“Being slightly below the annualized earnings growth range is in line with the direction we provided on our third quarter call, but we do expect 2023 to be the exception. All other years are expected to grow within the range of 6% to 8%, if not above it.”

In context

“. This is driven by the almost 8% rate base growth from 2022 through 2026, underpinned by deploying $31 billion of capital over 2023 to 2026. That's over $2 billion more than the prior four-year period. As we balance the required progress on the energy transition with customer affordability, we continue to challenge ourselves to deliver maximum customer value at the lowest cost possible. We continue to expect some variability in our growth rates from year-to-year, due to our regulatory calendar, but we have maintained the transparency provided in the third quarter around our path to achieving our CAGR commitment. For 2023, we are initiating our projected operating earnings guidance at $2.30 to $2.42 per share, with the midpoint that implies 5% growth off the midpoint of our 2022 guidance. Being slightly below the annualized earnings growth range is in line with the direction we provided on our third quarter call, but we do expect 2023 to be the exception. All other years are expected to grow within the range of 6% to 8%, if not above it. We remain confident in the earnings power of our business. We expect an annualized dividend of $1.44 per share in 2023, reflecting approximately 7% growth off of our $1.35 dividend per share in 2022. Jeanne will cover more of the specifics of our financial outlook. Moving to Slide 6, I want to spend a moment recognizing last year's accomplishments. Demonstrating the type of stable, predictable performance that our customers and shareholders expect us to deliver. First, we completed the separation from Constellation, which by any measure was a success and execute it in less than a year after our Board's decision to proceed. We did not miss a beat operationally, despite this separation. We invested more capital for the benefit of our customers than ever, while achieving the highest ROE sinc”