•  
Siemens: RuggedCom RSG2488 New Timing CapabilitiesAdvertisement
BACK SEND PRINT

MGE Energy Reports First-Quarter Earnings



May 8, 2014

MGE Energy, Inc. (Nasdaq: MGEE) reported earnings for the three months ended March 31, 2014, of $27.7 million, or 80 cents per share, compared to $22.6 million, or 65 cents per share, for the same period in the prior year. Average shares outstanding and per share amounts for all periods presented reflect the three-for-two stock split declared on Dec. 20, 2013, effective in the form of a stock dividend distributed on Feb. 7, 2014.

The company benefited from higher gas retail sales volumes of 23% reflecting higher customer demand mostly due to colder weather during the three months ending March 31, 2014, compared to the same period in the prior year. January and February 2014 were two of the coldest months on record in the Madison area, with average temperatures of 11.5 degrees and 12.5 degrees, respectively. Normal average temperatures in January and February are 19.4 and 23.7 degrees, respectively.

Also contributing to earnings during the quarter was a 2.8% increase in electric retail sales, the benefit of allowance for funds used during construction for the environmental controls at the Columbia Energy Center, and savings from MGE's ongoing effort to manage costs.

About MGE Energy

MGE Energy is a public utility holding company. Its principal subsidiary, Madison Gas and Electric (MGE), generates and distributes electricity to 141,000 customers in Dane County, Wis., and purchases and distributes natural gas to 147,000 customers in seven south-central and western Wisconsin counties. MGE's roots in the Madison area date back more than 150 years.

Click here to read the full press release.

For more information :

Organization:
MGE Energy, Inc.
Address:
133 S Blair St
Madison, Wisconsin
United States, 53701-1231
www.mgeenergy.com


Link http://www.electricenergyonline.com/detail_news.php?ID=481273
BACK SEND PRINT
Most consulted news

Contact us

Jaguar Expo Inc
1160 rue Levis, Suite 100
Terrebonne (Quebec) J6W 5S6

Tel.: 450-471-0796
Toll free: 888-332-3749
Fax: 450-471-5443 . 888-243-4562

info@electricenergyonline.com
www.electricenergyonline.com

  Press

  Jobs

  Events

  Subscription

  News

  Magazine

  News on your smartphone

© 2014, Jaguar Media inc. All rights reserved. 1996-2014