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MGE Energy earnings tick downward

MGE Energy earnings tick downward

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MGE SKYLINE.jpg (copy)

Water vapor billows from the Madison Gas & Electric smokestacks over downtown Madison. 

Earnings inched down for MGE Energy in the third quarter as operating and maintenance costs rose, the Madison utility company said.

Net income for MGE Energy, parent company of Madison Gas & Electric, was $27.9 million, or 80 cents a share, on revenue of $136.7 million for the three months that ended Sept. 30 compared with net income of $28.4 million, or 82 cents a share, on revenue of $140.8 million for the same period last year.

For the first nine months, though, earnings are slightly ahead of last year's at $61.1 million, or $1.76 a share, on revenue of $405.8 million compared with net income of $60.1 million, or 1.73 a share, on revenue of $433.1 million for the previous year.

MGE provides electricity to 146,000 customers in Dane County and natural gas to 152,000 customers in south-central and western Wisconsin.

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