Operator: Next, we can go to Nick Campanella with Credit Suisse.
Nicholas Campanella: I guess just very clear from the filings that have been made so far on the Kentucky transaction that the parties are committed here and you’re working towards closing and what is somewhat of a tight deadline. Can you just kind of give us a sense how that changes, if your funding strategy changes at all if this deal weren’t to go through and how that would overall kind of change your strategy if it went there.
Julia Sloat: Yes. Nick, I still appreciate the question, and I’ll let Ann jump in here in a second on what our thoughts are on funding. But I have before I do that, I have to say, we’re committed to the transaction. I know you point that out. And I know we do have a tight time line. That’s precisely why I threw that out there in my opening comments. The objective is to, I’ll say, push for the tape because I know we’ve got that April 26 date. But importantly, I need you guys to have this takeaway both the AEP and the Algonquin team members continue to have a regular dialogue and work closely together. So we’re all in and we’ll continue to push to try to do this as expeditiously as possible. But I think we’re also in a good position from a financing perspective. Ann, you want to talk a little bit…
Ann Kelly: Yes, absolutely. So I mean should Kentucky not close, we would expect to keep our equity needs the same. So no new equity if that happens. We’ll just be managing our FFO to debt as tightly as possible and don’t expect any changes.
Nicholas Campanella: Okay. That’s helpful. I appreciate that. And then I guess just I know we talked a lot about deferred fuel, but we noticed that the CFO is slightly depressed in ’23 versus kind of what you outlined at the Analyst Day. And I think you’re making up for that in the back part of the plan. But is that purely just deferred fuel impacts? Or is there something else fundamental there? That would helpful.
Ann Kelly: Yes, there’s really 2 main drivers. Deferred fuel is the biggest piece, but the other piece is we’ve had some return of collateral from a mark-to-market due to the reduction in natural gas and power prices that has impacted that as well.
Operator: Next, we can go to Bill Appicelli with UBS.
Unidentified Analyst: Just going back to the Kentucky sale. I know you said that FERC provided for a 45-day comment period so that was look like it was going to be supportive of maybe an expedited ruling. But will we get further indications from FERC, if they will rule an expedited manner? Or do we just have to wait and see?
Julia Sloat: Yes. So the next gating item for us is March 31. That ends the commentary period, and we’ll just proceed from there. We know the other backdrop for us or backstop for us, as I mentioned in my comments, is the April 26 date. So that’s top of mind for us as well. But here’s where I continue to go in my mind. None of the benefits yet to the customer until we close the transaction. They don’t start in advance. So that’s incredibly important. And I think we’ve got everyone’s attention. And Bill, the other thing that we were particularly sensitive to, and I know Darcy has probably shared this with you, if you’ve called in, in the interim here, but we really made an effort to take the FERC blueprint to make sure that we were accommodating or addressing the concerns that FERC voiced as it relates to taking care of customers and making sure there’s no harm.
