Business UpdateMay 11, 2026, 04:20 PM
WEC Energy Group Outlines $37.5B Capital Plan, Targets 7-8% EPS Growth
AI Summary
WEC Energy Group presented an investor update outlining its strategic direction and financial outlook. The company announced its largest-ever five-year capital plan of $37.5 billion for 2026-2030, which is expected to drive long-term EPS growth of 7.0% to 8.0%. Key regulatory developments include the verbal approval of a Wisconsin Very Large Customer Tariff and a proposed settlement in Illinois resolving $2.3 billion in open dockets.
Key Highlights
- WEC Energy Group outlines a $37.5 billion capital plan for 2026-2030, the largest in company history.
- Targets long-term EPS growth of 7.0% to 8.0% on a compound annual basis.
- Dividend raised by 6.7% to a new annual rate of $3.81 per share, marking the 23rd consecutive year of increases.
- Illinois proposed settlement resolves $2.3 billion in open dockets, including $130 million gross plant reduction.
- Wisconsin Very Large Customer (VLC) Tariff verbally approved for customers with 100 MW or more of new load.
- Forecasts 3.9 GW (~45%) of electric demand growth through 2030, driven by data centers.
- Plans to invest $12.6 billion in regulated renewables (6,535 MW) and $7.4 billion in thermal generation.
- Aims to eliminate coal as an energy source by the end of 2032, with net carbon neutral electric generation by 2050.