WEC Energy Group Inc.

Overview Key strengths Key risks Rate-regulated electric and natural gas utility operations. Elevated capital-spending program requires ongoing balanced funding and timely cost recovery to support the credit profile. Relatively large customer base of about 4.5 million with operations across four states, providing robust geographical and regulatory diversity. Financial measures at the weaker end of the benchmark range for the financial risk profile. Credit-supportive and constructive regulatory frameworks in all jurisdictions. The rate review incorporates costs around We Energies aggressive clean energy transition plans, investments in storm hardening and grid resiliency and renewable energy investments. We expect including these costs in the base rates to bring stability and predictability to future cash flows and limit cash flow deficits. WEC agreed to

...Wisconsin Gas LLC (WG) and Wisconsin Electric Power Co., together known as We Energies, filed with Public Service Commission of Wisconsin (PSCW) for updated rates effective January 2023. The rate review incorporates costs around We Energies aggressive clean energy transition plans, investments in storm hardening and grid resiliency and renewable energy investments. We expect including these costs in the base rates to bring stability and predictability to future cash flows and limit cash flow deficits....

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