Wisconsin Regulator Voids Completeness Ruling On Transmission Line Tied To WEC's Port Washington Data Center
The state's September order called the Ozaukee application "unreasonably complicated"; ATC refiled, and WEC's capital plan now stands at $47.5 billion.
Wisconsin regulators have rescinded their earlier finding that a transmission application was complete. The project is central to WEC Energy Group's effort to supply the Port Washington data center now being built, the company said in its quarterly report filed Friday.
A September order resets the review
WEC Energy Group, the Milwaukee holding company behind We Energies, said American Transmission Company, in which it holds about 60%, filed its application for the Ozaukee County Distribution Interconnection Project in September 2025. The project includes new transmission lines, rebuilt and upgraded existing lines, and up to five new substations.
The Public Service Commission of Wisconsin deemed the application complete in December 2025. On September 10, 2026, after ATC kept revising and adding to its filings, the commission withdrew that finding, calling the application "unreasonably complicated".
At the commission's request, ATC refiled on September 14, 2026. WEC is tracking the case for effects on its capital plan and earnings. The prior quarter's report carried no such order.
A capital plan that grew to $47.5 billion
The filing cites a $47.5 billion capital plan, made up of about $42.2 billion for regulated utilities from 2027 to 2031 and about $5.3 billion for WEC's share of ATC's spending. Regulated Wisconsin renewables now total about $13.7 billion for 2027 to 2031, against $12.6 billion for 2026 to 2030 in the prior report.
WEC's capital table puts 2027 spending on Wisconsin very-large-customer and Bespoke Resources projects at $4,300.0 million, against $3,001.2 million for the rest of Wisconsin. Wisconsin regulators approved the tariffs for those customers in May. Vantage Data Centers' Port Washington campus is forecast to add 1.3 gigawatts of demand through 2031, and Microsoft has announced plans to invest over $20 billion in southeastern Wisconsin data centers.
Earnings, balance sheet and share sales
Third-quarter net income attributed to common shareholders was $389.3 million, or $1.18 per diluted share, up from $271.3 million, or $0.83, a year earlier. The company raised and narrowed its 2026 earnings guidance to $5.60 to $5.64 per share, from $5.51 to $5.61, in its earnings release.
Property, plant and equipment stood at $40,791.3 million at September 30. WEC sold 3,027,623 shares at $114.79 on average, netting $347.5 million. WEC's market value was $37.4 billion in the original report.
The commission now has ATC's refiled application, and WEC has said it is watching for any effect on its capital plan and earnings.
Sources
- 10-Q Filing — WEC Energy Group (WEC) — SEC EDGAR
- 10-Q Filing — WEC Energy Group (WEC), Q2 FY2026 filed 2026-08-04 (comparison basis) — SEC EDGAR
- Earnings release (8-K Item 2.02, a2026q3wecearningsreleasee.htm) — WEC Energy Group, filed 2026-10-29 — SEC EDGAR
- WEC Energy Group (WEC) Surpasses Q3 Earnings and Revenue Estimates — Yahoo Finance
- WEC Energy GAAP EPS of $1.18 beats by $0.20, revenue of $2.29B beats by $90M (WEC:NYSE) | Seeking Alpha — seekingalpha.com
- WEC Q3 Earnings Beat Estimates on Strong Demand, Revenues Rise Y/Y — Yahoo Finance
- WEC Energy: Q3 Earnings Snapshot – WTOP News — wtop.com
- WEC Energy Group in talks for 400-megawatt data center project — Yahoo Finance
More on WEC Energy Group
- WEC Lifts Five-Year Capital Plan $10 Billion To $47.5 Billion, Yet Sees Equity Needs Roughly Flat
- WEC Energy Lifts Capital Plan $10 Billion To $47.5 Billion — CEO Says The 'Plus' In Growth Target Is About 2028 And 2029
- WEC Energy Lifts 2026 Profit Outlook To $5.60-$5.64 A Share After Warm Summer Lifts Quarter
