CLAIM #23294 · EXC (EXC) · 2023Q2 earnings call · Aug 2, 2023 · due Dec 31, 2023
“But we expect orders for both companies by the end of the year.”
Calvin Butler · CEO
In context
“know, reconciliations of the first time it is being done in Maryland in a multiyear plan. Both staff and OPC and other intervening parties suggested about 90% of our requests. So again, that is proceeding well. So all in all, going well. As Calvin and Jeanne mentioned, we have more hearings at the end of August, early September with the final order expected in mid-December. Calvin Butler: And David, I would just add to that, both plans were built on helping the states meet their environmental and climate goals as well as economic development and job creation opportunities. So the stakeholder process, I don’t want to underrepresent because both companies have been very engaged in that process and meeting with all stakeholders. So again, proceeding, it’s a process that will play itself out. But we expect orders for both companies by the end of the year. David Arcaro: That’s really helpful color. Thanks for all that. And appreciating that there are new commissioners in both states, do you see an opportunity for settling on any issues, partial settlement, full settlement? Or is the expectation and strategy just kind of see this through kind of a fully litigated case more likely? Calvin Butler: No, great question, David. We expect to see them both fully through and recognizing that, as Carim mentioned, first time for the reconciliation process in Maryland. And it’s the next 3 years, we will see it through and let it play out. And for Gil, moving from the formula rate to a 4-year multiyear plan, it’s important that everyone feels that they have had a chance to voice their opinions and that stakeholder process is critical to that. So we do se”
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SEC filings for EXC ↗ · Claim quote is verbatim from the 2023Q2 earnings call.