“Even if unmitigated, as Chris noted, we expect to observe the cash impact on our balance sheet with cushion above our downgrade thresholds and we expect to be in our targeted 13% to 40% average range over the planning horizon without a need for incremental equity beyond the previously announced $1 billion commitment from 2022 through 2025.”

In context

“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 priority. Our long-term corporate consolidated credit metric outlook remains strong for both S&P and Moody’s, regardless of the outcome of the corporate minimum tax. If the corporate minimum tax is enacted as written in the Inflation Reduction Act, the exposure tax on balance sheet is approximately $200 million per year as is posted in our August 8-K filing. We are working with the industry and remain optimistic that this impact can be mitigated. Even if unmitigated, as Chris noted, we expect to observe the cash impact on our balance sheet with cushion above our downgrade thresholds and we expect to be in our targeted 13% to 40% average range over the planning horizon without a need for incremental equity beyond the previously announced $1 billion commitment from 2022 through 2025. As a reminder, we issued $575 million in equity in August through a onetime offering and lease the remaining $425 million over the 2023 through 2025 period. Our commitment to a strong balance sheet is a top priority to ensure we can make the investments needed on behalf of our customers. I want to close by reiterating our confidence in investing an estimated $29 billion of capital from 2022 to 2025 driving 68% earnings growth from 2021 to 2025 and a strong balance sheet. This remains the case regardless of whether the corporate minimum tax is mitigated. Thank you. I will now turn the call back to Chris for his closing remarks. Chris Crane: Thanks, Jeanne. Moving to Slide 11. I’d like to emphasize excellence in value proposition and placing the energy delivery industry. The economy is maki”