MGE Energy Inc. on Wednesday reported financial results for the second quarter of 2025, including higher overall earnings and higher earnings for electric service.
The company’s earnings for the second quarter of 2025 were $26.5 million, or $0.73 per share, compared to $23.8 million, or $0.66 per share, for the same period in the prior year. Rate base investment growth and weather impacts drove the company’s second-quarter results.
In the second quarter of 2025, electric net income increased $3.9 million compared to the second quarter of 2024. MGE continues to invest in new, cost-effective renewable generation, supporting the company’s ongoing asset growth.
An increase in electric investments included in the rate base contributed to higher electric earnings for 2025. In March 2025, the Darien Solar Project in Rock and Walworth counties became operational, followed by the Paris Battery Energy Storage System, which went into service in June 2025.
These additions further enhanced electric system reliability and contributed to the increase in electric earnings. MGE owns 25 MW of solar capacity from the Darien Solar Project and 11 MW of battery capacity associated with the Paris BESS project.
For the second quarter of 2025, electric residential sales increased approximately 5% — largely driven by warmer-than-normal weather.
Gas net income exhibited steady performance, with minimal variation compared to the second quarter of 2024.
