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