So there was some — we were not a 100 percent certain we could close on the plant. There’s always challenges to that. So it was the — on a risk adjusted basis, it would made the most sense to contractually sell 2023 tons to third parties whereas 2024, that strategy appears today by the market signals today that it will change and will sell less outside and more to ourselves.
Lucas Pipes: What is the forward price for power for this market for 2024 today?
Brent Bilsland: Yes, that’s a proprietary number. So, we’re not disclosing that.
Lucas Pipes: That’s helpful. And just because I tried to look through the 10-K and apologies, if it wasn’t immediately obvious to me, but the contribution of Merom to EBITDA in the fourth quarter, where did that come in?
Brent Bilsland: It was roughly 5 million later. Larry was the exact number?
Larry Martin: It was like $5.5 million for Merom, for the 2022. So, we had like $56.2 million adjusted EBITDA Lucas, and about $5.5 of that was from the power plant.
Lucas Pipes: And then is it possible, thank you very much for this. I’ll do one last one I and turn it over. When I look at your contract book 7.5 million tons for this year, and then I think 2024 through 2027, you have 7.3 million tons. Can you share how much of the 7.5 and the 7.3, respectively, is earmarked for Merom?
Brent Bilsland: Well, again, I think our goal is to take as much coal as possible to merit because we think that converting fuel into electrons is a value-add, right? It should be 9x out of 10 our best market. There were some unique things that happened last year that last year market may have been one out of the 10 for a small window of time. So we chose to take advantage of that. But I think 9x we’ll try to take up to 3 million tons of our 7 million tons of production to Merom. And like I said, forward curves are certainly in support of that today. We have not chosen to sell a lot in the forward curve market as of this moment, about 20% of our production. And the balance, we are currently in a position to sell in the day-ahead market. So we’re still looking at…
Larry Martin: Let me add there. So Lucas, in your question on that table, the 7.5 and the 7.3 and beyond, there’s zero to Merom sales in there. That is all third-party sales to third parties.
Operator: Our next question comes from Kevin Tracey from Oberon Asset Management. Your line is open.
Kevin Tracey: Great. The first one is on the price coal tons, I guess, beyond 2023. In past 10-Ks, you disclosed the price position for the next two years in this latest 10-K, you haven’t put out the price for 2024. But there’s a footnote in your 10-K where you note that the performance obligation related to price tons is $593 million. So, if I use some quick math, I’m coming to the 3.3 million price tons that are beyond 2023 are at an average price of roughly $46 a ton, which is obviously a pretty big step down from what you expect this year. So, I’m hoping you could comment on if that math is right and given natural gas prices are awfully low today, if it’s fair to expect the coal price you received from third parties next year to take a step down?
