WEC · 10-Q · 2026Q2 · Full report
Rate Case Outcomes
WEC ENERGY GROUP, INC. · 2026-08-04 · Importance 53 · Surprise 60 · In source text
Wisconsin rate orders approved by the PSCW became effective January 1, 2026 and increased second-quarter Wisconsin utility margin by $44.2 million. The orders also authorized higher transmission expense, which increased Wisconsin transmission expense by $16.0 million in the second quarter of 2026. The rate orders contributed to a $74.0 million year-to-date increase in Wisconsin segment net income attributed to common shareholders through June 30, 2026. WEC also recognized a $10.8 million current return on carrying costs for bespoke resources assigned to very large customers during the second quarter.
Key facts
- In May 2026, the ICC approved a settlement under which PGL agreed to permanently remove $130.0 million of qualified infrastructure investment costs from rate base starting in 2027. source
- Net cash provided by higher overall collections from customers increased $253.3 million during the six months ended June 30, 2026, driven by the impact of the Wisconsin rate orders effective January 1, 2026. source
- A $44.2 million increase in margins was driven by the impact of the Wisconsin rate orders approved by the PSCW, effective January 1, 2026. source
- Subsequent to its approval, Microsoft entered into a service agreement to obtain service under the VLC tariff. source
- A $117.7 million increase in margins was driven by the impact of the Wisconsin rate orders approved by the PSCW, effective January 1, 2026. source
- Under the same May 2026 QIP settlement, PGL agreed to refund $75.0 million to customers as bill credits over a period of three years between 2026 and 2028. source
- Half of the UEA refunds will be credited to customers in 2026, and 25% will be refunded in each of 2027 and 2028, with PGL and NSG beginning refunds in the fourth quarter of 2026. source
- The company recorded a $155.0 million charge to income during the fourth quarter of 2025 as a result of the QIP settlement. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| revenue | negative | committed | -3.1% | Under the same May 2026 QIP settlement, PGL agreed to refund $75.0 million to customers as bill credits over a period of three years… |
| cash | positive | realized | +0.5% | Net cash provided by higher overall collections from customers increased $253.3 million during the six months ended June 30, 2026, driven… |
| assets | negative | committed | -0.2% | In May 2026, the ICC approved a settlement under which PGL agreed to permanently remove $130.0 million of qualified infrastructure… |
| revenue | negative | committed | -0.0% | PGL and NSG will refund $49.0 million and $1.0 million, respectively, to customers as bill credits over a period of three years between… |
| margin | positive | realized | — | A $44.2 million increase in margins was driven by the impact of the Wisconsin rate orders approved by the PSCW, effective January 1, 2026. |
| revenue | positive | committed | — | Subsequent to its approval, Microsoft entered into a service agreement to obtain service under the VLC tariff. |
| margin | positive | realized | — | A $117.7 million increase in margins was driven by the impact of the Wisconsin rate orders approved by the PSCW, effective January 1, 2026. |
| revenue | negative | committed | — | Half of the UEA refunds will be credited to customers in 2026, and 25% will be refunded in each of 2027 and 2028, with PGL and NSG… |