The following is a summary of the WEC Energy Group, Inc. (WEC) Q1 2024 Earnings Call Transcript:

Financial Performance:

• WEC Energy Group reported Q1 2024 earnings of $1.97 per share, an increase of $0.36 per share compared to Q1 2023, despite the challenge of the warmest winter in Wisconsin's history.

• The company predicts full-year earnings to fall within a range of $4.80 to $4.90 per share. The mild winter negatively affected earnings by $0.07, but frequency, timing of fuel expense, and rate base growth offset this.

Business Progress:

• WEC Energy Group aims to undertake its largest five-year, $23.7 billion investment plan focused on ESG progress.

• The corporation plans to acquire a 90% stake in a 300-megawatt solar park and increases its stake in the Samson Solar project, showcasing a movement toward green energies.

• WEC has filed proposals worth over $2 billion with the Wisconsin Commission to meet regional customer demand and is preparing for a 4.5% to 5% increase in annual kilowatt hour sales from 2026 onwards.

• WEC Energy has entered into a strategic partnership with Microsoft to construct a power generation campus at Oak Creek, contributing to job creation and infrastructure developments in the region.

• In line with new EPA rules, the company is phasing out older, less efficient coal generation units while focusing on new gas generation sources, confirming their move towards more sustainable energy sources.

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