Milwaukee-based
WEC Energy Group just announced its five-year capital plan in November, but the parent company of We Energies and other utilities is adding $300 million to its investment plans to keep up with economic growth in the I-94 North-South corridor.
The five-year plan now totals $23.7 billion, including $9.5 billion for electric generation in Wisconsin and Michigan and $3.8 billion for electric delivery in those markets. The generation and delivery figures are up $200 million and $100 million respectively.
Gale Klappa, executive chairman of WEC Energy Group, told analysts on the company’s earnings call Thursday that the continued economic growth in the region prompted the need for additional investment.
WEC was already forecasting 4.5% to 5% year-over-year electric sales growth for 2026 to 2028. As recently as October, the utility was projecting 0.7% to 1% year-over-year growth for 2025 to 2027.
Klappa highlighted
Microsoft’s data center project in Mount Pleasant, and
Uline’s plans for another office building,
Haribo’s expansion and
WestRock’s plans for a 570,000-square-foot packaging facility, all in Pleasant Prairie, as signs of the corridor’s continued growth.
He said it was clear that additional distribution and renewable generation investments would be needed.
“The economic growth is just amazing,” he added.
The company did not specify projects or types of projects the additional investments would go toward.
The plan announced in November included $4.5 billion for solar, $400 million for battery storage and $1.9 billion for wind generation within its regulated utilities.
In addition to the additional investments in Wisconsin, the company is also moving $800 million of planned investments in Illinois to its infrastructure segment. That decision was prompted by an Illinois Commerce Commission decision that paused ongoing natural gas projects the company had incorporated in its plans.
