MG&E price hike is insane this month

I believe I controlled for the heating degree days correctly but here is my math:

I live in an apartment in a very old house where we split the cost of the electric bill between 2 units. Our most expensive (total, not split between units) gas bill last year was also this cycle, and cost $273 total. This year, it is $428. We have always had our thermostat set to 65 in the winter, and have not changed that in three years. It is always crazy cold in our house during the winter.

Heating degree days this month in 2025 were 1363. This month in 2026 they were 1511. That is a 10.86% increase. MGE's website says that customer's should experience an average of 2.77% increase this year. With the % increase in heating degree days combined with the increase MGE claimed, we would have owed $37.25 more than last year. Instead, we owed $155.66 more than last year. Accounting for the 10.86% increase in heating degree days, this means that MGE raised our gas bill by 46.1% instead of 2.77%.

Like maybe I'm missing something else from our bill in the calculation, but it seems absolutely insane?