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Asset Retirement Obligations (Tables)
 12 Months Ended
Dec. 31, 2024
Asset Retirement Obligation Disclosure [Abstract]  
Change in Asset Retirement Obligations

The following table summarizes the change in AROs. Amounts include conditional AROs.

 

(In thousands)

 

2024

 

 

2023

 

Balance as of January 1,

 

$

54,430

 

 

$

50,260

 

Liabilities incurred(a)

 

 

25,756

 

 

 

2,402

 

Accretion expense

 

 

2,671

 

 

 

2,035

 

Liabilities settled(b)

 

 

(7,548

)

 

 

(107

)

Revisions in estimated cash flows(c)

 

 

(6,177

)

 

 

(160

)

Balance as of December 31,

 

$

69,132

 

 

$

54,430

 

 

 

(a)
In June 2024, MGE recorded an asset retirement obligation for its estimated share of the legal liability associated with the effect of the CCR Legacy Rule for remediation and groundwater compliance monitoring at Columbia. See Footnote 16 for further information on the CCR Legacy Rule.
(b)
In 2024, MGE settled $6.8 million of liabilities related to the Columbia Ash Pond.
(c)
In December 2024, revisions were made related to the Columbia CCR asset retirement obligation estimates based on additional analysis completed on the impacted areas.