WEC Energy Group, Inc.
Capital Structure
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Company Description
- CEO
- Scott J. Lauber
- Full Time Employees
- 7,151
- Sector
- Utilities
- Industry
- Electric utilities
- Address
- 231 West Michigan Street Milwaukee WI United States 53201
- IPO Date
- Nov 21, 1947
- CIK
- 0000783325
- Website
- wecenergygroup.com
- Similar Companies
- Business
- WEC Energy Group, Inc. operates as a holding company primarily engaged in the generation, distribution, and delivery of electricity and natural gas. It serves approximately 4.7 million customers across the Midwest, including Wisconsin, Illinois, Michigan, and Minnesota. The company’s main products and services include regulated electric utility services; natural gas distribution and delivery; electric transmission services primarily through its approximately 60% equity interest in American Transmission Company; and nonregulated renewable energy generation. WEC Energy Group manages a diverse portfolio of power plants with an installed capacity of approximately 8,150 megawatts, encompassing coal, natural gas, and renewable energy sources. Its infrastructure consists of over 72,400 miles of electric distribution lines and 47,000 miles of natural gas distribution and transmission lines. The company operates through six reportable segments covering its electric and gas utilities and energy infrastructure businesses. Founded in 1981 and headquartered in Milwaukee, Wisconsin, WEC Energy Group continues to focus on safety, reliability, and sustainable energy provision. The company’s latest major changes include a record $28 billion five-year capital plan announced in 2024, aimed at supporting safety, reliability, and growth. This plan emphasizes modernization and expansion of its natural gas generation capacity with the addition of over 1,900 megawatts of new combustion turbines and engines, investment in liquefied natural gas storage to enhance winter reliability, and $9.1 billion allocated to regulated renewable energy projects to build and own approximately 4,300 megawatts of new capacity. In 2024, WEC Energy Group advanced its energy transition by adding low- and no-carbon generation facilities while retiring older coal plants, making significant progress towards a cleaner energy future. The company also continues to leverage supportive policies and constructive regulation to advance its infrastructure modernization and sustainability goals. WEC Energy Group's operations span regulated electricity and natural gas services along with electric transmission and nonregulated renewable energy segments. Its customer base includes residential, commercial, and industrial users in the Midwest, supported by a balanced generation mix designed to meet growing electric demand reliably and affordably. The company maintains a strong commitment to its sustainability and corporate responsibility initiatives as detailed in its 2024 Corporate Responsibility Report. It continues to integrate its subsidiaries efficiently to optimize operational performance and shareholder value while maintaining steady growth in net income and earnings per share. Overall, WEC Energy Group stands as a leading energy company with a strategic focus on modernization, renewable energy integration, and reliable service across its regional footprint.
Company News
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