<SEC-DOCUMENT>0000950170-25-001750.txt : 20250106
<SEC-HEADER>0000950170-25-001750.hdr.sgml : 20250106
<ACCEPTANCE-DATETIME>20250106105343
ACCESSION NUMBER:		0000950170-25-001750
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20250102
FILED AS OF DATE:		20250106
DATE AS OF CHANGE:		20250106

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Keebler Jeffrey M
		CENTRAL INDEX KEY:			0001650481
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-49965
		FILM NUMBER:		25509458

	MAIL ADDRESS:	
		STREET 1:		133 S BLAIR ST
		STREET 2:		PO BOX 1231
		CITY:			MADISON
		STATE:			WI
		ZIP:			53701-1231

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MGE ENERGY INC
		CENTRAL INDEX KEY:			0001161728
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRIC, GAS & SANITARY SERVICES [4900]
		ORGANIZATION NAME:           	01 Energy & Transportation
		IRS NUMBER:				392040501
		STATE OF INCORPORATION:			WI
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		133 SOUTH BLAIR STREET
		STREET 2:		PO BOX 1231
		CITY:			MADISON
		STATE:			WI
		ZIP:			53701-1231
		BUSINESS PHONE:		(608) 252-7000

	MAIL ADDRESS:	
		STREET 1:		133 SOUTH BLAIR STREET
		STREET 2:		PO BOX 1231
		CITY:			MADISON
		STATE:			WI
		ZIP:			53701-1231
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>ownership.xml
<DESCRIPTION>4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0508</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2025-01-02</periodOfReport>

    <issuer>
        <issuerCik>0001161728</issuerCik>
        <issuerName>MGE ENERGY INC</issuerName>
        <issuerTradingSymbol>MGEE</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001650481</rptOwnerCik>
            <rptOwnerName>Keebler Jeffrey M</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>133 S BLAIR STREET</rptOwnerStreet1>
            <rptOwnerStreet2>PO BOX 1231</rptOwnerStreet2>
            <rptOwnerCity>MADISON</rptOwnerCity>
            <rptOwnerState>WI</rptOwnerState>
            <rptOwnerZipCode>53701-1231</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>true</isDirector>
            <isOfficer>true</isOfficer>
            <isTenPercentOwner>false</isTenPercentOwner>
            <isOther>false</isOther>
            <officerTitle>Chairman, President &amp; CEO</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>false</aff10b5One>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2025-01-02</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>F</transactionCode>
                <equitySwapInvolved>false</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>1103</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>92.96</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>15169.9307</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Includes adjustments for accrued dividends pursuant to dividend reinvestment and exempt from Sec 16 under Rule 16a-11</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Jeffrey M. Keebler</signatureName>
        <signatureDate>2025-01-06</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
