Chris Franklin: Yes. I think the pipeline is strong. We talked about 400,000 customers in our pipeline. So that piece of it is strong, but it’s chunky, and it always has been chunky. In other words, we’ll have a big year than a little slower one at all. There are so many factors, Travis that go into it, everything from local politics to macroeconomics, interest rates, and other drivers. But I would say, the activity, the discussions that we’re having currently are really encouraging, and we’re generally very optimistic about not only the near-term, but the long-term in terms of municipal privatization.
Travis Miller: Okay. Great. Thanks so much. I appreciate the thought.
Operator: The next question comes from Gregg Orrill from UBS. Please go ahead.
Gregg Orrill: Good morning. Thank you. I was just wondering if you could, sort of speak to the stay order on DELCORA review in Pennsylvania, just what’s the process and outlook there? Thanks.
Chris Franklin: Yes. Sure. So, just for clarity, there are two stays that we talk about that are in play here. The one stay is really between, is really regarding the Chester City bankruptcy. Remember, DELCORA serves, the city of Chester. And so in 1973, Chester City basically contributed or sold their assets to DELCORA. And they have reversionary, right? So the €“ currently, the bankruptcy has an automatic stay on the DELCORA proceeding. Now, today, we’re in court with the bankruptcy court, trying to get relief from that automatic stay. So, that’s one stay. Hopefully, we’ll see some reaction from the judge. Usually bankruptcy courts moved pretty quickly. So, who knows that may be a fairly quick answer from the judge there.
The second stay is from the administrative law judge at the Public Utility Commission. And so that stay is based on what the county has €“ the DELCORA has filed in terms of a municipal court case in Delaware County for seeking clarification on two items. Now, at the ALJ stay, we have the ability to file an interlocutory action, which basically asks the five commissioners then to vote to uphold the stay or relieve the stay. And so, we are currently thinking about our options. Clearly, we want to see first how the bankruptcy court goes today, and then we’ll look from there. But those are the two stays that are in place. And I know it’s €“ there’s a lot of moving parts, but that’s hopefully clear to you.
Gregg Orrill: Appreciate it. Thank you.
Operator: And our next question comes from Davis Sunderland from Baird. Please go ahead.
Davis Sunderland: Hey guys. Congrats on a good quarter and thanks for taking my question. Just wanted to ask quickly about your guidance for capital investments increase of an extra $100 million per year. Do we think about this as an acceleration to your previous growth plan or part of it being related to inflationary pressures? And then I guess a follow-up to that would just be anything you’re seeing on supply chain difficulties with investment? Thank you.
Chris Franklin: Do you want to take the supply chain one first, Dan?
Dan Schuller: Sure. Yes. I mean in terms of the supply chain, I would say that throughout the, kind of pandemic and post pending where there have been supply chain constraints, we’ve generally been able to obtain things that we need. Some items, large diameter things, large diameter pipes, larger diameter valves and fittings and such have been more delayed. And so, we’ve had to plan ahead on projects like that. The one place we continue to see some delays is things that are related where we have Microchip so specifically with related to our meters that we’ve got some supply chain constraints there. we’re starting to see that open up a bit. But there have been some challenges, but nothing that we’ve not been able to work through during these last couple of years there.
