# WEC ENERGY GROUP, INC.

Summary updated: 2026-09-28T12:34:46.512755Z
Canonical: https://finbar.com/research/companies/wec-energy-group

## Overview

WEC Energy Group, Inc. is a Milwaukee-based energy holding company whose subsidiaries provide regulated electricity and natural gas service in Wisconsin, Illinois, Michigan and Minnesota. Its businesses also include investments in renewable energy and an approximately 60% interest in American Transmission Co., an electric-transmission company. [1](https://app.finbar.com/go?id=P71700206)[2](https://app.finbar.com/go?id=P12731027)

WEC Energy Group describes its mission as delivering affordable, reliable and clean energy to customers across the Midwest. It serves approximately 4.7 million customers and had 7,151 employees at the end of 2025. Operating revenue was approximately $9.8 billion in 2025. [3](https://investor.wecenergygroup.com/investors/news-releases/press-release-details/2025/Klappa-Lauber-highlight-exceptional-year-for-WEC-Energy-Group/default.aspx)[4](https://www.sec.gov/Archives/edgar/data/783325/000078332526000037/wec2025annualreport.pdf)[5](https://app.finbar.com/go?id=T6290153)[6](https://app.finbar.com/go?id=T2218742)
[1](https://app.finbar.com/go?id=P71700206)[2](https://app.finbar.com/go?id=P12731027)[5](https://app.finbar.com/go?id=T6290153)[6](https://app.finbar.com/go?id=T2218742)[3](https://investor.wecenergygroup.com/investors/news-releases/press-release-details/2025/Klappa-Lauber-highlight-exceptional-year-for-WEC-Energy-Group/default.aspx)[4](https://www.sec.gov/Archives/edgar/data/783325/000078332526000037/wec2025annualreport.pdf)

## Products & services

WEC Energy Group’s principal products are electricity and natural gas delivered through regulated utilities. Its electric utilities generate and distribute power to retail customers and also sell electricity into wholesale markets. Its natural-gas utilities supply gas to residential, commercial and industrial customers and provide transportation service for customers that purchase gas from third parties. In 2024, electricity generated $4.91 billion, or about 57% of consolidated operating revenue; natural gas generated $3.32 billion, or about 39%. [7](https://app.finbar.com/go?id=P27138830)[8](https://app.finbar.com/go?id=P5432465)[9](https://app.finbar.com/go?id=P99867403)[10](https://app.finbar.com/go?id=T2837438)

Its electricity supply draws on natural-gas, coal, wind, solar, hydroelectric and biomass facilities. At year-end 2024, its owned and jointly owned generating facilities had 8,158 megawatts of reported capacity, including 4,192 MW of natural gas, 2,698 MW of coal and 1,268 MW of renewable generation. [11](https://app.finbar.com/go?id=T9066177) We Energies also generates, distributes and sells steam in metropolitan Milwaukee for industrial processing, space heating, domestic hot water and humidification. Other energy services include natural-gas storage, generating facilities leased to a utility subsidiary, and renewable projects whose output is sold under long-term offtake agreements. [12](https://app.finbar.com/go?id=P119314717)[13](https://app.finbar.com/go?id=P105539651)[14](https://app.finbar.com/go?id=P77645533)[15](https://app.finbar.com/go?id=P40385865)
[7](https://app.finbar.com/go?id=P27138830)[8](https://app.finbar.com/go?id=P5432465)[9](https://app.finbar.com/go?id=P99867403)[10](https://app.finbar.com/go?id=T2837438)[10](https://app.finbar.com/go?id=T2837438)[10](https://app.finbar.com/go?id=T2837438)[11](https://app.finbar.com/go?id=T9066177)[11](https://app.finbar.com/go?id=T9066177)[11](https://app.finbar.com/go?id=T9066177)[11](https://app.finbar.com/go?id=T9066177)[11](https://app.finbar.com/go?id=T9066177)[11](https://app.finbar.com/go?id=T9066177)[12](https://app.finbar.com/go?id=P119314717)[13](https://app.finbar.com/go?id=P105539651)[14](https://app.finbar.com/go?id=P77645533)[15](https://app.finbar.com/go?id=P40385865)

## Geographic presence

WEC Energy Group’s utility service territories are concentrated in Wisconsin, Illinois, Michigan and Minnesota. Its Wisconsin electric utilities serve areas including metropolitan Milwaukee, central and northeastern Wisconsin, while its Michigan electric utility serves the Upper Peninsula. Its Illinois gas utilities serve Chicago and northern suburbs; other gas utilities serve communities in Minnesota and southern and western Michigan. [16](https://app.finbar.com/go?id=P105056377)[17](https://app.finbar.com/go?id=P25982535)[18](https://app.finbar.com/go?id=P58818185)[19](https://app.finbar.com/go?id=P24976437)[20](https://app.finbar.com/go?id=P24747008)

