Michele Harradence: Yes. Greg, it roughly breaks down to about two-third sets that’s reserved for our rate base and then about one-third that is unregulated. And I do have to say and give that to say our Dawn storage hubs across states perform incredibly well through some of these really challenging winter conditions we have seen. And in fact, what we are seeing is a trend towards some really propping things up in the Mid-Continent over the holidays when we saw extreme weather across North America, they were flowing into the Ontario market for certain. They were backstopping things into the Mid-Continent get out towards the Northeast. I mean we have added a lot of flexibility into that storage system. We have invested over $100 million in the last 10 years to increase the ratability and performance out of it.
And it’s absolutely stepping up to do that. We are also seeing longer term contracts being signed up for that in regulated storage and certainly our unregulated storage this year is sold out for 2023.
Greg Ebel: Yes, that’s great. And more, when you get these big swings in weather as well, let’s not forget you got €“ if you move Texas Easter in both directions, now there is a different need where that storage is and how customers drop on that. So, just to be clear, storage contracts are still short, alright. So, storage contracts would be typically 2 years to 5 years. So, when we say they are getting longer, that means they are no longer spot. But still, that’s a great spot for us to be in. So, a good question.
Praneeth Satish: Thanks. Very helpful. And then just switching gears with your leverage now down to 4.5, 4.7. I think it’s the lowest it’s been in a very, very long time. I guess what is the right leverage for your business as you look out over the next few years? And are you going to keep driving that lower, or are you hitting a point where you could potentially pivot more of that free cash flow back to €“ either back into the business or to equity holders? And then just tied to that, how do you think about leverage in the context of ESG recognizing the more oil-weighted asset base?
Vern Yu: Well, you have asked a great question. I think we are quite comfortable where we are in the debt-to-EBITDA range. You have to remember that lots of our assets are highly regulated with highly regulated capital structures. So, there is a limit on how far we can push the debt-to-EBITDA down. But being in the lower half of the range provides us tons of flexibility to allocate capital to all kinds of great stuff, more organic growth, tuck-in M&A, share buybacks and potentially a slightly lower leverage. But I think we are happy where we are at, and we will continue to try to be around this point in the debt-to-EBITDA range.
Greg Ebel: Yes. I think the nice thing, and it’s really important that I think our U.S. investors sometimes miss, and we maybe need to do a better job with the U.S. rating agencies. Again, to Vern’s point, when you got 65% debt required by regulation in the utility and not too dissimilar number on all the gas pipes in Canada, that’s going to, by definition, give us a little larger number. But as Vern says, the way it’s structured now and the way our DCF kind of comes through, you have got $5 billion to $6 billion of investment capacity annually that we can handle with the self-equity financing model and the balance sheet without making any negative change to our balance sheet. That’s a really strong position and goes back to some of the comments about things like tuck-ins as well. So, we are in a good spot right now.
