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SHORT-TERM DEBT AND LINES OF CREDIT | 6 Months Ended
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Jun. 30, 2024
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) |  | June 30, 2024 |  | December 31, 2023
Commercial paper |  |  |  |
Amount outstanding |  | $ | 756.8 |  |  | $ | 2,017.2 |
Weighted-average interest rate on amounts outstanding |  | 5.46 | % |  | 5.49 | %
Operating expense loans |  |  |  |
Amount outstanding (1) |  | $ | 4.5 |  |  | $ | 3.7 |
(1)Coyote Ridge Wind, LLC, Tatanka Ridge, and Jayhawk have 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 six months ended June 30, 2024 was $1,836.4 million with a weighted-average interest rate during the period of 5.50%. 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 |  | June 30, 2024
WEC Energy Group |  | September 2026 |  | $ | 1,500.0 |
WEC Energy Group |  | October 2024 |  | 200.0 |
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 |  |  |  | $ | 3,300.0 |
Less: |  |  |  |
Letters of credit issued inside credit facilities |  |  |  | $ | 2.3 |
Commercial paper outstanding |  |  |  | 756.8 |
Available capacity under existing agreements |  |  |  | $ | 2,540.9 |

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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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