Operator: We will get our last question from Ben Pham with BMO. Your line is open.
Ben Pham: Hi. Good morning. Thanks. Going back to the Mainline, I was wondering if you do you go to cost of service or your following cost of service, how long does it take to head that through the regulatory process?
Greg Ebel: Colin, I will leave that to you. I know we €“ it’s less short than the negotiations. I can tell you that.
Colin Gruending: Yes. That’s right, Ben. And I think we have got some gas charts on some standing IR presentations where we have compared to contrast process and timeline. I would refer you to those. But yes, generally, we would file a cost of service €“ and by the way, the application is ready to go here. So, if we need to pivot, we can quickly. But it is a longer process. It would take into probably late 2024, I think probably to get clarity on that. So, yes, it’s another thing to consider in the mix of our alternative.
Ben Pham: Okay. And then maybe a follow-up on that say, in your prepared remarks, you mentioned hypothetically cost of service, move more towards utilities, de-risk cash flows. Is there maybe €“ if that does happen, do you think it’s warranted to move to an earnings per share guidance metric? And do you think that you can actually potentially take on a bit more leverage from a credit rating standpoint?
Greg Ebel: Well, I think look, I don’t see the leverage piece being in that calculation. Yes, maybe on the EPS, something we will give some thought to look, I am very focused on €“ the team is focused on delivering our cash earnings, right. It’s all about cash all the time, and it should be. And so we really haven’t crossed that route upon. Let’s continue to see the negotiations move forward. As Colin said, we are ready to go on cost of service and you are exactly right. That makes it even more utility like. So, either is possible, but we are not going to cross the EPS comment today.
Ben Pham: Okay. Got it. And then maybe one last one. Offshore wind markets have seen significant dislocation. Do you think it’s better to buy offshore wind assets now than build just with the CapEx risk that you are €“ that the industry is seeing?
Greg Ebel: Well, Matthew is sitting here, happy that he is getting the questions. So, I’ll turn it over to him.
Matthew Akman: Thanks Ben for the question. We are really happy with our offshore wind position right now. There is a lot of moving parts over there right now in terms of €“ I think some of the players are €“ there is a little bit of a dose of reality coming in with some of the inflation impacts and timelines. We are in a great position because we have got the project we just brought into service. We have got two others in service. And then we have got a couple under construction that it’s never easy, but are going quite well now also. And then some in development that are advancing nicely and also have contracts attached to them. So, we are not rushing into acquisitions in the offshore space, but it’s something been that we always watch and certainly, opportunistically, we would look at that. But right now, we are really happy with the position we have there.
Ben Pham: Okay. Great. Thank you.
Operator: And ladies and gentlemen, this concludes the question-and-answer session. I will now turn the call over to Rebecca Morley for final remarks.
Rebecca Morley: Great. Thank you and we appreciate your ongoing interest in Enbridge. As always, our Investor Relations team is available following the call for any additional questions that you may have. Once again, thank you and have a great day.
Operator: Thank you, ladies and gentlemen. We appreciate your participation. This concludes today’s conference. You may now disconnect.
