Income Taxes

3 Months Ended

Mar. 31, 2024

Income Tax Disclosure [Abstract]

Income Taxes

6. Income Taxes

Reconciliation between the statutory rate and effective tax rate:

	Three Months Ended March 31
	2024		2023
Federal statutory rate	21.0	%	21.0	%
State tax (net of federal tax effect)	6.2		6.2
(Decreases) increases:
Plant regulatory differences (a)	(4.3)		(3.5)
Other (net)	0.3		(1.3)
Effective income tax rate	23.2	%	22.4	%

(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.