WEC Energy Group 8-K, filed Aug 18, 2026

Summary

Wisconsin Electric Power Company, a subsidiary of WEC Energy Group, entered into a 20-year power purchase agreement with NextEra Energy Point Beach LLC to buy 86% of the capacity, energy, ancillary services and environmental attributes of Point Beach Nuclear Power Plant Units 1 and 2, with terms running from 2030 and 2033 respectively. WEPCO is seeking Public Service Commission of Wisconsin approval, and either party may terminate the agreement if that approval is not obtained by January 1, 2028, a date extendable to July 1, 2028; WEPCO says the agreement would save customers money versus the current contract with NEPB.

Key points

• The agreement covers 86% of the capacity, energy, ancillary services and environmental attributes of Point Beach Units 1 and 2.
• The Unit 1 term runs October 6, 2030 through October 5, 2050, and the Unit 2 term runs March 9, 2033 through March 8, 2053.
• The current power purchase agreement between NEPB and WEPCO for Unit 1 expires October 5, 2030, and for Unit 2 on March 8, 2033.
• If PSCW approval is not obtained by January 1, 2028, that deadline automatically extends to July 1, 2028 provided approval remains obtainable and WEPCO is pursuing it in good faith.

Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.