Mge Energy Inc. · NASDAQ:MGEE
Mge Energy — AGA Financial Forum 2025
23 slides from Mge Energy's conference presentation, May 16, 2025
Slide 1: AGA Financial Forum May 2025
AGA Financial Forum May 2025 1
Slide 2: Cautionary Note - Forward Looking Information
Cautionary Note - Forward Looking Information Certain matters discussed in this presentation include "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements that are not statements of historical facts are, or may be deemed to be, forwar
Slide 3: Company Mission and Values
Company Mission and Values MGE Energy is an investor-owned public utility holding company headquartered in the state capital of Madison, Wis. MGE Energy is the parent company of MGE, your community energy company. With roots in the community dating back more than 150 years, the utility provides affo
Slide 4: Company Highlights
Company Highlights Diversified Customer Base and Revenue Profile Regulated, Highly Visible Growth Resilient Revenue Stream and Customer Base Historical 5-Year EPS CAGR of 5.8%, Regulated PPE(1) • Electric service to ~167,000 customers located in CAGR of 6.8% the city of Madison and adjacent areas •
Slide 5: Service Territory Highlights and Customer Count
Service Territory Highlights MGE’s service territory is a growing and diverse community of urban, suburban and rural communities. The Madison area and Dane County lead the state of Wisconsin in population growth. • Seat of State government • Home to the flagship University of Wisconsin – Madison • R
Slide 6: Earnings and Dividends Growth
Earnings and Dividends Growth Diluted Earnings Per Share Dividends Per Share $3.50 $2.00 $2.80 $1.60 $2.10 $1.20 $1.40 $0.80 $0.70 $0.40 $- $- 2020 2021 2022 2023 2024 2020 2021 2022 2023 2024 6 CAGR calculated from base year ended 12/31/2019
Slide 7: Focused on Sustainability and Reliability
Focused on Sustainability and Reliability Projected Capital Expenditures $350 $312 $296 $300 $286 $266 $250 $240 $182 $202 $ millions $200 $174 $156 $131 $150 $100 $50 $109 $110 $112 $114 $110 $0 2025 2026 2027 2028 2029 Other Capital Expenditures, including Electric and Gas Distribution Generation
Slide 8: Expanding Generation and Storage Portfolio
Expanding Generation and Storage Portfolio MGE MGE MGE Estimated Project Source Nameplate Investment Ownership In-Service Date Capacity ($M) Interest March 2025 Solar Darien(a) Solar/Battery 25 MW/7.5 MW $63 10% 2026 Battery 2026 Solar Koshkonong(a) Solar/Battery 30 MW/16.5 MW $104 10% 2027 Battery
Slide 9: Constructive Regulatory Environment
Constructive Regulatory Environment Both S&P and Moody’s view the Wisconsin regulatory environment as highly credit supportive with timely operating and capital cost recovery, and view MGE's relationship with the Public Service Commission as constructive. Supportive regulatory framework including: •
Slide 10: PSCW Regulators
PSCW Regulators WISCONSIN PARTY TERM BEGAN TERM ENDS COMMISSIONERS Summer Strand (Chair) D Mar 2023 Mar 2029 Kristy Nieto* D Feb 2024 Mar 2031 Marcus Hawkins* D Apr 2024 Mar 2027 * Pending confirmation • Recent appointments of PSCW Commissioners and confirmation of Chair • Constructive rate outcomes
Slide 11: Approved/Proposed Rate Case Parameters
Approved/Proposed Rate Case Parameters MGE filed a rate case application for test years 2026 and 2027 on April 2, 2025. PSCW decision expected by the end of 2025, with new rates effective January 1, 2026. TERMS APPROVED APPROVED PROPOSED PROPOSED ($000’s where applicable) 2024 TY 2025 TY 2026 TY 202
Slide 12: Customer Affordability
Customer Affordability Average residential electric customer bill as % of Wisconsin median household income 2.25% 2.12% 2.00% MGE works hard to keep costs at an affordable 1.75% level for all customers. An MGE residential 1.67% electric customer bill as a percentage of customer wallet at 1.51% is be
Slide 13: Strong Credit Ratings
Strong Credit Ratings S&P (UTILITY RATINGS) MOODY’S (UTILITY RATINGS) Corporate credit AA- Secured Aa2 Business risk Excellent Unsecured A1 Commercial paper A-1+ MGE works hard Commercial to keep costs an affordable paper P-1 level for all customers. An MGE residential electric customer Outlook Stab
Slide 14: Transmission Investment Outlook
Transmission Investment Outlook MGE Energy anticipates material transmission investment opportunities later this decade through ATC. ATC Projected Capital Expenditures • MGE Energy holds 3.6% equity ownership interest in ATC. $1,400 $1,250 $1,250 ATC projects an acceleration of capital expenditures
Slide 15: Transition Toward Cleaner Energy
Transition Toward Cleaner Energy MGE is on track to end the use of coal as a generation fuel source and meet its 80% carbon reduction goal. • Transition MGE to a more environmentally sustainable energy supply • Provide customers with options they want today and in the future • Help customers use ene
Slide 16: Natural Gas Distribution – Emissions Reductions Beyond Carbon
Natural Gas Distribution – Emissions Reductions Beyond Carbon Building upon our long-standing commitment to providing affordable, sustainable energy, MGE has set a goal to achieve Net-Zero Methane Emissions from its natural gas distribution system by 2035. • MGE is working to reduce overall emission
Slide 17: Appendix
APPENDIX ENERGY.
Slide 18: First Quarter EPS by Segment
First Quarter EPS by Segment Three Months Ended March 31 2025 2024 $0.06 $0.16 ($0.01 ) $0.38 $0.05 $0.16 ($0.01 ) $0.29 Diluted EPS Diluted EPS $1.14 $0.93 $0.55 $0.44 Electric Utility Gas Utility NonReg Energy Transmission Other MGE Energy Electric Utility Gas Utility NonReg Energy Transmission Ot
Slide 19: Strong Record of Regulated Asset Growth
Strong Record of Regulated Asset Growth $2,500 $2,000 Net PP&E + CWIP ($millions) $1,500 $1,000 $500 $- 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1Q'2025 19
Slide 20: Electric Utility Mix
Electric Utility Mix Twelve Months Ended December 31, 2024 Electric Retail Revenues Electric Retail Volumes Electric Customers 56% 53% 87% 13% 36% 27% 5% 8% 3% 12% Residential Commercial Industrial Other 20
Slide 21: Gas Utility Mix
Gas Utility Mix Twelve Months Ended December 31, 2024 Gas Revenues Gas Volumes Gas Customers 37% 90% 60% 36% 10% 36% 27% 4% Residential Commercial/Industrial Other 21
Slide 22: ESG - Disclosures
ESG - Disclosures Below are links to ESG information: Corporate Responsibility and Sustainability Report • CDP Climate Change Questionnaire • EEI-AGA Qualitative Template MGE works hard to keep costs an affordable level for • EEI-AGA Quantitative Template all customers. An MGE residential electric c
Slide 23: Thank you.
Thank you. Ken Frassetto Director Shareholder Services and Treasury Management kfrassetto@mge.com | 608-252-4723 P.O. Box 1231 Madison, WI 53701-1231 Learn more at mge.com.