Feb. 27--The frigid winter helped to increase profits for MGE Energy in 2013, especially during the last three months.
The Madison utility holding company, parent of Madison Gas & Electric, reported net income of $14.1 million, or 41 cents a share, on revenues of $155.3 million for the fourth quarter that ended Dec. 31.
That's up from net income of $10.5 million, or 30 cents a share, on $137.0 million in revenues for the last three months of 2012.
Natural gas sales rose 28 percent over the fourth quarter of 2012. In December, the average temperature was 17.7 degrees, substantially chillier than the December 2012 average temperature of 30.2 degrees.
For the full year, MGE had earnings of $74.9 million, or $2.16 a share, on revenues of $590.9 million, compared with net income of $64.4 million, or $1.86 a share, on revenues of $541.3 million.
The per-share amounts reflect a three-for-two stock split the company declared on Dec. 20, 2013, that took effect on Feb. 7 in the form of a stock dividend.
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