Joseph Nolan: Sure. Thanks, Nick. I’ll take I’ll take a crack at it and then John can pipe in. Couple of things we’re not — we have no plans of filing a rate case in Connecticut. We actually — the settlement precludes that until 2025. So that would be the earliest, although not required at that point. Our storm cost filing is in very good shape and the filing is imminent at any time, we can make that filing as well. Again, that’s a filing that we need to go through first, a review of it. So it’s — they’ll go through all the documents and make sure that everything is in order so that it’s something that you want to deal with outside of a rate case. We’ll get that behind us, get the amount established, and then that way there it makes for a simpler or less complex rate case. So that’s the current thinking right now. John, if you want to add any color, feel free.
John Moreira: Sure. I mean, it’s — as you can very well appreciate, it’s a sizable amount that we will seek Prudency review. Right now, it’s about $650 million that we’re looking to put in front of PURA. So from a time standpoint, I would imagine that that would take quite some time, probably 10 to 12 months. It’s a lot of information, a lot of due diligence that the regulator has to go through, Nick.
Nicholas Campanella: That’s helpful. And then just one follow up on the assumptions underlying the 5% to 7% EPS CAGR here, like acknowledging that you’re continuing to point to the high end of that range. you do have the ATM outstanding and you haven’t issued a lot of that, and multiples are lower. So I’m just trying to understand, is this like a true mark to market of if the stock price stays where it is, you still see this as an executable 5% to 7% CAGR? Thanks.
Joseph Nolan: Sure, sure. Yes, we do. Yes, we do. I mean, I’m hoping that the market and the whole sector doesn’t stay at this level much longer. Then I’m hoping that things will start to move forward in the right direction for all of us, quite honestly. But yes, when we haven’t issued it any equity, it’s not a mad dash to issue equity. So we will continue to monitor things and be opportunistic as we can.
Nicholas Campanella: Thank you.
Operator: Thank you. Our next question comes from Durgesh Chopra from Evercore. Your line is now open, please go ahead.
Durgesh Chopra: Hey, good morning, team. Thanks for taking my questions. Hey, first, just can you tell us what’s the expected spending on the offshore projects this year? I think you’re targeting roughly $1.5 billion per the Q3 slides.
John Moreira: Yeah. Durgesh, I think we will be — we will come below that significantly. I think you recall that early in the year, we moved $500 million out of 2023 and into 2024 and beyond. And currently we are behind. So when you see our 10-Q, you’re going to see a balance for offshore wind at the end of $930 million of about two and a half. But keep in mind that we got in a little bit over $300 million in mid-October, so which puts — which puts our year to date balance net of the impairment charge at about roughly $2.2 billion, $2.3 billion.
Durgesh Chopra: Okay.
John Moreira: As compared to about a $2 billion dollar balance at the end of the year.
Durgesh Chopra: Got it. Okay. And then just going back to the equity question, just off the remaining amount that you’ve — kind of the $1.2 billion, what’s the — any help you can give us on timing of how you might execute on that equity?
John Moreira: We’ll have to wait and see where valuations are. But it’s not, right now, it’ll be over the next several years to put it in the 2 time to 3 time window time frame.
Durgesh Chopra: Okay. So not this year, right obviously?
John Moreira: No, no.
Durgesh Chopra: Okay. Thanks.
Operator: Thank you. Our next question comes from Jeremy Tonet of J.P. Morgan. Jeremy, your line is now open. Please go ahead.
Jeremy Tonet: Hi, good morning.
Joseph Nolan: Good morning, Jeremy.
Jeremy Tonet: Hi. Just starting off here, coming back to the sales process announcement and realize there are elements that are outside of your hands here. But if we’re thinking about timing here, is this a matter of, like, days, weeks, or months? And are you able to identify any material gating items at this point or other risks around these negotiations? Just trying to get a sense for how the process could unfold at this point.
