As a regulated utility, it primarily serves the Madison, Wisconsin metropolitan area with electricity, gas and green energy options.

The main offices of MGE are located in a complex surrounding the former Chicago and North Western Railway station in Madison.

In 2021, Morgan Stanley described MGE as one of the four American electric utilities with both "the best exposure to renewables growth" and with a large proportion of transmission in their asset base, putting them in a position to benefit from US Department of Energy proposals to ease development and increase incentives for transmission projects.

[4] The average residential customer will pay about $4.10 more per month for electricity in 2022, which is slightly less than the impact of the original 5.9% rate hike MGE requested.

The utility serves 149,000 electric customers, including the city of Madison and some suburban communities in Dane County.