Summary
WEC Energy Group, based in Milwaukee, is a 98%-regulated energy company serving 4.7 million utility customers in Wisconsin (about 65% of customers), Illinois (17%), Minnesota (5%) and Michigan (5%). The company is an electricity generator with transmission and distribution operations and delivers natural gas. It has over 15 utility subsidiaries, primarily We Energies, Wisconsin Public Service, Peoples Gas, North Shore Gas, Michigan Gas Utilities, Minnesota Energy Resources, and Upper Michigan Energy Resources. Its other major subsidiary, We Power, designs, builds, and owns electric generating plants. WEC’s revenue by business has been approximately 75% regulated electricity generation and distribution and 22% regulated natural gas distribution. In 2023, about 14% of MWh sales were for resale customers and 4% were for wholesale, while 33% were to large industrial customers. WEC is heavily dependent on the Wisconsin economy and the dairy industry.
The company’s current owned generation capacity is about 9 GW w
