WEC ENERGY GROUP, INC. - FORM 10-Q

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file	filename
EXCEL - IDEA: XBRL DOCUMENT - WEC ENERGY GROUP, INC.	Financial_Report.xls
EX-32 - WEC 3-31-2010 EXHIBIT 32-1 - WEC ENERGY GROUP, INC.	wecex32-1.htm
EX-32 - WEC 3-31-2010 EXHIBIT 32-2 - WEC ENERGY GROUP, INC.	wecex32-2.htm
EX-31 - WEC 3-31-2010 EXHIBIT 31-1 - WEC ENERGY GROUP, INC.	wecex31-1.htm
EX-31 - WEC 3-31-2010 EXHIBIT 31-2 - WEC ENERGY GROUP, INC.	wecex31-2.htm

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549

FORM 10-Q

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934

For the Quarterly Period Ended March 31, 2010

Commission	Registrant; State of Incorporation		IRS Employer
File Number	Address; and Telephone Number		Identification No.



001-09057	WISCONSIN ENERGY CORPORATION		39-1391525
		(A Wisconsin Corporation)
		231 West Michigan Street
		P.O. Box 1331
		Milwaukee, WI 53201
		(414) 221-2345

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes [X] No [ ]

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes[X] No[ ]

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of "large accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Exchange Act.

                                 Large accelerated filer [X]                                 Accelerated filer [  ]
                                 Non-accelerated filer [  ] (Do not                      Smaller reporting company [  ]
                                   check if a smaller reporting company)

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes [ ] No [X]

Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date (March 31, 2010):

Common Stock, $.01 Par Value,

116,900,740 shares outstanding.

		WISCONSIN ENERGY CORPORATION


		FORM 10-Q REPORT FOR THE QUARTER ENDED MARCH 31, 2010



		TABLE OF CONTENTS
Item			Page

	Introduction....................................................................................................................................		7

	Part I -- Financial Information

1.	Financial Statements

	Consolidated Condensed Income Statements.................................................................................		8

	Consolidated Condensed Balance Sheets.....................................................................................		9

	Consolidated Condensed Statements of Cash Flows....................................................................		10

	Notes to Consolidated Condensed Financial Statements...............................................................		11

2.	Management's Discussion and Analysis of
	Financial Condition and Results of Operations..............................................................................		22

3.	Quantitative and Qualitative Disclosures About Market Risk.............................................................		33

4.	Controls and Procedures ..................................................................................................................		33

	Part II -- Other Information

1.	Legal Proceedings ............................................................................................................................		34

1A.	Risk Factors ...................................................................................................................................		34

2.	Unregistered Sales of Equity Securities and Use of Proceeds ...........................................................		35

6.	Exhibits ............................................................................................................................................		36

	Signatures ..........................................................................................................................................		37

DEFINITION OF ABBREVIATIONS AND INDUSTRY TERMS

DEFINITION OF ABBREVIATIONS AND INDUSTRY TERMS


The abbreviations and terms set forth below are used throughout this report and have the meanings assigned to them below:

Wisconsin Energy Subsidiaries and Affiliates

Primary Subsidiaries
Edison Sault		Edison Sault Electric Company
We Power		W.E. Power, LLC
Wisconsin Electric		Wisconsin Electric Power Company
Wisconsin Gas		Wisconsin Gas LLC

Significant Assets
OC 1		Oak Creek expansion Unit 1
OC 2		Oak Creek expansion Unit 2
PWGS		Port Washington Generating Station
PWGS 1		Port Washington Generating Station Unit 1
PWGS 2		Port Washington Generating Station Unit 2

Other Subsidiaries and Affiliates
ATC		American Transmission Company LLC
ERGSS		Elm Road Generating Station Supercritical, LLC
ERS		Elm Road Services, LLC
Wispark		Wispark LLC

Federal and State Regulatory Agencies
DOE		United States Department of Energy
EPA		United States Environmental Protection Agency
FERC		Federal Energy Regulatory Commission
MPSC		Michigan Public Service Commission
PSCW		Public Service Commission of Wisconsin
SEC		Securities and Exchange Commission

Environmental Terms
CAA		Clean Air Act

Other Terms and Abbreviations
ALJ		Wisconsin Administrative Law Judge
ARRs		Auction Revenue Rights
Bechtel		Bechtel Power Corporation
Compensation Committee		Compensation Committee of the Board of Directors
CPCN		Certificate of Public Convenience and Necessity
Energy Policy Act		Energy Policy Act of 2005
Fitch		Fitch Ratings
FTRs		Financial Transmission Rights
Junior Notes		Wisconsin Energy's 2007 Series A Junior Subordinated Notes due 2067 issued in May 2007
MISO		Midwest Independent Transmission System Operator, Inc.
MISO Energy Markets		MISO Energy and Operating Reserves Markets
Moody's		Moody's Investor Service
OTC		Over-the-Counter
Point Beach		Point Beach Nuclear Power Plant
PSEG		Public Service Enterprise Group
PTF		Power the Future

DEFINITION OF ABBREVIATIONS AND INDUSTRY TERMS


The abbreviations and terms set forth below are used throughout this report and have the meanings assigned to them below:

Settlement Agreement		Settlement Agreement and Release between ERS and Bechtel effective as of December 16, 2009
S&P		Standard & Poor's Ratings Services
WPL		Wisconsin Power and Light Company, a subsidiary of Alliant Energy Corp.

Measurements
Btu		British Thermal Unit(s)
Dth		Dekatherm(s) (One Dth equals one million Btu)
MW		Megawatt(s) (One MW equals one million Watts)
MWh		Megawatt-hour(s)
Watt		A measure of power production or usage

Accounting Terms
AFUDC		Allowance for Funds Used During Construction
CWIP		Construction Work in Progress
FASB		Financial Accounting Standards Board
GAAP		Generally Accepted Accounting Principles
OPEB		Other Post-Retirement Employee Benefits

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