WEC expands capital plan 34% to $37.5B on Microsoft, Vantage data center deals

Filed May 7, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 7, 2025 · ~2 min read

Key Changes

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  Microsoft and Vantage Data Centers commit to up to 6.1 GWs of new load in Wisconsin through 2030+, with PSCW approval of new Very Large Customer tariffs designed to protect existing ratepayers and shareholders while serving hyperscale demand.

  MD&A: Data Center Load Growth verify on EDGAR →
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  Five-year capital plan increased from $28.0B to $37.5B (2026-2030), with generation investments accelerated: battery storage nearly quadrupled to 2,130 MWs, solar up 33% to 3,850 MWs, natural gas generation doubled to 3,480 MWs.

  MD&A: Capital Plan verify on EDGAR →
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  Proposed Illinois settlement resolves UEA and QIP disputes with $255M in customer refunds and rate base reductions, eliminating regulatory overhang on $2.8B of infrastructure investments (settlement pending ICC approval).

  MD&A: Illinois Settlement verify on EDGAR →