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OPERATING REVENUES (Tables)
 6 Months Ended
Jun. 30, 2025
Disaggregation of Operating Revenues  
Operating revenues disaggregated by revenue source
Disaggregation of Operating Revenues

The following tables present our operating revenues disaggregated by revenue source. We do not have any revenues associated with our electric transmission segment, which includes investments accounted for using the equity method. We disaggregate revenues into categories that depict how the nature, amount, timing, and uncertainty of revenues and cash flows are affected by economic factors. For our segments, 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.
(in millions)WisconsinIllinoisOther StatesTotal Utility OperationsNon-Utility Energy InfrastructureCorporate and OtherReconciling EliminationsWEC Energy Group Consolidated
Three Months Ended June 30, 2025      
Electric$1,303.1 $— $— $1,303.1 $— $— $— $1,303.1 
Natural gas277.1 280.5 76.5 634.1 11.4 — (10.6)634.9 
Total regulated revenues1,580.2 280.5 76.5 1,937.2 11.4 — (10.6)1,938.0 
Other non-utility revenues— — 5.4 5.4 58.1 — (3.9)59.6 
Total revenues from contracts with customers1,580.2 280.5 81.9 1,942.6 69.5 — (14.5)1,997.6 
Other operating revenues7.0 (9.9)0.4 (2.5)119.9 — (105.5)
(1)
11.9 
Total operating revenues$1,587.2 $270.6 $82.3 $1,940.1 $189.4 $— $(120.0)$2,009.5 

(in millions)WisconsinIllinoisOther StatesTotal Utility OperationsNon-Utility Energy InfrastructureCorporate and OtherReconciling EliminationsWEC Energy Group Consolidated
Three Months Ended June 30, 2024      
Electric$1,148.5 $— $— $1,148.5 $— $— $— $1,148.5 
Natural gas215.1 255.5 63.4 534.0 11.4 — (10.8)534.6 
Total regulated revenues1,363.6 255.5 63.4 1,682.5 11.4 — (10.8)1,683.1 
Other non-utility revenues— — 4.9 4.9 59.3 — (3.9)60.3 
Total revenues from contracts with customers1,363.6 255.5 68.3 1,687.4 70.7 — (14.7)1,743.4 
Other operating revenues4.6 21.3 2.7 28.6 104.9 — (104.9)
(1)
28.6 
Total operating revenues$1,368.2 $276.8 $71.0 $1,716.0 $175.6 $— $(119.6)$1,772.0 
(in millions)WisconsinIllinoisOther StatesTotal Utility OperationsNon-Utility Energy InfrastructureCorporate and OtherReconciling EliminationsWEC Energy Group Consolidated
Six Months Ended June 30, 2025      
Electric$2,623.1 $— $— $2,623.1 $— $— $— $2,623.1 
Natural gas1,011.2 1,039.8 300.2 2,351.2 25.5 — (24.0)2,352.7 
Total regulated revenues3,634.3 1,039.8 300.2 4,974.3 25.5 — (24.0)4,975.8 
Other non-utility revenues— — 10.9 10.9 119.6 — (5.5)125.0 
Total revenues from contracts with customers3,634.3 1,039.8 311.1 4,985.2 145.1 — (29.5)5,100.8 
Other operating revenues12.8 19.1 (1.7)30.2 238.6 — (210.6)
(1)
58.2 
Total operating revenues$3,647.1 $1,058.9 $309.4 $5,015.4 $383.7 $— $(240.1)$5,159.0 

(in millions)WisconsinIllinoisOther StatesTotal Utility OperationsNon-Utility Energy InfrastructureCorporate and OtherReconciling EliminationsWEC Energy Group Consolidated
Six Months Ended June 30, 2024      
Electric$2,333.8 $— $— $2,333.8 $— $— $— $2,333.8 
Natural gas801.1 859.3 237.0 1,897.4 25.9 — (25.0)1,898.3 
Total regulated revenues3,134.9 859.3 237.0 4,231.2 25.9 — (25.0)4,232.1 
Other non-utility revenues— — 9.9 9.9 111.4 — (5.5)115.8 
Total revenues from contracts with customers3,134.9 859.3 246.9 4,241.1 137.3 — (30.5)4,347.9 
Other operating revenues12.1 83.5 8.7 104.3 209.2 — (209.2)
(1)
104.3 
Total operating revenues$3,147.0 $942.8 $255.6 $4,345.4 $346.5 $— $(239.7)$4,452.2 

