Segment Information

9 Months Ended

Sep. 30, 2024

Segment Reporting [Abstract]

Segment Information

Segment Information - MGE Energy and MGE.

MGE Energy operates in the following business segments: electric utility, gas utility, nonregulated energy, transmission investment, and all other. See the 2023 Annual Report on Form 10-K for additional discussion of each of these segments.

(In thousands) MGE Energy	Electric			Gas			Non-Regulated Energy		Transmission Investment		All Others			Consolidation/ Elimination			Consolidated Total
Three Months Ended September 30, 2024
Operating revenues	$	147,790		$	20,476		$	214	$	—	$	—		$	—		$	168,480
Interdepartmental revenues		(44	)		4,207			11,052		—		—			(15,215	)		—
Total operating revenues		147,746			24,683			11,266		—		—			(15,215	)		168,480
Equity in earnings of investments		—			—			—		2,901		—			—			2,901
Net income (loss)		35,035			(2,026	)		6,101		2,112		(283	)		—			40,939
Three Months Ended September 30, 2023
Operating revenues	$	138,891		$	21,424		$	213	$	—	$	—		$	—		$	160,528
Interdepartmental revenues		512			3,547			10,398		—		—			(14,457	)		—
Total operating revenues		139,403			24,971			10,611		—		—			(14,457	)		160,528
Equity in earnings of investments		—			—			—		2,690		—			—			2,690
Net income (loss)		31,126			(801	)		5,627		1,957		(52	)		—			37,857
Nine Months Ended September 30, 2024
Operating revenues	$	384,298		$	120,761		$	470	$	—	$	—		$	—		$	505,529
Interdepartmental revenues		(154	)		11,591			32,825		—		—			(44,262	)		—
Total operating revenues		384,144			132,352			33,295		—		—			(44,262	)		505,529
Equity in earnings of investments		—			—			—		8,427		—			—			8,427
Net income (loss)		66,458			8,638			17,968		6,130		(647	)		—			98,547
Nine Months Ended September 30, 2023
Operating revenues	$	377,627		$	147,677		$	475	$	—	$	—		$	—		$	525,779
Interdepartmental revenues		653			12,978			31,143		—		—			(44,774	)		—
Total operating revenues		378,280			160,655			31,618		—		—			(44,774	)		525,779
Equity in earnings of investments		—			—			—		7,930		—			—			7,930
Net income (loss)		65,996			10,539			16,667		5,770		(1,356	)		—			97,616

(In thousands) MGE	Electric			Gas			Non-Regulated Energy		Consolidation/ Elimination			Consolidated Total
Three Months Ended September 30, 2024
Operating revenues	$	147,790		$	20,476		$	214	$	—		$	168,480
Interdepartmental revenues		(44	)		4,207			11,052		(15,215	)		—
Total operating revenues		147,746			24,683			11,266		(15,215	)		168,480
Net income attributable to MGE		35,035			(2,026	)		6,101		(5,777	)		33,333
Three Months Ended September 30, 2023
Operating revenues	$	138,891		$	21,424		$	213	$	—		$	160,528
Interdepartmental revenues		512			3,547			10,398		(14,457	)		—
Total operating revenues		139,403			24,971			10,611		(14,457	)		160,528
Net income attributable to MGE		31,126			(801	)		5,627		(5,487	)		30,465
Nine Months Ended September 30, 2024
Operating revenues	$	384,298		$	120,761		$	470	$	—		$	505,529
Interdepartmental revenues		(154	)		11,591			32,825		(44,262	)		—
Total operating revenues		384,144			132,352			33,295		(44,262	)		505,529
Net income attributable to MGE		66,458			8,638			17,968		(17,140	)		75,924
Nine Months Ended September 30, 2023
Operating revenues	$	377,627		$	147,677		$	475	$	—		$	525,779
Interdepartmental revenues		653			12,978			31,143		(44,774	)		—
Total operating revenues		378,280			160,655			31,618		(44,774	)		525,779
Net income attributable to MGE		65,996			10,539			16,667		(16,382	)		76,820