Regulatory Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2023

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)	Recovery/Refund Period	2023		2022
Regulatory Assets
Asset retirement obligation	ARO Asset lives	$	17,003	$	14,721
Bad debt expense	One to two years		9,150		7,650
Debt related costs	Term of related debt		7,014		7,580
Derivatives	One to four years		5,226		5,094
Fuel costs	One year		6,713		12,067
Leases	Lease term		4,130		3,656
Pension and other postretirement costs	One to four years		4,948		—
Tax recovery related to AFUDC equity	Plant lives		12,140		10,851
Transmission	One to two years		1,998		—
Unfunded pension and other postretirement liability	Various		31,374		50,072
Other	Various		2,872		1,750
Total Regulatory Assets		$	102,568	$	113,441

(In thousands)	Recovery/Refund Period	2023		2022
Regulatory Liabilities
Cost of removal	Various	$	42,031	$	31,664
Elm Road	One to two years		1,666		1,092
Fuel savings	One year		7,219		—
Income taxes	Various		107,048		109,112
Pension and other postretirement costs	One to four years		—		5,454
Pension and other postretirement non-service costs	Plant lives		17,977		16,160
Purchased gas adjustment	Less than one year		1,340		4,857
Other	Various		331		574
Total Regulatory Liabilities		$	177,612	$	168,913