Income Taxes

3 Months Ended

Mar. 31, 2023

Income Tax Disclosure [Abstract]

Income Taxes

6. Income Taxes

Reconciliation between the statutory rate and effective tax rate:

	Three Months Ended March 31
	2023		2022
Federal statutory rate	21.0	%	21.0	%
State tax (net of federal tax effect)	6.2		6.2
Decreases:
Plant regulatory differences (a)	(3.5)		(3.7)
Other (net)	(1.3)		(0.5)
Effective income tax rate	22.4	%	23.0	%

(a)Regulatory differences for income tax primarily relate to the credit of excess deferred taxes to customers through the average rate assumption method. Income tax benefits associated with the credit of excess deferred taxes are offset by corresponding revenue reductions.