secwatch.observer — SEC 8-K summary
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Issuer:     WEC ENERGY GROUP, INC. (WEC)
CIK:        0000783325
Form:       8-K
Filed at:   2024-01-08T23:59:59+00:00
Accession:  0000107815-24-000047
Event type: regulatory
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 2.06
LLM model:  deepseek-v4-flash:cloud@v2

WEC Energy to take $0.41/share charge after ICC disallows $236.2M in utility capital costs
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- ICC disallowed $236.2M capital costs for Peoples Gas and North Shore Gas, including $177.2M already incurred.
- WEC records $178.9M pre-tax ($129.8M after-tax) non-cash charge, reducing EPS by $0.41.
- GAAP 2023 EPS guidance revised to $4.17-$4.21; adjusted (ex-charge) guidance $4.58-$4.62, upper end expected.
- ICC granted limited rehearing but disallowance stands; WEC plans to appeal to Illinois circuit court.
- 2024 earnings guidance and revised capital plan scheduled for Feb 1, 2024 year-end call.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/783325/000010781524000047/0000107815-24-000047-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/783325/000010781524000047/wec-20240103.htm
  HTML page:      https://secwatch.observer/filing/0000107815-24-000047

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