About Wisconsin Electric Power Company
WEC Energy Group keeps the lights illuminated and the gas fires burning for 4.5 million customers in Wisconsin, Illinois, Michigan, and Minnesota. The utility holding company serves energy through its eight regulated utilities, which together own more than 7,100 MW of electric generation capacity and thousands of miles of natural gas distribution. It also provides Milwaukee with steam for use in processing, hot water, and humidification. Its generation capacity includes four coal-fired and a dozen gas-fired plants as well as solar, wind, hydro, and biomass plants. WEC is the largest electric utility company in Wisconsin, serving residential customers as well as industries such as paper, metals, manufacturing, food, retail, health services, and education on a retail or wholesale basis.
WEC Energy Group operates six reportable segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure, and Corporate and Other.
The Wisconsin segment accounts for about 70% of total revenue and includes the electric and natural gas utility operations of Wisconsin Electric (WE), Wisconsin Gas (WG), Wisconsin Public Service Corporation (WPS), and UMERC.
The Illinois segment produces more than 15% of WEC's revenue and includes the natural gas utility and non-utility operations of The Peoples Gas Light and Coke Company (PGL) and North Shore Gas Company (NSG). PGL and NSG provide energy to Chicago and its northern suburbs. PGL also owns and operates a about 39 Bcf natural gas storage facility in central Illinois.
The Other States segment (about 5%) includes the natural gas utility and non-utility operations of Minnesota Energy Resources Corporation (MERC) and Michigan Gas Utilities Corporation (MGU).
The for-profit Non-Utility Energy Infrastructure segment includes We Power, which owns and leases generating facilities; underground natural gas storage unit Bluewater; and WEC's majority interests in the Bishop Hill III, Coyote Ridge, and Upstream wind generating facilities. The segment generates over 5% of revenue.
The Electric Transmission comprises a 60% stake in American Transmission Company LLC (ATC), which owns, maintains, monitors, and operates electric transmission systems throughout WEC's service territory. It generates revenue on an equity basis. The Corporate and Other segment contains immaterial miscellaneous other units.
WEC owns more than 70,600 miles of electric distribution lines and about 50,700 miles of n natural gas distribution and transmission lines. The company generates 70% of its energy needs and purchases the rest through power purchase agreements. Of its owned plants about 35% of energy is sourced from coal, nearly 30% from natural gas, and less than 5% from renewables. Most of the purchased power is nuclear sourced.
Most of Milwaukee-based WEC Energy Group's customers are in Wisconsin, particularly in the eastern portion of the state. It also has customers in southern Michigan, including its Upper Peninsula; Chicago; and in various bits of Minnesota.
Sales and Marketing
WEC provide electric utility service to a diversified base of customers in industries such as metals and other manufacturing, paper, governmental, food products, health services, education, and retail. It serves more than 4.5 million customers in total.
For the last five years, WEC's revenue generally increased except for 2019 which saw a $156.4 million decrease from prior year. Net income registered the same trend except in 2018 when it had a 12% dip in profit.
In 2019, the company's sales fell by 2% to $7.5 billion due to decrease sales across all segment.
Net income grew 7% to $1.1 billion due to increase in operating income at the Wisconsin segment. The increase was driven by lower operation and maintenance expense related to our power plants, which primarily resulted from lower maintenance and labor costs.
WEC's cash on hand fell $63.8 million during 2019, ending the year at $82.3 million. The company's operations generated $2.3 billion and its financing produced $85.6 million, partially offset by the $2.5 billion used in its investing activities. WEC's main cash uses in 2019 were capital expenditures, acquisitions, and dividends.
The Company's main corporate strategy is to continue to build and sustain long-term value for its shareholders and customers by focusing on the fundamentals of its business: reliability; operating efficiency; financial discipline; customer care; and safety.
Mergers and Acquisitions
In 2020, WEC agreed to increase its ownership interest from 80% to 90% in three Midwest windfarms: Blooming Grove Wind Farm, Thunderhead Wind Energy Center and the Upstream Wind Energy Center. The total investment is $118 million for an additional 75 megawatts of capacity.
In early 2020, WEC agreed to acquire 80% ownership interest in Blooming Grove Wind Farm. The project is being developed in McLean County, Illinois by Invenergy -- a leading developer and operator of sustainable energy solutions. Commercial operation is expected to begin by the end of 2020. The Blooming Grove site will consist of 94 GE wind turbines with a combined capacity of 250 megawatts. WEC Energy Group's investment will total $345 million for the 80% ownership interest.
In late 2019, WEC agreed to acquire 80% ownership interest in Thunderhead Wind Energy Center. The project is being developed in Antelope and Wheeler counties, Nebraska by Invenergy -- a leading developer and operator of sustainable energy solutions. Commercial operation is expected to begin by the end of 2020. The Thunderhead site will consist of 108 GE wind turbines with a combined capacity of 300 megawatts. WEC Energy Group's investment will total $338 million for the 80% ownership interest.
Also in early 2019, the company acquired an 80 percent ownership interest in Coyote Ridge Wind Farm, under construction in Brookings County, South Dakota. The Coyote Ridge site consists of 39 GE wind turbines with a combined capacity of 97 megawatts. WEC Energy Group's investment will total $145 million for the 80% ownership interest.
231 W Michigan St
Milwaukee, WI 53203-2918
Phone: 1 (414) 221-2345
Employer Type: Publicly Owned
President: Rod Karman
Customer Service Technician: Mark Scerba
Vice President, Customer Services: John Zaganczyk
Employees (This Location): 136
Employees (All Locations): 2,562
Iron River, MI
Elkhart Lake, WI
Fort Atkinson, WI
Land O Lakes, WI
Menomonee Falls, WI
Oak Creek, WI
Pleasant Prairie, WI
Port Washington, WI
Rice Lake, WI
Two Rivers, WI
Union Grove, WI
West Bend, WI
Wisconsin Rapids, WI