Investment in ATC and ATC Holdco (Tables)

6 Months Ended

Jun. 30, 2025

Equity Method Investments and Joint Ventures [Abstract]

Equity Method Investments Financial Data

MGE Transco recorded the following amounts related to its investment in ATC:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(In thousands)	2025		2024		2025		2024
Equity earnings from investment in ATC	$	3,066	$	2,748	$	6,056	$	5,470
Dividends received from ATC		2,345		2,132		5,632		4,238
Capital contributions to ATC		2,679		1,070		5,171		1,785

ATC's summarized financial data is as follows:

	Three Months Ended						Six Months Ended
	June 30,						June 30,
(In thousands)	2025			2024			2025			2024
Operating revenues	$	241,227		$	218,222		$	476,156		$	430,150
Operating expenses		(117,564	)		(109,197	)		(234,309	)		(214,039	)
Other income, net		550			356			633			543
Interest expense, net		(43,254	)		(36,040	)		(82,447	)		(71,458	)
Earnings before members' income taxes	$	80,959		$	73,341		$	160,033		$	145,196