“We would expect that 1 month to effectively drag into the comparisons that you see in '23 next year because of the month of January of this year.”

In context

“t to clarify the -- some of the adjustments, not looking backward, but maybe looking more forward. The $0.64 in the quarter, I think, includes $0.02 related to that last month of Constellation. So if we look to '23 in the future, would $0.66 essentially be the right base to kind of forecast from other drivers in the future? Joe Nigro: Yes, Steve. Thanks for the question. You're right the way -- I mean if you talking about the performance of the business in the first quarter and removing the impact of discontinued operations, it was $0.66. When you compare that to Q1 for '21, the equivalent number would be $0.64. You're also right, the impact in Q1, because we have to recast the whole quarter, was $0.09. But because we closed the separation February 1, it's in only a 1-month impact in '22. We would expect that 1 month to effectively drag into the comparisons that you see in '23 next year because of the month of January of this year. Steven Fleishman: Okay. Great. And then just the ROE improvement that you're expecting over the course of the year. Is that just kind of the normal rate relief flowing through and things like that? There's no other kind of key new drivers required to get the returns up? Chris Crane: It's a little lumpy. But as the rate cases go through, we expect the improvement to go within our range of 9% to 10%, and we just have to execute on the plan. So 8.9 right now should come up, Joe, within a few quarters, and we'll be within our range of desire. Joe Nigro: That's correct, Chris. We'll be in that 9% to 10% range by year-end, Steve. We infused equity into the utilities in the first quarter. The earnings were up, but they weren't up enough to offset that equity infusion and it just takes some time”