In 2025, Wisconsin accounted for $7,295.5 million, or approximately 76.7%, of utility operating revenue; Illinois accounted for $1,683.6 million, or 17.7%; and other states accounted for $527.5 million, or 5.5%. The reported “other states” category is not broken out by state. WEC Energy Group’s principal executive offices are in Milwaukee, Wisconsin. Its listed utility generating facilities also include a wind facility in Iowa. [21](https://app.finbar.com/go?id=T10406660)[22](https://app.finbar.com/go?id=P70176478)[23](https://app.finbar.com/go?id=T9111032)
[16](https://app.finbar.com/go?id=P105056377)[17](https://app.finbar.com/go?id=P25982535)[18](https://app.finbar.com/go?id=P58818185)[19](https://app.finbar.com/go?id=P24976437)[20](https://app.finbar.com/go?id=P24747008)[21](https://app.finbar.com/go?id=T10406660)[21](https://app.finbar.com/go?id=T10406660)[21](https://app.finbar.com/go?id=T10406660)[21](https://app.finbar.com/go?id=T10406660)[22](https://app.finbar.com/go?id=P70176478)[23](https://app.finbar.com/go?id=T9111032)

## Business segments

WEC Energy Group reports six segments. Its three Utility Operations segments are Wisconsin, which primarily generates and distributes electricity and distributes natural gas in Wisconsin and includes operations in Michigan’s Upper Peninsula; Illinois, which distributes natural gas through Peoples Gas and North Shore Gas; and Other States, which distributes natural gas in Minnesota and Michigan.[24](https://app.finbar.com/go?id=P84804086)[25](https://app.finbar.com/go?id=P38790372)[26](https://app.finbar.com/go?id=P71796670) Based on 2025 external revenue, these segments contributed approximately 74%, 17% and 5%, respectively, of consolidated external revenue.[27](https://app.finbar.com/go?id=T8485404)

Electric Transmission consists principally of ownership interests in American Transmission Company and its holding company; its results are recognized through equity-method earnings rather than external revenue.[28](https://app.finbar.com/go?id=P38258206)[29](https://app.finbar.com/go?id=P26796406) Non-Utility Energy Infrastructure includes generating facilities leased to a utility affiliate, natural-gas storage and majority interests in renewable generation facilities.[30](https://app.finbar.com/go?id=P40174781) It contributed about 3% of 2025 consolidated external revenue, although that measure excludes its substantial intersegment revenue.[27](https://app.finbar.com/go?id=T8485404) Corporate and Other comprises holding companies and other businesses, including financing activities.[31](https://app.finbar.com/go?id=P37051585)[32](https://app.finbar.com/go?id=P52323065) On a net-income basis, Electric Transmission and Non-Utility Energy Infrastructure contributed approximately 9% and 26%, respectively, of 2025 consolidated common-shareholder earnings, before the negative contribution from Corporate and Other.[27](https://app.finbar.com/go?id=T8485404)
[24](https://app.finbar.com/go?id=P84804086)[25](https://app.finbar.com/go?id=P38790372)[26](https://app.finbar.com/go?id=P71796670)[27](https://app.finbar.com/go?id=T8485404)[27](https://app.finbar.com/go?id=T8485404)[27](https://app.finbar.com/go?id=T8485404)[28](https://app.finbar.com/go?id=P38258206)[29](https://app.finbar.com/go?id=P26796406)[30](https://app.finbar.com/go?id=P40174781)[27](https://app.finbar.com/go?id=T8485404)[31](https://app.finbar.com/go?id=P37051585)[32](https://app.finbar.com/go?id=P52323065)[27](https://app.finbar.com/go?id=T8485404)[27](https://app.finbar.com/go?id=T8485404)

## Company history

WEC Energy Group traces its utility roots to the Milwaukee Electric Railway and Light Co., formed in 1896 to provide electric, steam and rail service. Its Lakeside Power Plant became the first plant to burn pulverized coal in 1921, and the two units at its Point Beach nuclear plant began commercial operation in 1970 and 1972. [33](https://www.wecenergygroup.com/about/history.htm)[34](https://www.dhs.wisconsin.gov/radiation/monitoring/pointbeach.htm)

