MGE’s annual Company Accountability and Sustainability Report highlights MGE’s continued transition to wash power and its progress towards its industry-leading carbon emissions discount objectives.
MADISON, Wis.–(BUSINESS WIRE)–Madison Fuel and Electrical (MGE) launched its annual Company Accountability and Sustainability Report, detailing its environmental, social and governance (ESG) commitments and progress towards the corporate’s sustainability objectives, together with its purpose of web zero carbon electrical energy by 2050.
MGE strives to attain deep decarbonization, in line with international local weather science, as shortly, responsibly and cost-effectively as doable. With greater than $1 billion in investments in clear power and battery storage anticipated from 2015 to 2028, renewable power will proceed to play an vital position in serving to us obtain our objectives of lowering not less than minus 80% carbon emissions by 2030 in comparison with 2005 ranges and web zero carbon electrical energy by 2050.
By the top of 2023, MGE has lowered its carbon emissions by roughly 40% since 2005, our benchmark. With accomplished initiatives, initiatives presently beneath building and proposed initiatives awaiting regulatory approval, MGE may have added greater than 500 megawatts (MW) of renewable capability and greater than 95 MW of battery storage from 2015 to 2028.
MGE continues to maneuver away from coal-fired technology and isn’t the only proprietor of coal-fired property. By the top of 2032, MGE plans to have eradicated coal from its portfolio of holdings.
“Carbon is our purpose. On behalf of all MGE prospects, by 2030 we plan to supply electrical energy with 80% fewer carbon emissions, and by 2050 we plan to supply zero-carbon electrical energy,” stated President and CEO Jeff. Keebler. “We’re transitioning our power provide cost-effectively, participating our prospects in decarbonization methods and dealing with our residential and industrial prospects towards the electrification of transportation and different finish makes use of. We work with our prospects to create a extra sustainable future whereas guaranteeing continued excessive requirements. ranked the reliability and affordability of electrical energy for our communities.
MGE stays a nationwide chief in electrical reliability. MGE ranked second for fewest energy outages per buyer in 2023, in keeping with 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 high 10% in a nationwide {industry} survey of greater than 75 gasoline utilities pure.
Goal zero web methane emissions
Greater than half of our greenhouse gasoline (GHG) emissions come from sources already included in our carbon-neutral electrical energy goal. This consists of emissions from our fossil fuel-based electrical energy technology amenities and energy buy agreements.
Constructing on our sustainability and clear power objectives, MGE goals to attain web zero methane emissions from our pure gasoline distribution system by 2035. Along with the proactive steps already taken by MGE, Methods to attain web zero methane emissions embody enhancing leakage. detection and restore, implementation of cost-effective applied sciences and processes, and exploration of the usage of renewable pure gasoline (RNG). In 2024, MGE launched a brand new RNG possibility permitting its prospects to offset their GHG emissions linked to their pure gasoline consumption. MGE is the primary utility in Wisconsin to supply such a RNG choice to its prospects.
Different highlights from the report
The report and our ESG information middle comprise data on MGE’s company technique and points associated to local weather, security and operations, buyer and worker engagement, threat administration, in addition to as governance and oversight. Different highlights embody:
- Increasing our use of agrivoltaics past pollinator habitats to incorporate the usage of sheep for photo voltaic grazing at our Tyto Photo voltaic set up. The sheep are in a position to sustainably handle the vegetation cowl beneath and across the photo voltaic panels.
- Develop new choices for patrons desirous about renewable power for his or her house or enterprise.
- Partnership to ship a long-duration power storage system, the primary of its variety in the US, able to offering not less than 10 hours of power storage. The 18 MW challenge obtained an award for a cooperative settlement with the U.S. Division of Vitality in July 2024 to help its building.
- Work with prospects to develop and handle electrical car (EV) charging.
- Collaborating with a whole lot of native organizations and neighborhood stakeholders to supply prospects with data on power effectivity, conservation, security and different data.
- Supporting our communities by way of charitable giving from the corporate’s philanthropic arm, which has donated greater than $8.7 million to greater than 400 nonprofit organizations.
- Partnership to arrange persevering with coaching on our all-risk intervention plan. In 2024, MGE informally activated plans for a serious coaching train with native, state, and federal companions.
- Welcoming three new administrators in 2024 as a part of the continued refresh of the board of administrators.
Dedication to transparency and disclosure
MGE is dedicated to serving to its prospects, buyers and different stakeholders higher perceive the corporate’s goals, long-term methods and progress towards attaining its objectives.
ESG studies from the Edison Electrical Institute (EEI) and the American Fuel Affiliation (AGA)
MGE continues to take part in EEI and AGA’s ESG sustainability reporting fashions. Voluntary and industry-specific fashions embody each qualitative and quantitative data. The quantitative mannequin consists of information regarding MGE’s power portfolio (manufacturing and capability), emissions, capital expenditures and human and pure assets. The qualitative mannequin consists of data regarding the corporate’s methods for a transition in direction of deep decarbonization and higher sustainability.
MGE’s EEI-AGA fashions can be found in our ESG information middle, which incorporates different data.
About MGE
MGE generates and distributes electrical energy to 163,000 prospects in Dane County, Wisconsin, and purchases and distributes pure gasoline to 176,000 prospects in seven counties in south-central and western Wisconsin. MGE’s dad or mum firm is MGE Vitality, 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 Fuel and Electrical
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