Equity and Financing Arrangements	9 Months Ended
Sep. 30, 2022
Equity and Financing Arrangements Disclosure [Abstract]
Equity and Financing Arrangements	6. Equity and Financing Arrangements. a. Common Stock - MGE Energy. MGE Energy sells shares of its common stock through its Direct Stock Purchase and Dividend Reinvestment Plan (the Stock Plan). Those shares may be newly issued shares or shares that are purchased in the open market by an independent agent for participants in the Stock Plan. Sales of newly issued shares under the Stock Plan are covered by a shelf registration statement that MGE Energy filed with the SEC. During the three and nine months ended September 30, 2022 and 2021, MGE Energy issued no new shares of common stock under the Stock Plan. b. Dilutive Shares Calculation - MGE Energy. As of September 30, 2022, 10,331 shares were included in the calculation of diluted earnings per share related to nonvested equity awards. See Footnote 7 for additional information on share-based compensation awards. c. Long-Term Debt Issuance - MGE Energy and MGE. On November 1, 2022, MGE entered into a private placement Note Purchase Agreement in which it committed to issue $25 million of new long-term debt (Series A), carrying an interest rate of 5.43% per annum over its 10-year life, $15 million of new long-term debt (Series B), carrying an interest rate of 5.43% per annum over its 10-year life, and $35 million of new long-term debt (Series C), carrying an interest rate of 5.53% per annum over its 12-year life. Funding will occur on December 1, 2022 for Series A and on February 28, 2023 for Series B and Series C. The proceeds of the debt financing will be used to assist with capital expenditures and other corporate obligations. The covenants of this debt are substantially consistent with MGE's existing unsecured long-term debt.

Equity and Financing Arrangements

9 Months Ended

Sep. 30, 2022

Equity and Financing Arrangements Disclosure [Abstract]

Equity and Financing Arrangements.

Common Stock - MGE Energy.

MGE Energy sells shares of its common stock through its Direct Stock Purchase and Dividend Reinvestment Plan (the Stock Plan). Those shares may be newly issued shares or shares that are purchased in the open market by an independent agent for participants in the Stock Plan. Sales of newly issued shares under the Stock Plan are covered by a shelf registration statement that MGE Energy filed with the SEC.

During the three and nine months ended September 30, 2022 and 2021, MGE Energy issued no new shares of common stock under the Stock Plan.

Dilutive Shares Calculation - MGE Energy.

As of September 30, 2022, 10,331 shares were included in the calculation of diluted earnings per share related to nonvested equity awards. See Footnote 7 for additional information on share-based compensation awards.

Long-Term Debt Issuance - MGE Energy and MGE.

On November 1, 2022, MGE entered into a private placement Note Purchase Agreement in which it committed to issue $25 million of new long-term debt (Series A), carrying an interest rate of 5.43% per annum over its 10-year life, $15 million of new long-term debt (Series B), carrying an interest rate of 5.43% per annum over its 10-year life, and $35 million of new long-term debt (Series C), carrying an interest rate of 5.53% per annum over its 12-year life. Funding will occur on December 1, 2022 for Series A and on February 28, 2023 for Series B and Series C. The proceeds of the debt financing will be used to assist with capital expenditures and other corporate obligations. The covenants of this debt are substantially consistent with MGE's existing unsecured long-term debt.