MGE has undivided ownership interests in jointly owned facilities. Generation and operating expenses are primarily divided between the joint owners under the same method as ownership. MGE provides its own financing, and the respective portion of facilities and costs are included in the corresponding operating expenses (fuel for electric generation, purchased power, other operations and maintenance, etc.) in the consolidated statements of income.

The following tables shows MGE's interest in utility plant in service, operating expense (net of deferred costs), and the related accumulated depreciation reserves and other information related to MGE's jointly owned facilities:


(In thousands, except for percentages and MW)	Columbia(a)				Elm Road(b)					West Campus(c)					West Riverside(d)
Ownership interest			19	%			8.33		%			55		%			6.9		%
Fuel source		Coal				Coal					Natural gas					Natural gas
Share of generation (MW)			211	MW			106		MW			157		MW			50		MW

For the year ended December 31,
Operating expense - 2024	$		29,815		$		21,511				(e)				$		5,954
Operating expense - 2023			30,103				21,072				(e)						3,214
Operating expense - 2022			26,141				18,613				(e)					N/A

As of December 31, 2024
Utility plant	$		—		$		207,070			$		118,317			$		54,996
Accumulated depreciation			—				(47,494	)				(41,939	)				(7,421	)
Property, plant, and equipment to be retired			121,576				—					—					—
Construction work in progress			1,724				514					3,052					404

As of December 31, 2023
Utility plant	$		—		$		205,325			$		115,438					26,739
Accumulated depreciation			—				(43,115	)				(40,046	)				(2,811	)
Property, plant, and equipment to be retired			133,268				—					—					—
Construction work in progress			2,428				834					1,533					257

(a)

MGE and the other co-owners announced plans to retire Columbia, a two unit coal-fired generation facility located in Portage, Wisconsin. The co-owners intend to retire Unit 1 and Unit 2 by 2029. Final timing and retirement dates are subject to change depending on operational, regulatory, capacity needs, and other factors impacting one or more of the Columbia co-owners. As of December 31, 2024 and 2023, early retirement of Columbia was probable. See Footnote 4 for further information.

(b)

Two coal-fired generating units in Oak Creek, Wisconsin. In 2021, MGE announced plans to end the use of coal as a primary fuel at the Elm Road Units and transition the plant to natural gas. By the end of 2030, MGE expects coal to be used only as a backup fuel at the Elm Road Units. This transition will help MGE meet its 2030 carbon reduction goals. By the end of 2032, MGE expects that the Elm Road Units will be fully transitioned away from coal, which will eliminate coal as an internal generation source for MGE.

(c)

MGE Power West Campus and the UW jointly own the West Campus Cogeneration Facility (WCCF) located on the UW campus in Madison, Wisconsin. The UW owns a controlling interest in the chilled-water and steam plants, which are used to meet the needs for air-conditioning and steam-heat capacity for the UW campus. MGE Power West Campus owns a controlling interest in the electric generation plant, which is leased and operated by MGE.

(d)

In March 2023, MGE purchased an ownership interest in West Riverside, a natural gas-fired facility located in Beloit, WI, from WPL, operator and co-owner of the plant. West Riverside was placed in-service in 2020. In June 2024, MGE purchased an additional ownership interest in West Riverside, increasing its interest to 6.9%.

(e)

Operating charges are allocated to the UW based on formulas contained in the operating agreement. Under the provisions of this arrangement, the UW is required to reimburse MGE for their allocated portion of fuel and operating expenses. For the years ended December 31, 2024, 2023, and 2022, the UW's allocated share of fuel and operating costs was $7.0 million, $6.7 million, and $8.7 million, respectively.


(In thousands, except for percentages and MW)	Forward Wind(f)					Two Creeks(g)					Badger Hollow I & II(h)					Red Barn(i)					Paris(j)
Ownership interest			12.8		%			33		%			33		%			10		%			10	%
Fuel Source		Wind					Solar					Solar					Wind					Solar
Share of generation (MW)			18		MW			50		MW			100		MW			9.16		MW			20	MW

For the year ended December 31,
Operating expense - 2024	$		755			$		961			$		1,494			$		213			$		23
Operating expense - 2023			677					1,087					751					143				N/A
Operating expense - 2022			662					1,032					787				N/A					N/A

As of December 31, 2024
Utility plant	$		34,363			$		67,999			$		160,954			$		16,484			$		40,565
Accumulated depreciation			(18,069	)				(9,951	)				(10,639	)				(872	)				—
Construction work in progress			—					—					368					—					—

As of December 31, 2023
Utility plant	$		34,127			$		67,971			$		155,696					16,657				N/A
Accumulated depreciation			(16,970	)				(7,750	)				(5,114	)				(365	)			N/A
Construction work in progress			16					30					348					—				N/A

(f)

The Forward Wind Energy Center (Forward Wind) consists of 86 wind turbines located near Brownsville, Wisconsin.

(g)

The Two Creeks solar generation array is located in the Town of Two Creeks and the City of Two Rivers in Manitowoc and Kewaunee Counties, Wisconsin. Date of commercial operation of the solar array was November 2020.

MGE currently has ongoing jointly-owned generation construction projects. MGE's share of the Paris battery generation is 11 MW. Darien Solar Energy Center is located in Walworth and Rock Counties in southern Wisconsin. MGE's ownership interest is 10% and its share of generation is 25 MW (solar) and 7.5 MW (battery). Koshkonkong Solar Energy Center is located in the Towns of Christiana and Deerfield in Dane County, Wisconsin. MGE's ownership interest is 10% and its share of generation is 30 MW (solar) and 16.5 MW (battery). As of December 31, 2024, $22.4 million, $43.0 million, and $15.4 million respectively, (excluding AFUDC) related to Paris, Darien, and Koshkonong is reflected in "Construction work in progress" on the consolidated balance sheets. Construction of these projects are expected to completed in phases. Paris battery is expected to be completed in 2025. Darien is expected to be completed in 2025 (solar) and 2026 (battery). Koshkonong is expected to be completed in 2026 (solar) and 2027 (battery).