WEC Energy Group, Inc. is a diversified holding company that provides regulated natural gas and electricity, renewable energy, and nonregulated renewable energy through its subsidiaries. The company's core business model focuses on providing reliable and affordable energy to customers in Wisconsin, Illinois, Michigan, and Minnesota. WEC Energy Group has a significant presence in the Midwest region and owns an approximately 60% equity interest in ATC, an electric transmission company operating in Illinois, Michigan, Minnesota, and Wisconsin. The company has competitive advantages through its diverse generation portfolio and its participation in the MISO Energy Markets.

• Employees: 7,000 (as of December 31, 2023)
• Geographic Footprint: Wisconsin, Illinois, Michigan, and Minnesota
• Headquarters: Milwaukee, WI
• Founded: 1981
• Number of locations/facilities: Not explicitly stated, but includes numerous generation, distribution, and storage facilities
• Revenue: $8.9 billion (FY2023)
• Market Capitalization: $27.8 billion (as of June 30, 2023, based on non-affiliate holdings)
• Key Subsidiaries/Brands: WE, WPS, WG, UMERC, ATC, WECI, Bluewater, PGL, NSG, MERC, MGU, WBS, WECC, Wisvest, and PDL

• CEO: Scott J. Lauber
• CFO: Xia Liu
• Executive Chairman: Gale E. Klappa
• Other Key Executives: Robert M. Garvin (Executive Vice President - External Affairs), William J. Guc (Controller), Margaret C. Kelsey (Executive Vice President, Corporate Secretary and General Counsel), Daniel P. Krueger (Executive Vice President - WEC Infrastructure), William Mastoris (Executive Vice President – Customer Service and Operations), Molly A. Mulroy (Executive Vice President and Chief Administrative Officer), Anthony L. Reese (Vice President and Treasurer), Joshua M. Erickson (Vice President and Deputy General Counsel), Mary Beth Straka (Senior Vice President - Corporate Communications and Investor Relations)

Key leaders have extensive experience in the energy and utility sectors.

• Annual Revenue: $8.9 billion (FY2023)
• Net Income: $1.3 billion (FY2023)
• Market Cap: $27.8 billion (as of June 30, 2023, based on non-affiliate holdings)
• Total Assets: $43.9 billion (as of December 31, 2023)
• Number of Employees: 7,000 (as of December 31, 2023)
• Key Financial Highlights: Net income decreased by $76.4 million compared to 2022, primarily due to increased interest expense and an impairment loss in the Illinois segment.

WEC Energy Group provides a range of products and services across its operating segments:

• Electricity Generation and Distribution: Generation, transmission, and distribution of electricity to retail and wholesale customers. This includes a mix of coal, natural gas, and renewable energy sources.
• Natural Gas Distribution: Distribution of natural gas to residential, commercial, and industrial customers. Also provides natural gas transportation services.
• Renewable Energy: Development and operation of renewable energy facilities, including wind, solar, and biomass.
• Energy Storage: Operation of battery storage systems.
• Steam: Generation and distribution of steam for heating and industrial processes in Milwaukee.

WEC Energy Group operates through six reportable segments:

• Wisconsin: Electric and natural gas utility operations in Wisconsin.
• Illinois: Natural gas utility operations in Illinois.
• Other States: Natural gas utility operations in Minnesota and Michigan, and non-utility operations of MERC.
• Electric Transmission: Ownership and operation of electric transmission systems through ATC.
• Non-Utility Energy Infrastructure: Ownership and operation of non-regulated energy infrastructure assets, including generation facilities and natural gas storage.
• Corporate and Other: Includes the holding company operations and other non-utility activities.

Revenue breakdown by segments is provided in the financial statements, but specific percentages are not provided in the text.

WEC Energy Group's business strategy is focused on providing reliable, affordable, and environmentally responsible energy to its customers. Key strategic initiatives include:

• Retiring older, fossil-fueled generation and replacing it with zero-carbon-emitting renewables and clean natural gas-fired generation.
• Investing in renewable energy resources, including wind, solar, and battery storage.
• Improving energy efficiency and reducing methane emissions.
• Modernizing and strengthening the electric and natural gas distribution systems.
• Maintaining a strong financial position and a growing dividend.

The company is committed to achieving net-zero carbon emissions from its generation fleet by 2050.

WEC Energy Group operates primarily in the regulated energy utility industry, which is characterized by:

• Primary Industry: Regulated electric and natural gas utilities.
• Market Trends: Increasing focus on renewable energy, electrification, energy efficiency, and grid modernization.
• Key Competitors: Other utilities and alternative energy providers in the Midwest region.
• Market Share: Specific market share information is not provided in the text.

The company faces competition from various entities and other forms of energy sources available to customers, including self-generation by customers and alternative energy sources.

• Regulatory Risks: Changes in rate-setting policies, environmental regulations, and other regulatory decisions could impact the company's ability to recover costs and earn a reasonable return on investment.
• Market Risks: Fluctuations in commodity prices, including natural gas and electricity, could affect the company's operating costs and profitability.
• Operational Risks: Catastrophic weather events, environmental incidents, and unplanned facility outages could disrupt operations and impact financial results.
• Financial Risks: Changes in interest rates, credit ratings, and access to capital markets could affect the company's ability to finance operations and capital projects.
• Cybersecurity Risks: The company is subject to cybersecurity intrusions, which could disrupt operations and compromise sensitive data.