v3.26.1
Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current Assets:    
Cash and cash equivalents $ 16,621 $ 5,666
Accounts receivable, less reserves 42,330 57,558
Other accounts receivables, less reserves 14,421 12,983
Unbilled revenues 29,967 42,770
Materials and supplies, at average cost 38,553 37,850
Fuel for electric generation, at average cost 12,753 11,010
Stored natural gas, at average cost 13,671 15,317
Prepaid taxes 19,123 19,314
Regulatory assets - current 8,705 8,879
Other current assets 14,751 17,201
Total Current Assets 210,895 228,548
Regulatory assets 51,244 42,758
Pension benefit asset 172,412 164,985
Other deferred assets and other 19,872 18,348
Property, Plant, and Equipment:    
Property, plant, and equipment, net 2,337,481 2,279,899
Construction work in progress 372,628 292,969
Total Property, Plant, and Equipment 2,710,109 2,572,868
Investments 135,673 127,913
Total Assets 3,300,205 3,155,420
Current Liabilities:    
Long-term debt due within one year 20,509 21,633
Short-term debt 34,750 94,527
Accounts payable 66,836 117,673
Accrued interest and taxes 12,127 10,269
Accrued payroll related items 15,742 17,244
Regulatory liabilities - current 23,801 23,490
Other current liabilities 11,799 11,873
Total Current Liabilities 185,564 296,709
Other Credits:    
Deferred income taxes 340,423 337,798
Investment tax credit - deferred 61,466 48,609
Regulatory liabilities 197,539 185,372
Accrued pension and other postretirement benefits 51,452 51,105
Asset retirement obligations 79,395 76,289
Other deferred liabilities and other 64,743 63,397
Total Other Credits 795,018 762,570
Capitalization:    
Common shareholders equity 1,440,519 1,303,936
Long-term debt 879,104 792,205
Total Capitalization 2,319,623 2,096,141
Commitments and contingencies (see Footnote 8)
Total Liabilities and Capitalization 3,300,205 3,155,420
MGE [Member]    
Current Assets:    
Cash and cash equivalents 10,737 2,248
Accounts receivable, less reserves 42,330 57,558
Other accounts receivables, less reserves 14,419 12,979
Unbilled revenues 29,967 42,770
Materials and supplies, at average cost 38,553 37,850
Fuel for electric generation, at average cost 12,753 11,010
Stored natural gas, at average cost 13,671 15,317
Prepaid taxes 19,027 18,748
Regulatory assets - current 8,705 8,879
Other current assets 15,445 17,225
Total Current Assets 205,607 224,584
Regulatory assets 51,244 42,758
Pension benefit asset 172,412 164,985
Other deferred assets and other 18,243 17,817
Property, Plant, and Equipment:    
Property, plant, and equipment, net 2,337,509 2,279,927
Construction work in progress 372,628 292,969
Total Property, Plant, and Equipment 2,710,137 2,572,896
Total Assets 3,157,643 3,023,040
Current Liabilities:    
Long-term debt due within one year 20,509 21,633
Short-term debt 34,750 94,527
Accounts payable 66,579 117,658
Accrued interest and taxes 12,192 10,234
Accrued payroll related items 15,742 17,244
Regulatory liabilities - current 23,801 23,490
Other current liabilities 11,798 8,843
Total Current Liabilities 185,371 293,629
Other Credits:    
Deferred income taxes 302,681 301,198
Investment tax credit - deferred 61,466 48,609
Regulatory liabilities 197,539 185,372
Accrued pension and other postretirement benefits 51,452 51,105
Asset retirement obligations 79,395 76,289
Other deferred liabilities and other 68,108 67,281
Total Other Credits 760,641 729,854
Capitalization:    
Common shareholders equity 1,172,654 1,050,564
Noncontrolling interest 159,873 156,788
Total Equity 1,332,527 1,207,352
Long-term debt 879,104 792,205
Total Capitalization 2,211,631 1,999,557
Commitments and contingencies (see Footnote 8)
Total Liabilities and Capitalization $ 3,157,643 $ 3,023,040