(1)Amounts eliminated represent lease revenues related to certain plants that We Power leases to WE to supply electricity to its customers. Lease payments are billed from We Power to WE and then recovered in WE's rates as authorized by the PSCW and the FERC. WE operates the plants and is authorized by the PSCW and Wisconsin state law to fully recover prudently incurred operating and maintenance costs in electric rates.
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)2025202420252024
Residential$511.9 $458.6 $1,056.9 $941.8 
Small commercial and industrial423.3 383.6 844.4 775.3 
Large commercial and industrial257.8 224.9 496.1 442.5 
Other7.4 7.2 15.4 15.1 
Total retail revenues1,200.4 1,074.3 2,412.8 2,174.7 
Wholesale25.8 27.7 53.5 53.3 
Resale65.7 37.8 128.5 82.9 
Steam5.6 4.1 18.4 14.3 
Other utility revenues5.6 4.6 9.9 8.6 
Total electric utility operating revenues$1,303.1 $1,148.5 $2,623.1 $2,333.8 
Revenues from contracts with customers | Natural gas  
Disaggregation of Operating Revenues  
Operating revenues disaggregated by revenue source
The following tables disaggregate natural gas utility operating revenues into customer class:
(in millions)WisconsinIllinoisOther StatesTotal Natural Gas Utility Operating Revenues
Three Months Ended June 30, 2025   
Residential$160.3 $227.2 $46.0 $433.5 
Commercial and industrial77.9 58.5 22.1 158.5 
Total retail revenues238.2 285.7 68.1 592.0 
Transportation22.7 60.1 7.6 90.4 
Other utility revenues (1)
16.2 (65.3)0.8 (48.3)
Total natural gas utility operating revenues$277.1 $280.5 $76.5 $634.1 

(in millions)WisconsinIllinoisOther StatesTotal Natural Gas Utility Operating Revenues
Three Months Ended June 30, 2024   
Residential$124.9 $162.1 $30.1 $317.1 
Commercial and industrial53.2 41.5 16.2 110.9 
Total retail revenues178.1 203.6 46.3 428.0 
Transportation21.3 52.5 6.2 80.0 
Other utility revenues (1)
15.7 (0.6)10.9 26.0 
Total natural gas utility operating revenues$215.1 $255.5 $63.4 $534.0 

(in millions)WisconsinIllinoisOther StatesTotal Natural Gas Utility Operating Revenues
Six Months Ended June 30, 2025   
Residential$649.1 $692.8 $188.7 $1,530.6 
Commercial and industrial328.3 189.7 95.2 613.2 
Total retail revenues977.4 882.5 283.9 2,143.8 
Transportation55.9 157.5 21.1 234.5 
Other utility revenues (1)
(22.1)(0.2)(4.8)(27.1)
Total natural gas utility operating revenues$1,011.2 $1,039.8 $300.2 $2,351.2 

(in millions)WisconsinIllinoisOther StatesTotal Natural Gas Utility Operating Revenues
Six Months Ended June 30, 2024   
Residential$522.5 $537.1 $141.5 $1,201.1 
Commercial and industrial245.0 148.5 70.2 463.7 
Total retail revenues767.5 685.6 211.7 1,664.8 
Transportation51.1 142.6 17.8 211.5 
Other utility revenues (1)
(17.5)31.1 7.5 21.1 
Total natural gas utility operating revenues$801.1 $859.3 $237.0 $1,897.4 

(1)Includes the revenues subject to the purchased gas recovery mechanisms of our utilities, which fluctuate by segment based on actual natural gas costs incurred, compared with the recovery of natural gas costs that were anticipated in rates.
Revenues from contracts with customers | Other non-utility revenues  
Disaggregation of Operating Revenues  
Operating revenues disaggregated by revenue source
Other non-utility operating revenues consist primarily of the following:
Three Months Ended June 30Six Months Ended June 30
(in millions)2025202420252024
Renewable generation revenues$48.1 $49.3 $101.9 $93.8 
We Power revenues6.1 6.1 12.2 12.1 
Appliance service revenues5.4 4.9 10.9 9.9 
Total other non-utility operating revenues$59.6 $60.3 $125.0 $115.8 
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)2025202420252024
Late payment charges$13.9 $14.1 $27.7 $28.7 
Alternative revenues (1)
(18.3)12.3 — 72.8 
Other16.3 2.2 30.5 2.8 
Total other operating revenues$11.9 $28.6 $58.2 $104.3 

(1)Alternative revenues consist of amounts to be recovered or refunded to customers subject to decoupling mechanisms, wholesale true-ups, and conservation improvement rider 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 2024 Annual Report on Form 10-K.