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SHORT-TERM DEBT AND LINES OF CREDIT | 9 Months Ended
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Sep. 30, 2021
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:
(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. Our average amount of commercial paper borrowings based on daily outstanding balances during the nine months ended September 30, 2021 was $1,415.4 million with a weighted-average interest rate during the period of 0.17%. In order to enhance our liquidity position in response to the COVID-19 pandemic, in March 2020, WEC Energy Group entered into a $340.0 million 364-day term loan. In March 2021, we repaid the term loan using the net proceeds from the issuance of our 0.80% Senior Notes. See Note 9, Long-Term Debt, for more information. 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 The entire disclosure for short-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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