MGE Energy: Reports third-quarter earnings

Madison, Wis., Nov. 6, 2014—MGE Energy, Inc. (Nasdaq: MGEE) today reported
earnings for the three months ended Sept. 30, 2014, of $23.3 million, or 67
cents per share, compared to $24.4 million, or 70 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.

During the third quarter of 2014, electric retail sales decreased 4.4%,
driven by cooler-than-normal weather. Temperatures for the third quarter of
2014 averaged 67 degrees while the average temperature for the third
quarter of 2013 was 69 degrees. The decrease in electric retail sales was
partially offset by 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