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):

February 1, 2011

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

The name and address of the registrant has not changed since the last report.

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 Tuesday, February 1, 2011, Wisconsin Energy Corporation issued a press release announcing its financial results for the quarter and year ended December 31, 2010. 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: February 1, 2011	Stephen P. Dickson -- Vice President and Controller

EX-99

Exhibit 99

From: Brian Manthey (news media)

414-221-4444

Brian.Manthey@we-energies.com

Colleen F. Henderson, CFA (analysts)

414-221-2592

Colleen.Henderson@wisconsinenergy.com

Feb. 1, 2011

Wisconsin Energy Corporation posts fourth quarter

and full-year results for 2010

MILWAUKEE - Wisconsin Energy (NYSE: WEC) today reported earnings from continuing operations of $126 million or $1.06 a share for the fourth quarter of 2010. This compares with earnings from continuing operations of $113 million or 96 cents a share for the final quarter of 2009.

Fourth quarter revenues were $1.09 billion in 2010, compared with $1.06 billion in the corresponding quarter a year ago. For the full year 2010, revenues were $4.20 billion, up slightly from $4.10 billion in 2009.

Wisconsin Energy's 2010 earnings from continuing operations totaled $454 million or $3.84 per share. In 2009, earnings from continuing operations were $376 million or $3.19 per share.

Total sales of electricity to retail customers across the region rose by 6 percent during 2010. Residential use of electric energy grew by 6 percent as households responded to warm, humid summer temperatures. And electricity usage by commercial and industrial customers increased by 6.1 percent - reflecting a modest recovery in the economy.

At the end of 2010, the company was serving 2,800 more electric customers and 4,300 more natural gas customers than the prior year.

Among the positive factors contributing to the company's 2010 results were effective cost controls, warm summer weather and earnings from the first expansion unit at Oak Creek, which was placed into commercial operation in February 2010. Unit 2 at Oak Creek began commercial service on Jan. 12, 2011.

"During the past year, we completed the largest construction project in Wisconsin history - adding efficient, state of the art capacity that will serve our customers well for decades to come," said Gale Klappa, chairman, president and chief executive officer. "And on virtually every meaningful operating measure, from safety to customer satisfaction to power restoration after major storms, the company made great strides during the year."

Earnings per share listed in this news release are on a fully diluted basis and do not reflect the impact of the previously announced two-for-one stock split which will be effective March 1, 2011.

Conference Call

A conference call is scheduled for 1 p.m. Central time on Wednesday, Feb. 2, 2011. The presentation will review 2010 fourth quarter and year-end earnings and will 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 866-439-9410 up to 15 minutes before the call begins. International callers may dial 706-643-5658. The confirmation code is 34794048. Access also may be gained through the company's website (www.wisconsinenergy.com). Click on the icon for the "Year-end 2010 Earnings Release & Conference Call" and select "webcast audio." In conjunction with this earnings announcement, Wisconsin Energy will post on its website a package of detailed financial information on its fourth quarter performance. The materials will be available at 3:35 p.m. Central time on Feb. 1, 2011. An archive of the presentation will be available on the website after the call. A replay of the audio portion of the presentation will be available approximately two hours following the conclusion of the presentation and accessible through Feb. 16, 2011. Domestic callers s hould dial 800-642-1687. International callers should dial 706-645-9291. The replay confirmation code is 34794048.

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 1 million natural gas customers in Wisconsin. The company's principal utility is We Energies. The company's other major subsidiary, We Power, designs, builds and owns electric generating plants.

Wisconsin Energy Corporation (www.wisconsinenergy.com), a component of the S&P 500, has more than $12 billion of assets, approximately 4,700 employees and approximately 43,600 stockholders of record.

# # #

Forward-Looking Statements

Certain statements contained in this press release are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based upon management's current expectations and are subject to risks and uncertainties that could cause our actual results to differ materially from those contemplated in the statements. Readers are cautioned not to place undue

reliance on these statements. Forward-looking statements include, among other things, statements concerning management's expectations regarding the operation of Unit 1 and Unit 2 at Oak Creek. Factors that could cause actual results to differ materially from those contemplated in any forward-looking statements include, but are not limited to: catastrophic weather-related or terrorism-related damage; unscheduled generation outages or unplanned maintenance or repairs; unanticipated events causing scheduled generation outages to last longer than expected; the impact of recent and future federal, state and local legislative and regulatory changes, including any new environmental laws; and other factors described under the heading "Factors Affecting Results, Liquidity and Capital Resources" in Management's Discussion and Analysis of Financial Condition and Results of Operations and under the headings "Cautionary Statement Regarding Forward-Looking Information" and "Risk Factors" contained in the company's Form 10-K for the year ended Dec. 31, 2009 and in subsequent reports filed with the Securities and Exchange Commission. The company expressly disclaims any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

