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WEC Energy
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Updated Aug 18, 2026
WEC Energy secures 20-year nuclear PPA with NextEra at Point Beach, replacing expiring agreement with improved customer savings.
WEC Energy's Wisconsin Electric subsidiary executed a definitive 20-year power purchase agreement on August 14, 2026 to procure 86% of capacity and energy from NextEra Energy's Point Beach nuclear units (Unit 1: Oct 2030–Oct 2050; Unit 2: Mar 2033–Mar 2053). The agreement generates customer savings versus the current expiring PPA and is subject to Wisconsin Public Service Commission approval by January 1, 2028 (extendable to July 1, 2028 under specified conditions). This represents a threshold shift in WEC's long-duration generation portfolio, anchoring approximately two decades of nuclear-backed baseload supply at an established Midwest facility.
Tone: bullishRevenue
$9.8B
WEC 10-K · FY 2025
Employees
7,151
Revenue FY2024
$8.6B
Founded
1981
Profile
WEC 10-K Item 1 · Feb 20, 2026WEC Energy Group is a diversified regulated utility holding company serving approximately 4.7 million customers across Wisconsin, Illinois, Michigan, and Minnesota through electric, natural gas, and steam distribution operations. The company also holds an approximately 60% equity interest in ATC, a for-profit electric transmission company, and operates non-utility renewable energy infrastructure through its WECI subsidiary. Its capital plan is centered on retiring coal-fired generation and replacing it with natural gas, utility-scale solar, wind, and battery storage to serve surging data center load in its service territories.
Read filing description ↓ Collapse description ↑
We are a diversified holding company with natural gas and electric utility operations serving customers in Wisconsin, Illinois, Michigan, and Minnesota, an approximately 60% equity ownership interest in ATC (a for-profit electric transmission company regulated by the FERC and certain state regulatory commissions), and non-utility energy infrastructure operations through We Power (which owns generation assets in Wisconsin that it leases to WE), Bluewater (which owns underground natural gas storage facilities in Michigan), and WECI (which holds ownership interests in several renewable generating facilities). We were incorporated in the state of Wisconsin in 1981 and became a diversified holding company in 1986. Our wholly owned subsidiaries provide or invest in regulated natural gas and electricity, and renewable energy, as well as nonregulated renewable energy. We have an approximately 60% equity interest in ATC (an electric transmission company operating in Illinois, Michigan, Minnesota, and Wisconsin). Our electric utility operations include the operations of WE, WPS, and UMERC. Our electric supply strategy is to provide our customers with energy from a diverse generation portfolio that balances a stable, reliable, and affordable supply of electricity with environmental stewardship. We own 8,375 MWs of generation capacity, including wholly owned and jointly owned facilities. We are engaged in discussions with a small number of customers to provide power to large-scale data centers being constructed in our service territories. Our long-term goal is to achieve net carbon neutral electric generation by the end of 2050. We expect to use coal only as a backup fuel by the end of 2030 and to be in a position to eliminate coal as an energy source by the end of 2032.
Primary products
- Electric utility generation and distribution
- Natural gas utility distribution
- Steam utility
- Electric transmission (ATC)
- Non-utility renewable energy infrastructure (WECI)
- Natural gas storage (Bluewater)
Business segments
End markets
Geographies
Named customers
“Our electric utilities face competition from various entities and other forms of energy sources available to customers, including self-generation by customers and alternative energy sources.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Total consolidated operating revenues increased from $8,599.9 million in 2024 to $9,800.1 million in 2025, driven primarily by higher electric revenues in Wisconsin reflecting new customer growth, VLC-related infrastructure investments, and higher wholesale revenues, as well as increased natural gas revenues across all jurisdictions.
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