But whether we see — I know a lot of our peer utilities have announcing incremental investment in capital. While we see a similar opportunity set, we’re going to shape our capital plan based on the returns that we see. As of now, the mechanisms are a little more constructive in Missouri in terms of reducing regulatory lag, so helping you earn your realized return, but we’re going to be working on in Kansas to see if their policy that reflect the objectives of our stakeholders as well as ours that we can move forward on that I think can help to inform the capital plan. So net, we’ll evaluate the capital plan by year-end. We feel good about that 6% annual rate base growth with incremental opportunity is possible, but we’ll be looking pretty hard at capital allocation in light of what we have heard and what we’ve seen in our jurisdictions around what they want to have and what they’d like for us to deliver for them.
Nicholas Campanella: One more follow-up for me, just to triple check, this outlook basically assumed the settlement? And just if anything gets tweaked on December 20, how should we think about that?
David Campbell: Well, we’ll have to update you on the year-end call was the unanimous settlement. So you can never predict certainly, it’s dependent on approval by the commission, but we’re confident in the process, given the — and the hearing around the settlement was involved in constructor dialogue. We’re with the united settlements this plan does reflect an anticipation that it will be approved if it changes, and we’ll obviously have to adjust accordingly if it does. But we think that the fact it was a unanimous settlement and is really delivering on the improvements of regional rate competitiveness that has been such a focus in Kansas, we think that it’s on a good trajectory for approval.
Operator: Thank you. And one moment as we move on to our next question. Our next question is going to come from the line of Julien Dumoulin-Smith with Bank of America. Your line is open. Please go ahead.
Dariusz Lozny: Hey, guys. Good morning. This is Dariusz on for Julian. Thank you for taking the question. Maybe just starting with the updated EPS growth target. Can you comment a little bit about when you roll forward your capital plan in February, that will be out through ’28 and then the EPS target is through ’26. So there seems there’s a little bit of a mismatch there. Can you comment on — maybe do you have somewhat limited visibility into what it looks like beyond 2026 or perhaps why that to your gap there?
David Campbell: You know, Darius. It’s been our historical practice as well. We typically have a three-year forward outlook. I don’t know if there’s any magic to it. I think you can, you know, based on where we are today, our long-term growth rate target is 4% to 6%, but we’ve extended it through 26. But we certainly — that’s really just a matter of practice. We typically have that three-year outlook.
Dariusz Lozny: Okay. Appreciate that. Next one is you made comments about advancing the discussion on some of the mechanisms in Kansas, including the capital structure. Just curious if you could maybe speak about that in a little bit more detail. what might be the venue perhaps for advancing that discussion prospectively? Would that be in a future rate case filing or perhaps another forum?
David Campbell: Yeah, there are several different paths that we can go down on that. So it will be — and especially once the rate case is approved, we’ll get more visibility into it, but there’s — you can work that directly with regulators. You can work that with other stakeholders. What I really emphasize is that I think the rate case and the testimony that was included on the capital structure topic and there was luminous testimony on it, sets the stage for a good discussion, particularly if you look at [indiscernible] direct testimony in our rebuttal testimony, we’ve communicated the importance of competitive equity returns. We’ve communicated and have good evidence to show how it was common and almost universal for utility holding companies to have responsible levels of holdco leverage.
