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Revenue | 9 Months Ended
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Sep. 30, 2021
Revenue from Contract with Customer [Abstract] |
Revenue from Contract with Customer | Reven ue - MGE Energy and MGE. Revenues disaggregated by revenue source were as follows:
|  | Three Months Ended |  |  | Nine Months Ended |
(In thousands) |  | September 30, |  |  | September 30, |
Electric revenues |  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Residential |  | $ | 44,398 |  |  | $ | 45,009 |  |  | $ | 117,229 |  |  | $ | 113,311 |
Commercial |  |  | 60,996 |  |  |  | 57,822 |  |  |  | 161,270 |  |  |  | 152,844 |
Industrial |  |  | 3,380 |  |  |  | 3,234 |  |  |  | 9,469 |  |  |  | 8,797 |
Other-retail/municipal |  |  | 9,478 |  |  |  | 8,620 |  |  |  | 26,340 |  |  |  | 24,874 |
Total retail |  |  | 118,252 |  |  |  | 114,685 |  |  |  | 314,308 |  |  |  | 299,826 |
Sales to the market |  |  | 3,071 |  |  |  | 1,554 |  |  |  | 8,854 |  |  |  | 2,604 |
Other revenues |  |  | 316 |  |  |  | 115 |  |  |  | 948 |  |  |  | 660 |
Total electric revenues |  |  | 121,639 |  |  |  | 116,354 |  |  |  | 324,110 |  |  |  | 303,090 |
Gas revenues |  |  |  |  |  |  |  |  |  |  |  |
Residential |  |  | 14,643 |  |  |  | 12,436 |  |  |  | 72,286 |  |  |  | 61,328 |
Commercial/Industrial |  |  | 8,069 |  |  |  | 5,052 |  |  |  | 42,972 |  |  |  | 32,961 |
Total retail |  |  | 22,712 |  |  |  | 17,488 |  |  |  | 115,258 |  |  |  | 94,289 |
Gas transportation |  |  | 1,256 |  |  |  | 1,152 |  |  |  | 4,589 |  |  |  | 4,179 |
Other revenues |  |  | 52 |  |  |  | 3 |  |  |  | 97 |  |  |  | 100 |
Total gas revenues |  |  | 24,020 |  |  |  | 18,643 |  |  |  | 119,944 |  |  |  | 98,568 |
Non-regulated energy revenues |  |  | 214 |  |  |  | 214 |  |  |  | 464 |  |  |  | 466 |
Total Operating Revenue |  | $ | 145,873 |  |  | $ | 135,211 |  |  | $ | 444,518 |  |  | $ | 402,124 |
Performance Obligations A performance obligation is a promise in a contract to transfer a distinct good or service to the customer and is the unit of account. A contract's transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. The majority of contracts have a single performance obligation. Retail Revenue (Residential, Commercial, Industrial, and Other Retail/Municipal) Providing electric and gas utility service to retail customers represents MGE's core business activity. Tariffs are approved by the PSCW through a rate order and provide MGE's customers with the standard terms and conditions, including pricing terms. The performance obligation to deliver electricity or gas is satisfied over time as the customer simultaneously receives and consumes the commodities provided by MGE. MGE recognizes revenues as the commodity is delivered to customers. Meters are read on a systematic basis throughout the month based on established meter-reading schedules and customers are subsequently billed for services received. At the end of the month, MGE accrues an estimate for unbilled commodities delivered to customers. The unbilled revenue estimate is based on daily system demand volumes, weather factors, estimated line losses, estimated customer usage by class, and applicable customer rates. Utility Cost Recovery Mechanisms MGE's tariff rates include a provision for fuel cost recovery. The PSCW allows Wisconsin utilities to defer electric fuel-related costs, less excess revenues, that fall outside a symmetrical cost tolerance band. Any over- or under-recovery of the actual costs in a given year is determined in the following year and is then reflected in future billings to electric retail customers. Over-collection of fuel-related costs that are outside the approved range will be recognized as a reduction of revenue. Under-collection of these costs will be recognized in "Purchased power" expense in the consolidated statements of income. The cumulative effects of these deferred amounts will be recorded in "Regulatory assets" or "Regulatory liabilities" on the consolidated balance sheets until they are reflected in future billings to customers. See Footnote 9.b. for further information. MGE also has other cost recovery mechanisms. For example, any over-collection of the difference between actual costs incurred and the amount of costs collected from customers is recorded as a reduction of revenue in the period incurred. Sales to the Market Sales to the market include energy charges, capacity or demand charges, and ancillary charges represented by wholesale sales of electricity made to third parties who are not ultimate users of the electricity. Most of these sales are spot market transactions on the markets operated by MISO. Each transaction is considered a performance obligation and revenue is recognized in the period in which energy charges, capacity or demand charges, and ancillary services are sold into MISO. MGE reports, on a net basis, transactions on the MISO markets in which it buys and sells power within the same hour to meet electric energy delivery requirements. Transportation of Gas MGE has contracts under which it provides gas transportation services to customers who have elected to purchase gas from a third party. MGE delivers this gas via pipelines within its service territory. Revenue is recognized as service is rendered or gas is delivered to customers. Tariffs are approved by the PSCW through a rate order and provide gas transportation customers with standard terms and conditions, including pricing terms.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI http://asc.fasb.org/topic&trid=49130388 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b)(2) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130556-203045 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130550-203045 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130558-203045 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 + Details
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