Income Taxes

9 Months Ended

Sep. 30, 2023

Income Tax Disclosure [Abstract]

Income Taxes

6. Income Taxes

Reconciliation between the statutory rate and effective tax rate:

	Nine Months Ended Sept. 30
	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)	(3.4)		(3.7)
Other (net)	(1.1)		(1.4)
Effective income tax rate	22.7	%	22.1	%

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