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Leases
6 Months Ended
Jun. 30, 2023
Leases [Abstract]  
Leases

NOTE 5. LEASES

In March 2023, the Company entered into an agreement with Rathdrum Power, LLC (Rathdrum) amending and restating the previously existing PPA for purchase of all the output of the Lancaster plant, a 270 MW natural gas-fired combined cycle combustion turbine. The restated agreement meets the definition of a lease, and all payments are variable in nature, based on capacity, usage or performance of the plant. Therefore, there is no resulting lease obligation or corresponding ROU asset recorded by the Company.

The Company previously had a variable interest in Rathdrum through the PPA, however did not consider itself the primary beneficiary of the entity. As a result of entering the amended and restated PPA, the Company reconsidered whether Rathdrum is a variable interest

entity, concluding Rathdrum no longer meets the definition of a variable interest entity. This conclusion does not materially impact the Company's financial statements.