COMMITMENTS AND CONTINGENT LIABILITIES	3 Months Ended
Mar. 31, 2026
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENT LIABILITIES	COMMITMENTS AND CONTINGENT LIABILITIES Litigation We are involved in certain legal proceedings before various courts, governmental agencies and mediation panels concerning matters arising in the ordinary course of business. These may include proceedings such as contract disputes, eminent domain and vegetation management activities, regulatory matters and pending judicial matters. We cannot predict the final disposition of such proceedings. We regularly review legal matters and record provisions for claims that are considered reasonably estimable and probable of loss. Rate of Return on Equity Complaints Two complaints, the Initial Complaint in 2013 and the Second Complaint in 2015, were filed with the FERC by combinations of consumer advocates, consumer groups, municipal parties and other parties challenging the base ROE in MISO. The complaints were filed under Section 206 of the Federal Power Act requesting that the FERC find the MISO regional base ROE for all MISO TOs, including our MISO Regulated Operating Subsidiaries, to no longer be just and reasonable. The complainants sought a FERC order to reduce the base ROE used in the formula transmission rates for our MISO Regulated Operating Subsidiaries, reduce the equity component of our capital structure and terminate the ROE adders approved for certain MISO Regulated Operating Subsidiaries. After years of litigation, a series of FERC orders, and an opinion by the D.C. Circuit Court vacating those orders, the FERC issued an order on October 17, 2024, finding that the base ROE for the Initial Complaint should be 9.98% for all MISO TOs, including our MISO Regulated Operating Subsidiaries, and the top of the range of reasonableness for that period should be 12.58%. The FERC determined that this base ROE should apply during the first refund period of November 12, 2013 to February 11, 2015 and from September 28, 2016 prospectively. The FERC also reaffirmed its previous finding that no refunds would be ordered on the Second Complaint. MISO and the MISO TOs requested an extension of the refund resettlement period until July 31, 2026, which was approved by the FERC on April 2, 2026. Certain MISO TOs, including us, as well as other interested parties, have sought review of FERC’s decision in the D.C. Circuit Court. Those appeals remain pending, and we cannot predict their outcome. During the three months ended March 31, 2026 and 2025, we made refund payments of $7 million and $6 million, respectively, in accordance with the refund provisions of the order. As of March 31, 2026 and December 31, 2025, the aggregate refund liability in current regulatory liabilities was $1 million and $7 million, respectively, and included interest of less than $1 million and $2 million, respectively. See Note 5 for a summary of our authorized ROE, which is composed of our base ROE and incentive adders for transmission rates.

We are involved in certain legal proceedings before various courts, governmental agencies and mediation panels concerning matters arising in the ordinary course of business. These may include proceedings such as contract disputes, eminent domain and vegetation management activities, regulatory matters and pending judicial matters. We cannot predict the final disposition of such proceedings. We regularly review legal matters and record provisions for claims that are considered reasonably estimable and probable of loss.

Two complaints, the Initial Complaint in 2013 and the Second Complaint in 2015, were filed with the FERC by combinations of consumer advocates, consumer groups, municipal parties and other parties challenging the base ROE in MISO. The complaints were filed under Section 206 of the Federal Power Act requesting that the FERC find the MISO regional base ROE for all MISO TOs, including our MISO Regulated Operating Subsidiaries, to no longer be just and reasonable.

The complainants sought a FERC order to reduce the base ROE used in the formula transmission rates for our MISO Regulated Operating Subsidiaries, reduce the equity component of our capital structure and terminate the ROE adders approved for certain MISO Regulated Operating Subsidiaries.

After years of litigation, a series of FERC orders, and an opinion by the D.C. Circuit Court vacating those orders, the FERC issued an order on October 17, 2024, finding that the base ROE for the Initial Complaint should be 9.98% for all MISO TOs, including our MISO Regulated Operating Subsidiaries, and the top of the range of reasonableness for that period should be 12.58%. The FERC determined that this base ROE should apply during the first refund period of November 12, 2013 to February 11, 2015 and from September 28, 2016 prospectively. The FERC also reaffirmed its previous finding that no refunds would be ordered on the Second Complaint. MISO and the MISO TOs requested an extension of the refund resettlement period until July 31, 2026, which was approved by the FERC on April 2, 2026. Certain MISO TOs, including us, as well as other interested parties, have sought review of FERC’s decision in the D.C. Circuit Court. Those appeals remain pending, and we cannot predict their outcome.

During the three months ended March 31, 2026 and 2025, we made refund payments of $7 million and $6 million, respectively, in accordance with the refund provisions of the order. As of March 31, 2026 and December 31, 2025, the aggregate refund liability in current regulatory liabilities was $1 million and $7 million, respectively, and included interest of less than $1 million and $2 million, respectively.