MGE’s Annual Company Accountability and Sustainability Report highlights MGE’s ongoing clear vitality transition and progress towards its industry-leading carbon discount objectives.
MADISON, Wis.–(BUSINESS WIRE)–Madison Fuel 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 objectives, together with its aim of net-zero carbon electrical energy by 2050.
MGE is working to attain deep decarbonization, per world 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 objectives 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 diminished carbon emissions by about 40% since 2005, our baseline. With accomplished tasks, tasks at the moment underneath development and proposed tasks 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 by means of 2028.
MGE continues to transition away from coal-fired era and has no sole possession of coal-fired belongings. By the tip of 2032, MGE expects to have eradicated coal from its possession portfolio.
“Carbon is our goal. On behalf of all MGE clients, by 2030, we anticipate to ship electrical energy with 80% fewer carbon emissions, and by 2050, we anticipate to ship net-zero carbon electrical energy,” stated Chairman, President and CEO Jeff Keebler. “We’re transitioning our vitality provide cost-effectively, participating clients in decarbonization methods and dealing with residential and enterprise clients towards the electrification of transportation and different finish makes use of. We’re working with our clients to create a extra sustainable future whereas making certain continued top-ranked electrical 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, based on 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 whole response time in 2023 rating within the high 10% of a nationwide {industry} survey of greater than 75 pure fuel utilities.
Focusing on net-zero methane emissions
Greater than half of our greenhouse fuel (GHG) emissions come from sources already included in our net-zero carbon electrical energy aim. That features emissions from our fossil-fueled electrical era amenities and bought energy agreements.
Constructing on our sustainability and clear vitality objectives, MGE has a aim to attain net-zero methane emissions from our pure fuel distribution system by 2035. Along with proactive steps MGE already has taken, methods for attaining net-zero methane emissions embody enhanced leak detection and restore, the implementation of cost-effective applied sciences and processes, and exploring the usage of renewable pure fuel (RNG). In 2024, MGE launched a brand new RNG possibility for patrons to offset their GHG emissions from their pure fuel use. MGE is the primary utility in Wisconsin to supply one of these RNG choice to clients.
Different report highlights
The report and our ESG Knowledge Heart characteristic details about MGE’s company technique and climate-related issues, security and operations, buyer and worker engagement, threat administration, and 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 facility. The sheep are capable of handle the bottom cowl underneath and across the photo voltaic panels in a sustainable manner.Growing new choices for patrons concerned with renewable vitality for his or her dwelling 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 obtained an award for a cooperative settlement with the U.S. Division of Vitality in July 2024 to help its development.Working with clients to develop and to handle electrical car (EV) charging.Partnering with a whole lot of native organizations and neighborhood stakeholders to succeed in clients with vitality effectivity and conservation, security and different info.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 clients, traders and different stakeholders higher perceive the corporate’s objectives, long-term methods and progress towards attaining its objectives.
Edison Electrical Institute (EEI) and American Fuel Affiliation (AGA) ESG Reporting
MGE continues to take part in EEI’s and AGA’s ESG sustainability reporting templates. The voluntary, industry-specific templates embody each qualitative and quantitative info. The quantitative template consists of information associated to MGE’s vitality portfolio (era and capability), emissions, capital expenditures, and human and pure sources. The qualitative template consists of info associated to the corporate’s methods for transitioning towards deep decarbonization and larger sustainability.
MGE’s EEI-AGA templates can be found in our ESG Knowledge Heart, which incorporates different disclosures.
About MGE
MGE generates and distributes electrical energy to 163,000 clients in Dane County, Wis., and purchases and distributes pure fuel to 176,000 clients in seven south-central and western Wisconsin counties. MGE’s mum or dad firm is MGE Vitality, Inc. The corporate’s roots within the Madison space date again greater than 150 years.
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Steve SchultzCorporate Communications Manager608-252-7219 | sbschultz@mge.com
Supply: Madison Fuel and Electrical
