The company expects to invest approximately $7.0 billion from 2024-2028 in regulated renewable energy in Wisconsin, which includes 2,700 MWs of utility-scale solar, 880 MWs of wind, and 250 MWs of battery storage.

In March 2024, WECI signed an agreement to acquire a 90% ownership interest in Delilah I, a 300 MW solar generating facility under construction in Lamar County, Texas, for approximately $459.0 million. The transaction is subject to FERC approval and commercial operation is expected to begin by the end of the second quarter of 2024, at which time the transaction is expected to close.

In April 2024, WE filed a request with the PSCW to build five natural gas fired combustion turbines capable of producing approximately 1,100 MWs which would be located at the existing Oak Creek campus. If approved, the cost of this project is estimated to be approximately $1.2 billion.

The company is making progress on the AMI program, replacing aging meter-reading equipment, and continues to focus on integrating resources of all businesses to find the best and most efficient processes.

A multiyear effort is driving a standardized, seamless approach to digital customer service across our companies. We have moved all utilities to a common platform for all customer-facing self-service options. Using common systems and processes reduces costs, provides greater flexibility and enhances the consistent delivery of exceptional service to customers.

A strong adherence to financial discipline is essential to meeting our earnings projections and maintaining a strong balance sheet, stable cash flows, a growing dividend, and quality credit ratings.

The EPA has indicated it plans to release its Integrated Review Plan in fall 2024. This new review is anticipated to take 3 to 5 years to complete. If the moderate attainment deadline is not met, the EPA will propose the nonattainment areas in Wisconsin be redesignated as serious nonattainment based on 2021-2023 data.

In March 2023, the EPA issued the proposed 'supplemental ELG rule.' The rule would replace the existing 2020 ELG rule and, as proposed, would establish stricter limitations on: 1) BATW; 2) FGD wastewater; 3) CCR leachate; and 4) legacy wastewaters. The most significant proposed ELG rule change is a ZLD requirement for FGD wastewater.

The UFLPA establishes a rebuttable presumption that any imports wholly or partially manufactured in Xinjiang are prohibited from entering the United States. In August 2023, the DOC issued its final decision, substantially affirming its December 2022 preliminary determination that circumvention was occurring in each of the four Southeast Asian countries noted above.

On April 12, 2024, WE, WPS, and WG filed requests with the PSCW to increase their retail electric, natural gas, and steam rates, as applicable, effective January 1, 2025 and January 1, 2026.

As of March 31, 2024, MERC had recorded a regulatory liability of $10.8 million for refunds due to customers. These amounts will be refunded to customers during the second quarter of 2024.

If approved by the city council, the CABO is expected to become effective one year after the approval date. PGL's future natural gas operations could be materially adversely impacted if the CABO is passed.

We are making progress on our AMI program, replacing aging meter-reading equipment on both our network and customer property. An integrated system of smart meters, communication networks, and data management programs enables two-way communication between our utilities and our customers.

We have moved all utilities to a common platform for all customer-facing self-service options. Using common systems and processes reduces costs, provides greater flexibility and enhances the consistent delivery of exceptional service to customers.

We continue to focus on integrating the resources of all our businesses and finding the best and most efficient processes.

In December 2023, we started a pilot program with Electric Power Research Institute and CMBlu Energy, a Germany-based designer and manufacturer, to test a new form of long-duration energy storage on the U.S. electric grid at our Valley Power Plant.

In August 2021, the PSCW approved pilot programs for WE and WPS to install and maintain EV charging equipment for customers at their homes or businesses.

We also continue to reduce methane emissions by improving our natural gas distribution systems, and have set a target across our natural gas distribution operations to achieve net-zero methane emissions by the end of 2030.

The company expects to invest approximately $7.0 billion from 2024-2028 in regulated renewable energy in Wisconsin, which includes 2,700 MWs of utility-scale solar, 880 MWs of wind, and 250 MWs of battery storage.

The company also plans on investing in a combination of clean, natural gas-fired generation, to be owned by WE, including: 1,100 MWs of combustion turbines to be constructed in Oak Creek, 128 MWs of RICE natural gas-fueled generation to be constructed in Kenosha County, and the purchase of 100 MWs of additional capacity in West Riverside.

In January 2024, our Board of Directors increased our quarterly dividend by $0.055 per share (7.1%) effective with the March 2024 dividend payment.

In May 2021, we announced goals to achieve reductions in carbon emissions from our electric generation fleet by 60% by the end of 2025 and by 80% by the end of 2030, both from a 2005 baseline. Over the longer term, the target for our generation fleet is to be net carbon neutral by 2050.

Our ESG Progress Plan includes the retirement of older, fossil-fueled generation, to be replaced with zero-carbon-emitting renewables and clean natural gas-fired generation. We have already retired more than 1,900 MWs of fossil-fueled generation since the beginning of 2018.

We also continue to reduce methane emissions by improving our natural gas distribution system, and have set a target across our natural gas distribution operations to achieve net-zero methane emissions by the end of 2030.

The increase in margins was partially offset by a $0.8 million decrease in margins related to lower retail sales volumes, including steam operations, driven by the impact of warmer winter weather during the first quarter of 2024, compared with the same quarter in 2023.

In January 2023, PGL and NSG filed requests with the ICC to increase their natural gas base rates. On November 16, 2023, the ICC issued final written orders approving base rate increases for PGL and NSG.

The FERC currently allows transmission utilities, including ATC, to increase their ROE by 50 basis points as an incentive for membership in a transmission organization, such as MISO. This incentive was established to stimulate infrastructure development and to support the evolving electric grid.