Profile: MGE Energy Inc (MGEE.O)

MGEE.O on Nasdaq

39.30USD
22 May 2015
Change (% chg)

$-0.41 (-1.03%)
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MGE Energy, Inc. (MGE Energy), incorporated on October 31, 2001, is a holding company and conducts all of its business operations through its subsidiaries. Madison Gas and Electric Company (MGE) is a wholly owned subsidiary of MGE Energy. The Company operates in five segments such as Regulated electric utility operations, which is engaged in generating, purchasing, and distributing electricity through MGE; Regulated gas utility operations, which is engaged in purchasing and distributing natural gas through MGE; Nonregulated energy operations, which is engaged in constructing, owning, and leasing electric generating capacity that assists MGE through MGE Energy's wholly owned subsidiaries MGE Power Elm Road and MGE Power West Campus, Transmission investments, which is representing its investment in American Transmission Company LLC, and All other, which is investing in companies and property that relate to the regulated operations and financing the regulated operations, through its wholly owned subsidiaries MAGAEL and CWDC, and Corporate functions.

Electric Utility Operations

MGE distributes electricity in a service area covering a 316 square-mile area of Dane County, Wisconsin. The service area includes the city of Madison, Wisconsin. It owns or leases ownership interests in electric generation facilities located in Wisconsin and Iowa. As of December 31, 2013, MGE supplied electric service to approximately 141,000 customers, with approximately 90% located in the cities of Fitchburg, Madison, Middleton, and Monona and 10% in adjacent areas. Electric operations accounted for approximately 69.0% as of December 31, 2013.

Gas Utility Operations

MGE transports and distributes natural gas in a service area covering 1,631 square miles in seven south-central Wisconsin counties. The service area includes the city of Madison, Wisconsin and surrounding areas. As of December 31, 2013, MGE supplied natural gas service to approximately 147,000 customers in the cities of Elroy, Fitchburg, Lodi, Madison, Middleton, Monona, Prairie du Chien, Verona, and Viroqua; 24 villages, and all or parts of 45 townships.  Gas operations accounted for approximately 31.0% as of 2013.

Nonregulated Energy Operations

MGE Energy, through its subsidiaries, has developed generation sources that assist MGE in meeting the electricity needs of its customers. MGE Power Elm Road and two other owners own undivided interests in the coal-fired Elm Road Units in Oak Creek, Wisconsin. Unit I and Unit II have the capacity to produce 615 megawatts of electricity. Wisconsin Energy Corporation owns approximately 83% of the Elm Road Units and is the operator for those units. MGE Power Elm Road owns an 8.33% ownership interest in both units.  MGE Power West Campus and the University of Wisconsin at Madison (UW) jointly own undivided interests in a natural gas-fired cogeneration facility on the UW campus. The facility has the capacity to produce 20,000 tons of chilled water, 500,000 pounds per hour of steam, and approximately 150 megawatts of electricity. The UW owns 55% of the facility, which represents its interest in the chilled-water and steam assets.

Transmission investments

Transmission investments represent its investment in American Transmission Company LLC (ATC).  ATC is a company engaged in the business of providing electric transmission services primarily in Wisconsin. At December 31, 2013, MGE Transco held a 3.6% ownership interest in ATC.

MGE is registered with two Regional Entities, The Midwest Reliability Organization and Reliability First Corporation. MGE and two other utilities jointly own Columbia, a coal-fired generating facility. MGE owns gas fired combustion turbines. These turbines are primarily located in Madison and Marinette, Wisconsin, and have a total of 155 megawatts of net summer rated capacity. MGE also owns the Blount Generating Facility located in Madison, Wisconsin, which is fueled by gas and other alternative renewable sources. MGE owns 30 megawatts, consisting of 18 turbines, in a wind-powered electric generating facility in Worth County, Iowa. MGE also owns 11 megawatts, consisting of 17 turbines, in a wind-powered electric generating facility in Kewaunee County, Wisconsin.

Company Address

MGE Energy Inc

133 South Blair Street
MADISON   WI   53703
P: +1608.2527000
F: +1608.2521554

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