$WEC · WEC ENERGY GROUP, INC.
WEC Energy Group filed an 8-K announcing the Public Service Commission of Wisconsin approved rate changes for its Wisconsin Electric, Wisconsin Gas, and Wisconsin Public Service subsidiaries. The approval sets authorized ROE at 9.50% and maintains a 53.0% equity ratio. The filing also includes investor presentation slides detailing a 2027-2031 capital plan raised by $10.0B to $47.5B, supporting 7-9%+ long-term EPS growth.
- PSCW authorized 9.50% return on equity with 53.0% equity ratio for Wisconsin utilities.
- 2027-2031 capital plan increased $10.0B to $47.5B versus prior five-year plan.
- 2026 EPS guidance updated to $5.60-$5.64, midpoint $5.62.
- Dividend raised 6.7% in January to $3.81 annual rate; targeting 6.5-7% growth.
- Microsoft data center investment of ~$20B and Oracle 1,300 MW drive 4.9 GW added demand through 2031.
Extended-hours last trade $115.00, down 0.75% vs regular close, a muted reaction to a largely constructive regulatory and capital-plan update.
A favorable Wisconsin rate decision plus a $10B capital-plan increase underpins WEC's 7-9%+ long-term EPS growth thesis.
Regulated utilities are leveraging data-center load growth (Microsoft, Oracle/Stargate) to justify expanded rate base and capital plans.
Rate case outcomes and rider reconciliations, plus execution risk on the $47.5B capital plan and data-center customer credit/security requirements, could affect results.