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Pay vs Performance Disclosure - USD ($)

12 Months Ended

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020


Pay Versus Performance
					Value of Initial Fixed $100 Investment Based on:			Company Selected Measure
Year (a)	Summary Compensation Table Total for PEO ($)(1) (b)	Compensation Actually Paid to PEO ($)(2)(3) (c)	Average Summary Compensation Table Total for Non-PEO NEOs ($)(4) (d)	Average Compensation Actually Paid to Non-PEO NEOs ($)(2)(4)(5) (e)	Total Shareholder Return ($) (f)	Peer Group Total Shareholder Return ($)(6) (g)	Net Income ($) (h)	Earnings Per Share - Basic and Diluted ($) (i)
2023	2,566,797	2,206,732	895,191	838,196	100	107	117,699,000	3.25
2022	1,678,867	1,590,003	797,155	731,318	95	117	110,952,000	3.07
2021	2,628,028	2,189,827	863,501	766,775	109	116	105,761,000	2.92
2020	2,711,113	1,522,389	1,589,557	709,072	91	99	92,418,000	2.60

(1)

Reflects amounts reported in the "Summary Compensation Table" for J. Keebler (PEO).

(2)

Compensation Actually Paid (CAP) includes adjustments in accordance with the SEC methodology to the total executive compensation reported from the summary compensation table. The adjustments include a deduction for actuarial present value of accumulated benefit of all defined benefit and actuarial pension plans reported in the summary compensation table; addition of actuarially determined service costs for services rendered by the executive during the covered fiscal period, deduction of grant date fair value of equity award amounts reported in the summary compensation table; and addition or subtraction of the change in fair value of the equity awards unvested and vested during the fiscal period. Compensation "actually paid" is prescribed by the rules of the disclosure and does not represent the compensation actually received by the table participants on a cash basis for any time period shown above.

(3)

To calculate CAP for the PEO, the following adjustments were made to Summary Compensation Table total compensation, calculated in accordance with the SEC methodology for determining CAP for 2023:


Year	Deduction for Actuarial Pension Present Value	Addition for Service Cost for Pension	Deduction of Grant Date Fair Value of Awards Granted in FY	Addition of Fair Value of Equity Awards Granted in FY	Change in Fair Value of Prior Years’ Unvested Equity Awards	Change in Fair Value of Prior Years’ Awards Vested in FY	Total Adjustment to CAP
2023	(724,090)	130,777	(546,536)	600,699	30,992	148,093	(360,065)

(4)

For fiscal years 2020 through 2023, J. Bushek, L. Hobbie, C.A. Renlund and T. Johnson are included as other named executive officers. For fiscal year 2021, D. Peterson; and for fiscal year 2020, J. Newman were also included as other named executive officers.

(5)

To calculate CAP for the average named executive officers, the following average adjustments were made to Summary Compensation Table total compensation, calculated in accordance with the SEC methodology for determining CAP for 2023:


Year	Deduction for Actuarial Pension Present Value	Addition for Service Cost for Pension	Deduction of Grant Date Fair Value of Awards Granted in FY	Addition of Fair Value of Equity Awards Granted in FY	Change in Fair Value of Prior Years’ Unvested Equity Awards	Change in Fair Value of Prior Years’ Awards Vested in FY	Total Adjustment to CAP
2023	(143,064)	13,751	(176,564)	194,062	9,604	45,216	(56,995)

(6)

Peer Group Total Shareholder Return of the Edison Electric Institute (EEI) Index companies.

Named Executive Officers, Footnote

Peer Group Issuers, Footnote

Peer Group Total Shareholder Return of the Edison Electric Institute (EEI) Index companies

PEO Total Compensation Amount

^[1]

$ 2,566,797

$ 1,678,867

$ 2,628,028

$ 2,711,113

PEO Actually Paid Compensation Amount

^[2],[3]

$ 2,206,732

1,590,003

2,189,827

1,522,389

Adjustment To PEO Compensation, Footnote

(3)

To calculate CAP for the PEO, the following adjustments were made to Summary Compensation Table total compensation, calculated in accordance with the SEC methodology for determining CAP for 2023:


Year	Deduction for Actuarial Pension Present Value	Addition for Service Cost for Pension	Deduction of Grant Date Fair Value of Awards Granted in FY	Addition of Fair Value of Equity Awards Granted in FY	Change in Fair Value of Prior Years’ Unvested Equity Awards	Change in Fair Value of Prior Years’ Awards Vested in FY	Total Adjustment to CAP
2023	(724,090)	130,777	(546,536)	600,699	30,992	148,093	(360,065)

Non-PEO NEO Average Total Compensation Amount

^[4]

$ 895,191

797,155

863,501

1,589,557

Non-PEO NEO Average Compensation Actually Paid Amount

^[2],[4],[5]

$ 838,196

731,318

766,775

709,072

Adjustment to Non-PEO NEO Compensation Footnote

(5)


Year	Deduction for Actuarial Pension Present Value	Addition for Service Cost for Pension	Deduction of Grant Date Fair Value of Awards Granted in FY	Addition of Fair Value of Equity Awards Granted in FY	Change in Fair Value of Prior Years’ Unvested Equity Awards	Change in Fair Value of Prior Years’ Awards Vested in FY	Total Adjustment to CAP
2023	(143,064)	13,751	(176,564)	194,062	9,604	45,216	(56,995)

Compensation Actually Paid vs. Net Income

The chart below illustrates the relationship of executive compensation actually paid and Net Income.

Compensation Actually Paid vs. Company Selected Measure

The chart below illustrates the relationship of executive compensation actually paid and Earnings Per Share (EPS).

Total Shareholder Return Vs Peer Group

The chart below illustrates the relationship of executive compensation actually paid and MGE Energy total shareholder return (TSR). Also included is the relationship of MGE Energy TSR and peer group TSR.

Tabular List, Table

The following table identifies the financial and non-financial most important performance measures used by our Human Resources and Compensation Committee to link compensation actually paid to our named executive officers to Company performance. See further discussion in the Compensation Discussion and Analysis for description of metrics and impact to executive compensation

      Performance Measures

     

      Earnings Per Share

     

      Return on Equity

     

      Relative Total Shareholder Return

     

      Customer Satisfaction Rating

     

      Service Reliability

     

Total Shareholder Return Amount

$ 100

109

Peer Group Total Shareholder Return Amount

^[6]

107

117

116

Net Income (Loss)

$ 117,699,000

$ 110,952,000

$ 105,761,000

$ 92,418,000

Company Selected Measure Amount

3.25

3.07

2.92

2.6

PEO Name

J. Keebler (PEO)