“At the same time, interest rates, which are now expected to be higher for even longer, continue to be a partially offsetting factor as our parent company debt gets refinanced at meaningfully higher rates than the securities outstanding today.”

In context

“project continued modest increases in the dividend over our forecast horizon. This should serve to lower our dividend payout ratio into the low to mid-60% range as we balance our equity needs with this very important component of our value proposition. Turning now to our earnings guidance for 2025 and beyond. Our adjusted earnings per share guidance range for 2025 is $4.20 to $4.30 per share. Our adjusted guidance midpoint of $4.25 represents 6% growth from our 2024 adjusted EPS guidance midpoint. Our projected long-term adjusted EPS growth rate guidance is unchanged at 5% to 7% from our 2024 guidance. Clearly, we are seeing strong fundamentals that we expect to support our long-term growth. These growth drivers become increasingly significant in the latter years of our forecast horizon. At the same time, interest rates, which are now expected to be higher for even longer, continue to be a partially offsetting factor as our parent company debt gets refinanced at meaningfully higher rates than the securities outstanding today. That said, we are increasingly encouraged about the strength of our long-term earnings outlook. All else being equal, and assuming the current positive momentum continues, including the potential for a significant portion of the incremental capital opportunities we've highlighted materializing. We believe our long-term adjusted EPS should be near the top of our projected long-term range and assuming this potentially improved trajectory appears sustainable we also could be positioned to rebase our 5% to 7% projected growth trajectory at a higher starting point as early as 2027. Chris, I'll now turn the call back over to you. Chris Womack: Thank you, Dan. We are very excited about the future here at Southern Company. When it comes to the incredible growth we see, our objective is to serve a”