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Regulatory Assets and Liabilities (Tables)
12 Months Ended
Dec. 31, 2022
Regulatory Assets and Liabilities Disclosure [Abstract]  
Regulatory Assets and Liabilities

The following regulatory assets and liabilities are reflected in MGE's consolidated balance sheets as of December 31:

 

(In thousands)

 

2022

 

 

2021

 

Regulatory Assets

 

 

 

 

 

 

Asset retirement obligation

 

$

14,721

 

 

$

13,081

 

Deferred fuel costs

 

 

12,067

 

 

 

3,292

 

Deferred bad debt expense

 

 

7,650

 

 

 

5,600

 

Debt related costs

 

 

7,580

 

 

 

8,173

 

Deferred pension and other postretirement costs

 

 

 

 

 

1,017

 

Derivatives

 

 

5,094

 

 

 

 

Leases

 

 

3,656

 

 

 

2,992

 

Tax recovery related to AFUDC equity

 

 

10,851

 

 

 

10,347

 

Unfunded pension and other postretirement liability

 

 

50,072

 

 

 

63,728

 

Other

 

 

1,750

 

 

 

782

 

Total Regulatory Assets

 

$

113,441

 

 

$

109,012

 

 

 

 

 

 

 

 

Regulatory Liabilities

 

 

 

 

 

 

Deferred pension and other postretirement costs

 

$

5,454

 

 

$

8,112

 

Elm Road

 

 

1,092

 

 

 

 

Income taxes

 

 

109,112

 

 

 

110,817

 

Non-ARO removal costs

 

 

31,664

 

 

 

29,694

 

Pension and other postretirement non-service costs

 

 

16,160

 

 

 

11,451

 

Purchased gas adjustment

 

 

4,857

 

 

 

1,448

 

Other

 

 

574

 

 

 

2,141

 

Total Regulatory Liabilities

 

$

168,913

 

 

$

163,663