MGE Shareholder Advocacy
Who We Are: We are a group of Madison Gas & Electric (MGE) shareholders (Shareholders) who came together in the summer and fall of 2014 after being concerned that MGE's proposed 2014 billing scheme was leading the company in the wrong direction.
What Our Past Activities have been: The shareholders have routinely met since November of 2014 and decided that writing resolutions is the best course of action for MGE management to take notice of our concerns.
When: In the past three years, SCE (Shareholders for Clean Energy) has proposed 12 resolutions on various topics (policies, studies, governance, etc) and have withdrawn 11 of them in exchange for working with MGE executives on shared issues.
Why We Took this Action: Our group of Shareholders believes that MGE should be leading the country in clean energy policies and practice. However MGE's 2014 billing scheme proposal was anti-clean energy, and regressive in that it discourages energy efficiency and use of renewable energy and punishes low energy users (students, elderly, apartment dwellers, and those adopting low energy technologies).
MGE provides 13.7% of its electricity from renewable energy with no concrete plans to increase this percentage significantly. A 2014 utility industry and finance report concludes that the riskiest investments for utilities, ratepayers and shareholders are large base load fossil fuel and nuclear plants. In contrast, energy efficiency, distributed energy and renewable energy are seen as more attractive investments that have lower risks and cost.
What's next: Shareholders meet every 6 to 8 weeks to review progress of MGE in fulfilling its obligations and to discuss future tactics. MGE Shareholders for Clean Energy continue to unite additional MGE shareholders and explore strategies to encourage MGE to be a national clean energy leader.
How to get involved: If you are a MGE shareholder or if you purchase MGE stock, you are invited to join the meetings and activities. For more information, contact email@example.com