Jointly Owned Utility Facilities

12 Months Ended

Dec. 31, 2024

Jointly Owned Utility Plant, Net Ownership Amount [Abstract]

Our electric utilities hold joint ownership interests in certain electric generating facilities. We are entitled to our share of generating capability and output of each facility equal to our respective ownership interest. We have supplied our own financing for all jointly owned projects. We pay our ownership share of additional construction costs, fuel inventory purchases, and operating expenses, unless specific agreements have been executed to limit our maximum exposure to additional costs. We record our proportionate share of significant jointly owned electric generating facilities as property, plant, and equipment on the balance sheets. In addition, our proportionate share of direct expenses for the joint operation of these plants is recorded within operating expenses in the income statements.

Information related to jointly owned utility facilities at December 31, 2024 was as follows:


Company	Jointly-Owned Utility Facilities	Ownership		Share of Capacity (MW)	In-Service /Acquisition Date	Operating Owner	Property, Plant, and Equipment		Accumulated Depreciation		CWIP
(in millions, except for percentages and MW)
We Power (1)	ER 1 & ER 2 (2)	83.34	%	1,083.4	2010 & 2011	WE	$	2,482.4	$	(548.3)	$	4.3
WPS	Weston Unit 4 (2)	70.0	%	383.4	2008	WPS	600.9		(230.7)		1.6
WPS	Columbia Units 1 & 2 (2) (5)	27.5	%	307.5	1975 & 1978	WPL	436.5		(186.9)		4.0
WPS	Forward Wind (3)	44.6	%	61.5	2008	WPS	120.1		(60.0)		—
WPS	Two Creeks (4)	66.7	%	100.0	2020	WPS	136.9		(18.6)		—
WPS	Badger Hollow I (4)	66.7	%	100.0	2021	WPS	146.5		(14.5)		0.4
WPS	Red Barn (3)	90.0	%	82.4	2023	WPS	150.6		(8.1)		—
WE	West Riverside (2) (6)	27.5	%	190.5	2023 & 2024	WPL	217.8		(29.5)		3.2
WE	Badger Hollow II (4)	66.7	%	100.0	2023	WE	179.4		(6.0)		0.4
WE, WPS	Paris (solar portion) (4)	90.0	%	180.0	2024	WE	357.8		—		0.5

(1) We Power leases its ownership interest in ER 1 and ER 2 to WE.

(2) Capacity is based on rated capacity, which is the net power output under average operating conditions with equipment in an average state of repair as of a given month in a given year. Values are primarily based on the net dependable expected capacity ratings for summer 2025 established by tests and may change slightly from year to year. The summer period is the most relevant for capacity planning purposes. This is a result of continually reaching demand peaks in the summer months, primarily due to air conditioning demand.

(3) Capacity for wind generating facilities is based on nameplate capacity, which is the amount of energy a turbine should produce at optimal wind speeds.

(4) Capacity for solar generating facilities is based on nameplate capacity, which is the maximum output that a generator should produce at continuous full power.

(5) These coal units are expected to be retired by the end of 2029. See Note 7, Property, Plant, and Equipment, for more information.

(6) WE acquired a 13.8% ownership interest in June 2023 and acquired an additional 13.7% ownership interest in May 2024. See Note 2, Acquisitions, for more information.

WE and WPS, along with an unaffiliated utility, received PSCW approval to construct Paris, a utility-scale solar-powered electric generating facility with a battery energy storage system. The solar portion of this project went into service in December 2024 (see details in the table above) and construction of the battery storage is expected to be completed in 2025. Once fully constructed, WE and WPS will collectively own 90%, or 99 MWs of battery storage of this project. Our CWIP balance for Paris battery storage was $217.0 million as of December 31, 2024.

WE and WPS, along with an unaffiliated utility, received PSCW approval to construct Darien, a utility-scale solar-powered electric generating facility with a battery energy storage system. Once constructed, WE and WPS will collectively own 90%, or 225 MWs of solar generation and 68 MWs of battery storage of this project. Commercial operation of the solar portion and the battery storage is expected to be completed in 2025 and 2026, respectively. Our CWIP balance for Darien was $422.2 million as of December 31, 2024.

WE and WPS, along with an unaffiliated utility, received PSCW approval to construct Koshkonong, a utility-scale solar-powered electric generating facility with a battery energy storage system. Once fully constructed, WE and WPS will collectively own 90%, or 270 MWs of solar generation and 149 MWs of battery storage of this project. Commercial operation of the solar facility and the battery storage is expected to be completed in 2026 and 2027, respectively. Our CWIP balance for Koshkonong was $140.3 million as of December 31, 2024.