“Included in our guidance is a more normalized assumption for retail electric sales growth of 0% to 1%, although a continuation of recent trends could deliver upside to that assumption.”

In context

“ies remains robust. For example, the average number of job announcements was 22% higher and business investment in Georgia was 39% higher than average for the years leading up to the pandemic. Macro trends in e-commerce and electric transportation, combined with a diverse well-trained workforce and a low cost of living, have combined to drive major locations and expansions of distribution centers, data centers, manufacturing facilities and headquarters into our service territories. Turning now to our expectations for 2022. Our adjusted earnings guidance for the year is $3.50 to $3.60 per share. The $3.55 midpoint represents a growth rate of approximately 7.5% from the midpoint of our original 2021 guidance range. In the first quarter of 2022, we estimate that we will earn $0.90 per share. Included in our guidance is a more normalized assumption for retail electric sales growth of 0% to 1%, although a continuation of recent trends could deliver upside to that assumption. We continue to see long-term adjusted EPS growth in the range of 5% to 7%, consistent with adjusted earnings in a range of $4 to $4.30 per share in 2024. With 90% of total projected earnings over the five-year planning horizon coming from our state-regulated utilities, our expected EPS trajectory has a solid foundation. Additionally, our history of constructive regulation, strong credit ratings and disciplined O&M spending served to strengthen our outlook. Underlying our long-term adjusted EPS growth rate of 5% to 7% is a robust capital investment plan that continues to be driven by significant investment in our state-regulated businesses. Our base capital investment plan of approximately $41 billion, which excludes the capital required to complete Vogtle Units 3 and 4, supports our 2024”