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Utility Plant
9 Months Ended
Sep. 30, 2025
Property, Plant and Equipment [Abstract]  
Utility Plant Utility Plant
Utility plant as of September 30, 2025 and December 31, 2024 consist of the following (in thousands):
September 30, 2025December 31, 2024
Transmission and distribution plant$356,546 $321,075 
Equipment78,764 67,917 
Office buildings and other structures72,564 67,313 
Construction work-in-progress81,116 54,388 
Land2,897 2,300 
Total utility plant$591,887 $512,993 
Depreciation expense related to depreciable property was $3.5 million and $2.9 million for the three months ended September 30, 2025 and 2024, respectively. Depreciation expense related to depreciable property was $10.0 million and $8.6 million for the nine months ended September 30, 2025 and 2024, respectively.