“In 2024, we expect to be in the range as we enter the next cycle of our BGE and PECO multi-year plan, which allow us to align with stakeholders for the next three-year phase of the clean energy transition.”

In context

“r to date. Like all companies, we face challenges from higher financing costs and inflation, which we are working hard to offset through productivity initiatives, investments in technology and by leveraging our size and scale. Reconciliation processes in 2023 in Maryland and DC will help establish precedent for future cost recovery under the multi-year plan. Lastly, at corporate, we will see increased costs as we continue to refinance our remaining floating rate from the separation as well financing the investment needs of our utilities at the current higher rates. As we do have the utilities, we continue to challenge our corporate center to reduce costs. For all these reasons, 2023 is expected to be below the lower end of the 6% to 8% growth range based on our outlook as of September 30. In 2024, we expect to be in the range as we enter the next cycle of our BGE and PECO multi-year plan, which allow us to align with stakeholders for the next three-year phase of the clean energy transition. PECO is expected to be in its third year of its existing electric distribution rate impacting year-over-year growth. Then with an expected rate case filing for PECO electric in 2025 and the rest of our utilities growing generally in line with the rate base investments, we expect to be above the upper end of the 6% to 8% range in 2025. The combination of growth across these years should put us squarely in the 6% to 8% range on an annualized basis for the 2021 through 2025 planning horizon. You can expect us to initiate 2023 guidance and provide a roll board of CapEx, rate base and financing plans as we normally do on our fourth quarter earnings call. Turning to Slide 10. Exelon remains committed to maintaining a strong balance sheet and a battered credit ratings continue to be a top priori”