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Financing:
 3 Months Ended
Mar. 31, 2022
Debt Disclosure [Abstract]  
Financing Financing
Short-term Debt

We had the following Notes payable outstanding in the accompanying Condensed Consolidated Balance Sheets (in thousands) as of:

March 31, 2022December 31, 2021
Balance Outstanding
Letters of Credit (a)
Balance Outstanding
Letters of Credit (a)
Revolving Credit Facility— 16,855 — 27,209 
CP Program341,480 — 420,180 — 
Total Notes payable$341,480 $16,855 $420,180 $27,209 
__________
(a) Letters of credit are off-balance sheet commitments that reduce the borrowing capacity available on our corporate Revolving Credit Facility.

Revolving Credit Facility and CP Program

Our net short-term repayments related to our Revolving Credit Facility and CP Program during the three months ended March 31, 2022 were $79 million. The weighted average interest rate on short-term borrowings related to our Revolving Credit Facility and CP Program at March 31, 2022 was 0.79%.

Debt Covenants

Revolving Credit Facility

Under our Revolving Credit Facility, we are required to maintain a Consolidated Indebtedness to Capitalization Ratio not to exceed 0.65 to 1.00. Subject to applicable cure periods, a violation of any of these covenants would constitute an event of default that entitles the lenders to terminate their remaining commitments and accelerate all principal and interest outstanding.

We were in compliance with our covenants at March 31, 2022 as shown below:

As of March 31, 2022Covenant Requirement
Consolidated Indebtedness to Capitalization Ratio61.0%Less than65%

Wyoming Electric

Covenants within Wyoming Electric's financing agreements require Wyoming Electric to maintain a debt to capitalization ratio of no more than 0.60 to 1.00. As of March 31, 2021, we were in compliance with these financial covenants.

Equity

At-the-Market Equity Offering Program

During the three months ended March 31, 2022, we issued a total of 55,707 shares of common stock under the ATM for proceeds of $3.8 million. During the three months ended March 31, 2021, we did not issue any shares of common stock under the ATM.