MEDIUMBuilt-inGeographic
Wisconsin
“10-K Item 1A: 'Our business activities, including those of our subsidiaries, are concentrated in the State of Wisconsin.'”
MGEE · Concentration risk · 10-K extracted
MGE Energy (MGEE) concentration risks
Updated
The most significant concentration MGE Energy discloses is Wisconsin, classified MEDIUM by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: MGE Energy’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 3 disclosed concentrations
HIGH0
MEDIUM3
LOW0
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
MEDIUMBuilt-inRegulatory
PSCW
“10-K Item 1A: 'MGE Energy is subject to regulation as a holding company by the PSCW. The PSCW regulates MGE's rates; terms and conditions of service; various business practices and transactions'”
MEDIUMBuilt-inCommodity
coal
“10-K Item 1A: 'A significant portion of our electric generating capacity is dependent on coal.'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-06-24The company's disclosed concentration profile reflects three structural, moderate-share exposures that are characteristic of a regulated utility operating in a defined geographic footprint. Business activities, including those of its subsidiaries, are concentrated in the State of Wisconsin — a medium disclosed share that is structural in character, as the regulated service territory defines where operations are legally permitted to generate returns. This geographic focus is inherent to the utility franchise rather than a choice that can be diversified away. Layered on that is a regulatory dependency: the company is subject to regulation as a holding company by the PSCW, which regulates rates, terms and conditions of service, and various business practices and transactions — also a medium disclosed share with a structural character. Rate case outcomes and regulatory decisions directly govern revenue and returns, making the regulator-rate dynamic a persistent feature of the earnings profile rather than a transient risk. A third exposure is fuel: a significant portion of electric generating capacity is dependent on coal — a medium disclosed share that is structural and reflects the current generation asset mix. This creates exposure to coal supply availability, price movements, and evolving environmental and energy-transition regulatory requirements that could affect fuel economics over time. Together, these three exposures are mutually reinforcing and typical of a single-territory regulated utility: all are moderate by disclosed size, all are structural, and none can be eliminated through diversification without a fundamental change in the regulated business model.
For the engine’s reasoning on MGEE’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Utilities - Regulated Electric
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| CNP | CenterPoint Energy, Inc (Holdin | 2 | 2 | 0 | 4 |
| D | Dominion Energy, Inc. | 2 | 1 | 0 | 3 |
| AEE | Ameren Corporation | 2 | 0 | 0 | 2 |
| MGEE● | MGE Energy Inc. | 0 | 3 | 0 | 3 |
| AEP | American Electric Power Company | 0 | 2 | 0 | 2 |
| CMS | CMS Energy Corporation | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.