And we think 50% of those are sustainable into 2024. And we also highlighted on our drivers schedule that we will continue to look for cost savings ideas, part of the continuous improvement structure. That’s what we’re talking about on Slide 10. So, we believe we have various elements in place to continue to drive O&M lower. We think ’24 will be lower than ’23, and that’s just part of our conviction to continue to drive productivity and efficiency in our operations.
Operator: The next question is from the line of Durgesh Chopra with Evercore. Your line is now open.
Durgesh Chopra: All my questions have been answered. I just had a — all my questions have been answered. Just a quick clarification, Lynn, I think in response to the first question, you mentioned 30% to 50%. I believe you were referring to the equity content of any incremental CapEx. Could you just clarify if that — if my understanding is correct there?
Lynn Good: That’s correct, Durgesh. It was in response to what does balanced mean. And so that’s the range to think about. And of course, we’ll bring a concrete financing plan and capital plan in February that will lay this out more clearly. But as we think about all of the tools and levers and cash flow opportunities that we have across all of our business, that is the range I would consider for incremental equity matched with incremental capital for growth.
Operator: Next question is from the line of Carly Davenport with Goldman Sachs. Your line is now open.
John Miller: You’ve got John Miller on for Carly. Maybe just to start with the North Carolina resource plan, just curious if there’s any areas where you expect, if any, to get some pushback? Obviously, a healthy chunk of renewables in there with the wind and solar, but also a share of natural gas as well. So curious if you’re expecting the focus on reliability with that to outweigh any ESG concerns with the natural gas?
Lynn Good: John, I appreciate that question. And I’d start by saying these integrated resource plans are informed by a very robust stakeholder process. And as you imagine pulling stakeholders together, there are different points of view across the spectrum from renewables to batteries to natural gas to nuclear some pro, some con. But we believe what we’ve put forward is a very balanced all of the above strategy that provides the right balance between reliability, affordability and increasingly clean, which is our commitment to the state. So, we think all of those elements will be closely reviewed and evaluated as part of the process in front of the commission. And we believe we’ll work through this in a very constructive way, consistent with the way we’ve moved forward in the previous plans, and we’ll keep you posted every step of the way.
John Miller: Got it. That’s helpful. And then maybe just one follow-up to the O&M discussion. I know that of the business agility savings will come in 4Q, but as we are now in the year at November. Just curious if you have any indications of where you’re trending towards that target of 50% being sustainable.
Lynn Good: We’re going to make 50% sustainable.
Brian Savoy: That’s right. Yes. We’re there, John. We have line of sight to the Q4 efforts because a lot of it was tied to the fall outage season as well as just a culmination of work that takes a couple of months to implement, and we’ve evaluated the ability to keep those going on for 2024 and beyond, and we’ve confirmed that.
Operator: Thank you for your question. There are no additional questions waiting at this time. So, I’ll pass the call back to Lynn Good for any closing remarks.
Lynn Good: Well, thank you all. Appreciate your engagement today investment at Duke, and we’re looking forward to seeing all of you at EEI. So, we’ll continue the conversation then. And of course, IR and Brian and I are always available. So thanks so much.
Operator: That concludes the conference call. Thank you for your participation. You may now disconnect your lines.
