UNDATED (WSAU-Wheeler News) A cold winter means a hot investment for shareholders of Wisconsin utilities.
Madison Gas-and-Electric reports a 34-percent increase in its net income for the final quarter of 2013 -- due mainly to a 28-percent jump in natural gas sales. M-G-and-E made just over 14-million dollars from October-through-December, up from 10-and-a-half million the year before. Earnings totaled 41-cents a share, 11-cents more than the same quarter the previous year.
The higher natural gas sales were spurred by an average temperature that was 13-degrees colder in December than in the same month of 2012. Madison's average temperature that month was almost 18-degrees. For all of last year, Madison Gas-and-Electric netted $75-million, up from $64-million in 2012.