Fri, Feb 21, 4:47 PM (23 days ago)
**Wisconsin Electric Power Company (WEPCO) 2024 Financial Summary** For the fiscal year ending December 31, 2024, Wisconsin Electric Power Company (WEPCO) reported operating revenues of $3,979.9 million, a slight decrease from $4,045.0 million in 2023. Net income attributed to common shareholders increased to $513.2 million from $480.6 million, driven by a reduction in operating expenses, particularly in fuel and purchased power costs, which fell to $1,300.3 million from $1,451.4 million. Operating income rose to $1,061.2 million, up from $1,022.2 million. The company’s strategic focus includes a significant capital investment plan of approximately $9.1 billion from 2025-2029, targeting renewable energy generation and infrastructure upgrades, which are expected to enhance reliability and reduce carbon emissions by 60% by 2025 and 80% by 2030. Key risk factors include regulatory changes, environmental compliance costs, and market competition, particularly from renewable energy sources. As of December 31, 2024, total assets stood at $17,199.6 million, with total liabilities of $11,722.4 million, reflecting a stable financial condition despite ongoing capital expenditures. Future outlook remains cautiously optimistic with ongoing investments in renewable energy and infrastructure modernization, positioning WEPCO favorably in a transitioning energy market.