Why did WEC Energy Group file this 8-K?

The company filed under Item 7.01 (Regulation FD Disclosure) to furnish presentation slides (Exhibit 99.1) that its representatives will use in upcoming meetings with investors. The filing states the slides are an investor update dated September 2026.

What is the company's long-term earnings and dividend outlook?

The presentation projects long-term EPS growth of 7.0% to 8.0% on a compound annual basis, supported by the 2026-2030 capital plan. It expects dividend growth of 6.5-7% and targets a payout ratio of 65-70% of earnings.

How large is the capital plan and what drives it?

The 2026-2030 capital plan totals $37.5 billion, including $12.6 billion in regulated renewables, $6.1 billion in thermal generation and $1.3 billion in LNG storage. The presentation attributes demand growth largely to data center and large-customer load, forecasting 2.6 GW of demand through 2030.

What regulatory decisions are expected soon?

The presentation lists Wisconsin and Illinois general rate review decisions, the Wisconsin Very Large Customer tariff matters, and Illinois rider reconciliations, with decisions expected in Q4 2026. New rates from the rate reviews are targeted to take effect January 1, 2027.

How is the company funding the capital plan?

The presentation shows 2026-2030 cash from operations of $20.5 to $21.5 billion, common equity of $5.3 to $5.7 billion, and incremental debt of $14.2 to $14.8 billion, including $5.0 to $6.0 billion of junior subordinated notes or other securities with equity content. It cites $2.3 billion of net liquidity as of August 31, 2026.

WEC 8-K: Regulation FD

01—Abstract

Summary

Summary of the 8-K filed September 4, 2026. Cited figures are marked; the original filing is the authoritative source.

WEC Energy Group, Inc. filed this Form 8-K on September 4, 2026 under Item 7.01 (Regulation FD Disclosure) to furnish an investor update presentation (Exhibit 99.1) for upcoming meetings with investors.

The filing itself contains no new financial results, guidance changes, or transactions beyond what the slides present. The September 2026 investor update reiterates a 2026 adjusted EPS guidance midpoint of $5.56^a per share, a dividend raised 6.7% in January to an annualized $3.81 per share, and an expected dividend growth rate of 6.5-7%. The company projects a 2026-2030 capital plan of $37.5 billion, described as its largest five-year plan, supporting long-term EPS growth of 7.0% to 8.0%.

It also shows an average asset base projected to reach $59.6 billion^b in 2030, up from $34.2 billion in 2025. Key pending regulatory items include Wisconsin and Illinois rate reviews with decisions expected in Q4 2026 for new rates effective January 1, 2027, the Point Beach power purchase agreement extension with NextEra (seeking PSCW approval), and the Oak Creek combustion turbine project. Load growth is driven largely by data center demand along the I-94 corridor, with the slides citing 2.6 GW of forecasted demand through 2030.

02—Key points

Key Highlights

2026 EPS guidance midpoint of $5.56 per share, within a $5.51-$5.61 range; the company cites 22 consecutive years of meeting or exceeding the top end of earnings guidance on an adjusted basis.
Annualized dividend of $3.81 per share after a 6.7% increase in January; company expects dividend growth of 6.5-7% and targets a 65-70% payout ratio.
2026-2030 capital plan of $37.5 billion, the largest five-year plan in company history, supporting projected long-term EPS growth of 7.0% to 8.0%.
Wisconsin and Illinois rate reviews filed in 2026; orders expected in Q4 2026 for new rates effective January 1, 2027. Proposed Wisconsin Electric electric base rate increase is 4.7% for 2027, and Peoples Gas requested $201.3 million.
Wisconsin Very Large Customer tariff approved by the PSCW on May 21, 2026, with a fixed ROE range of 10.48% to 10.98% and 57% equity ratio for qualifying customers.
Point Beach PPA extension with NextEra covering roughly 1 GW of carbon-free capacity, extending Unit 1 to October 2050 and Unit 2 to March 2053, pending PSCW approval.
Illinois Commerce Commission approved a rider settlement on May 21, 2026, resolving 12 open dockets totaling approximately $2.3 billion excluding carry costs, including a $75 million cash credit and $50 million cash credit payable over three years.

03—Questions

Frequently Asked Questions

Why did WEC Energy Group file this 8-K?
The company filed under Item 7.01 (Regulation FD Disclosure) to furnish presentation slides (Exhibit 99.1) that its representatives will use in upcoming meetings with investors. The filing states the slides are an investor update dated September 2026.
What is the company's long-term earnings and dividend outlook?
The presentation projects long-term EPS growth of 7.0% to 8.0% on a compound annual basis, supported by the 2026-2030 capital plan. It expects dividend growth of 6.5-7% and targets a payout ratio of 65-70% of earnings.
How large is the capital plan and what drives it?
The 2026-2030 capital plan totals $37.5 billion, including $12.6 billion in regulated renewables, $6.1 billion in thermal generation and $1.3 billion in LNG storage. The presentation attributes demand growth largely to data center and large-customer load, forecasting 2.6 GW of demand through 2030.
What regulatory decisions are expected soon?
The presentation lists Wisconsin and Illinois general rate review decisions, the Wisconsin Very Large Customer tariff matters, and Illinois rider reconciliations, with decisions expected in Q4 2026. New rates from the rate reviews are targeted to take effect January 1, 2027.
How is the company funding the capital plan?
The presentation shows 2026-2030 cash from operations of $20.5 to $21.5 billion, common equity of $5.3 to $5.7 billion, and incremental debt of $14.2 to $14.8 billion, including $5.0 to $6.0 billion of junior subordinated notes or other securities with equity content. It cites $2.3 billion of net liquidity as of August 31, 2026.

04—Continue

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