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CREDIT LOSSES (Tables)

9 Months Ended

Sep. 30, 2020

Credit Loss [Abstract]

Schedule of gross receivables and related allowances for credit losses

We have included a table below that shows our gross third-party receivable balances and the related allowance for credit losses at September 30, 2020, by reportable segment.

(in millions)						Wisconsin						Illinois						Other States						Total Utility Operations						Non-Utility Energy Infrastructure						Corporate and Other						WEC Energy Group Consolidated
Accounts receivable and unbilled revenues						$	766.8					$	272.8					$	34.8					$	1,074.4					$	6.5					$	4.2					$	1,085.1
Allowance for credit losses						88.5						80.2						4.4						173.1						—						0.2						173.3
Accounts receivable and unbilled revenues, net (1)						$	678.3					$	192.6					$	30.4					$	901.3					$	6.5					$	4.0					$	911.8
Total accounts receivable, net – past due greater than 90 days (1)						$	71.5					$	53.6					$	7.1					$	132.2					$	—					$	—					$	132.2
Past due greater than 90 days – collection risk mitigated by regulatory mechanisms (1)						97.0		%				100.0		%				—		%				93.0		%				—		%				—		%				93.0		%

(1)Our exposure to credit losses for certain regulated utility customers is mitigated by regulatory mechanisms we have in place. Specifically, rates related to all of the customers in our Illinois segment, as well as the residential rates of WE, WPS, and WG in our Wisconsin segment include riders or other mechanisms for cost recovery or refund of uncollectible expense based on the difference between the actual provision for credit losses and the amounts recovered in rates. As a result, at September 30, 2020, $498.3 million, or 54.7%, of our net accounts receivable and unbilled revenues balance had regulatory protections in place to mitigate the exposure to credit losses. In addition, we have received specific orders related to the deferral of certain costs (including credit losses) incurred as a result of the COVID-19 pandemic. The additional protections related to our September 30, 2020 accounts receivable and unbilled revenue balances provided by these orders are subject to prudency reviews and are still being assessed. They are not reflected in the percentages in the above table or this note. See Note 24, Regulatory Environment, for more information on these orders.

Rollforward of the allowances for credit losses by reportable segment

A rollforward of the allowance for credit losses by reportable segment for the three and nine months ended September 30, 2020, is included below:

(in millions)						Wisconsin						Illinois						Other States						Total Utility Operations						Corporate and Other						WEC Energy Group Consolidated
Balance at June 30, 2020						$	77.9					$	82.7					$	4.0					$	164.6					$	0.1					$	164.7
Provision for credit losses						14.8						6.3						1.0						22.1						0.1						22.2
Provision for credit losses deferred for future recovery or refund						2.5						(3.2)						—						(0.7)						—						(0.7)
Write-offs charged against the allowance						(14.5)						(10.0)						(0.9)						(25.4)						—						(25.4)
Recoveries of amounts previously written off						7.8						4.4						0.3						12.5						—						12.5
Balance at September 30, 2020						$	88.5					$	80.2					$	4.4					$	173.1					$	0.2					$	173.3

(in millions)						Wisconsin						Illinois						Other States						Total Utility Operations						Corporate and Other						WEC Energy Group Consolidated
Balance at December 31, 2019						$	59.9					$	75.9					$	4.1					$	139.9					$	0.1					$	140.0
Provision for credit losses						40.8						28.3						2.1						71.2						0.1						71.3
Provision for credit losses deferred for future recovery or refund						11.6						22.4						—						34.0						—						34.0
Write-offs charged against the allowance						(52.2)						(59.5)						(2.9)						(114.6)						—						(114.6)
Recoveries of amounts previously written off						28.4						13.1						1.1						42.6						—						42.6
Balance at September 30, 2020						$	88.5					$	80.2					$	4.4					$	173.1					$	0.2					$	173.3

X

- Definition

Tabular disclosure of allowance for credit loss on accounts receivable.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 20
-Section 50
-Paragraph 13
-URI http://asc.fasb.org/extlink&oid=121599337&loc=SL82919249-210447

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X

- Definition

Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.3,4)
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

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