HighGravityData
Companies / WEC Energy Group / Filing

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
Wisconsin Electric Capital Projection
“$4,670.5”
Period
FY2027
Measure
Company-defined measure
Source
Guidance table
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
– 10 years 12/15/21 Thunderhead Wind Energy Center 90% ownership Verizon, GM, Ultium Cells LLC, and a Fortune 100 Company – 12 years 11/16/22 Sapphire Sky Wind Energy Center 90% ownership Microsoft Corp – 12 years 2/7/23 Samson I Solar Energy Center 90% ownership AT&T Corp – 15 years 80% on 2/24/23, 10% on 1/1/24 Maple Flats Solar Energy Center 90% ownership Verizon – 15 years 11/21/24 Delilah I Solar Energy Center 90% ownership Honda and Tesla – 15 years 12/3/24 Hardin Solar III Energy Center 90% ownership Microsoft Corp – 15 years 2/11/25 Infrastructure Investment Summary   38 Company 2026 2027 2028 Wisconsin Electric $3,212.1 $4,670.5 $4,666.0 Wisconsin Gas 257.5 296.3 257.7 Wisconsin Public Service 706.3 959.0 999.4 Upper Michigan Energy 47.1 26.7 26.6 Wisconsin Segment $4,223.0 $5,952.5 $5,949.7 Peoples Gas 512.7 680.7 700.0 North Shore Gas 53.9 57.7 44.0 Illinois Segment $566.6 $738.4 $744.0 Minnesota Energy Resources 62.8 67.3 77.7 Michigan Gas Utilities 52.2 43.2 47.8 Other States Segment $115.0 $110.5 $125.5 We Power 96.3 130.9 122.7 Bluewater 1.9 1.6 2.3 Infrastructure Investments 0.0 0.0 0.0 Nonutility Energy Infrastructure $98.2 $132.5 $125.0 Corporate and Other $15.3 $15.6 $21.4 Subtotal $5,018.1 $6,949.5 $6,965.6 ATC Investment* $656.9 $802.0 $886.1 Total WEC Capital Projection $5,675.0 $7,751.5 $7,851.7 Capital Plan Projections ($ in millions) * ATC is accounted for using the equity method; this represents WEC Energy Group’s portion of the investment.   39 Composition of Asset Base Total 2024 Average Asset Base of $30.8 Billion Note: We Power value represents investment book value for lease calculation purposes. Company Asset Base - $B % of Total Wisconsin Electric $9.0 29.2% Wisconsin Gas 2.2 7.1 Wisconsin Public Service 4.8 15.6 Upper Michigan Energy Resources 0.4 1.3 Peoples Gas 4.5
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.