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OPERATING REVENUES (Tables)

6 Months Ended

Jun. 30, 2023

Disaggregation of Operating Revenues

Operating revenues disaggregated by revenue source

Disaggregation of Operating Revenues

The following tables present our operating revenues disaggregated by revenue source. We do not have any revenues associated with our electric transmission segment, which includes investments accounted for using the equity method. We disaggregate revenues into categories that depict how the nature, amount, timing, and uncertainty of revenues and cash flows are affected by economic factors. For our segments, revenues are further disaggregated by electric and natural gas operations and then by customer class. Each customer class within our electric and natural gas operations has different expectations of service, energy and demand requirements, and can be impacted differently by regulatory activities within their jurisdictions.

(in millions)						Wisconsin						Illinois						Other States						Total Utility Operations						Non-Utility Energy Infrastructure						Corporate and Other						Reconciling Eliminations						WEC Energy Group Consolidated
Three Months Ended June 30, 2023
Electric						$	1,178.5					$	—					$	—					$	1,178.5					$	—					$	—					$	—					$	1,178.5
Natural gas						239.9						260.0						76.9						576.8						14.1						—						(13.6)						577.3
Total regulated revenues						1,418.4						260.0						76.9						1,755.3						14.1						—						(13.6)						1,755.8
Other non-utility revenues						—						—						4.7						4.7						53.3						—						(3.8)						54.2
Total revenues from contracts with customers						1,418.4						260.0						81.6						1,760.0						67.4						—						(17.4)						1,810.0
Other operating revenues						6.1						13.5						0.3						19.9						101.6						0.1						(101.6)			(1)			20.0
Total operating revenues						$	1,424.5					$	273.5					$	81.9					$	1,779.9					$	169.0					$	0.1					$	(119.0)					$	1,830.0

(in millions)						Wisconsin						Illinois						Other States						Total Utility Operations						Non-Utility Energy Infrastructure						Corporate and Other						Reconciling Eliminations						WEC Energy Group Consolidated
Three Months Ended June 30, 2022
Electric						$	1,221.1					$	—					$	—					$	1,221.1					$	—					$	—					$	—					$	1,221.1
Natural gas						329.5						442.2						95.8						867.5						12.0						—						(11.0)						868.5
Total regulated revenues						1,550.6						442.2						95.8						2,088.6						12.0						—						(11.0)						2,089.6
Other non-utility revenues						—						—						4.5						4.5						31.1						—						(4.0)						31.6
Total revenues from contracts with customers						1,550.6						442.2						100.3						2,093.1						43.1						—						(15.0)						2,121.2
Other operating revenues						6.8						0.2						(0.4)						6.6						100.5						0.1						(100.5)			(1)			6.7
Total operating revenues						$	1,557.4					$	442.4					$	99.9					$	2,099.7					$	143.6					$	0.1					$	(115.5)					$	2,127.9

(in millions)						Wisconsin						Illinois						Other States						Total Utility Operations						Non-Utility Energy Infrastructure						Corporate and Other						Reconciling Eliminations						WEC Energy Group Consolidated
Six Months Ended June 30, 2023
Electric						$	2,382.3					$	—					$	—					$	2,382.3					$	—					$	—					$	—					$	2,382.3
Natural gas						1,024.3						837.7						321.9						2,183.9						35.4						—						(34.7)						2,184.6
Total regulated revenues						3,406.6						837.7						321.9						4,566.2						35.4						—						(34.7)						4,566.9
Other non-utility revenues						—						—						9.9						9.9						96.8						—						(5.4)						101.3
Total revenues from contracts with customers						3,406.6						837.7						331.8						4,576.1						132.2						—						(40.1)						4,668.2
Other operating revenues						14.2						35.5						0.1						49.8						203.0						0.1						(203.0)			(1)			49.9
Total operating revenues						$	3,420.8					$	873.2					$	331.9					$	4,625.9					$	335.2					$	0.1					$	(243.1)					$	4,718.1

(in millions)						Wisconsin						Illinois						Other States						Total Utility Operations						Non-Utility Energy Infrastructure						Corporate and Other						Reconciling Eliminations						WEC Energy Group Consolidated
Six Months Ended June 30, 2022
Electric						$	2,408.6					$	—					$	—					$	2,408.6					$	—					$	—					$	—					$	2,408.6
Natural gas						1,076.3						1,122.1						334.0						2,532.4						27.3						—						(25.8)						2,533.9
Total regulated revenues						3,484.9						1,122.1						334.0						4,941.0						27.3						—						(25.8)						4,942.5
Other non-utility revenues						—						—						9.1						9.1						74.8						—						(5.6)						78.3
Total revenues from contracts with customers						3,484.9						1,122.1						343.1						4,950.1						102.1						—						(31.4)						5,020.8
Other operating revenues						14.8						2.4						(2.3)						14.9						201.0						0.3						(201.0)			(1)			15.2
Total operating revenues						$	3,499.7					$	1,124.5					$	340.8					$	4,965.0					$	303.1					$	0.3					$	(232.4)					$	5,036.0

(1)Amounts eliminated represent lease revenues related to certain plants that We Power leases to WE to supply electricity to its customers. Lease payments are billed from We Power to WE and then recovered in WE's rates as authorized by the PSCW and the FERC. WE operates the plants and is authorized by the PSCW and Wisconsin state law to fully recover prudently incurred operating and maintenance costs in electric rates.

