“We generally expect about 150 basis points premium for us to go down the bilateral contract out via Southern Power as compared to our franchise utilities.”

In context

“at you guys see. We have a history of always undershooting, especially our outward year forecast. And on the average, I would say that taken over the five years, we undershoot another $3 billion, just round numbers. So if you look over the entire five-year period and an upside case, may include $3 billion of additional franchise related rate base looking CapEx investments. Whether Southern Power hits its $3 billion or not, remains to be seen about market conditions, supply chain constraints and a variety of other things. We've been very clear in past calls to call out what I think have been challenging market conditions. Shorter terms, we like bilateral contracts, no fuel risk, creditworthy counterparties, et cetera. The contract conditions have gotten tougher. And we're very disciplined. We generally expect about 150 basis points premium for us to go down the bilateral contract out via Southern Power as compared to our franchise utilities. Now whether we're able to duplicate that or not, we'll see. If they don't show up, we won't invest. If you want to include more upside, I would include some portion of that $3-plus billion for Southern Power over the five-year period. I would also kind of tilt those investments towards the back end. One last comment I will make, we said it in the script, but I think it's important. When you look at additional CapEx available outside the five-year period, I think you really do start picking up some of the generation transition kind of capital that may be available. Recall, we will have a high bias towards more gas, more renewables, particularly solar in our region. Dan, do you want to add to that? Dan Tucker: Look, I think you covered it really well. The other thing I'd just reinforce, Jam”