WEC
Investing in Efficiency, Sustainability and Growth
Investor Update:
September 2024
$29.3 billion market cap*
4.7 million retail customers
60% ownership of American Transmission Company
$44.6 billion of assets
The Premier Energy Company
in America's Heartland
* As of August 28, 2024
3
A History of Quality Earnings Growth
$6.00
$5.00
$4.00
$3.00
$2.00
$1.00
$0.00
$4.80-$4.90
'04 '05 '06 '07 '08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22 '23 '24
GAAP Adjusted** 2024 Guidance
* Estimated based on 2024 guidance midpoint of $4.85 per share.
** See Appendix for reconciliation of adjusted amounts to GAAP amounts.
4
Consistent Performance Over Time
The only utility to beat guidance every year for 20 years running.
* On an adjusted basis, excluding a non-cash charge of 41 cents per share
EPS Guidance
2023
Exceeded*
2022
Exceeded
2021
Exceeded
2020
Exceeded
2019
Exceeded
2018
Exceeded
2017
Exceeded
2016
Exceeded
2015
Exceeded
2014
Exceeded
2013
Exceeded
2012
Exceeded
2011
Exceeded
2010
Exceeded
2009
Exceeded
2008
Exceeded
2007
Exceeded
2006
Exceeded
2005
Exceeded
2004
Exceeded
5
Strong Dividend Growth Continues
* Annualized based on the first quarter of 2024 dividend of 83.5 cents per share
** Reflects current and expected dividends declared in 2024
6
What's New?
Proposed Revenue Increases
Wisconsin
2025
2026
Electric
Electric
6.9%*
4.6%
Natural Gas
10.0%
4.6%
Wisconsin Gas
Natural Gas
8.2%
3.3%
Wisconsin Public Service
Electric
8.5%*
4.5%
Natural Gas
6.8%
3.7%
Order expected in Q4 2024 for new rates effective January 1, 2025
Wisconsin Rate Reviews
In April, Wisconsin Electric, Wisconsin Gas and Wisconsin Public Service filed applications with the state Public Service Commission
In 2025, we'll focus our spending and investment on 3 key priorities:
Customer bills Wisconsin Electric and Wisconsin Public Service
Typical residential customer bills are, and will continue to be, significantly below the national average and in line with utilities in Wisconsin and across the Midwest.
* Electric proposed increases include fuel, which will be updated Q4
8
Rate Review Summary
Wisconsin
Wisconsin Public
Wisconsin Electric
Gas
Service
Electric
Natural Gas
Natural Gas
Electric
Natural Gas
Current ROE
9.8%
9.8%
9.8%
9.8%
9.8%
Current Equity Ratio
53.0%
53.0%
53.0%
53.0%
53.0%
Proposed ROE
10.0%
10.0%
10.0%
10.0%
10.0%
Proposed Equity Ratio
53.5%
53.5%
53.5%
53.5%
53.5%
Forecasted 2025 Rate
$ 9,141
$ 1,663
$ 2,331
$ 4,551
$ 927
Base (in millions)
Earnings Sharing
No sharing on first 15 bp above allowed ROE,
Mechanism
50/50 on next 60 bp, 100% to customers beyond 75 bp
9
Illinois Proceedings
2023 Rate Order
10
Disclaimer
WEC Energy Group Inc. published this content on 03 September 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on September 03, 2024 at 21:38:03 UTC.