Wisconsin Energy Corporation was incorporated in 1981 and became a diversified holding company in 1986. It expanded its gas business through the 2000 acquisition of WICOR, parent of Wisconsin Gas. In 2015, Wisconsin Energy acquired Integrys Energy Group and changed its name to WEC Energy Group. [35](https://www.sec.gov/Archives/edgar/data/783325/000110465915041261/a15-12902_1425.htm)[36](https://investor.wecenergygroup.com/investors/stock-information/historical-corporate-actions/default.aspx)[37](https://investor.wecenergygroup.com/investors/news-releases/press-release-details/2015/Wisconsin-Energy-completes-acquisition-of-Integrys-to-form-WEC-Energy-Group/default.aspx)
[38](https://app.finbar.com/go?id=P188195496)[39](https://app.finbar.com/go?id=P191020169)[33](https://www.wecenergygroup.com/about/history.htm)[34](https://www.dhs.wisconsin.gov/radiation/monitoring/pointbeach.htm)[35](https://www.sec.gov/Archives/edgar/data/783325/000110465915041261/a15-12902_1425.htm)[36](https://investor.wecenergygroup.com/investors/stock-information/historical-corporate-actions/default.aspx)[37](https://investor.wecenergygroup.com/investors/news-releases/press-release-details/2015/Wisconsin-Energy-completes-acquisition-of-Integrys-to-form-WEC-Energy-Group/default.aspx)

## Sources

1. [WEC ENERGY GROUP, INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P71700206)
2. [WEC ENERGY GROUP, INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P12731027)
3. [investor.wecenergygroup.com](https://investor.wecenergygroup.com/investors/news-releases/press-release-details/2025/Klappa-Lauber-highlight-exceptional-year-for-WEC-Energy-Group/default.aspx)
4. [www.sec.gov](https://www.sec.gov/Archives/edgar/data/783325/000078332526000037/wec2025annualreport.pdf)
5. [WEC ENERGY GROUP, INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=T6290153)
6. [WEC ENERGY GROUP, INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=T2218742)
7. [WEC ENERGY GROUP, INC. — Full financial report (2024 Y)](https://app.finbar.com/go?id=P27138830)
8. [WEC ENERGY GROUP, INC. — Full financial report (2024 Y)](https://app.finbar.com/go?id=P5432465)
9. [WEC ENERGY GROUP, INC. — Full financial report (2024 Y)](https://app.finbar.com/go?id=P99867403)
10. [WEC ENERGY GROUP, INC. — Full financial report (2024 Y)](https://app.finbar.com/go?id=T2837438)
11. [WEC ENERGY GROUP, INC. — Full financial report (2024 Y)](https://app.finbar.com/go?id=T9066177)
12. [WEC ENERGY GROUP, INC. — Full financial report (2024 Y)](https://app.finbar.com/go?id=P119314717)
13. [WEC ENERGY GROUP, INC. — Full financial report (2024 Y)](https://app.finbar.com/go?id=P105539651)
14. [WEC ENERGY GROUP, INC. — Full financial report (2024 Y)](https://app.finbar.com/go?id=P77645533)
15. [WEC ENERGY GROUP, INC. — Full financial report (2024 Y)](https://app.finbar.com/go?id=P40385865)
16. [WEC ENERGY GROUP, INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P105056377)
17. [WEC ENERGY GROUP, INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P25982535)
18. [WEC ENERGY GROUP, INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P58818185)
19. [WEC ENERGY GROUP, INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P24976437)
20. [WEC ENERGY GROUP, INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P24747008)
21. [WEC ENERGY GROUP, INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=T10406660)
22. [WEC ENERGY GROUP, INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P70176478)
23. [WEC ENERGY GROUP, INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=T9111032)
24. [WEC ENERGY GROUP, INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P84804086)
25. [WEC ENERGY GROUP, INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P38790372)
26. [WEC ENERGY GROUP, INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P71796670)
27. [WEC ENERGY GROUP, INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=T8485404)
28. [WEC ENERGY GROUP, INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P38258206)
29. [WEC ENERGY GROUP, INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P26796406)
30. [WEC ENERGY GROUP, INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P40174781)
31. [WEC ENERGY GROUP, INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P37051585)
32. [WEC ENERGY GROUP, INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P52323065)
33. [www.wecenergygroup.com](https://www.wecenergygroup.com/about/history.htm)
34. [www.dhs.wisconsin.gov](https://www.dhs.wisconsin.gov/radiation/monitoring/pointbeach.htm)
35. [www.sec.gov](https://www.sec.gov/Archives/edgar/data/783325/000110465915041261/a15-12902_1425.htm)
36. [investor.wecenergygroup.com](https://investor.wecenergygroup.com/investors/stock-information/historical-corporate-actions/default.aspx)
37. [investor.wecenergygroup.com](https://investor.wecenergygroup.com/investors/news-releases/press-release-details/2015/Wisconsin-Energy-completes-acquisition-of-Integrys-to-form-WEC-Energy-Group/default.aspx)
38. [WEC ENERGY GROUP, INC. — Full financial report (2016 Y)](https://app.finbar.com/go?id=P188195496)
39. [WEC ENERGY GROUP, INC. — Full financial report (2015 Y)](https://app.finbar.com/go?id=P191020169)

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