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Fair Value of Financial Instruments (Details-4) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]        
Beginning balance, $ (3,740) $ 6,779 $ (866) $ 178
Realized and unrealized gains (losses):        
Included in regulatory assets 848 0 (2,026) 0
Included in regulatory liability 0 2,180 0 8,780
Included in other comprehensive income 0 0 0 0
Included in earnings [1] (903) 6,143 (5,574) 6,998
Included in current assets 0 45 0 118
Purchases 0 4,777 0 11,803
Sales 0 0 0 0
Issuances 0 0 0 0
Settlements 903 (10,965) 5,574 (18,918)
Ending balance, $ (2,892) $ 8,959 $ (2,892) $ 8,959
[1] MGE's exchange-traded derivative contracts, over-the-counter party transactions, purchased power agreement, and FTRs are subject to regulatory deferral. These derivatives are therefore marked to fair value and are offset in the financial statements with a corresponding regulatory asset or liability.