Steve Fleishman

could you maybe give a little more color on kind of what -- a little more on why and what you're assessing

just how confident are you about these requirements being met in the second quarter to move forward with that

is there any more info you can share on each one and the rough investment

Is there like -- is there some type of shaping to that over those periods? Like does it accelerate higher? Or is it just pretty consistently 9% or better those years?

What's -- can you just clarify what the difference is between an LOA and an ESA?

you mentioned something about a partnership with an infrastructure provider. Could you maybe give more color there? And just the turbine orders, like I think those are somewhat new, kind of when do...

Maybe you can give a little more color on kind of that plans there and just how you're looking at kind of protecting the risk on that?

I guess maybe just it would be good to get an update on the West Virginia case

there's these PJM transmission that the joint venture that you have and the like that's being decided the next month or so. Is that that would be upside to the plan

Just how are you feeling about the likelihood to get, you know, into that full gigawatt, or is it too early to kind of say?

Just what kind of color are you getting from your customers on their plans? Is anything changed, good or bad?

how important is it going to be to get -- do you think the consumer groups or at least one of them on board in this settlement?

How are you thinking about that as you get into this next period? And are you going to really focus more on the EBITDA guide or still try and target like an earnings growth?

We do have this first lockup coming up for the Calpine holders the end of June. Any kind of sense on where their heads are at?

Any updates on the time line there? And just what should we be watching for to suggest that maybe it comes on sooner than the 2031 connection?

you've mentioned renewables a couple of times. You did talk again here a little bit about nuclear. Could you just, maybe on those specific topics

In the plan to '29 and outlook that you have, what are you assuming or doing with cash in '28 and '29

How about just like balance sheet targets? Because your EBITDA is going up a lot

There were some stories about a potential delay in the asset sale process by you?

Has your kind of strategy change there? Like are you more willing now to invest in new nuclear?

you mentioned interconnection being kind of maybe a crux issue. Could you just talk to the time line for that specific one

any sense on whether the pricing we've seen is an indicator of pricing

one of the issues that's come up is transferability and whether they keep transferability

Your what the numbers that you have for your region territory within that, they're consistent with what we heard today

Could you give us some sense of the investment opportunity there, both physically and then also in dollars

I assume this growth helps with your customer bills long term? Or should we think about that

how would you kind of think about the -- how much excess do you have left, if at all

if you don't change your capital plan, where would FFO to debt be by, I don't know, end of '26 or '27

You have mentioned in the past potentially looking at something in Indiana. Is there any update on that

just any update on prospects of data center activity in Indiana

more color on the sales growth in Texas, which obviously that's very strong. Just what sectors are driving

could you give us a sense of any timing on the gas LDC sale process and closing

data centers in Indiana. Is there anything to kind of update there

in the last few calls, you've given some data center backlog numbers. Do you have any updated data center backlog numbers

Just maybe you could just frame the options. Is it just seven sixty five or lower and just, you know, scenarios for your capital plan

any update on kind of rating agency views? I know you gave the metrics just when -- are they going to

on the growth forecast that you gave, is there any way to kind of compare what you gave to what you -- to what ERCOT might have used last year

Is that is that something that thus, we would kind of apply to kind of your thinking on the timing of resuming dividend growth

is the PJM transmission that you noted, the open season, is that I assume that is is that in the plan

you were talking about making a decision on kind of nuclear technology preference, maybe by the end of last year. Is there any update on that

there's nothing related to the government shutdown or any political stuff that's affecting the timing

the IRP was interesting on the nuclear, where it looked like at least for now, you actually delayed the SMR new nuclear by 5 years

Can you give us a sense of like cadence there? My recollection is maybe the first set a little slower

Has any electric topics kind of including CVOW kind of been in the political spectrum at all from either side

Should we assume you need to kind of complete the Florida sell-down steps to get to the 15%.

a rough ratio of how much would be funded with equity. Does that change when we kind of look to a refresh

any sense of where the rating agencies are on kind of what the updated impact of these fires might be in ratings?

what are we actually waiting for at this point to decide whether to close or not?

who are the parties in this case at FERC? Is it your state advocates? Is it transmission customers?

it sounds like, as you said, you can implement subject to refund by a certain date. Is there a deadline where they actually have to rule by?

