“With our dividend yield at 4.5% and a 5% to 7% annualized earnings growth rate that we have a strong conviction in achieving, we are offering investors total shareholder returns in the 9.5% to 11.5% range and extremely attracted risk-adjusted proposition.”

In context

“rities while continuing to establish our position as a premier T&D utility, and Slide 16 reinforces that value that we offer. Exelon's platform is incredibly unique. We have the privilege and responsibility serving some of the nation's greatest cities with jurisdictions that recognize the unique opportunity they have to lead the energy transformation. Our asset footprint, the transmission and distribution network that is the lifeblood of making that transformation happen for our jurisdictions is unmatched. As is our scale with over 10.5 million customers across our seven ratemaking jurisdictions. We have been setting the bar for operational performance for years and our ability to invest to support that performance is backed by strong forward-looking and predictable regulatory mechanisms. With our dividend yield at 4.5% and a 5% to 7% annualized earnings growth rate that we have a strong conviction in achieving, we are offering investors total shareholder returns in the 9.5% to 11.5% range and extremely attracted risk-adjusted proposition. I am so proud of this team for the commitments made and kept in 2023, and we look forward to doing the same in 2024. As always, thank you for your time and support, and we'll now take your questions. Operator: Thank you. [Operator Instructions] Our first question comes from the line of Shar Pourreza from Guggenheim Partners. Shar Pourreza : Hey guys. Good morning. Calvin Butler : Good morning, Shar. Jeanne Jones : Hey, good morning. Shar Pourreza : Good morning. Calvin, starting with Illinois, I mean the team has had a few months now to digest the order. You're not alone in facing sort of that disorder from the ICC. I mean, both the electric and gas guys have throttled investments and they've laid off workers. I guess what did you guys miss heading into that final order? But really more i”