Tony Crowdell

on the S&P rating just if you could just give me the numbers. I missed it to the earlier question

the challenges of procuring new gas fired generation. Just anything you could add on the ability to add that generation?

last month ERCOT came out with a new batch study, maybe on how large loads connect. Is that really factor into the hookups or your forecast of ERCOT load

any thought to going out 5 years? Or does the company still plan to keep the outlook limited at 3 years?

On the powered land solution, I'm just wondering what it's between that program and also just maybe a PPA with a customer?

some legislation passed earlier, I think this week, multiyear rate plans, but also maybe removal of OVEC revenues. Just curious the impact for AES Ohio

Curious if you could just talk about maybe percentage increase that you think you'll be asking in that case

Do you time that with CapEx needs, or thoughts of maybe some not an annual program versus a block

Does incremental large-load conversion above your base case reduce the need for equity, or does it accelerate capital intensity and therefore increase equity?

Thinking to your next electric case, you asked for decoupling

Is that the same 8 gigawatts that in fourth quarter slide deck you guys are focused on getting that on by year-end '28

is it just infrastructure investment that's driving that filing or anything else

Does now this additional balance sheet capacity maybe delay future divestitures of the gas business

is it a 5% growth of operating cash flow or it's a 5% improvement that the total operating cash flow growth

Have you quantified what that like optionality is for how much more additional CapEx you could absorb

Are there any key risks that you would highlight to maintaining above the 15%?

On the CVOW installation cadence, you are averaging about two days per turbine on recent installations. What gives you confidence this pace is sustainable

There is a, I guess, proposal in the Senate of maybe eliminating a data center tax benefit or a tax shield going on. Just thoughts if you could comment on that

what is the lag you are assuming in your Virginia and South Carolina jurisdictions

is there a cadence of generation needs that you guys look at in 2 to 3 years, whether it's like a gig a year

Is this making approval of this may be more complicated by introducing a new tariff

a rule of thumb of how long it takes a project to transition from one category to next as it works itself down the chain

what infrastructure does DT need to put in or build to reach their full ramp

Any interest in Vantage looking at opportunity in whether it's PJM or other parts of the country?

just any conversations, any color you could have on DTE's position with the large slate of candidates

where did you end the year on FFO to debt?

Do you know if there's a timing or a deadline on when they -- the commission will get back to the Attorney General?

As Vantage becomes a smaller and smaller portion of the company's earnings mix, any conversation with the agencies of an improved or a lower downgrade threshold?

just is the cadence of spend, if you could just talk about that? And then also, the company previously or historically would file maybe an electric case every maybe 12 to 24 months. Does that stret...

any legislative or regulatory goals or processes you're hoping to accomplish early on in your tenure

do you think it is easier for parties now to come to a settlement? Or do you think with that affordability backdrop

do you think the regulation shifts where not only you have to show that it is no impact to the residential

why the Florida subsidiary not Ohio or Carolina or South Carolina, what made the company lean towards the 20% sale in Florida?

What's a reasonable cushion to assume that that like, you would improve by. And the second question is more so as you've talked about

Just any timing of a decision there or expected time line of the CPUC decision?

At what point or clarity on maybe the pace of settlements give you enough visibility to provide a loss estimate?

if you waited until when they actually matured, it was getting absorbed into the 2026 and '27 guidance

would the Eaton Fire be able to access whatever comes out of this legislative session at the end of September?

if we're still going to use AB 1054 going forward as an anchor for the solution that's going to be required

is there any ideas on the solutions of modifying AB 1054 that you believe are maybe resonating with the policymakers

Slide 20 talks about prudency whether if you found 100% imprudent or 100% prudent. I'm just curious -- is there a middle ground there?

Any update on maybe the timing of getting resolution on the storm cost securitization

it's 85% complete, Revolution. Just if you could talk about what are maybe the critical parts left bringing the project to completion

What's the percentage breakout in rate base in New Hampshire? I think you guys have a decent amount of FERC the rate base there

I think on Wednesday there was a Berkshire Gas decision, that maybe changed some of the rules on the acronym I think is GSEP

the securitization, the public benefit and the storm cost recovery, are those rolled up together in same legislation

It doesn't seem like there's any issue getting craft labor contracts to build all the generation

On the 4.5 gigawatts, I guess, of the additional power equipment, is that incremental to what's on Slide 14

if you had to pick of those options or the options you spoke about, which one is in the lead or which one do you think is more likely

what's the impact to your FFO to debt metric if transferability were to sunset

where did you end the year on an FFO to debt basis? And then thoughts -- and this maybe was the heart of Zimbardo's question

is the actively building category, is that what's currently in the 4% to 6% EPS growth rate and the finalizing advanced discussion is what's not included

Is that a good spread going forward or the adoption of the large load tariff or the additional load, if you expect that to change

When do -- or timing on when I could see that move into the base plan for the company? Is that on like a fourth quarter refresh?

financing that $10 billion to $15 billion a good rule of thumb, 30% to 40% equity or I'm curious what would be a good rule of thumb

