“earning a consolidated ROE of 9% to 10%, maintaining a strong balance sheet and reported earnings within our guidance range of $2.64 to $2.74 per share.”

In context

“e focus on forward-looking recovery mechanisms because it allows us to collaboratively determine where best to invest their dollar and do it efficiently. In fact, over the last five years, over 98% of the net profits we earn at our utilities, all of which are established and reviewed through rigorous regulatory proceedings, we have been reinvested back into the business for our customers. And for every $1 million of capital investment we make at our utilities, it supports eight jobs or $1.6 million in economic output. So customer affordability continues to be a big part of our focus this year, which complements our efforts to drive economic development to further benefit our jurisdictions. And of course, as always, you can count on our continued discipline in executing our financial plan, earning a consolidated ROE of 9% to 10%, maintaining a strong balance sheet and reported earnings within our guidance range of $2.64 to $2.74 per share. We look forward to making 2025 our 25th anniversary of Exelon, another year where you can count on us to deliver consistent growth and long-term value. Lateef, we can now open it up for any questions. Operator: [Operator Instructions]. Our first question comes from the line of Nick Campanella of Barclays. Please go ahead, Nick. Calvin Butler: Good morning, Nick. Jeanne Jones: Hey, Nick. Nick Campanella: Hey, good morning, everyone. Hope everyone's well. So I guess, just you have this new Maryland legislation that's out there. It does prohibit reconciliations after Jan 1, 2025. And I'm just wondering if you can maybe kind of talk about how you think that could impact the outcomes in the BGE or the Pepco reconciliations. And if an order were to kind of go against you there, is the guidance”