Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
ASSETS
UTILITY PLANT, at original cost	$ 711,121	$ 664,927
Plant acquisition adjustments	(9,761)	(9,838)
Accumulated depreciation	(132,934)	(124,082)
Net utility plant	568,426	531,007
OTHER PHYSICAL PROPERTY, net of accumulated depreciation of $573 in 2025 and $536 in 2024	1,500	1,534
CURRENT ASSETS:
Cash and cash equivalents	1	1
Accounts receivable, net of reserves of $1,710 in 2025 and $1,610 in 2024	8,572	7,249
Unbilled revenues	3,833	3,604
Recoverable income taxes	1,054	587
Materials and supplies inventories, at cost	3,361	3,413
Prepaid expenses	1,621	1,597
Total current assets	18,442	16,451
OTHER LONG-TERM ASSETS:
Prepaid pension cost	27,969	25,009
Note receivable	255	255
Deferred regulatory assets	59,297	54,061
Other assets	4,999	5,156
Total other long-term assets	92,520	84,481
Total Assets	680,888	633,473
COMMON STOCKHOLDERS' EQUITY:
Common stock, no par value, authorized 46,500,000 shares, issued and outstanding 14,446,581 shares in 2025 and 14,386,282 shares in 2024	139,952	138,089
Retained earnings	100,395	93,103
Total common stockholders' equity	240,347	231,192
PREFERRED STOCK, authorized 500,000 shares, no shares issued	0	0
LONG-TERM DEBT	221,900	205,561
COMMITMENTS
CURRENT LIABILITIES:
Short-term borrowings	10,000	0
Current portion of long-term debt	330	0
Accounts payable	8,423	9,525
Dividends payable	3,032	2,892
Accrued compensation and benefits	1,879	1,806
Accrued interest	2,490	2,490
Deferred regulatory liabilities	889	864
Other accrued expenses	584	712
Total current liabilities	27,627	18,289
DEFERRED CREDITS:
Customers' advances for construction	22,357	20,546
Deferred income taxes	67,276	61,157
Deferred employee benefits	3,546	3,526
Deferred regulatory liabilities	46,298	43,947
Other deferred credits	479	386
Total deferred credits	139,956	129,562
Contributions in aid of construction	51,058	48,869
Total Stockholders' Equity and Liabilities	$ 680,888	$ 633,473