Morningstar | Full Wisconsin Regulatory Calendar for WEC Energy Group
WEC Energy Group is the largest Midwest utility, with nearly $20 billion in rate base and nearly all earnings derived from regulated operations. Roughly 84% of earnings will come from constructive Wisconsin and Federal Energy Regulatory Commission regulation. Illinois regulation has improved, producing higher returns and less regulatory lag for its Chicago gas infrastructure investment.Infrastructure investment in Integrys' Chicago service territory could hit $280 million to $300 million annually with a 20-year runway of investment opportunities as part of the Natural Gas System Modernization Program. The company will recognize immediate earnings on infrastructure investments under the qualified infrastructure plan rider. New management at Peoples Gas has turned the project around and regained key stakeholder support.WEC Energy Group is also working to reduce its carbon footprint, resulting in new natural gas investments and up to 350 MW of solar in Wisconsin by 2020. The company's $14.1 billion of planned capital spending, which includes its American Transmission Company, or ATC, spend, supports management's projected 5%-7% earnings growth, with higher dividend growth to achieve a 65%-70% dividend payout. Other growth opportunities include system modernization across its Wisconsin Public Service territory, advanced metering infrastructure across its Wisconsin footprint, natural gas storage, renewable generation, proposed new generation in the Upper Peninsula in Michigan. Renewable energy will be a focus for WEC. In Wisconsin, the company has received regulatory approval for 300 MW at two separate locations. WEC will own 200 MW for a total $260 million investment. The company has also allocated $1.0 billion for unregulated renewable energy infrastructure investments, which have have regulated-like returns. Management has made three wind generation purchases thus far, and we expect there will be more.WEC Energy Group holds a 60% majority stake in ATC, through which it earns above-average equity returns. Year-end rate base was $3.5 billion, with ATC forecasting an additional $2.8 billion to $3.4 billion in transmission investments through 2027.WEC Energy Group is a holding company. Through its subsidiaries, the company provides regulated natural gas and electricity, and nonregulated renewable energy. The company's segments include: Wisconsin, which generates and distributes electric energy and provides retail natural gas distribution service; Illinois, which includes the natural gas utility operations; Electric Transmission, which owns, maintains, monitors, and operates electric transmission systems in Wisconsin, Michigan, Illinois, and Minnesota; and Non-Utility Energy Infrastructure, which owns and leases generating facilities to its Wisconsin Electric Power Company subsidiary and owns underground natural gas storage facilities in Michigan.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.