“We're obviously not changing our current development -- our current earnings expectations. They remain at 8% plus through 2032 with a target of 8% plus through 2035.”

In context

“Michael Dunne : Thanks, Steve. Mike Dunne here. Let me address those. So as we look, you obviously know that we are continuously revising our forecast internally. And that's one of the things that we do well in providing new forecast 8 to 10x per year. When you look at our S-4, key pieces that you will see, one is that our adjusted EBITDA at Energy Resources is roughly $4 billion higher in 2032 than we had in our December investor conference. The key driver of that $4 billion increase is the performance that we are seeing in our originations on the renewables and storage side is better than what we had anticipated and what we had forecasted in December. Our overall expectations in terms of development is the same development expectations. We have not made material changes to our forecast. One thing you will see is that, as we've talked, FPL has increased its large load expectations from 6 gigawatts to 8 gigawatts. So the key driver of the increased performance is really the returns and earnings profile that we are seeing in our renewables and storage development and our originations as we move forward. And I think, as you mentioned, Steve, people can do the math in terms of what that forecast looks like. We're obviously not changing our current development -- our current earnings expectations. They remain at 8% plus through 2032 with a target of 8% plus through 2035. But we also stand by the projections that those are our best forecast of what this business can achieve at the current time.”