MGE Energy outlines $2 billion capital investment plan for 2027-2031

• MGE Energy forecasts about $2 billion in capital investment from 2027 through 2031, according to its EEI Financial Conference presentation.
• A $250 million equity offering in May 2026 secured all equity funding needed through 2031 under the current capital plan.
• Remaining funding requirements will be met through operating cash flow and incremental debt.
• The planned $203 million acquisition of a 33.4% RockGen stake is expected to close in late 2027, subject to regulatory approval.
• Authorized return on equity remains 9.8% through 2027, with a regulatory equity layer of about 56%.

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