“As a reminder, we expect nearly 100% of our rate base growth will be covered by alternative recovery mechanisms, such as the multi-year plan by the end of our planning period.”

In context

“reconciliation process will also provide our first opportunity to understand how the process will be implemented for any potential cost variances in future multi-year plans. As you can see, next year, we’ll be busy on the regulatory front, but we are excited for the transparency and stability the multi-year plans will continue to provide our customers and stakeholders. Relationships across our jurisdictions will be constructive, and we are working together with our regulators, speeds and communities to support their clean energy and chemical. As Chris noted, this year’s federal legislation only bolsters support for and the affordability of the transformation of our energy economy. The multi-year plans provide a great structure to align on the pace and the progress of that transformation. As a reminder, we expect nearly 100% of our rate base growth will be covered by alternative recovery mechanisms, such as the multi-year plan by the end of our planning period. Moving to Slide 9. As Chris described, we are confident that $29 billion of investments we are making on behalf of our customers will result in expected rate base growth of 8.1% and 16% annualized earnings growth from 2021 through 2025. We have noted that our business model does include some variability in year-over-year earnings growth due to the timing of rate cases, largely driven by Pennsylvania, which generates strong returns that support the continued need to invest for the benefit of our customers. In addition, for 2022 and 2023 at ComEd, we’re exposed to the 30-year treasury rate before making the transition to a more traditionally set return on equity. We’ve attempted to provide investors with additional information on the year-over-year variability with the building blocks of ou”