Strategy and Sustainability Snapshot
MGE is targeting net-zero carbon electricity by 2050.
- Decarbonize electric generation
- Help our customers use energy efficiently
- Electrify other energy uses, including transportation
Our goals signal our direction but do not determine our pace. We are working as aggressively as we can to achieve our goals as quickly and cost-effectively as we can. We also have committed to achieving at least 30% renewable energy by 2030 and to reducing carbon at least 40% by 2030 (from 2005 levels). If we can go further faster by working together with our customers, we will.
Our transition to net-zero carbon
MGE has no controlling interest in coal-fired power plants. In 2016, MGE reduced its minority ownership in the Columbia Energy Center, a coal-fired power plant, dropping our megawatt (MW) capacity share by about 14%.
Since introducing our Energy 2030 framework in November 2015, we have moved forward nearly 250 MW in clean energy projects, resulting in renewable capacity growth of about 600%.
Our commitment to effective oversight and continuous improvement
Strong oversight by our community-focused Board of Directors, our board's engagement with management and our participation in third-party benchmarking and evaluation programs help us assess our performance and promote continuous improvement in our proactive approach to companywide sustainability, risk assessment and mitigation, and long-term strategy.
Our commitment to transparency and disclosure
We have reviewed the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD), performed an analysis of its disclosures relative to the TCFD recommendations and determined that our companywide disclosures are consistent with and responsive to the TCFD guidance and recommendations.
We are committed to helping customers, investors and other stakeholders better understand our strategies, risks, challenges and opportunities as we transition to a more sustainable, net-zero carbon future.
For our EEI ESG/sustainability reporting templates and for an online version of our Environmental and Sustainability Report, visit mgeenergy.com/environment.