XML 27 R15.htm IDEA: XBRL DOCUMENT

PROPERTY, PLANT, AND EQUIPMENT	3 Months Ended
PROPERTY, PLANT, AND EQUIPMENT	Mar. 31, 2025
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT, AND EQUIPMENT	PROPERTY, PLANT, AND EQUIPMENT Wisconsin Segment Plant to be Retired Oak Creek Power Plant Units 7-8 As a result of a PSCW approval in December 2022 for the acquisition and construction of Darien, the retirement of OCPP Units 7 and 8 became probable. Subsequently, we have received PSCW approval for several other renewable and other projects and have also acquired additional projects. OCPP Units 7 and 8 are expected to be retired by late 2025. The total net book value of WE's ownership share of OCPP Units 7 and 8 was $648.1 million at March 31, 2025, which does not include deferred taxes. This amount was classified as plant to be retired within property, plant, and equipment on our balance sheet. These units are included in rate base, and WE continues to depreciate them on a straight-line basis using the composite depreciation rates approved by the PSCW. Columbia Energy Center Units 1 and 2 As a result of a MISO ruling received in June 2021, retirement of the jointly-owned Columbia Units 1 and 2 became probable. Columbia Units 1 and 2 are expected to be retired by the end of 2029, and we and the other co-owners are exploring the conversion of at least one unit to natural gas. The total net book value of WPS's ownership share of Columbia Units 1 and 2 was $246.6 million at March 31, 2025, which does not include deferred taxes. This amount was classified as plant to be retired within property, plant, and equipment on our balance sheet. These units are included in rate base, and WPS continues to depreciate them on a straight-line basis using the composite depreciation rates approved by the PSCW. Samson I Solar Energy Center LLC and Delilah Solar Energy LLC – Storm Damage During several storms that occurred in 2023 and 2024, certain sections of our Samson I solar facility incurred damage. As of March 31, 2025, we recognized an impairment of $2.8 million related to damage from these storms, and recorded a $2.8 million receivable for future insurance recoveries. Although we may experience differences between periods in the timing of cash flows, we do not currently expect a significant impact to our long-term cash flows from these storms. In March 2025, both our Samson I and Delilah I solar facilities experienced damage from a storm. We are still assessing the extent of the damage at both of these facilities and we do have insurance coverage in place. As a result, similar to the storms discussed above, although we may experience differences between periods in the timing of cash flows related to necessary repairs and lost revenues, we do not currently expect a significant impact to our long-term cash flows related to this storm.