Warm weather equals MGE loss

Site Staff,

MGE Energy reported lower profits for the fourth quarter of 2015 due mainly to the temperate winter of 2015 that resulted in the second warmest December on record.

For the period ending Dec. 31, MGE reported earnings of $11.2 million (32 cents/share) on revenues of $131 million. For the same period in 2014, the utility recorded earnings of $15.2 million (44 cents/share) on revenues of $145.7 million.

For all of 2015, MGE posted a net income of $71.3 million ($2.06/share) on revenues of $564 million. That compares to 2014, when net income was $80.3 million and revenues came in at $619.9 million.

Related