there was, like, nuance on Orsted's call where they had said it was had previously said it would be on by 2026

did you actually give an FFO to debt number target in the answer to the question before

is that before KAYAK or after KAYAK because we don't have rate base to kind of match up to from you

it sounds like there is meaningful earnings that come from the Meta CapEx, even though it is largely in play through '29, the earnings tail a little later

You also mentioned this renewables RFP separate from Meta, the 4.5 gigawatts, of which 2/3 would be owned. Is that in your plan

you went quickly through the changes on the storm recovery, and I guess, particularly the Louisiana. Could you just kind of go through that again

how are you feeling about the EPC and just overall ability to get all these projects done on time and budget

staff came out against it more because they thought you should have had an RFP. Just could you talk to your views

you had the second Mississippi customer that you kind of announced but hadn't been named. Is there any more clarity on that customer

on the sales guide for '25, you took it down a little bit. Just any -- I know it's still really good, but just any explanation

you mentioned legislative activity in Texas and Arkansas to support growth. Could you talk to a little bit more what you’re either seeing

on the credit metrics we've been waiting, I think, for the nuclear PTC piece of it for you all. Is that still not included in your metrics

things that can be done by PJM or transmission owners to deal with the interconnection timeline and get it done quicker

if you did not lower distribution, would that have happened anyway? Is there more coming from the data centers

are we going to get a Maryland lessons learned

curious your take so far under the new governor.

with the move to more transmission continuing, that 9% to 10% earned ROE range

specifically, this is a topic in the Illinois grid plan on large loads. Could you give us and I think they kind of pulled out the capital for that

the new FERC chair Christie was, I think, quoted last week saying you would have more clarity on their policy on the colocation in the near future

any sense of kind of where the final costing kind of ends up on it

we had Shapiro's comments early in the year, then we see unanimous -- pretty much unanimous settlement with PPL still to be approved

the $2,000,000,000 up to $2,000,000,000 kind of the the timing

what do they actually need to approve? In this order

should we assume those are embedded in there already? Or would those be upside to that

Could you just give us an update of kind of where you ended the year on like funded status of the pension

I think, Brian, you just said you're going to respond in 30 days to it. Is there any other schedule to the case at this point

Do you have any data point on the price increase price change in the new contracts versus the old ones?

have anything you could share on milestones and time line to get to a final agreement there?

we've seen a little more noise just on kind of data center fighting opposition or concerns about causing rates to go up

Google announced the acquisition of Intersect, the renewables developer. So I'm curious kind of how does that fit in

can you give us any sense on what the cost of restart might be and also the buy-in price of the 30%

have you started seeing signs from -- what have been the reaction of customers for the bill

the safe harbor start of construction issue and how much OBBB has effectively maybe codified that

a lot of focus these days on IRA, obviously, and changes and specifically on transferability

the battery portion where you're moving a lot domestic, I assume that means you're also getting domestic battery cells

on the GEV framework agreement announcement, could you maybe give a little more color on, would you co-own projects with them

where things stand on IRA risks? Would love any commentary on those topics

on the recent governor letter to utilities in Pennsylvania, how are you interpreting that and what does it mean for your future rate case strategy

How much more time-to-power access in the next few years could you feasibly do? Because that clearly is something customers want. And then, on the 9 gigawatt total, is that some kind of limit

So just the $0.25 to $0.45 because that includes both the current deal plus the strategic negotiations, you don't need more capital to get to that range beyond what you said?

relative to $7 billion, when you look at the incremental equity for your plan, it's relatively modest. So I assume there's stuff structured here that -- that's been able to help minimize equity need

Could you just clarify that you think you can convert this into reality in 2025?

Could you just remind us what process is left from here?

just any kind of broader thoughts from that, because obviously a big uptick in pricing

Could you talk a little more on what you're doing in Ohio and Virginia related there and opportunities for you

subsequent to the Deepseek kind of event, the last few weeks. Did have you seen any change in tone from the customers

on the declination filing, do we have do you know do we know where other parties are on this yet?

