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Short-Term Debt and Lines of Credit | 12 Months Ended
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Dec. 31, 2017
Short-term Debt [Abstract] |
SHORT-TERM DEBT AND LINES OF CREDIT | SHORT-TERM DEBT AND LINES OF CREDIT The following table shows our short-term borrowings and their corresponding weighted-average interest rates as of December 31:
(in millions, except percentages) |  | 2017 |  | 2016
Commercial paper |  |  |  |
Amount outstanding at December 31 |  | $ | 1,444.6 |  |  | $ | 860.2 |
Average interest rate on amounts outstanding at December 31 |  | 1.77 | % |  | 0.96 | %
Our average amount of commercial paper borrowings based on daily outstanding balances during 2017, was $833.8 million with a weighted-average interest rate during the period of 1.34%. WEC Energy Group, WE, WPS, WG, and PGL have entered into bank back-up credit facilities to maintain short-term credit liquidity which, among other terms, require them to maintain, subject to certain exclusions, a minimum total funded debt to capitalization ratio of less than 70.0%, 65.0%, 65.0%, 65.0%, and 65.0%, respectively. As of December 31, 2017, all companies were in compliance with their respective ratio. As of December 31, 2017, we had $1,347.5 million of available capacity under our bank back-up credit facilities and $1,444.6 million of commercial paper outstanding that was supported by the credit facilities. The information in the table below relates to our revolving credit facilities used to support our commercial paper borrowing program, including remaining available capacity under these facilities as of December 31:
(in millions) |  | Maturity |  | 2017
WEC Energy Group |  | October 2022 |  | $ | 1,200.0 |
WE |  | October 2022 |  | 500.0 |
WPS * |  | December 2020 |  | 400.0 |
WG |  | October 2022 |  | 350.0 |
PGL |  | October 2022 |  | 350.0 |
Total short-term credit capacity |  |  |  | $ | 2,800.0 |
Less: |  |  |  |  |
Letters of credit issued inside credit facilities |  |  |  | $ | 7.9 |
Commercial paper outstanding |  |  |  | 1,444.6 |
Available capacity under existing agreements |  |  |  | $ | 1,347.5 |
* | In February 2018, WPS received approval from the PSCW to extend the maturity of its facility to October 2022.
Each of these facilities has a renewal provision for two one-year extensions, subject to lender approval. The bank back-up credit facilities contain customary covenants, including certain limitations on the respective companies' ability to sell assets. The credit facilities also contain customary events of default, including payment defaults, material inaccuracy of representations and warranties, covenant defaults, bankruptcy proceedings, certain judgments, Employee Retirement Income Security Act of 1974 defaults, and change of control. In addition, pursuant to the terms of our credit agreement, we must ensure that certain of our subsidiaries comply with several of the covenants contained therein.

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- Definition The entire disclosure for short-term debt. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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