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SHORT-TERM DEBT AND LINES OF CREDIT (Tables) | 9 Months Ended
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Sep. 30, 2021
Short-term Debt [Abstract] |
Schedule of short-term borrowings and weighted-average interest rates | The following table shows our short-term borrowings and their corresponding weighted-average interest rates:
(in millions, except percentages) |  | September 30, 2021 |  | December 31, 2020
Commercial paper |  |  |  |
Amount outstanding |  | $ | 1,508.4 |  |  | $ | 1,436.9 |
Weighted-average interest rate on amounts outstanding |  | 0.16 | % |  | 0.21 | %
Term loan |  |  |  |
Amount outstanding |  | $ | — |  |  | $ | 340.0 |
Weighted-average interest rate on amounts outstanding |  | N/A |  | 0.99 | %
Operating expense loans |  |  |  |
Amount outstanding (1) |  | $ | 0.5 |  |  | $ | — |
(1)Coyote Ridge and Tatanka Ridge entered into operating expense loans and borrowed funds from their noncontrolling interests. In accordance with their limited liability company operating agreements, Coyote Ridge and Tatanka Ridge r eceived loans from their owners in proportion to their ownership interests.
Schedule of credit agreements and remaining available capacity | The information in the table below relates to our revolving credit facilities used to support our commercial paper borrowing programs, including remaining available capacity under these facilities:
(in millions) |  | Maturity |  | September 30, 2021
WEC Energy Group (1) |  | September 2026 |  | $ | 1,500.0 |
WE (1) |  | September 2026 |  | 500.0 |
WPS (2) |  | October 2022 |  | 400.0 |
WG (1) |  | September 2026 |  | 350.0 |
PGL (1) |  | September 2026 |  | 350.0 |
Total short-term credit capacity |  |  |  | $ | 3,100.0 |
Less: |  |  |  |
Letters of credit issued inside credit facilities |  |  |  | $ | 2.3 |
Commercial paper outstanding |  |  |  | 1,508.4 |
Available capacity under existing agreements |  |  |  | $ | 1,589.3 |
(1) In September 2021, WEC Energy Group increased its credit facility to $1,500.0 million, and each of WEC Energy Group, WE, WG, and PGL extended the maturities of their credit facilities to September 2026. (2) WPS intends to request approval from the PSCW to extend the maturity of its facility to September 2026.

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- Definition Tabular disclosure of short-term or long-term contractual arrangements with lenders, including letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. + 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 210.5-02.19(b),22(b)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
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- Definition Tabular disclosure of short-term debt arrangements (having initial terms of repayment within one year or the normal operating cycle, if longer) including: (1) description of the short-term debt arrangement; (2) identification of the lender or type of lender; (3) repayment terms; (4) weighted average interest rate; (5) carrying amount of funds borrowed under the specified short-term debt arrangement as of the balance sheet date; (6) description of the refinancing of a short-term obligation when that obligation is excluded from current liabilities in the balance sheet; and (7) amount of a short-term obligation that has been excluded from current liabilities in the balance sheet because of a refinancing of the obligation. + 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 210.5-02.19) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
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