v3.26.1
OPERATING REVENUES (Tables) - Utility segment
6 Months Ended
Jun. 30, 2026
Disaggregation of Operating Revenues  
Operating revenues disaggregated by revenue source
The following tables present our operating revenues disaggregated by revenue source for our utility segment. We do not have any revenues associated with our other segment. We disaggregate revenues into categories that depict how the nature, amount, timing, and uncertainty of revenues and cash flows are affected by economic factors. Revenues are further disaggregated by electric and natural gas operations and then by customer class. Each customer class within our electric and natural gas operations has different expectations of service, energy and demand requirements, and can be impacted differently by regulatory activities within their jurisdictions.
Three Months Ended June 30Six Months Ended June 30
(in millions)2026202520262025
Wisconsin Electric Power Company
Electric utility$963.8 $921.3 $1,979.5 $1,856.6 
Natural gas utility79.1 84.8 377.2 325.6 
Total revenues from contracts with customers1,042.9 1,006.1 2,356.7 2,182.2 
Other operating revenues14.2 4.7 23.9 7.7 
Total operating revenues$1,057.1 $1,010.8 $2,380.6 $2,189.9 
Revenues from contracts with customers | Electric  
Disaggregation of Operating Revenues  
Operating revenues disaggregated by revenue source
The following table disaggregates electric utility operating revenues into customer class:
Three Months Ended June 30Six Months Ended June 30
(in millions)2026202520262025
Residential$394.6 $382.4 $815.1 $784.3 
Small commercial and industrial325.0 306.3 654.0 613.2 
Large commercial and industrial188.1 159.7 355.7 304.7 
Other4.8 4.9 10.4 10.6 
Total retail revenues912.5 853.3 1,835.2 1,712.8 
Wholesale11.8 10.9 26.2 25.0 
Resale32.2 49.9 95.8 98.5 
Steam5.4 5.2 19.2 17.7 
Other utility revenues1.9 2.0 3.1 2.6 
Total electric utility operating revenues$963.8 $921.3 $1,979.5 $1,856.6 
Revenues from contracts with customers | Natural gas  
Disaggregation of Operating Revenues  
Operating revenues disaggregated by revenue source
The following table disaggregates natural gas utility operating revenues into customer class:
Three Months Ended June 30Six Months Ended June 30
(in millions)2026202520262025
Residential$57.3 $53.1 $247.4 $222.2 
Commercial and industrial24.5 22.9 109.9 100.8 
Total retail revenues81.8 76.0 357.3 323.0 
Transportation5.6 5.1 14.2 13.1 
Other utility revenues (1)
(8.3)3.7 5.7 (10.5)
Total natural gas utility operating revenues$79.1 $84.8 $377.2 $325.6 

(1)Includes the revenues subject to our purchased gas recovery mechanism, which fluctuate based on actual natural gas costs incurred, compared with the recovery of natural gas costs that were included in rates.
Other operating revenues  
Disaggregation of Operating Revenues  
Operating revenues disaggregated by revenue source
Other operating revenues consist primarily of the following:
Three Months Ended June 30Six Months Ended June 30
(in millions)2026202520262025
Bespoke resources current return (1)
$10.8 $— $15.1 $— 
Late payment charges3.3 2.9 $7.0 $6.2 
Rental revenues0.3 1.5 1.6 1.8 
Alternative revenues (2)
(0.2)0.3 0.2 (0.3)
Total other operating revenues$14.2 $4.7 $23.9 $7.7 

(1)    Consists of revenues related to carrying costs recognized during the construction of certain bespoke resources assigned to our VLCs. Consistent with the timing of when we recognize revenue, customer billings for the bespoke resources that are subject to current return (as opposed to AFUDC) occur on a monthly basis. For more information about the bespoke resources current return, see Note 1(d), Operating Revenues, in our 2025 Annual Report on Form 10-K.

(2)    Alternative revenues consist of amounts to be recovered or refunded to customers subject to wholesale true-ups. Negative amounts can result from alternative revenues being reversed to revenues from contracts with customers as the customer is billed for these alternative revenues. For more information about our alternative revenues, see Note 1(d), Operating Revenues, in our 2025 Annual Report on Form 10-K.