MGE Energy Inc (NASDAQ: MGEE) is a regulated utility holding company whose principal subsidiary, Madison Gas and Electric Company (MGE), provides electric and natural gas service to customers in Wisconsin. Revenue is generated through regulated utility rates approved by state regulators, covering electricity generation, transmission, and distribution, as well as natural gas distribution. The operating structure consists of two co-registrants: MGE Energy, Inc. as the parent holding company, and Madison Gas and Electric Company as the operating utility. The 10-K filed February 24, 2026 covers the fiscal year ended in that reporting period. The filing does not provide sufficient excerpted detail to state segment revenue breakdowns, customer counts, founding year, current CEO, or named competitors with confidence from the provided excerpts alone.

Revenue model

Regulated utility rate revenue from electric generation, transmission, and distribution, and natural gas distribution, with rates set by Wisconsin state regulators.

Products and services

Electric utility service (generation, transmission, distribution) and natural gas distribution, delivered through Madison Gas and Electric Company.

Customers and end markets

Residential, commercial, and industrial customers in Wisconsin served by Madison Gas and Electric Company. No customer concentration data or specific customer counts are supported by the provided filing excerpts.

Value-chain role

Vertically integrated regulated utility: generation, transmission, and distribution of electricity, and distribution of natural gas, within a state-regulated service territory.

Geographic exposure

Wisconsin, United States. Specific service territory boundaries are not detailed in the provided filing excerpts.

Source: SEC 10-K, filed 2026-02-24

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