Income Taxes (Tables)

6 Months Ended

Jun. 30, 2025

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

Reconciliation between the statutory rate and ETR:


	Six Months Ended June 30
	2025		2024
Federal statutory rate	21.0	%	21.0	%
State income tax on pretax income, net of federal tax effect	3.5		3.5
(Decreases) increases:
PTCs (a)	(12.0)		(16.5)
Plant regulatory differences (b)	(5.6)		(5.1)
Other tax credits, net operating loss & tax credit allowances	(0.9)		(1.3)
Other, net	(0.1)		0.1
Effective income tax rate	5.9	%	1.7	%

(a)Wind PTCs (net of estimated transfer discounts) are generally credited to customers (reduction to revenue) and do not materially impact earnings.

(b)Plant regulatory differences primarily relate to the credit of excess deferred taxes to customers. Income tax benefits associated with the credit are offset by corresponding revenue reductions.