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PROPERTY, PLANT, AND EQUIPMENT | 9 Months Ended
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Sep. 30, 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 Solar Park, 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. On June 25, 2025, we announced plans to extend the lives of OCPP Units 7 and 8, and expect to have the units available to meet high energy demand periods through the end of 2026. These units were originally scheduled to be retired at the end of 2025. The total net book value of WE's ownership share of OCPP Units 7 and 8 was $630.4 million at September 30, 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. Through June 30, 2025, Columbia Units 1 and 2 were expected to be retired by the end of 2029 and, therefore, met the criteria to be considered probable of abandonment. In conjunction with our new capital plan, we and the other co-owners currently plan to continue coal operations at Columbia Units 1 and 2 through at least 2029, and continue to evaluate the conversion of both units to natural gas. As a result, at September 30, 2025, we and the other co-owners concluded that Columbia Units 1 and 2 (net book value of WPS's ownership share of Columbia Units 1 and 2 was $239.9 million at September 30, 2025, which does not include deferred taxes) no longer meet the criteria necessary to be considered probable of abandonment. At September 30, 2025, these units continue to be 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 Solar Energy 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. We had previously recognized an impairment loss of $2.8 million related to damage from these storms, and recorded an offsetting $2.8 million receivable for future insurance recoveries. However, in the second quarter of 2025, we determined it was no longer probable that we would receive insurance proceeds sufficient to recover our losses associated with the 2023 and 2024 storms. As a result, the insurance receivable balance was written off, resulting in the recognition of the $2.8 million impairment loss within other operation and maintenance expense on our income statement. In addition, in March 2025, both our Samson I and Delilah I solar facilities experienced damage from a storm. In the second quarter of 2025, we recognized an impairment loss within other operation and maintenance expense on our income statement in the amount of $8.8 million, related to damage incurred associated with the March 2025 storm. The impairment loss associated with the March 2025 storm was increased from $8.8 million to $12.0 million in the third quarter of 2025 as a result of ongoing damage assessment.

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