Summary of Significant Accounting Principles (Tables)

9 Months Ended

Sep. 30, 2025

Cash, Cash Equivalents, And Restricted Cash [Abstract]

Supplemental Cash Flow Information

	MGE Energy				MGE(b)
	September 30,		September 30,		September 30,		September 30,
(In Thousands)	2025		2024		2025		2024
Income taxes paid (receipts), net(a)	$	12,516	$	(4,911)	$	10,770	$	(7,266)
Significant noncash investing activities:
Accrued capital expenditures(c)		14,785		9,194		14,785		9,194

(a)Cash received for income taxes in September 2024 includes $7.1 million related to PTCs generated in 2023 and 2024 that were sold to a third party.

(b)MGE Energy files a consolidated federal income tax return with its subsidiaries. While taxes are filed on a consolidated basis, MGE calculates its respective share of tax liability and makes intercompany tax payments to or from its parent company.

(c)Includes a $2.0 million unsecured promissory note, for an acquisition of land, issued to the seller, with all principal and interest due January 2026.

Cash, Cash Equivalents, and Restricted Cash

The following table presents the components of total cash, cash equivalents, and restricted cash on the consolidated balance sheets.

	MGE Energy				MGE
	September 30,		December 31,		September 30,		December 31,
(In thousands)	2025		2024		2025		2024
Cash and cash equivalents	$	10,141	$	21,302	$	3,249	$	16,865
Restricted cash		665		1,113		665		1,113
Receivable - margin account		3,214		2,081		3,214		2,081
Cash, cash equivalents, and restricted cash	$	14,020	$	24,496	$	7,128	$	20,059