Summary of Significant Accounting Principles (Tables)

6 Months Ended

Jun. 30, 2026

Cash, Cash Equivalents, And Restricted Cash [Abstract]


	MGE Energy				MGE(b)
	June 30,		June 30,		June 30,		June 30,
(In Thousands)	2026		2025		2026		2025
Income tax paid (receipts), net(a):
US Federal	$	(7,232)	$	3,681	$	(7,872)	$	3,351
US State and Local:
Wisconsin		3,800		5,000		3,620		4,980
Other		91		66		—		—
Significant noncash investing activities:
Accrued capital expenditures		26,099		9,120		26,099		9,120

(a)

For the six months ended June 30, 2026, federal tax receipts include $9.5 million of proceeds from the transfer of federal tax credits under Internal Revenue Code Section 6418.

(b)

MGE Energy files a consolidated federal income tax return with its subsidiaries. While taxes are filed on a consolidated basis, MGE calculates its respective share of tax liability and makes intercompany tax payments to or from its parent company.

Cash, Cash Equivalents, and Restricted Cash

The following table presents the components of total cash, cash equivalents, and restricted cash on the consolidated balance sheets.


	MGE Energy				MGE
	June 30,		December 31,		June 30,		December 31,
(In thousands)	2026		2025		2026		2025
Cash and cash equivalents	$	16,621	$	5,666	$	10,737	$	2,248
Restricted cash		1,014		952		1,014		952
Receivable - margin account		2,048		2,118		2,048		2,118
Cash, cash equivalents, and restricted cash	$	19,683	$	8,736	$	13,799	$	5,318