Founded: 1896 (as Milwaukee Electric Railway and Light Co.)
Headquarters: Milwaukee, Wisconsin, USA
2024 Revenue: $8.6 billion
Employees: 7,017 (as of December 2024)
Customers Served: 4.7 million across four states
WEC Energy Group, Inc. is an American energy holding company headquartered in Milwaukee, Wisconsin. The company provides electricity and natural gas services to residential, commercial, and industrial customers across Wisconsin, Illinois, Michigan, and Minnesota.
WEC Energy Group ranks among the largest electric and natural gas utilities in the United States. The company operates through subsidiary brands including We Energies, Wisconsin Public Service, Peoples Gas, North Shore Gas, Michigan Gas Utilities, and Minnesota Energy Resources.
The company trades on the New York Stock Exchange under the ticker symbol WEC and maintains a position in the S&P 500 index. WEC Energy Group has delivered 22 consecutive years of dividend increases to shareholders.
WEC Energy Group History
WEC Energy Group Founders
The Milwaukee Electric Railway and Light Company
Established in 1896 as a subsidiary of the North American Company, a major utility holding company that consolidated electric, gas, and transit operations across multiple states during the late 19th century.
Gale Klappa
Former Chairman and CEO who led the 2015 Integrys acquisition that created WEC Energy Group. Klappa guided the company through major expansion and currently serves as Executive Chairman.
WEC Energy Group Market Cap
WEC Energy Group maintains a market capitalization of approximately $34 billion as of early 2026. The company’s stock price has grown steadily over the past decade, reflecting consistent earnings growth and dividend increases.
WEC Energy Group ranks among the 25 largest utility companies in the United States by market value.
WEC Energy Group Revenue
WEC Energy Group reported consolidated revenues of $8.6 billion for fiscal year 2024. The company generates revenue primarily through regulated electric and natural gas utility operations in the Midwest.
Revenue growth accelerated following the 2015 Integrys acquisition, which nearly doubled the company’s customer base.
WEC Energy Group Acquisitions
WEC Energy Group has grown through strategic acquisitions that expanded its geographic footprint and customer base. The company focuses on acquiring regulated utilities with stable operations and strong cash flows.
The largest acquisition in company history occurred in June 2015 when Wisconsin Energy Corporation purchased Integrys Energy Group for $9.1 billion in cash, stock, and assumed debt. This transaction created WEC Energy Group and added Peoples Gas, North Shore Gas, Wisconsin Public Service, Michigan Gas Utilities, and Minnesota Energy Resources to the company’s portfolio. The deal made WEC Energy Group the eighth largest natural gas distribution company in the United States.
In 2000, Wisconsin Energy acquired WICOR, the holding company of Wisconsin Gas, for approximately $1.2 billion. This acquisition created the largest electric and natural gas provider in Wisconsin and positioned the company for future growth. Wisconsin Energy subsequently divested the non-energy assets of WICOR for $850 million in 2004.
WEC Energy Group acquired Bluewater Gas Storage in 2017 to strengthen its natural gas infrastructure. This Michigan-based company provides approximately one-third of the storage needs for WEC Energy Group’s natural gas distribution companies in Wisconsin. The acquisition supports reliable gas delivery during peak demand periods.
The company sold Point Beach Nuclear Plant to FPL Energy in 2007 for approximately $924 million. We Energies retained the rights to purchase the plant’s output for the life of the facility. WEC Energy Group also divested Edison Sault Electric Company to Cloverland Electric Cooperative in 2010 as part of its strategy to focus on core Midwest markets.
WEC Energy Group Competitors
WEC Energy Group operates in a regulated utility environment where direct competition for customers is limited within service territories. The company competes primarily for capital, regulatory approvals, and talent with other Midwest utilities. Major competitors like Xcel Energy serve overlapping states including Wisconsin and Minnesota.
| Company | Headquarters | Primary Service Area |
|---|---|---|
| Xcel Energy | Minneapolis, MN | Minnesota, Wisconsin, Colorado, Texas |
| Alliant Energy | Madison, WI | Wisconsin, Iowa |
| CMS Energy | Jackson, MI | Michigan |
| DTE Energy | Detroit, MI | Michigan |
| Ameren Corporation | St. Louis, MO | Illinois, Missouri |
| NextEra Energy | Juno Beach, FL | Florida, nationwide renewables |
| Duke Energy | Charlotte, NC | Carolinas, Florida, Midwest |
| Southern Company | Atlanta, GA | Southeast United States |
| Dominion Energy | Richmond, VA | Virginia, Carolinas, Ohio |
| FirstEnergy | Akron, OH | Ohio, Pennsylvania, Mid-Atlantic |
FAQs
When was WEC Energy Group founded?
WEC Energy Group formed in June 2015 when Wisconsin Energy Corporation acquired Integrys Energy Group for $9.1 billion. The predecessor company dates to 1896.
Where is WEC Energy Group headquartered?
WEC Energy Group is headquartered in Milwaukee, Wisconsin. The company also maintains operating headquarters in Green Bay, Wisconsin and Chicago, Illinois.
How many customers does WEC Energy Group serve?
WEC Energy Group serves approximately 4.7 million electric and natural gas customers across Wisconsin, Illinois, Michigan, and Minnesota through its utility subsidiaries.
What is WEC Energy Group’s stock ticker symbol?
WEC Energy Group trades on the New York Stock Exchange under the ticker symbol WEC. The company is a component of the S&P 500 index.
What are WEC Energy Group’s main subsidiaries?
WEC Energy Group operates through We Energies, Wisconsin Public Service, Peoples Gas, North Shore Gas, Michigan Gas Utilities, Minnesota Energy Resources, and Bluewater Gas Storage.
