MGE Energy: Reports third-quarter earnings

Steven Schultz
Corporate Communications Manager
608-252-7219
sbschultz@mge.com

MGE Energy, Inc. (Nasdaq: MGEE) today reported
earnings for the three months ended Sept. 30, 2016, of $27.9 million, or 80
cents per share, compared to $28.4 million, or 82 cents per share, for the
same period in the prior year.

During the third quarter of 2016, utility operations experienced an
increase in operating and maintenance costs contributing to the decrease in
net income compared to the same period in the prior year. Electric customer
usage increased due to more favorable weather conditions partially
offsetting the increase in costs.

About MGE Energy
MGE Energy is a public utility holding company. Its principal subsidiary,
Madison Gas and Electric, generates and distributes electricity to 146,000
customers in Dane County, Wis., and purchases and distributes natural gas
to 152,000 customers in seven south-central and western Wisconsin counties.
MGE’s roots in the Madison area date back more than 150 years.