WEC Subsidiary Enters 20-Year Nuclear Power Purchase Agreement with NextEra Energy

WEC Energy Group's subsidiary, Wisconsin Electric Power Company (WEPCO), has entered into a new 20-year Power Purchase Agreement (PPA) with NextEra Energy Point Beach LLC. The agreement is for the output of the Point Beach Nuclear Power Plant and is expected to result in savings for customers compared to the current arrangement.

Key Details

• Agreement: WEPCO will purchase 86% of the capacity, energy, and environmental attributes from both Unit 1 and Unit 2 of the Point Beach Nuclear Power Plant.
• Term & Timeline: The PPA has a 20-year term for each unit, beginning October 6, 2030, for Unit 1 and March 9, 2033, for Unit 2.
• Contingency: The agreement is subject to approval by the Public Service Commission of Wisconsin (PSCW) and may be terminated if approval is not obtained by January 1, 2028.