“we project to continue to have 100 basis points to 200 basis points of financial flexibility on average over the plan for our consolidated corporate metrics above the Moody's downgrade threshold of 12% approaching 14% at the end of our guidance period.”

In context

“the energy transformation in the most cost effective way for our customers and our investors. We also continue to execute on our pre-assurance hedging strategy implemented in 2022 to further protect us from interest rate volatility. As it pertains to equity, as a reminder, in our last guidance update, we estimated we would finance 40% of our incremental capital investment with equity, resulting in total equity needs of $2.8 billion over the four-year plan and implying approximately $700 million of equity on an annual basis. For 2025, we successfully de-risked nearly 60% of our annualized needs be our ATM issuing approximately $175 million worth of shares and pricing an additional $250 million under forward agreements for issuance later in the year. As you heard on our last earnings call, we project to continue to have 100 basis points to 200 basis points of financial flexibility on average over the plan for our consolidated corporate metrics above the Moody's downgrade threshold of 12% approaching 14% at the end of our guidance period. We continue to advocate for language that incorporates repairs for calculating the corporate alternative minimum tax and we are encouraged by the recent bipartisan legislation introduced in the U.S. House to advocate for this change, which will lower energy costs for our customers. However, we will remind you that our plan assumes that the final regulations will not allow for repairs, favorably addressing repairs in the minimum tax calculation would result in an increase of approximately 50 basis points to our consolidated metrics on average over the plan. Thank you. I'll now turn the call back to Calvin for his closing remarks. Calvin Butler: Thank you, Jeanne. In closing on Slide 8, I'll reconfirm our focus as we look to add another year of execution to our track record as a premier uti”