Could you just go through the path of deleveraging in terms of just like where are you after year one of closing

are there any of the ones that best met what you want and you think other parties stakeholders as well

whether that actually adds more impetus to address this wildfire law this year or the other way around

we did get this view from the CPUC last week, and I am kind of curious your take on that

with this better visibility from the data centers, you now have kind of line of sight to higher growth

at this point on the cost of capital case, are we just basically waiting for a proposed order

is there any better sense of in these steps, whether those would be made available that we can see

if those were to pass, just your confidence in hitting the growth rate

talk about anything that you see related to what you've been doing in your wildfire mitigation that's kinda relevant

Can you just talk about legislative process and timing and tense of urgency

Is it fair to say that it would be mainly other gas-fueled technologies, or would you even be looking at things like fuel—well, I guess, fuel cells

what were these customers thinking they were going to get their generation from? Just, like, buy it off PJM market

what is the customer savings that you used to give a ratio of how much T&D rates maybe would be saved, customer reductions

how does that compare to what is in the kind of in whatever latest load forecast you gave to PJM?

The 11 gigawatts of publicly announced data centers, could you give us a little more color on the details of that?

AEP talking about a potential partner for their high-voltage transmission opportunities. Maybe I'd be curious if you could comment on whether that would likely be you?

Any sense on when that would actually be a business that could be backlog and just view of likelihood of you getting a fair share of that?

is that just first quarter beating your expectations? Or is there anything you'd specifically point to for raising the midpoint?

I just, like, would just ask, is there anything that you're watching or wary up there? But certainly didn't look like it with the backlog increase you got.

when you talk about the upside to the growth rate, is that within the plan to 2030? Or is it thinking like beyond 2030 or both

you mentioned the 3 gigawatts that are in late stage, highly likely. Just would those impact the current plan

there's been, I think, generally more noise in a lot of states, but also in Georgia on data center siting and zoning

how much are you maybe looking also at asset sales? And I think there have been some stories out about PowerSecure on that regard

could you maybe give us a sense of how kind of the year-by-year rough pace of getting to the 17%, like where do you expect to be in '25, '26

you've talked about the kind of rebates in '27 maybe towards the top end of 5% to 7% going back to, I don't know, '25 and then kind of high end of 5% to 7%

why is '27 kind of a key year for that that might drive it? And is there any way to give any sense of the size of rebasing

I think you recently got approval for a change in the way that you can contract with data centers in Georgia

Is that the key milestone, or are there other things that the rating agencies are looking at

your confidence in moving to California on getting changes to the wildfire liability law this session?

On the Sempra Infrastructure closing, what steps do you still have to achieve to close that?

Could you maybe give a little sense of timeline when we will know the likelihood of that happening

Could you give us some sense of just the shaping of the 2028 to 2030? Is it a little more linear just given that it is driven by the rate base growth and the UTM

how do you feel about being able to kind of time the sale with this kind of obviously rising CapEx at Oncor

Can you just remind us that your plan right now does not include that $12 billion? Or does it include some of it

you mentioned, I think, in the capital recycling potentially getting to the point where you deconsolidate. Just could you talk to how that might impact kind of maybe the metrics and the risk view f...

any sense on timing of moving forward this LOI with KKR? Is this something by the next call

the pending Unified Tracker bill. And maybe you could talk a little bit about how that would interact, if at all, with your rate case

on the last call, you were pretty optimistic on something maybe done this year on the wildfire fund changes

could you give us some sense of where FFO to debt is at the, I guess, 2024 and 2025

could you talk about some of the options you're looking at there for customers

how you're thinking about balance sheet targets beyond '27? And then what you going to do with the cash?

how do you feel about your equipment and EPC capability to meet needs not too far out

why not have you considered maybe a little less hedging kind of than the ratable you've done in the past?

maybe you could talk to how to balance those -- how you're looking at balancing those things?

could you give us a sense of cash available beyond the kind of current buyback commitment?

how would you characterize your views on that today versus maybe the year-end, call a couple months ago

with the Trump administration executive order on coal, any kind of updated thoughts on your coal retirement plans

just the famous Slide 8, can you spend a quick minute just on the noncheck marked items and when we'll have visibility on them

do you expect most of that to be company-owned or some -- will some of this be PPAs

at times you've given kind of some rough idea of the range of spending on the upside cases

the CapEx plan and the rate base growth, it's very heavily front-end loaded and then CapEx actually falls right now, '29, '30

your slides also continue to show that a lot of the damage was already kind of happening from the first ignition

do we need to be concerned at all about kind of federal land issue with respect to your kind of renewable projects

did that - is that number the same as before? Did that go up? And just maybe on that topic, just a little more on the tone of conversations