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WEC Energy Group Business Segments

Business, geographic, and product segment breakdowns

WEC Energy Group generates $10.1B in annual revenue across 1 key segments: Non-Utility Energy Infrastructure ($1.3M). The company-wide operating margin is 22.68%. Based on the Q1 2026 filing.

Non-Utility Energy Infrastructure (TTM)$1.3M
Latest FilingQ1 2026
Report Date2026-05-07
Market Cap$36.4B
P/E Ratio22.23
ROE11.69%

Products & Services

2026

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Electric$634.5M———$681.6M—
Natural gas$388.5M———$487.0M—

2027

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Electric$681.6M———$730.4M—
Natural gas$357.9M———$478.8M—

2028

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Electric$730.4M———$782.6M—
Natural gas$345.2M———$426.8M—

2029

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Electric$782.6M———$838.5M—
Natural gas$302.6M———$323.6M—

2030

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Electric$838.5M———$898.5M—
Natural gas$217.5M———$203.0M—

Annual energy optimization target, as a percent

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Electric1.0%———1.0%—

Annual state renewable portfolio requirement, as a percent

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Electric10.0%———10.0%—

Annual state renewable portfolio requirement for 2019 and 2020, as a percent

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Electric12.5%———12.5%—

Capacity of coal-fired generation to be retired by the end of 2031, in megawatts

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Electric—1200.000.00-300.000.00900.00

Capacity of fossil-fueled generation retired, in megawatts

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Electric2500.002500.002500.002500.002500.002500.00

Later Years

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Electric$2.0B———$1.1B—
Natural gas$836.3M———$1.0B—

Level of particulate matter in pounds per million british thermal unit that the EPA is proposing to return to

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Electric——0.03———

Level of particulate matter in pounds per million british thermal units that the EPA reverted back to with the repeal of the 2024 amendments

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Electric—————0.03

Number of applicable GHG performance standards for coal plants

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Electric———0.000.000.00

Number Of Customers

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Natural gas—3000000.003000000.003000000.00—3100000.00
Electric—1700000.001700000.001700000.00—1700000.00

Percent of annual operating revenues used to fund renewable program

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Electric0.3%0.3%0.3%0.3%0.3%—

Percentage renewable portfolio requirement 2021 and beyond

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Electric15.0%———15.0%—

Requested Rate Increase (Decrease), Amount

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Electric—————$179.5M
Natural gas—————$59.4M

Requested Rate Increase (Decrease), Percentage

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Natural gas—————6.8%
Electric—————6.3%

Required renewable energy percent achieved

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Electric9.7%———9.7%—

Revenues from contracts with customers

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Natural gas$1.0B$1.7B$634.9M$413.3M$1.2B$1.9B
Electric$1.2B$1.3B$1.3B$1.6B$1.3B$1.4B
Other non-utility revenues$68.2M$65.4M$59.6M$66.4M$64.8M$79.7M

Estimated future expenditures for environmental remediation

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Natural gas$445.8M$442.1M$438.9M$438.2M$484.1M$474.3M

Notional sales volumes

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Utility operations$51.6M$61.5M———$63.0M

Revenues amortized from deferred revenue during the period

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
We Power revenues$6.1M$6.2M$6.2M$6.2M$6.2M—

Business Segments

Other operating revenues

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Non-Utility Energy Infrastructure$104.8M$118.7M$119.9M$120.4M$120.6M$121.8M
Illinois$13.7M$29.0M-$9.9M-$1.7M-$51.4M$37.7M
Wisconsin$3.5M$5.8M$7.0M$3.5M$8.0M$12.7M
Other States$1.5M-$2.1M$400.0K-$400.0K-$300.0K-$1.8M
Corporate and Other$0.0$0.0$0.0$0.0$0.0$0.0

Revenues from contracts with customers

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Wisconsin$1.6B$2.1B$1.6B$1.8B$1.9B$2.3B
Illinois$486.0M$788.3M$280.5M$185.2M$463.6M$749.7M
Other States$140.7M$229.2M$82.3M$53.4M$165.0M$259.1M
Non-Utility Energy Infrastructure$181.7M$194.3M$189.4M$193.3M$193.2M$210.7M
Corporate and Other$0.0$0.0$0.0$0.0$0.0$0.0

Equity method investment, ownership interest (as a percent)

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Electric Transmission75.0%75.0%75.0%75.0%75.0%75.0%

Natural gas storage needs provided to Wisconsin utilities

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Non-Utility Energy Infrastructure0.0%33.0%0.0%0.0%0.0%33.0%

Notional sales volumes

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Non-Utility Energy Infrastructure$325.0K$300.0K———$100.0K

Property, plant, and equipment

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Non-Utility Energy Infrastructure$8.3B———$8.8B—