MGE Energy, Inc. (Nasdaq: MGEE), reported financial results for the third quarter of 2024.
MGE Energy's GAAP (Generally Accepted Accounting Principles) earnings for the third quarter of 2024 were $40.9 million, or $1.13 per share, compared to $37.9 million, or $1.05 per share, for the same period in the prior year.
In the third quarter of 2024, electric net income increased $3.9 million compared to the third quarter of 2023. An increase in electric investments included in rate base and lower fuel costs contributed to increased electric earnings for the third quarter of 2024. Fuel costs during the third quarter of 2024 were lower than the 2024 fuel cost plan approved by the PSCW.
Gas net income in the third quarter of 2024 remained relatively flat compared to the third quarter of 2023.
