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Fair Value of Financial Instruments (Details-4) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]    
Beginning balance, $ (447) $ (2,604)
Realized and unrealized gains (losses):    
Included in regulatory assets 0 878
Included in regulatory liability 960 0
Included in earnings [1] (553) (2,204)
Settlements 555 2,204
Ending balance, $ 515 $ (1,726)
[1] MGE's exchange-traded derivative contracts, over-the-counter party transactions, purchased power agreement, and FTRs are subject to regulatory deferral. These derivatives are therefore marked to fair value and are offset in the financial statements with a corresponding regulatory asset or liability.