“We plan to invest $7.4 billion in 2024 and a total of $34.5 billion over the next four years, an increase of $3.2 billion or over 10% from the prior planning period.”

In context

“erm guidance reflects a $1.25 billion reduction in ComEd distribution capital expenditures over the three-year period spanning 2024 to 2026 relative to our Q4 2022 disclosure update. This updated investment outlook for ComEd distribution business includes reductions agreed to with stakeholders, leading up to last October's per quarter. Along with additional reductions to result in a plan that further balances priorities across our stakeholders. As I will discuss later, around our long-term outlook, our guidance has accounted for the possibility that substantially more capital is removed from the plan as a result of the process, despite significant broad-reaching support for our investment strategy. On Slide 10, we provide our updated outlook for CapEx and rate base, covering 2024 to 2027. We plan to invest $7.4 billion in 2024 and a total of $34.5 billion over the next four years, an increase of $3.2 billion or over 10% from the prior planning period. So we reduced ComEd's distribution capital plan by over 18% in response to the final order, the multi-decade energy transformation continues to gain momentum, and we see no shortage of needs to invest for our customers across all of our service territories and an ability to do so at a reasonable cost. We are the largest transmission and distribution utility in the country by customer count, and we have the privilege and responsibility to serve many major densely populated areas. We operate six utilities across seven jurisdictions, including FERC. And beyond our industry-leading size and scale, we are also one of the best operators in this sector, providing a world-class customer experience for reliability at very competitive rates. Given the power of this platform, our updated four-year c”