Wisconsin Electric Power Company filed a current report on August 18, 2026, disclosing that it entered into a 20-year Power Purchase Agreement with Nextera Energy Point Beach LLC on August 14, 2026, covering capacity from both units of the Point Beach Nuclear Power Plant.

Key Highlights

  • Agreement date: The Power Purchase Agreement was executed on August 14, 2026.
  • Coverage: WEPCO agreed to purchase 86% of the capacity, energy, ancillary services, and environmental attributes of each of Unit 1 and Unit 2 of Point Beach Nuclear Power Plant.
  • Term for Unit 1: 20 years, from October 6, 2030 through October 5, 2050.
  • Term for Unit 2: 20 years, from March 9, 2033 through March 8, 2053.
  • Regulatory condition: The PPA is subject to approval by the Public Service Commission of Wisconsin, with a termination right if approval is not obtained before January 1, 2028, extendable automatically to July 1, 2028 under specified conditions.
  • Customer savings: According to the filing, if approved, the PPA "will result in savings for customers as compared to the terms of the current power purchase agreement" with NEPB.

Wisconsin Electric Power Company's Point Beach Nuclear PPA: Key Terms and Regulatory Path

Wisconsin Electric Power Company ("WEPCO"), a subsidiary of WEC Energy Group, Inc. (NYSE:WEC), disclosed in the August 18, 2026 filing that it entered into a Power Purchase Agreement with Nextera Energy Point Beach LLC ("NEPB") on August 14, 2026. Under the agreement, WEPCO will purchase 86% of the capacity, energy, ancillary services, and environmental attributes of each of Unit 1 and Unit 2 at the Point Beach Nuclear Power Plant. The current power purchase agreement between NEPB and WEPCO expires on October 5, 2030 for Unit 1 and March 8, 2033 for Unit 2.

The new PPA sets separate 20-year terms for each unit: Unit 1 runs from October 6, 2030 through October 5, 2050, and Unit 2 runs from March 9, 2033 through March 8, 2053. WEPCO is pursuing approval of the agreement from the Public Service Commission of Wisconsin. The filing states that either party may terminate the PPA if PSCW approval is not obtained before January 1, 2028. That deadline will be automatically extended to July 1, 2028 if, as of January 1, 2028, PSCW approval is capable of being obtained and WEPCO is pursuing approval in good faith.

The filing states that if the PSCW approves the agreement, it "will result in savings for customers as compared to the terms of the current power purchase agreement" between NEPB and WEPCO. The report was signed by William J. Guc, Vice President and Controller, on behalf of both WEC Energy Group, Inc. and Wisconsin Electric Power Company.

What Was Disclosed

WEPCO disclosed entering a 20-year PPA with NEPB for 86% of the output of both Point Beach nuclear units, contingent on Public Service Commission of Wisconsin approval, with a termination right if that approval is not secured by January 1, 2028, or July 1, 2028 under certain conditions.