Is that creating a bigger opportunity or a unique opportunity for ComEd that may be it's different than the data center thematic

Does the state regulators that you -- the states you operating, does the regulators share that same view

what would cause that to maybe contract or expand as we move out to the forecast period

I wonder if you could help me connect the two dots there

are you guys applying for large load tariffs? Or are they all in place as this growth is hitting the PJM service territory

do you worry that maybe you don't have the equipment to deliver that? Do you quickly call your supply team to make sure we have it

which state that's in the FE footprint do you think is maybe in the leader or going to be one of the first to solve that problem

That something I could bake in post-2025 and maybe carry that through my forecast model

I believe in the current rate case that staff was against maybe an extension of the settlement window, guess, one, is that accurate

if that legislation that you spoke about does happen in the past, do you have the ability to move maybe things that you were looking to collect through the ESP back into the general rate case

What gets you to the lower end or the higher end of that range? Is it valuation? Is it CapEx opportunities

how do you think investors should look at this or judge that every utility has given us a mature opportunities thing

you've seen some recent sales in the country already in service gas assets at attractive multiples. Just is that an avenue the company would pursue

Confidence of converting it to the construction mode

how much of the $5 billion of incremental opportunities is dependent on the approval for the undergrounding plan

Just curious if you had any discussion with them. Just wondering if you think that may be a required big portion of support

Are there any other items that you kind of want to see or don't want to see that would really cause you to think you might want to really volunteer to sign up

any thoughts on if we could see the solutions for AB 1054 combine and morph into also the affordability bills

Is that, you think, helping out the process and maybe showing your sense of urgency to the legislators

I'm wondering if you could share any conversation you've had with Moody's, following the events in Southern California

that may have to be resolved prior to a credit agency action or or I'm really jumping the gun with that

When do you file for approval for the uprates? Is that an additional CapEx opportunity, or is it further out in the five-year plan

I believe the BPU is in a 180-day pause right now coming from the governor's executive order

do you think they're focused on the supplier generation side or the wire side

is it possible that both segments of your business, the wires company and the generation, given the backdrop of affordability and everything else, that they actually both could win

is the state of New Jersey in a net long position on generation? And if so, what's the reserve margin there?

Is that one of the multitude of options that the state could face

What are the factors or timing for when we can maybe move that 20 gigawatts into the 4.5 gigawatts? Do you see a conversion through 2026 or timing of conversion?

do they have comments or preferences? Are they agnostic to the different types of large-load tariff that exist

You hope with the formula rate plan if it -- once it gets passed and enacted that we get a more linear trajectory of earnings longer trajectory of earnings or both?

where did you end the year on an FFO to debt basis? And will you be at 14% to 16% throughout the entire forecast period?

do they have to be located adjacent to the data centers, or can they be located anywhere in PJM?

is there any preference for one region versus the other, given the different structures?

is there a clear preference for new generation that would benefit the partnership? Or are they just like whatever I could sign, I will take whether it is existing or new?

Have you noticed parties may be more rigid or less flexible in these discussions than previously?

Are you trying to highlight that the potential that the regions PPL serves is a candidate for breaking out in the next auction?

in the filing, have you disclosed what the price is for the CCGTs and will that -- if it's not already locked in the price does that -- do you think that becomes an issue on approval of the unit?

how much of that is ESAs?

will we also get 2027 guidance on the fourth quarter call

Does that negative outlook or maybe change the view of maybe pulling forward or the timing of that remainder $2 billion of equity

how will the announcements go or how can we track chipping away at this wood here? Is it on you give quarterly updates

The 5% to 7% growth rate from '24, is that off of '24 actual or off the midpoint of the '24 range?

you talk about the $2.2 billion of cash expected after the plan period. Do you have to do some bridge financing or something to meet the needs through 2030

Slide 10, you talk about $9 billion of CapEx opportunities. And then slide 22, on Texas, you talk about $10 billion of CapEx opportunities

What's the mix of regulated utility earnings to, say, your infrastructure earnings towards the end of your plan

Thoughts of not giving annual guidance further than just two years

I'm curious if this is making earnings forecasting and rate base growth forecasting easier or harder?

really strong residential electric load growth there. I think 5.5%. Just wondering if you go through some of the drivers?

would that mostly be met with gas or a combination of gas and renewables or any type of clarity you can provide on the generation needs

You're still under the insurance cap, I think, $525 million, you've been, I guess, aggressive on working through settlements. Just any color there

Any cadence on the remaining half? Are you looking to take care of it all in '26? Or any color you give on that

curious on the thought process of keeping it 6% to 8% plus

I think you mentioned about $10 billion of incremental CapEx. That is an addition or would be on top of current 9% EPS growth. Is that accurate

you maybe have scheduled maybe one or two plant retirements this year, maybe Comanche. Just thoughts if you go

is a plaintiff claiming the cause of the fire was a UFO hit your wire and the wire fell and caused the fire

is there more of a sense of urgency, with maybe data center customers to hook up? Or do you see it's the same across whatever customers