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Property, Plant, and Equipment
 12 Months Ended
Dec. 31, 2022
Property, Plant and Equipment [Abstract]  
PROPERTY, PLANT AND EQUIPMENT PROPERTY, PLANT, AND EQUIPMENT
Property, plant, and equipment consisted of the following at December 31:
(in millions)20222021
Electric – generation$5,480.5 $6,981.4 
Electric – distribution8,233.3 7,854.7 
Natural gas – distribution, storage, and transmission14,203.3 13,526.6 
Property, plant, and equipment to be retired, net1,085.6 277.0 
Other2,302.7 2,212.6 
Less: Accumulated depreciation8,416.2 8,894.9 
Net22,889.2 21,957.4 
CWIP972.1 406.0 
Net utility and non-utility property, plant, and equipment23,861.3 22,363.4 
We Power generation3,237.1 3,240.5 
Renewable generation2,537.1 1,837.5 
Natural gas storage292.2 289.9 
Net non-utility energy infrastructure6,066.4 5,367.9 
Corporate services163.0 188.7 
Other23.8 27.0 
Less: Accumulated depreciation1,082.3 994.4 
Net5,170.9 4,589.2 
CWIP81.6 29.8 
Net other property, plant, and equipment5,252.5 4,619.0 
Total property, plant, and equipment$29,113.8 $26,982.4 

Severance Liability for Plant Retirements

We have severance liabilities related to past and future plant retirements recorded in other current liabilities on our balance sheets. Activity related to these severance liabilities for the years ended December 31 was as follows:
(in millions)202220212020
Severance liability at January 1$4.9 $0.7 $2.1 
Severance expense11.3 4.6 — 
Severance payments— (0.4)(0.1)
Other— — (1.3)
Total severance liability at December 31$16.2 $4.9 $0.7 

Wisconsin Segment Plant to be Retired

Oak Creek Power Plant Units 5 – 8

As a result of a PSCW approval for the construction of a solar and battery project received in December 2022, retirement of the OCPP generating units 5 – 8 became probable. OCPP units 5 and 6 are expected to be retired by May 2024, while units 7 and 8 are expected to be retired by late 2025. The total net book value of WE's ownership share of units 5 – 8 was $812.5 million at December 31, 2022, which does not include deferred taxes. These amounts were classified as plant to be retired within property, plant, and equipment on our balance sheet. These units are included in rate base, and WE continues to depreciate them on a straight-line basis using the composite depreciation rates approved by the PSCW.

Columbia Units 1 and 2

As a result of a MISO ruling received in June 2021, retirement of the jointly-owned Columbia generating units 1 and 2 became probable. Columbia generating units 1 and 2 are expected to be retired by June 2026. The net book value of WPS's ownership share of unit 1 and unit 2 was $84.0 million and $189.1 million, respectively, at December 31, 2022, which does not include deferred taxes.
These amounts were classified as plant to be retired within property, plant, and equipment on our balance sheet. These units are included in rate base, and WPS continues to depreciate them on a straight-line basis using the composite depreciation rates approved by the PSCW.

Public Service Building and Steam Tunnel Assets

During a significant rain event in May 2020, an underground steam tunnel in downtown Milwaukee flooded and steam vented into WE’s PSB. The damage to the building and adjacent steam tunnel assets from the flooding and steam was extensive and required significant repairs and restorations. As of December 31, 2022, WE had incurred $95.3 million of costs related to these repairs and restorations. In 2020, WE received $20.0 million of insurance proceeds to cover a portion of these costs and wrote off $12.5 million of costs that we do not intend to seek recovery for through other operation and maintenance expense. In the first quarter of 2022, WE received $41.0 million of insurance proceeds as a result of a settlement that was reached in February 2022. The remaining $21.8 million of costs is expected to be recovered through rates.

In June 2021, we received approval from the PSCW to restore the PSB and adjacent steam tunnel assets and to defer the project costs, net of insurance proceeds, as a component of rate base. As such, and in light of the agreement with insurers noted above, we do not currently expect a significant impact to our future results of operations.