MGE’s Annual Company Accountability and Sustainability Report highlights MGE’s ongoing clear vitality transition and progress towards its industry-leading carbon discount targets.
MADISON, Wis.–(BUSINESS WIRE)–Madison Gasoline and Electrical (MGE) has printed its annual Company Accountability and Sustainability Report, detailing its environmental, social and governance (ESG) commitments and progress towards the corporate’s sustainability targets, together with its objective of net-zero carbon electrical energy by 2050.
MGE is working to attain deep decarbonization, in step with international local weather science, as rapidly, responsibly and cost-effectively as we are able to. With a couple of billion {dollars} in funding in clear vitality and battery storage anticipated from 2015 by means of 2028, renewable vitality will proceed to play a big function in serving to to attain our targets of not less than an 80% discount in carbon by 2030 from 2005 ranges and net-zero carbon electrical energy by 2050.
As of year-end 2023, MGE has lowered carbon emissions by about 40% since 2005, our baseline. With accomplished tasks, tasks at present beneath building and proposed tasks awaiting regulatory approval, MGE can have added greater than 500 megawatts (MW) of renewable capability and greater than 95 MW of battery storage from 2015 by means of 2028.
MGE continues to transition away from coal-fired technology and has no sole possession of coal-fired property. By the tip of 2032, MGE expects to have eradicated coal from its possession portfolio.
“Carbon is our target. On behalf of all MGE customers, by 2030, we expect to deliver electricity with 80% fewer carbon emissions, and by 2050, we expect to deliver net-zero carbon electricity,” stated Chairman, President and CEO Jeff Keebler. “We are transitioning our energy supply cost-effectively, engaging customers in decarbonization strategies and working with residential and business customers toward the electrification of transportation and other end uses. We are working with our customers to create a more sustainable future while ensuring continued top-ranked electric reliability and affordability for our communities.”
MGE stays a nationwide chief in electrical reliability. MGE positioned second for the fewest variety of electrical outages per buyer in 2023, in response to an annual {industry} survey together with greater than 75 electrical utilities nationwide. MGE additionally continues to earn excessive marks when notified of a possible emergency, with our complete response time in 2023 rating within the prime 10% of a nationwide {industry} survey of greater than 75 pure gasoline utilities.
Focusing on net-zero methane emissions
Greater than half of our greenhouse gasoline (GHG) emissions come from sources already included in our net-zero carbon electrical energy objective. That features emissions from our fossil-fueled electrical technology services and bought energy agreements.
Constructing on our sustainability and clear vitality targets, MGE has a objective to attain net-zero methane emissions from our pure gasoline distribution system by 2035. Along with proactive steps MGE already has taken, methods for attaining net-zero methane emissions embrace enhanced leak detection and restore, the implementation of cost-effective applied sciences and processes, and exploring using renewable pure gasoline (RNG). In 2024, MGE launched a brand new RNG possibility for purchasers to offset their GHG emissions from their pure gasoline use. MGE is the primary utility in Wisconsin to supply this sort of RNG choice to prospects.
Different report highlights
The report and our ESG Information Heart characteristic details about MGE’s company technique and climate-related issues, security and operations, buyer and worker engagement, danger administration, and governance and oversight. Different highlights embrace:
- Increasing our use of agrivoltaics past pollinator habitats to incorporate using sheep for photo voltaic grazing at our Tyto Photo voltaic facility. The sheep are capable of handle the bottom cowl beneath and across the photo voltaic panels in a sustainable manner.
- Creating new choices for purchasers concerned with renewable vitality for his or her house or enterprise.
- Partnering to suggest a first-of-its-kind in the USA long-duration vitality storage system that will be able to offering not less than 10 hours of vitality storage. The 18-MW challenge acquired an award for a cooperative settlement with the U.S. Division of Power in July 2024 to assist its building.
- Working with prospects to develop and to handle electrical automobile (EV) charging.
- Partnering with a whole bunch of native organizations and neighborhood stakeholders to achieve prospects with vitality effectivity and conservation, security and different data.
- Supporting our communities by means of charitable giving by the corporate’s philanthropic arm, which has given greater than $8.7 million to greater than 400 nonprofit organizations.
- Partnering to conduct ongoing coaching of our All Hazards Response Plan. In 2024, MGE informally activated the plan for a significant coaching train with native, state and federal companions.
- Welcoming three new administrators in 2024 as a part of ongoing board refreshment.
Dedication to transparency and disclosure
MGE is dedicated to serving to prospects, traders and different stakeholders higher perceive the corporate’s targets, long-term methods and progress towards attaining its targets.
Edison Electrical Institute (EEI) and American Gasoline Affiliation (AGA) ESG Reporting
MGE continues to take part in EEI’s and AGA’s ESG sustainability reporting templates. The voluntary, industry-specific templates embrace each qualitative and quantitative data. The quantitative template contains knowledge associated to MGE’s vitality portfolio (technology and capability), emissions, capital expenditures, and human and pure assets. The qualitative template contains data associated to the corporate’s methods for transitioning towards deep decarbonization and higher sustainability.
MGE’s EEI-AGA templates can be found in our ESG Information Heart, which incorporates different disclosures.
About MGE
MGE generates and distributes electrical energy to 163,000 prospects in Dane County, Wis., and purchases and distributes pure gasoline to 176,000 prospects in seven south-central and western Wisconsin counties. MGE’s guardian firm is MGE Power, Inc. The corporate’s roots within the Madison space date again greater than 150 years.
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Steve Schultz
Company Communications Supervisor
608-252-7219 | sbschultz@mge.com
Supply: Madison Gasoline and Electrical
