8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of report (Date of earliest event reported):

May 1, 2006

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

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

WISCONSIN ENERGY CORPORATION
                                    

ITEM 2.02  RESULTS OF OPERATIONS AND FINANCIAL CONDITION.

On Monday, May 1, 2006, Wisconsin Energy Corporation issued a press release announcing its financial results for the quarter ended March 31, 2006. A copy of the press release is being furnished to the Securities and Exchange Commission as Exhibit 99 attached hereto and incorporated herein by reference.

SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
	WISCONSIN ENERGY CORPORATION
	(Registrant)
	/s/ STEPHEN P. DICKSON
Date: May 1, 2006	Stephen P. Dickson -- Vice President and Controller;
	Principal Accounting Officer

EX-99

Exhibit 99

From: Rick James (news media)
(414) 221-4444

Colleen F. Henderson, CFA (analysts)
(414) 221-2592
colleen.henderson@wisconsinenergy.com

May 1, 2006

Wisconsin Energy Corporation posts higher results from continuing operations

MILWAUKEE - Wisconsin Energy (NYSE:WEC) today reported net income from continuing operations of $105 million or 88 cents per share for the first quarter of 2006. This compares with earnings of $90 million or 76 cents per share from continuing operations in the same period last year.

Results in the first quarter of 2006 were driven by improved recovery of fuel costs as well as the earnings contribution from Wisconsin Energy's new natural gas-fired generating plant at Port Washington. These positive factors were partially offset by the effects of unusually mild winter weather.

Temperature records indicate that January 2006 was the warmest January since 1891. And this year's first quarter was the fifth warmest in the past 116 years.

Residential use of electricity was down 0.1 percent in this year's first quarter. Consumption of electricity by large commercial and industrial customers was down 0.4 percent compared to last year, while usage by small commercial and industrial customers was up 0.3 percent.

First quarter 2006 revenues were $1.25 billion compared with $1.10 billion in the first quarter last year.

At the end of March, the company was serving 11,247 more electric customers and 14,345 more gas customers than a year ago.

"Overall, we delivered strong, positive results as we continued to focus on operating efficiency, cost discipline and customer satisfaction across our core business," said Gale Klappa, Wisconsin Energy's chairman, president and chief executive officer.

Earnings per share listed in this news release are on a fully diluted basis.

Conference Call
A conference call is scheduled for 1 p.m. Central time on Monday, May 1, 2006. The presentation will review 2006 first quarter earnings and discuss the company's outlook for the future.

All interested parties, including stockholders, the news media and the general public, are invited to listen to the presentation. The conference call may be accessed by dialing (800) 289-0572up to 15 minutes before the call begins. There is no pass code required. Access also may be gained through the company's Web site (www.wisconsinenergy.com) by clicking on the icon for the "First Quarter 2006 Earnings Release & Conference Call." In conjunction with this earnings announcement, Wisconsin Energy will post on its Web site a package of detailed financial information on its first quarter performance. The materials will be available at 7:30 a.m. Central time on May 1. An archive of the presentation will be available on the Web site after the call. A replay of the audio presentation will be available for one week after the call. Dial (888) 203-1112. The replay pass code is 5637924.

Wisconsin Energy Corporation (NYSE:WEC), based in Milwaukee, is one of the nation's premier energy companies, serving more than 1.1 million electric customers in Wisconsin and Michigan's Upper Peninsula and more than one million natural gas customers in Wisconsin. The company's principal utilities are We Energies and Edison Sault Electric. The company's non-utility businesses include recycling and renewable energy and real estate development.

Wisconsin Energy Corporation (www.wisconsinenergy.com) has more than $10 billion of assets, 5,300 employees and approximately 56,000 stockholders of record.

