MGE Energy Q1 EPS rises 16% to $1.32 on rate settlement; $203M gas plant buy announced

Filed May 5, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 7, 2025 · ~2 min read

Key Changes

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  Q1 2026 earnings per share increased 16% year-over-year to $1.32, driven by the December 2025 rate settlement that approved a 0.15% electric rate increase for 2026 (stepping to 3.63% in 2027) and maintained a 9.8% ROE on 56% equity ratio.

  MD&A: Earnings & Rate Settlement verify on EDGAR →
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  MGE signed a $203 million agreement to acquire 33.4% of the RockGen natural gas plant, expected to close late 2027 pending PSCW approval, adding dispatchable capacity as coal units transition away from coal.

  MD&A: RockGen Acquisition verify on EDGAR →
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  Federal solar tax credits (PTC/ITC) now terminate for projects placed in service after 2027 unless construction begins by July 4, 2026, creating a hard deadline for MGE's $545 million solar portfolio to preserve tax credit eligibility.

  MD&A: OBBBA Tax Changes verify on EDGAR →