WEC · WEC Energy Group, Inc.

WEC Energy Group announced significant strategic and financial updates in its April 2026 investor materials. The company's Wisconsin utility subsidiaries filed rate requests with the Public Service Commission of Wisconsin (PSCW) to set customer rates for 2027 and 2028. The filings propose a return on equity (ROE) of 9.9% and equity ratios between 53.5% and 55.0%, representing an increase from the current 9.8% ROE. The company expects an order in Q4 2026 for new rates effective January 1, 2027, and 2028.

Operationally, Wisconsin Electric Power Company announced the extension of Oak Creek Power Plant Units 7 and 8, which were scheduled for retirement at the end of 2026. The units will now remain available through 2027 to address tightened energy supply and higher costs experienced during extreme temperatures, serving as a bridge until new dispatchable generation comes online in late 2027.

The company updated its five-year capital plan (2026-2030) to $37.5 billion, an increase of $1 billion, driven primarily by robust demand growth. WEC Energy forecasts adding approximately 3.9 GW of electric demand (~45% growth) through 2030, largely concentrated in the I-94 corridor between Milwaukee and Chicago. Microsoft's updated plans account for 500 MW of incremental demand, bringing the total forecasted demand in this corridor to 2.6 GW. The company also highlighted a 6.7% dividend increase to an annual rate of $3.81 per share, marking the 23rd consecutive year of dividend growth, with a target payout ratio of 65-70% of earnings.