WISCONSIN PUBLIC SERVICE CORP
Wisconsin Public Service Corporation reported Q3 2026 net income of $121.7M, up from $96.3M in Q3 2025. Total operating revenues were $482.7M (+3.5% YoY), with electric utility revenue at $445.6M and natural gas at $36.6M. The company has a pending rate case before the PSCW seeking $86.1M in electric and $21.7M in gas rate increases for 2027, with a proposed 9.9% ROE.
- Q3 2026 net income rose to $121.7M from $96.3M in Q3 2025, a $25.4M increase.
- Total operating revenues grew 3.5% YoY to $482.7M, driven by electric utility revenue of $445.6M.
- Operating margin reached 33.8% for the quarter.
- A rate case filed April 1, 2026 seeks a $86.1M (6.3%) electric and $21.7M (4.9%) gas increase effective January 1, 2027.
- Three-year capital expenditure plan totals $2.58B, with $913.5M planned for 2027 alone.
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The 26% earnings jump and aggressive $2.58B three-year capital plan signal strong execution, but the pending rate case decision is the critical catalyst for WEC Energy Group's Wisconsin subsidiary.
Wisconsin Public Service is a wholly owned subsidiary of WEC Energy Group (NYSE: WEC) and operates as a regulated utility transitioning its generation fleet from coal to renewables and natural gas, consistent with broader industry decarbonization trends.
The pending 2027-2028 rate case outcome is uncertain; the PSCW could approve lower rates or ROE than the requested 9.9% ROE and 55% equity layer. Tariff and trade policy changes could increase capital project costs across the $2.58B three-year plan.