CLAIM #23327 · EXC (EXC) · 2023Q3 earnings call · Nov 2, 2023 · due Dec 31, 2028
“So on the transmission projects, like, to give you a sense, we have brand insurers, which was the project we talked about by last quarter, which has an in-service date in the end of 2028.”
David Velazquez · Executive
How to check this claim
Look at: In-service date of the Brandon Shores (referred to as 'brand insurers') transmission project
It came true if: Project achieves in-service status by December 31, 2028
Where: Company-disclosed project status (10-K, transmission project updates, or earnings call commentary)
In context
“t to flow into the spending plan? And also, just as you think about PJM and potential competitive opportunities going forward, are there future opportunities that you plan to bid into also? Calvin Butler: Yes, David. I'll start, but then I'll turn it over to David Velazquez, who's here with me that has our transmission strategy group reporting up to him and working with all the opcos. As I mentioned, I believe our transmission buildout has tremendous opportunity to not only strengthen what we're doing but also lengthen our earnings growth and doing it in a way that ensures not only reliability but the ability to connect renewables to the grid. And David and his team have put together a robust plan, and I'll let him take a moment to walk you through. David Velazquez: So David, this is Dave So on the transmission projects, like, to give you a sense, we have brand insurers, which was the project we talked about by last quarter, which has an in-service date in the end of 2028. So you think about cash flows there, and again, you have to recognize we're in preliminary engineering yet, so this is liable to move a little bit. But I figure typically like in the last couple of years, '27, '28, you spent somewhere around 40% to 50% of that expenditure. And then leading up to it starting next year, you'd slowly ramp into it. In the first 3 years, you'd spend somewhere again between 50% and 60% of the project. And the Dominion, which has an in-service date part of it in '29, part of it is '30, I think you'd see a similar profile where in the last couple of years, you probably see around 40% to 50% of the expenditures and 3 or 4 years leading up to that. So some of this will be within the current period and some of it will be after the current period. And I think on the”
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SEC filings for EXC ↗ · Claim quote is verbatim from the 2023Q3 earnings call.