.3”
Incremental Debt for FY2026
“$13.7 - $14.3”
Incremental Debt - junior subordinated notes… for FY2026
“$5.0B - $6.0B”
S&P FFO to Debt Target for FY2026
“>15%”
Moody's CFO Pre-WC/Debt Target for FY2026
“>16%”
Oak Creek Units 7-8 Coal Retirement for FY2026
“611 MW”
Weston Unit 3 Coal Retirement for FY2031
“328 MW”
Coal Use as Backup Fuel Only for FY2030
“use coal only as a backup fuel”
Coal Elimination Goal for FY2032
“eliminate coal as an energy source”
Weston 4 Additional Capacity Acquisition
“165 MW”
Net Carbon Neutral Electric Generation Goal for FY2050
“net carbon neutral electric generation”
Capital Allocated to Regulated Businesses for FY2026
“100%”
Wisconsin Electric Capital Projection for FY2026
“$3,212.1”
Wisconsin Electric Capital Projection for FY2027
“$4,670.5”
Wisconsin Electric Capital Projection for FY2028
“$4,666.0”
Wisconsin Segment Capital Projection for FY2026
“$4,223.0”
Wisconsin Segment Capital Projection for FY2027
“$5,952.5”
Wisconsin Segment Capital Projection for FY2028
“$5,949.7”
Illinois Segment Capital Projection for FY2026
“$566.6”
Illinois Segment Capital Projection for FY2027
“$738.4”
Illinois Segment Capital Projection for FY2028
“$744.0”
Other States Segment Capital Projection for FY2026
“$115.0”
Other States Segment Capital Projection for FY2027
“$110.5”
Other States Segment Capital Projection for FY2028
“$125.5”
Nonutility Energy Infrastructure Capital Pro… for FY2026
“$98.2”
Nonutility Energy Infrastructure Capital Pro… for FY2027
“$132.5”
Nonutility Energy Infrastructure Capital Pro… for FY2028
“$125.0”
Corporate and Other Capital Projection for FY2026
“$15.3”
Corporate and Other Capital Projection for FY2027
“$15.6”
Corporate and Other Capital Projection for FY2028
“$21.4”
Subtotal Capital Projection for FY2026
“$5,018.1”
Subtotal Capital Projection for FY2027
“$6,949.5”
Subtotal Capital Projection for FY2028
“$6,965.6”
ATC Investment Capital Projection for FY2026
“$656.9”
ATC Investment Capital Projection for FY2027
“$802.0”
WEC Portion (60%) of ATC Capital Expenditures for FY2027
“$802”
ATC Investment Capital Projection for FY2028
“$886.1”
WEC Portion (60%) of ATC Capital Expenditures for FY2028
“$886”
Total WEC Capital Projection for FY2026
“$5,675.0”
Total WEC Capital Projection for FY2027
“$7,751.5”
Total WEC Capital Projection for FY2028
“$7,851.7”
Holding Company Planned Financing for FY2026
“$1,800 - $2,400”
Utilities & Energy Infrastructure Planned Fi… for FY2026
“$2,600 - $3,100”
Equity Issuances for FY2026
“$900 - $1,100”
Bluewater Capital Projection for FY2028
“$2.3”
EPS - GAAP basis for FY2025
“$4.83 - $4.93”
Exhibit 99.1 · the passage around this item
… earlier in the release
  22 Pipe Retirement Program (PRP)  Plan to retire over 1,000 miles of older, cast and ductile iron pipe (less than 36 inches in diameter)  Annual investment for pipe replacement expected to ramp up to $500 million in 2028  ICC ordered program to be complete by January 1, 2035 Illinois   23 Projected Cash Flows and Financing Plan ($ in billions) Cash from Operations $20.5 - $21.5 Common Equity $4.8 - $5.2 Dividends $7.6 - $7.8 Capital Plan $32.3 Cash Uses Cash Sources Incremental Debt 2 $13.7 - $14.3 1. Excludes ATC’s capital. ATC is accounted for using the equity method. 2. Includes $5.0B - $6.0B of junior subordinated notes or other securities with equity content. 2026-2030 1   24 Credit Quality — Maintaining a Healthy Balance Sheet Current Issuer Credit Ratings Entity S&P Rating Moody’s Rating WEC Energy Group A- Baa1 Wisconsin Electric A- A2 Wisconsin Gas A A3 Wisconsin Public Service A- A2 Peoples Gas A- A2 FFO/Debt Metrics 2026-2030 WEC Energy Group Target S&P FFO to Debt >15% Moody’s CFO Pre-WC/Debt >16%   25 Coal Generation  Since 2018, we have retired nearly 2,500 MW of fossil fuel generation  Retirements planned:  Oak Creek Units 7-8: 611 MW (targeting end of 2026)  Weston Unit 3: 328 MW (expected end of 2031)  Enhancing fuel flexibility (gas blending) at Oak Creek Power the Future units and Weston Unit 4*  Evaluating the future of C
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.