Anthony Crowdell: Hey. Good morning. Just hopefully two quick questions on – one on Slide 25, and I am not trying to run your rate case decisions in the jurisdictions. But when do you kind of think that we could see like normalized earnings coming from the utilities or maybe we are in a different way? Do you guys have a target of what you think you could earn across the OpCos?
Brian Tierney: Yes. I think we can be earning in that 9.5 to low-10s range in terms of ROEs. And so if you look at this, that’s a significant component of earnings growth is going back in having these rate cases, updating our rate base, getting ROEs higher, getting current costs reflected in rates and adjusting what you can see is lower than normal earned ROEs on that slide.
Anthony Crowdell: I guess you have answered my – sorry.
Brian Tierney: No, it’s the normal stuff that utilities do, Anthony. It’s just the normal work pale that you expect us to do. We invest for the benefit of our customers. We then operate. We then recover and finance. And that’s what we will be doing this part of the presentation is the recover, where we go back in to get our hard work reflected in current rates.
Anthony Crowdell: Okay. And I think that actually answers my second question. I think earlier in one of the slides, I apologize I forgot the number. You guys give us – I appreciate the detailed rate base growth of about 7%. And to Jeremy’s question earlier about the long-term growth rate of earnings of 6% to 8%, I guess how – I was curious if you think there is going to be any lag or spread between the rate base growth and the earnings growth, but it seems that they are aligned because of this improvement in ROE. Am I thinking of that correctly?
Brian Tierney: Yes. So, we are getting ahead of this now, right. We have very active rate cases to get what you reflected on Slide 25, up to more normal levels. And as we do that, we will have some growth associated with that. And then going forward, we said rate base growth for ‘24, ‘25 was going to be about 7%, and we are looking to add to that as we go forward. So, a combination of continued investment growth in rate base, active rate cases for the foreseeable future and continuing to invest for the benefit of our customers, all of that will put us in that 6% to 8% long-term growth rate.
Anthony Crowdell: Great. Thanks so much for taking my questions. I am looking forward to seeing you at EEI.
Brian Tierney: Thanks Anthony, we are too.
Operator: Thank you. Our next question comes from the line of Gregg Orrill with UBS. Please proceed with your question.
Gregg Orrill: Hi Brian. Hi Jon. Just on, Brian, where do you stand in terms of the key management hires that you are looking to do? I know you announced two of them already. Are there more to come there? And then just secondly, how are you thinking about moving beyond the sort of legacy investigations that remain? And do you see concerns with that at this point? Thank you.
Brian Tierney: Thank you, Gregg. I appreciate that. In terms of the key hires, I am spending and our senior executive team here is spending a significant amount of our time recruiting. I feel some of this we need to do sequentially. I need to get a COO in place, President of FE Utilities in place, and I would like those people to help us recruit then the people who are going to be reporting to the President of FE Utilities. And they will be the five people running our major businesses. So, sort of – and by the way, we are not waiting to interview a candidate pool for those five people. We are proceeding ahead on that as well. So sequentially, trying to get the COO, President of FE Utilities, then next the people that run our four businesses and get those people seated as quickly as possible.
