“BGE’s rate plan will cover electric and gas customer rates from 2024 through 2026 inclusive of a reconciliation on 2021 and 2022 cost from its original multi-year plan filing.”

In context

“Proposed investments expected in the filing support the climate and decarbonization goals of Maryland’s Climate Solutions Now Act. As an example of how we are partnering with key stakeholders in Maryland consider the electric school bus program. The new law created a statewide electric school bus program through which BGE will be able to offer $50 million in incentives to school districts we serve to help cover the incremental cost of purchasing electric buses with a focus on access for low income and minority communities, plus BGE will also be able to call on those new electric fleets to provide grid resilient support through vehicle-to-grid technology. Those types of initiatives are what drive the local economic impact highlighted on the slide, including the support of over 72,000 jobs. BGE’s rate plan will cover electric and gas customer rates from 2024 through 2026 inclusive of a reconciliation on 2021 and 2022 cost from its original multi-year plan filing. Additional details will be available once BGE makes its filing later this month, with a final order expected by December 2023. With Delmarva Power Delaware’s ongoing electric distribution rate case, and Pepco D.C. and Pepco Maryland’s anticipated second multi-year plan filings, you can expect further discussion on these cases on future earnings calls. Turning to Slide 15, with $31 billion of projected capital spend, driving 7.9% rate base growth and with continued focus on earning ROEs of 9% to 10%, we are projecting compounded annual earnings growth of 6% to 8% through 2026 from our 2022 guidance midpoint of $2.25 per share. Maintaining our commitment to transparency from the third quarter earnings call, we have provided year-over-year drivers contributing to the expected annual growth i”