“In addition to other credit-supported internal levers, these instruments provide a more efficient means of building additional financial flexibility while ensuring we deliver at the midpoint or better of our 5% to 7% annualized earning growth rate range through 2028.”

In context

“cash impact, we would expect an increase of approximately fifty basis points to our consolidated metrics on average over the plan. From a financing perspective, we expect the $38 billion capital plan to be supported by $20 billion of internally generated cash flow, $12 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. Specifically, we expect 40% of our incremental capital will be funded with equity, bringing our total equity needs to $2.8 billion over the four-year plan. Implying approximately $700 million of equity per year. Jean: Our financial plan has also been designed to accommodate the use of other fixed concert securities that receive equity credit in place of senior debt at our holding company. In addition to other credit-supported internal levers, these instruments provide a more efficient means of building additional financial flexibility while ensuring we deliver at the midpoint or better of our 5% to 7% annualized earning growth rate range through 2028. I want to close by reiterating our confidence not only in the plan we have laid out but in the broader opportunity we have to deliver value for our customers and our shareholders. Not just now, but in the decades to come. Thank you. I will now turn the call back to Calvin for his closing remarks. Calvin Butler: Thank you, Jean. I will review our focus areas in 2025 before stepping back and reminding you what makes Exelon Corporation unique. As a key partner in our jurisdictions, as an employer, and as an investment. As I mentioned when I started the call, this business has always been about our customers. It was when Rembrandt Peale lit the first gas lamp in the streets of Baltimore in 1816. Ultimately, incorporating what became BGE, our nation's first gas company. It was when Exelon Corp”