Net-Zero Carbon Electricity by 2050

Madison Gas and Electric (MGE) is working toward a more sustainable future for the benefit of all of its investors, employees, customers and broader community. The company is targeting net-zero carbon electricity by 2050.

"In creating an energy future for our customers and shareholders, we need ambitious and crucial reductions in carbon emissions that align with the work of the scientific community, specifically the Intergovernmental Panel on Climate Change and its assessment of limiting global temperature increases to 1.5 degrees Celsius," MGE Chairman, President and CEO Jeff Keebler said. "Our net-zero carbon goal is aggressive, and it will require technologies not yet commercially available or cost-effective, but it is where we need to be."

Strategies for deep decarbonization

MGE already has been on a path toward reduced carbon emissions, having previously established a carbon reduction goal of at least 80% by 2050 from 2005 levels. The U.S. Mid-Century Strategy (MCS) for Deep Decarbonization identifies greenhouse gas emissions reductions of 80% by 2050 (from 2005 levels).

The MCS is the United States' strategy for meeting the goals of the Paris Agreement on climate change to limit global warming. Both the Intergovernmental Panel on Climate Change and the MCS rely on decarbonizing electric generation, using energy efficiently, and electrifying other energy uses, including transportation. These are the strategies MGE is pursuing and will continue to pursue to achieve deep decarbonization and net-zero carbon electricity. If we can go further faster by working together with our customers, we will.

See MGE's 2018 Environmental and Sustainability Report for additional information.

Energy 2030

In November 2015, MGE announced its Energy 2030 framework, which laid out the company's foundational objectives for building a community energy company for the future:

Since announcing Energy 2030, MGE has developed projects that will increase the company's owned renewable capacity by 600%. MGE will continue to seize opportunities and take advantage of new, evolving technologies to advance its carbon reduction goals.

Cleaner energy

MGE is working to achieve a more sustainable energy future using the best, most cost-effective technologies as they become available. MGE already has taken action toward its goals:

New technologies

Enabling new technologies, such as electric vehicles (EVs) and smart home technology, is a priority under MGE's Energy 2030 framework.

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.