Income Taxes |
3 Months Ended |
|---|---|
Mar. 31, 2026 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | Income Taxes The Company's effective tax rate was 6.3% and 12.9% for the three months ended March 31, 2026 and 2025. These rates differ from the federal statutory rate of 21% primarily due to the impact of production tax credits (PTCs) associated with the energy generation of our wind and solar assets, partially offset by the impact of state taxes. The decrease in our effective tax rate from 2025 was primarily driven by an increase in PTCs from our wind generation assets. We recently completed wind repowering projects at certain of our wind facilities. Upon completion of the repowering at each facility, the ten-year period of earning PTCs from the output of the facility commences. PTCs are credited to customers and result in a reduction of operating revenue as well as income taxes.
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