Madison Gas & Electric saw increased earnings in the fourth quarter of 2012 compared to the same period in 2011. The three months ending Dec. 31 showed earnings of $10.5 million (46 cents/share) compared to $9.4 million (41 cents/share) a year earlier. The increase was primarily due to a 10.8% increase in natural gas sales resulting from a colder winter.
For all of 2012, MGE saw a decrease in natural gas sales overall, but also registered an increase in sales of electricity because of higher air conditioning usage. MGE reported earnings of $64.4 million ($2.79/share) in 2012 on revenues of $541.3 million, compared to earnings of $60.9 million ($2.64/share) on revenues of $546.4 million for all of 2011.