Revenues from contracts with customers | Electric

Disaggregation of Operating Revenues

Operating revenues disaggregated by revenue source

The following table disaggregates electric utility operating revenues by customer class:

						Three Months Ended June 30												Six Months Ended June 30
(in millions)						2023						2022						2023						2022
Residential						$	459.1					$	449.7					$	945.6					$	912.8
Small commercial and industrial						401.5						378.4						795.1						748.5
Large commercial and industrial						239.9						268.1						469.7						497.3
Other						7.2						7.2						15.2						15.0
Total retail revenues						1,107.7						1,103.4						2,225.6						2,173.6
Wholesale						30.4						40.8						64.6						83.2
Resale						31.9						60.7						72.5						117.5
Steam						4.6						4.7						15.6						16.8
Other utility revenues						3.9						11.5						4.0						17.5
Total electric utility operating revenues						$	1,178.5					$	1,221.1					$	2,382.3					$	2,408.6

Revenues from contracts with customers | Natural gas

Disaggregation of Operating Revenues

Operating revenues disaggregated by revenue source

The following tables disaggregate natural gas utility operating revenues by customer class:

(in millions)						Wisconsin						Illinois						Other States						Total Natural Gas Utility Operating Revenues
Three Months Ended June 30, 2023
Residential						$	120.1					$	180.0					$	53.6					$	353.7
Commercial and industrial						50.6						42.4						26.2						119.2
Total retail revenues						170.7						222.4						79.8						472.9
Transportation						20.4						48.8						6.2						75.4
Other utility revenues (1)						48.8						(11.2)						(9.1)						28.5
Total natural gas utility operating revenues						$	239.9					$	260.0					$	76.9					$	576.8

(in millions)						Wisconsin						Illinois						Other States						Total Natural Gas Utility Operating Revenues
Three Months Ended June 30, 2022
Residential						$	198.5					$	268.6					$	63.5					$	530.6
Commercial and industrial						102.1						78.2						36.6						216.9
Total retail revenues						300.6						346.8						100.1						747.5
Transportation						18.0						54.5						6.0						78.5
Other utility revenues (1)						10.9						40.9						(10.3)						41.5
Total natural gas utility operating revenues						$	329.5					$	442.2					$	95.8					$	867.5

(in millions)						Wisconsin						Illinois						Other States						Total Natural Gas Utility Operating Revenues
Six Months Ended June 30, 2023
Residential						$	674.9					$	548.9					$	218.1					$	1,441.9
Commercial and industrial						345.8						160.3						117.7						623.8
Total retail revenues						1,020.7						709.2						335.8						2,065.7
Transportation						49.3						125.4						17.1						191.8
Other utility revenues (1)						(45.7)						3.1						(31.0)						(73.6)
Total natural gas utility operating revenues						$	1,024.3					$	837.7					$	321.9					$	2,183.9

(in millions)						Wisconsin						Illinois						Other States						Total Natural Gas Utility Operating Revenues
Six Months Ended June 30, 2022
Residential						$	701.0					$	734.1					$	224.8					$	1,659.9
Commercial and industrial						374.6						236.5						123.4						734.5
Total retail revenues						1,075.6						970.6						348.2						2,394.4
Transportation						43.5						135.4						19.9						198.8
Other utility revenues (1)						(42.8)						16.1						(34.1)						(60.8)
Total natural gas utility operating revenues						$	1,076.3					$	1,122.1					$	334.0					$	2,532.4

(1)Includes the revenues subject to the purchased gas recovery mechanisms of our utilities, which fluctuate by segment based on actual natural gas costs incurred at our utilities, compared with the recovery of natural gas costs that were anticipated in rates.

Revenues from contracts with customers | Other non-utility revenues

Disaggregation of Operating Revenues

Operating revenues disaggregated by revenue source

Other non-utility operating revenues consist primarily of the following:

						Three Months Ended June 30												Six Months Ended June 30
(in millions)						2023						2022						2023						2022
Wind generation revenues						$	43.6					$	21.3					$	79.6					$	57.5
We Power revenues (1)						5.9						5.8						11.8						11.7
Appliance service revenues						4.7						4.5						9.9						9.1
Total other non-utility operating revenues						$	54.2					$	31.6					$	101.3					$	78.3

(1)As part of the construction of the We Power electric utility generating units, we capitalized interest during construction, which is included in property, plant, and equipment. As allowed by the PSCW, we collected these carrying costs from WE's utility customers during construction.

The equity portion of these carrying costs was recorded as a contract liability, which is presented as deferred revenue, net on our balance sheets. We continually amortize the deferred carrying costs to revenues over the related lease term that We Power has with WE.

Other operating revenues

Disaggregation of Operating Revenues

Operating revenues disaggregated by revenue source

Other operating revenues consist primarily of the following:

						Three Months Ended June 30												Six Months Ended June 30
(in millions)						2023						2022						2023						2022
Late payment charges						$	16.2					$	16.3					$	33.4					$	29.9
Alternative revenues (1)						2.1						(11.3)						13.9						(17.3)
Other						1.7						1.7						2.6						2.6
Total other operating revenues						$	20.0					$	6.7					$	49.9					$	15.2

(1)Negative amounts can result from alternative revenues being reversed to revenues from contracts with customers as the customer is billed for these alternative revenues. Negative amounts can also result from revenues to be refunded to customers subject to decoupling mechanisms, wholesale true-ups, conservation improvement rider true-ups, and certain late payment charges.

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