The MGE Energy Board of Directors provides oversight of the Company's long-term strategic planning, business initiatives, major capital projects, risks and budget matters. Board members are kept informed of our business by various reports and documents, including operating and financial reports, made available at board and committee meetings by our CEO and other officers. We are dedicated to conducting all aspects of our business in an honest and fair manner.
Board Oversight Manages and Mitigates Risk
Through strategic planning and a consistent, careful approach, MGE Energy is well positioned to manage risk. The board is involved in the process of overseeing the primary operational, financial and regulatory risks facing MGE Energy and its regulated utility, MGE. Trends in economic, business and commodity market conditions; legislative and regulatory initiatives and their potential or actual effects upon operations and capital expenditures; information technology systems and cyber security; and operational issues are recurring matters considered by the board in the course of its regular meetings.
MGE Energy's directors initiate discussion at any time, either directly or through the lead director, on any areas of concern, including risk identification and assessment, controls, management and oversight. MGE management regularly presents to the board on issues of strategic importance and conducts periodic revisions of risks enterprise-wide under board oversight.
MGE also operates within a highly regulated environment, which serves to protect the interests of customers and investors. MGE works with the Public Service Commission of Wisconsin (PSCW) to ensure its operations best serve the public interest, the environment and those who invest. The PSCW has oversight of rates, issuance of securities and construction of infrastructure, among other things.
Strategic Business Goals, including Environmental Performance, Factors in Executive Compensation
MGE Energy's Board of Directors' compensation committee, composed of independent directors, takes into consideration environmental performance, among other factors, when evaluating executive compensation.
MGE Energy's compensation committee considers performance goals that are critical to MGE Energy's success. These goals include earnings, system reliability and customer satisfaction. The committee and board also consider other performance measures such as bond ratings, cost containment, environmental performance and management of day-to-day operations as well as individual performance measures.
The committee employs an independent consultant for its compensation review program. (For more compensation information, see governance links below.)
The resources below provide the guidelines and framework in which we do business.
Sustainability and Governance
View the Fact Sheet summarizing MGE Energy's sustainability and governance.