MADISON – MGE Energy Inc. on
Thursday reported a 3 percent rise in its net income for the
The parent company of Madison Gas and Electric Co. said earnings
rose to $24.4 million, or $1.05 a share, from $23.6 million, or
$1.02 per share, last year.
The Madison-based company said its gas sales volumes rose 4.3
percent in the third quarter. However, according to a company
statement, the cooler summer temperatures led to a 2.7 percent
drop in electricity use.
Total sales rose 1 percent to $140.1 million. Higher net income
was partially linked to increased customer rates to pay for
higher construction costs for the new We Energies Oak Creek
MG&E owns an approximate 8 percent share of the plant.