It’s a first in company history. On May 16th, Madison Gas & Electric shareholders brought a resolution to the annual shareholder meeting.
The company’s CEO vowed to reach the City of Madison’s renewable energy goal by the year 2030. With a few citizens applying pressure to MGE, they made a public promise to do all they can to reach this goal.
MGE’s 35,000 shareholders hold over 34 million shares of stock. Yet one small group, MGE Shareholders for Clean Energy, pushed the company to invest its resources in energy efficient transportation.
The 7% vote that the resolution received is a huge victory. To reintroduce the resolution the following year, shareholders only need 3% of the vote. Although MGE can still decide against the resolution, surpassing the 3% vote opens the door for further support of the resolution.
Beth Esser, the co-founder and chair of the 90 person organization, spoke with WORT about the resolution.
