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SHORT-TERM DEBT AND LINES OF CREDIT | 9 Months Ended
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Sep. 30, 2023
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, 2023 |  | December 31, 2022
Commercial paper |  |  |  |
Amount outstanding |  | $ | 1,545.3 |  |  | $ | 1,643.5 |
Weighted-average interest rate on amounts outstanding |  | 5.46 | % |  | 4.64 | %
Operating expense loans |  |  |  |
Amount outstanding (1) |  | $ | 4.0 |  |  | $ | 3.6 |
(1)Coyote Ridge Wind, LLC, Tatanka Ridge, and Jayhawk entered into operating expense loans. In accordance with their limited liability company operating agreements, they received loans from the holders of their noncontrolling interests 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, 2023 was $1,053.3 million with a weighted-average interest rate during the period of 5.17%. 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, 2023
WEC Energy Group |  | September 2026 |  | $ | 1,500.0 |
WE |  | September 2026 |  | 500.0 |
WPS |  | September 2026 |  | 400.0 |
WG |  | September 2026 |  | 350.0 |
PGL |  | 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 |  |  |  | 1,545.3 |
Available capacity under existing agreements |  |  |  | $ | 1,552.4 |
In October 2023, WEC Energy Group entered into a new $200.0 million credit facility that expires October 2024.

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- Definition The entire disclosure for short-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 470 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//470/tableOfContent + Details
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