MGE Energy, Inc.

MGE Energy operates primarily through its utility operations, which represent a majority of its assets, liabilities, revenues, expenses, and overall operations. The company has five business segments. Its Regulated electric utility operations involve generating, purchasing, and distributing electricity through MGE. The Regulated gas utility operations segment focuses on purchasing and distributing natural gas, also through MGE. Nonregulated energy operations include owning and leasing electric generating capacity that supports MGE through wholly owned subsidiaries MGE Power Elm Road and MGE Power West Campus. This segment currently includes an undivided interest in two coal-fired generating units in Oak Creek, Wisconsin, known as the Elm Road Units, and an undivided interest in the West Campus Cogeneration Facility (WCCF) on the Madison campus of the University of Wisconsin. The Transmission investments segment represents MGE Energy's investment in American Transmission Company LLC, which provides electric transmission services primarily in Wisconsin, and its investment in ATC Holdco LLC, which facilitates out-of-state electric transmission development and investments. The All other segment involves investing in companies and property related to regulated operations and financing these operations through wholly owned subsidiaries CWDC, MAGAEL, and North Mendota, as well as Corporate functions. MGE, as a public utility, is regulated by the PSCW and the FERC, which oversee aspects such as rates, accounts, securities issuance, plant siting, and certain accounting practices. MGE Energy's subsidiaries also comply with local, state, and federal environmental regulations.