Steve Fleishman: Okay, great, thanks. I’ll, I’ll leave it to others for questions. Thank you.
ChrisFoster: Thanks, Steve.
Dave Lesar: Thanks, Steve.
Operator: Please standby for the next question. The next question comes from Julien Dumoulin-Smith with Bank of America. Your line is open.
Julien Dumoulin-Smith: Hi, good morning and congratulations, guys, well done. Jason, good morning.
Dave Lesar: Good morning.
Julien Dumoulin-Smith: Yes, absolutely. Alrighty. Just wanted to pivot back to that last question a little bit. I mean, you know, incremental resiliency spending through some of these filings in Texas seems like a pretty clear opportunity. I know it’s preliminary. Can you elaborate a little bit more about that upside relative to the $2.6 billion you guys have articulated earlier? I, I get that there’s kind of a, a quote big opportunity. But just a sense of, of what you guys are seeing out there and the and the sum out there are really putting on some big numbers. And then relate it if you can, how does that timeline square up with the Texas electric case here, if at all, to the extent to which that, that drove some of that timeline consideration.
And then maybe lastly I’ll throw in this, it’s just related; how do you think about the merits of further LDC asset sales versus ATM, considering this upside in the plan, you know, tied to resiliency or, or what have you. Again, I, I get that, you know, that the, the modest size of ATM is sort of tied to the modest CapEx increase. But as you think about these, these bigger chunkier increases, is that still on the table or is it little bit in the backburner considering the backdrop today.
ChrisFoster: Yes, thanks Julien. There’s a, a lot to unpack there. You know, on the CapEx side of things. Let, let me just say, you know, last quarter we had talked about pipeline of opportunities of $2.6 billion outside of the plan, you know, as we’ve gone through our planning process. It is well, well in excess of that. I think those opportunities are in all kind of aspects of our business. I mean, you hit on it. I think the resiliency opportunity here at Houston Electric remains significant. I think it’s a real question around the pace of work and we’re in the middle of preparing that filing that I’ll come back to in a minute, but resiliency is clearly a key driver. But I equally see an incredible amount of opportunities on our gas side as well, particularly given all the growth that we’ve seen here in Texas for our Texas gas business.
So, I would say they’re equally weighted, they’re well in excess of, of the $2.6 billion we used to track. We’re just moving away from tracking that because it becomes confusing, what’s in the plan was out of and how does it adjust quarter-by-quarter, but suffice it to say, it remains a deep pipeline of, of opportunities. With respect to the filing timing, you know, we are waiting for the final set of rules to be voted out by the PUCT, likely in December here. We will then, and we are now currently preparing our filing which will likely be sometime, kind of late in the first quarter for that, that resiliency filings. I think this is a incredible piece of legislation, and we’re excited about proposing plans to really enhance, continued to enhance the resiliency of our Houston Electric business.
And, so more to come there. I think as it relates to the timing of the filing will likely come in maybe a month or two or so before we file the Houston Electric rate case. So it will be a busy regulatory calendar for, for the Houston Electric business next year. But roughly kind of the same time, as I said, end of first-quarter for their resiliency filing a little bit after that for the, the Houston Electric filing. And then sort of more broadly on assets, as look, we, we love the businesses we run. It’s a privilege to serve all of our communities. We constantly receive inbound interest on, you know, all of our assets. And as we think about additional movements increases in our CapEx plan, I think we were in the confidence, we will find the most efficient way to finance that incremental growth.
So I would say, we, we will make the right decision to maximize value for, for all of our stakeholders, as we look to funding this incremental, incremental capital pipeline that I articulated.
Julien Dumoulin-Smith: Got it, excellent. Nicely done. And then just quick clarification. You made an allusion to some CapEx timing shifts in, in Indiana based on the renewable project. Just, what’s the backfill plan, if you can elaborate a little bit more?
ChrisFoster: Well, some of it’s already underway. I mean I think some of the capital that we’ve announced today, you know, we’re executing that capital, putting that capital into service that will allow us then to begin to seek recovery of it next year and fully year in on it in ’25. And so, you know, this, this pattern of looking out in the plan and seek re-sequencing capital has been something that I think we’ve built a track record for. You know, originally, when the Department of Commerce opened up its original investigation, that moved the timing on a handful of our original solar projects. We seamlessly accelerated some capital, particularly here in Houston Electric to offset that. And effectively, that’s what we’re doing today with this CapEx increase.