Tables Follow

# # #

WISCONSIN ENERGY CORPORATION
CONSOLIDATED CONDENSED INCOME STATEMENTS
(Unaudited)
	Three Months Ended March 31
	2006	2005
	(Millions of Dollars, Except Per Share Amounts)
Operating Revenues	$1,247	$1,095
Operating Expenses
Fuel and purchased power	169	158
Cost of gas sold	480	411
Other operation and maintenance	298	254
Depreciation, decommissioning
and amortization	83	82
Property and revenue taxes	25	23
Total Operating Expenses	1,055	928
Operating Income	192	167
Other Income, Net	21	18
Interest Expense	45	43
Income From Continuing
Operations Before Income Taxes	168	142
Income Taxes	63	52
Income From Continuing Operations	105	90
Income From Discontinued
Operations, Net of Tax	1	-
Net Income	$106	$90
Earnings Per Share (Basic)
Continuing operations	$0.89	$0.77
Discontinued operations	0.01	-
Total Earnings Per Share (Basic)	$0.90	$0.77
Earnings Per Share (Diluted)
Continuing operations	$0.88	$0.76
Discontinued operations	0.01	-
Total Earnings Per Share (Diluted)	$0.89	$0.76
Weighted Average Common
Shares Outstanding (Millions)
Basic	117.0	117.0
Diluted	118.5	118.3
Dividends Per Share of Common Stock	$0.23	$0.22

WISCONSIN ENERGY CORPORATION
CONSOLIDATED CONDENSED BALANCE SHEETS
			(Unaudited)
			March 31, 2006	December 31, 2005
			(Millions of Dollars)
Assets
Property, Plant and Equipment
	In service		$8,899	$8,850
	Accumulated depreciation		(3,337)	(3,289)
			5,562	5,561
	Construction work in progress		740	597
	Leased facilities, net		92	93
	Nuclear fuel, net		108	112
		Net Property, Plant and Equipment	6,502	6,363
Investments			1,112	1,080
Current Assets
	Cash and cash equivalents		37	73
	Accounts receivable		506	442
	Accrued revenues		184	263
	Materials, supplies and inventories		278	452
	Assets held for sale		17	17
	Other		82	130
		Total Current Assets	1,104	1,377
Deferred Charges and Other Assets
	Regulatory assets		1,039	1,026
	Goodwill, net		442	442
	Other		176	174
		Total Deferred Charges and Other Assets	1,657	1,642
Total Assets			$10,375	$10,462
Capitalization and Liabilities
Capitalization
	Common equity		$2,759	$2,680
	Preferred stock of subsidiary		30	30
	Long-term debt		3,025	3,031
		Total Capitalization	5,814	5,741
Current Liabilities
	Long-term debt due currently		482	496
	Short-term debt		346	456
	Accounts payable		272	418
	Accrued liabilities		174	116
	Other		158	161
		Total Current Liabilities	1,432	1,647
Deferred Credits and Other Liabilities
	Regulatory liabilities		1,398	1,373
	Asset retirement obligations		360	356
	Deferred income taxes - long-term		592	594
	Other		779	751
		Total Deferred Credits and Other Liabilities	3,129	3,074
Total Capitalization and Liabilities			$10,375	$10,462

WISCONSIN ENERGY CORPORATION
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS
(Unaudited)
			Three Months Ended March 31
			2006	2005
			(Millions of Dollars)
Operating Activities
	Net income from continuing operations		$105	$90
	Reconciliation to cash
		Depreciation, decommissioning and amortization	85	88
		Deferred income taxes and investment tax credits, net	(11)	(15)
		Working capital and other	161	214
Cash Provided by Operating Activities			340	377
Investing Activities
	Capital expenditures		(215)	(169)
	Other investing activities		1	6
Cash Used in Investing Activities			(214)	(163)
Financing Activities
	Common stock issued (purchased), net		(5)	(11)
	Dividends paid on common stock		(27)	(26)
	Change in debt, net		(130)	(194)
Cash Used in Financing Activities			(162)	(231)
Change in Cash From Continuing Operations			(36)	(17)
Cash at Beginning of Period			73	36
Cash at End of Period			$37	$19
Supplemental Information - Cash Paid For
	Interest (net of amount capitalized)		$15	$12
	Income taxes (net of refunds)		$8	$15