David Hutchens: Yes, that’s a great question, Linda. Thanks. And I’m going to turn that over to Janine Sullivan, our CEO of FortisAlberta to provide some color on the PBR and any other questions you have related to Alberta.
Janine Sullivan: Good morning, Linda, and thanks for that question. As you know, we’ve been working through the process to come to this conclusion on PBR 3.0 for some time. And many of the issues that we were contemplating in the process, we were prepared for and filed evidence on. So we’ve been planning for and thinking about how we would adjust or accommodate some of the findings in this decision for some time. And they — the findings were in keeping with where we kind of expected things to go. I will say that we are kind of reconsidering the capital portion of the decision where they are promising future funding on historical additions, it really doesn’t consider what was approved for 2023 when we rebased under cost of service and it does include years, of course, that were impacted by the pandemic.
So looking forward, we see a need for additional capital. Now there are provisions in that plan that allow us to go forward and ask for that capital. So that’s helpful. But we are thinking about that particular element. With respect to the efficiencies, in particular, there have — there has been a lot of conversation because of the affordability narratives in Alberta about the need for identifying efficiencies for customers, and we’re very committed to that. And we continue to evaluate all opportunities to deliver those for customers in our day-to-day operations, and we’ll actually have to report on them to the commission in future periods as part of the PBR plan. So yes, being a third term, it obviously requires us to look deeper into our organization for efficiencies, but that’s what we do.
And we were prepared for that expectation, as I said, given the narrative around affordability and given the discussion on the PBR proceedings.
Linda Ezergailis: And just as a follow-up, bigger picture, the Alberta government’s focus on customer affordability. Where do you see the levers being most likely in order to achieve that? Like do you think there’s anything really material that can be done on the like distribution wire side or transmission wire. Do you see that more coming from other parts of the bill like generation or other components?
Janine Sullivan: I will share with you that in Alberta right now, there is a very detailed process going on, led at the provincial government level around all issues related to bills and they are taking a very fulsome approach to understanding exactly what’s driving the affordability concerns. And I will say that all things are on the table with the government right now. With respect to distribution, in particular, we work with them on I guess, opportunities to assist customers in managing the affordability concerns. So things like DSM, Demand-Side Management and energy efficiency programming, which hasn’t been clearly defined in Alberta. We believe that as the front-facing customer utility service, we should be the one delivering those types of programs. So we are working with them to advance that type of programming and the role the utility plays in that. And that’s one space in particular, where we think we can assist customers.
David Hutchens: Linda, I’d add my own, I suppose, personal opinion, I guess, is that of all the components of the bills in Alberta, the distribution one is the last one to focus on from the position of cost reduction and efficiencies because that’s not the part of the bill that’s growing or as volatile as the other couple of parts of the bills — that’s — I think we’re not in the bull’s eye on this conversation, although it is — they are casting a wide net to makes a couple of metaphors there for you.
Operator: [Operator Instructions]. Your next question comes from the line of Dariusz Lozny from Bank of America.
