MGE shareholders have organized into the group MGE Shareholders for Clean Energy and are working to unify shareholders who want reliable long-term investments by MGE to “boldly pursue more clean energy generation!”
All persons who are listed as shareholders can vote via the MGE proxy statements, where shareholder resolutions and other voting questions are posted. They can also attend the MGE shareholder meeting, expected in May 2017, location to be determined. Past meetings have been held at the Marriott West in Middleton, WI.
See MGE and MGE Shareholder Group announcement – March 9, 2015
See RePower Madison’s November 2014 Press Release announcing the shareholder advocacy campaign.
2015 Shareholder Resolutions
RePower Madison supports MGE shareholders who are advocating for MGE to be a national leader in clean energy. MGE shareholders submitted two resolutions that were subsequently withdrawn due to an agreement with MGE publicly announced on March 9, 2015:
- Report on Providing 25% Renewable Energy by 2025
- Including Sustainability Metrics in Executive Compensation
Background on the MGE and MGE Shareholder Agreement – March 2015
Madison Gas and Electric and a group of nine shareholders who put forward two proxy resolutions for consideration at this year’s annual MGE Energy shareholder meeting on May 19, 2015, came to an agreement, resulting in the withdrawal of both resolutions.
The agreement, in summary, includes the following:
- A commitment from MGE to increase the use of renewable energy sources as part of a continued strategy to a cleaner energy future;
- MGE will work with an expert, in consultation with the shareholder group, to study adding substantial and measurable amounts of renewable energy to MGE’s supply mix, including regular meetings with the identified shareholder group to review the study’s progress and findings;
- A reaffirmation from MGE’s Chairman at the 2015 Annual Shareholder Meeting of the company’s commitment to the study and to the transition to a cleaner energy future;
- Support of, and participation by the shareholder group in, MGE’s Community Energy Conversations;
- MGE will continue to prepare its Environmental Responsibility Report at least biennially and the Board will continue to review the progress toward meeting MGE’s existing corporate goal of maintaining or improving its culture of environmental stewardship when considering executive compensation.