MGE Energy Inc. on Wednesday reported third-quarter results that were higher than the same period a year ago.
The Madison-based utility holding company reported third-quarter profit of $40.9 million, or $1.13 per share, on revenue of $168.5 million.
Workers complete the first phase of the 300-megawatt Badger Hollow II solar farm in Iowa County.
In the same period a year ago, the company posted a profit of $37.9 million, or $1.05 per share, on revenue of $160.5 million.
In the third quarter of 2024, electric net income increased $3.9 million compared to the third quarter of 2023. An increase in electric investments included in rate base and lower fuel costs contributed to the increase. Fuel costs during the third quarter of 2024 were lower than the 2024 fuel cost plan approved by the Wisconsin Public Service Commission.
