Regulatory Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2024

Regulatory Assets and Liabilities Disclosure [Abstract]

Regulatory Assets and Liabilities

The following regulatory assets and liabilities are reflected in MGE's consolidated balance sheets as of December 31:

(In thousands)	Recovery/Refund Period	2024		2023
Regulatory Assets
Asset retirement obligation	ARO Asset lives	$	6,813	$	17,003
Bad debt expense	One to two years		5,200		9,150
Debt related costs	Term of related debt		6,538		7,014
Derivatives	One to four years		—		5,226
Fuel costs	One year		—		6,713
Leases	Lease term		4,598		4,130
Pension and other postretirement costs	One to four years		642		4,948
Tax recovery related to AFUDC equity	Plant lives		13,440		12,140
Transmission	One to two years		1,216		1,998
Unfunded pension and other postretirement liability	Various		—		31,374
Other	Various		6,839		2,872
Total Regulatory Assets		$	45,286	$	102,568

(In thousands)	Recovery/Refund Period	2024		2023
Regulatory Liabilities
Cost of removal	Various	$	41,714	$	42,031
Elm Road	One to two years		1,700		1,666
Fuel savings	One year		3,043		7,219
Income taxes	Various		94,110		107,048
Pension and other postretirement non-service costs	Plant lives		20,342		17,977
Purchased gas adjustment	Less than one year		1,441		1,340
Renewable project savings	One to two years		5,222		—
Unfunded/funded pension and other postretirement asset	Various		3,489		—
Other	Various		241		331
Total Regulatory Liabilities		$	171,302	$	177,612