“From a financing perspective, we expect the $34.5 billion capital plan to be supported by $19 billion of internally generated cash flow. $10 billion of debt at the utilities and $3 billion of debt at the holding company with the balance funded with a modest amount of equity.”

In context

“g an incremental $1.3 billion of equity to ensure we maintain our previous commitment on pushing and keep us on a path to 13% to 14% consolidated credit metrics over time. As our consolidated spend profile has shifted more towards transmission, the cash generated from these longer-dated investments is expected to follow the earnings largely beyond the guidance period and further strengthen our credit metrics over time. Additionally, I'd remind you that our plan continues to incorporate the assumption that the corporate alternative minimum tax will not allow for repairs. If implemented in a way that mitigates the cash impact, we'd expect an increase of approximately 50 basis points to our consolidated credit metrics average on average over the plan, which would provide incremental cushion. From a financing perspective, we expect the $34.5 billion capital plan to be supported by $19 billion of internally generated cash flow. $10 billion of debt at the utilities and $3 billion of debt at the holding company with the balance funded with a modest amount of equity. In the fourth quarter of 2023, we completed $142 million of equity via our ATM and expect $150 million to be issued in 2024. And as mentioned, to fund the robust $3.2 billion of incremental capital opportunities while maintaining a strong balance sheet, our financing plan includes $1.3 billion of additional equity that we expect to issue over the 2025 through 2027 period. The incremental equity funds 40% of the incremental capital investments over the four-year plan and represent slightly more than 1% per year of Exelon current market cap. As we work with our jurisdictions and identify needs for further investment of utilities, we anticipate that any incremental capital investment will be funded by no more than approximately 40% equity. I want to close by reiterating our confidence in inv”