REDUCES FLAT CHARGES AS PART OF SETTLEMENT
Madison Gas and Electric has agreed to reduce the flat monthly fees charged to all electricity customers. Those customers will now pay slightly more for the electricity they actually use, according to an agreement filed in early September that sets rates for the next two years.

MGE agreed to trim the monthly residential customer service fee by $2 in each of the next two years, bringing it to $15 in 2023. That’s the lowest it’s been since 2014, when regulators approved an 82% increase.

That will bring MGE’s fixed charge in line with Alliant Energy’s, currently the lowest among the state’s largest for-profit utilities. Xcel Energy has also agreed to reduce its monthly fees from $17 to $15 in 2023.

INCREASES DIVIDEND FOR 46TH CONSECUTIVE YEAR
The Board of Directors of MGE Energy has increased the regular quarterly dividend rate approximately five percent to $0.3875 per share on the outstanding shares of the company's common stock. The dividend was payable September 15, 2021, to shareholders of record September 1, 2021. This raised the annualized dividend rate by 7 cents from $1.48 per share to $1.55 per share.