“For our base capital plan, we currently estimate a range of 1% to 3% of potential cost increases with the top of the range representing the higher end of tariffs that existed for only a few days last month.”

In context

“economic development activity that includes a sizable large load pipeline. Our state-regulated electric utilities continue to experience customer growth and the service territories that we are privileged to serve remain attractive to a wide variety of commercial and industrial customers. Additionally, the reliability and the resilience of our vertically integrated and well-planned grid approving hard to beat and customers especially data center customers are increasingly acknowledging that reality with their enthusiasm for our electric service territories. Before I turn the call over to Dan, we know there is a great deal of interest in tariffs and any potential implications to our business. There's clearly policy uncertainty and in turn, our assessment of tariff implications have varied. For our base capital plan, we currently estimate a range of 1% to 3% of potential cost increases with the top of the range representing the higher end of tariffs that existed for only a few days last month. Among the advantages for our company of our scale as a large portfolio of suppliers and strong vendor relationships to help navigate such challenges collaboratively and proactively. For example, while the majority of materials being sourced from Mexico and Canada qualify for zero tariffs because they comply with the United States, Mexico, Canada agreement or USMCA, the company is working proactively to get any remaining vendors or purchases compliant as well. Our full complement of potential mitigations includes existing project contingencies, contractual provisions, potential regulatory approaches and options to deploy alternative resources. Our commitment to affordability, balanced with our focus on reliability could also influence the pace of our capital deployment to mitigate the impa”