Three Months Ended March 31,

2023

2022

U.S. statutory rate

21.0

%

21.0

%

Increases (reductions) resulting from:

State taxes, net of federal benefit

4.1

4.0

Reversal of excess deferred income taxes

(4.7

)

(5.3

)

Allowance for equity funds used during construction

—

(0.2

)

Settlements of uncertain tax positions

(9.9

)

—

Other, net

(0.1

)

—

Effective tax rate

10.4

%

19.5

%