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Derivative and Hedging Instruments (Tables) | 12 Months Ended
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Dec. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Gross Notional Volume of Open Derivatives | The gross notional volume of open derivatives is as follows:
|  | December 31, 2015 |  | December 31, 2014 |
| Commodity derivative contracts | 355,580 MWh |  | 448,000 MWh |
| Commodity derivative contracts | 5,037,500 Dth |  | 4,405,000 Dth |
| FTRs | 2,000 MW |  | 1,854 MW |
Fair Value of Derivative Instruments on the Balance Sheet | The following table summarizes the fair value of the derivative instruments on the consolidated balan ce sheet s. All derivative instruments in this table are presented on a gross basis and are calculated prior to the netting of instruments with the same counterparty under a master netting agreement as well as the netting of collateral. For financial statem ent purposes, MGE Energy and MGE have netted instruments with the same counterparty under a master netting agreement as well as the netting of collateral. At December 31, 2015 and 2014, MGE Energy and MGE had the right to reclaim collateral (a receivabl e) of $1.0 million and $2.2 million, respectively.
| Asset Derivatives |  | Liability Derivatives
(In thousands) | Balance Sheet Location |  | Fair Value |  | Balance Sheet Location |  | Fair Value
December 31, 2015 |  |  |  |  |  |  |
Commodity derivative contracts | Other current assets | $ | 146 | Derivative liability (current) | $ | 1,266
Commodity derivative contracts | Other deferred charges |  | 144 |  | Derivative liability (long-term) |  | 70
FTRs | Other current assets |  | 234 |  | Derivative liability (current) |  | -
PPA | N/A |  | N/A |  | Derivative liability (current) |  | 8,340
PPA | N/A |  | N/A |  | Derivative liability (long-term) |  | 44,930
December 31, 2014 |  |  |  |  |  |  |
Commodity derivative contracts | Other current assets | $ | 130 |  | Derivative liability (current) | $ | 2,262
Commodity derivative contracts | Other deferred charges |  | 93 |  | Derivative liability (long-term) |  | 171
FTRs | Other current assets |  | 642 |  | Derivative liability (current) |  | -
PPA | N/A |  | N/A |  | Derivative liability (current) |  | 6,870
PPA | N/A |  | N/A |  | Derivative liability (long-term) |  | 46,560
Offsetting Assets | The following tables show the effect of netting arrangements for recognized derivative assets and liabilities that are subject to a master netting arrangement or similar arrangement on the consolidated balance sheets.
| Offsetting of Derivative Assets |
|  |  | Gross Amounts |  | Gross Amounts Offset in Balance Sheets |  | Collateral Posted Against Derivative Positions |  | Net Amount Presented in Balance Sheets |
| (In thousands) |  |  |  |  |
| December 31, 2015 |  |  |  |  |  |  |  |  |
| Commodity derivative contracts | $ | 290 | $ | (290) | $ | - | $ | - |
| FTRs |  | 234 |  | - |  | - |  | 234 |
| December 31, 2014 |  |  |  |  |  |  |  |  |
| Commodity derivative contracts | $ | 223 | $ | (223) | $ | - | $ | - |
| FTRs |  | 642 |  | - |  | - |  | 642 |
Offsetting Liabilities |
| Offsetting of Derivative Liabilities |
|  |  | Gross Amounts |  | Gross Amounts Offset in Balance Sheets |  | Collateral Posted Against Derivative Positions |  | Net Amount Presented in Balance Sheets |
| (In thousands) |  |  |  |  |
| December 31, 2015 |  |  |  |  |  |  |  |  |
| Commodity derivative contracts | $ | 1,336 | $ | (290) | $ | (1,038) | $ | 8 |
| PPA |  | 53,270 |  | - |  | - |  | 53,270 |
| December 31, 2014 |  |  |  |  |  |  |  |  |
| Commodity derivative contracts | $ | 2,433 | $ | (223) | $ | (2,179) | $ | 31 |
| PPA |  | 53,430 |  | - |  | - |  | 53,430 |
Derivative Gains and Losses in Balance Sheet | The following tables summarize the unrealized and realized gains (losses) related to the derivative instruments on the consolidated balance sheets at December 31, 2015 and 2014, and the consolidated income statements for the years ended December 31, 2015 and 2014.
|  | 2015 |  |  | 2014
|  | Current and Long-Term Regulatory Asset |  | Other Current Assets |  |  | Current and Long-Term Regulatory Asset |  | Other Current Assets
(In thousands) |  |  |  |  |  |  |  |  |
Balance at January 1, | $ | 54,998 | $ | 1,001 |  | $ | 63,893 | $ | 411
Unrealized loss (gain) |  | 8,586 |  | - |  |  | (14,518) |  | -
Realized (loss) gain reclassified to a deferred account |  | (2,953) |  | 2,953 |  |  | 595 |  | (595)
Realized (loss) gain reclassified to income statement |  | (6,549) |  | (2,746) |  |  | 5,028 |  | 1,185
Balance at December 31, | $ | 54,082 | $ | 1,208 |  | $ | 54,998 | $ | 1,001
Derivative Gains and Losses in Income Statement |
|  | Realized Losses (Gains)
|  | 2015 |  |  | 2014
|  | Fuel for Electric Generation/ Purchased Power |  | Cost of Gas Sold |  |  | Fuel for Electric Generation/ Purchased Power |  | Cost of Gas Sold
(In thousands) |  |  |  |  |
Year Ended December 31: |  |  |  |  |  |  |  |  |
Commodity derivative contracts | $ | 2,236 | $ | 2,548 |  | $ | (5,515) | $ | (1,103)
FTRs |  | (309) |  | - |  |  | (1,110) |  | -
PPA |  | 4,820 |  | - |  |  | 1,515 |  | -

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