# # #

Tables Follow

WISCONSIN ENERGY CORPORATION
CONSOLIDATED CONDENSED INCOME STATEMENTS
	Three Months Ended December 31		Year Ended December 31
	2010	2009	2010	2009
	(Millions of Dollars, Except Per Share Amounts)
Operating Revenues	$1,089.8	$1,061.3	$4,202.5	$4,100.9
Operating Expenses
Fuel and purchased power	228.5	250.2	1,099.9	1,059.7
Cost of gas sold	232.5	244.1	751.5	912.0
Other operation and maintenance	356.5	311.0	1,327.5	1,246.1
Depreciation and decommissioning	77.0	85.9	305.6	343.0
Property and revenue taxes	26.2	27.6	106.0	110.5
Total Operating Expenses	920.7	918.8	3,590.5	3,671.3
Amortization of Gain	46.6	53.5	198.4	230.7
Operating Income	215.7	196.0	810.4	660.3
Equity in Earnings of Transmission Affiliate	14.6	15.5	60.1	59.1
Other Income and Deductions, net	14.7	4.5	40.2	28.5
Interest Expense, net	51.5	37.7	206.4	156.7
Income from Continuing
Operations Before Income Taxes	193.5	178.3	704.3	591.2
Income Taxes	67.9	65.2	249.9	215.5
Income from Continuing Operations	125.6	113.1	454.4	375.7
Income from Discontinued
Operations, Net of Tax	0.3	5.6	2.1	6.7
Net Income	$125.9	$118.7	$456.5	$382.4
Earnings Per Share (Basic)
Continuing operations	$1.07	$0.97	$3.89	$3.21
Discontinued operations	0.01	0.05	0.02	0.06
Total Earnings Per Share (Basic)	$1.08	$1.02	$3.91	$3.27
Earnings Per Share (Diluted)
Continuing operations	$1.06	$0.96	$3.84	$3.19
Discontinued operations	-	0.05	0.02	0.05
Total Earnings Per Share (Diluted)	$1.06	$1.01	$3.86	$3.24
Weighted Average Common
Shares Outstanding (Millions)
Basic	116.9	116.9	116.9	116.9
Diluted	118.4	118.0	118.4	117.9
Dividends Per Share of Common Stock	$0.40	$0.3375	$1.60	$1.35

WISCONSIN ENERGY CORPORATION
CONSOLIDATED CONDENSED BALANCE SHEETS
			December 31
			2010	2009
			(Millions of Dollars)
Assets
Property, Plant and Equipment, Net			$9,601.5	$9,015.8
Investments
	Equity investment in transmission affiliate		330.5	314.6
	Other		45.8	44.1
		Total Investments	376.3	358.7
Current Assets
	Cash and cash equivalents		24.5	20.2
	Restricted cash		8.3	194.5
	Accounts receivable		344.6	298.7
	Accrued revenues		280.3	288.7
	Materials, supplies and inventories		379.1	378.1
	Regulatory assets		54.4	58.9
	Prepayments and other		239.9	290.2
		Total Current Assets	1,331.1	1,529.3
Deferred Charges and Other Assets
	Regulatory assets		1,090.1	1,180.5
	Goodwill, net		441.9	441.9
	Other		218.9	171.7
		Total Deferred Charges and Other Assets	1,750.9	1,794.1
Total Assets			$13,059.8	$12,697.9
Capitalization and Liabilities
Capitalization
	Common equity		$3,802.1	$3,566.9
	Preferred stock of subsidiary		30.4	30.4
	Long-term debt		3,932.0	3,875.8
		Total Capitalization	7,764.5	7,473.1
Current Liabilities
	Long-term debt due currently		473.4	295.7
	Short-term debt		657.9	825.1
	Accounts payable		315.4	290.6
	Regulatory liabilities		15.3	222.8
	Other		259.1	259.9
		Total Current Liabilities	1,721.1	1,894.1
Deferred Credits and Other Liabilities
	Regulatory liabilities		883.8	876.0
	Deferred income taxes - long-term		1,154.8	1,017.9
	Deferred revenue, net		805.5	739.1
	Pension and other benefit obligations		353.2	318.7
	Other		376.9	379.0
		Total Deferred Credits and Other Liabilities	3,574.2	3,330.7
Total Capitalization and Liabilities			$13,059.8	$12,697.9

WISCONSIN ENERGY CORPORATION
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS
			Year Ended December 31
			2010	2009
			(Millions of Dollars)
Operating Activities
	Net income		$456.5	$382.4
	Reconciliation to cash
		Depreciation and amortization	317.4	346.9
		Contribution to benefit plans	-	(289.3)
		Working capital and other	36.5	188.9
Cash Provided by Operating Activities			810.4	628.9
Investing Activities
	Capital expenditures		(798.2)	(814.6)
	Change in restricted cash		186.2	192.0
	Proceeds from asset sales		68.7	16.8
	Other investing activities, net		(90.2)	(130.3)
Cash Used in Investing Activities			(633.5)	(736.1)
Financing Activities
	Common stock issued (repurchased), net		(65.7)	(12.6)
	Dividends paid on common stock		(187.0)	(157.8)
	Change in debt, net		71.1	263.2
	Other financing activities, net		9.0	2.9
Cash (Used in) Provided by Financing Activities			(172.6)	95.7
Change in Cash			4.3	(11.5)
Cash at Beginning of Year			20.2	31.7
Cash at End of Year			$24.5	$20.2