Alex Mortimer: So you mentioned the future financing plans, including both a mix of debt and equity. Can you give us any additional detail on when we might get additional clarity on the timing of equity issuance is? Would it potentially be with the next capital plan update?
Brian Buckham: Yes. We’re working on that right now. In fact, when we’re working through the capital budgeting process and our forecast for 2024, looking at things like our credit ratings. And those are all going to be the factors that we evaluate to determine the timing of that capital markets conditions. We’re watching things like treasury rates that continue to go up and that sort of thing. But remember, we still have quite a bit of headroom on our capital structure compared to what we filed and then our target capital structure of 50:50. So we have ways to go on that. We’re doing things like design of the capital stack going forward, but we’re not at the point where we have anything that we can share on that. We could have that ready towards the beginning of next year as we look at our capital stack and our CapEx plan.
But we’re also looking at things like the timing of our cash collection on our actual spend versus things like power and gas cost impact. So those are the liquidity items that we’re looking at. So that will all impact our mix of debt and equity and the timing of those transactions.
Alex Mortimer: Okay. Understood. And then flipping more back to the rate case. Given the length of time between cases, how frequently you’ve been meeting with regulators in lead up to this case? Maybe phrased a different way, can you speak to the state of your relationship with regulators, staff and other intervening parties given the duration between the cases?
Lisa Grow: We’re very proud of the relationship that we have built over time with the regulators, and we speak to them frequently on a number of issues and really make sure that we don’t surprise them that we keep them appraised to things that are coming up on the horizon. And so we really feel good about having a strong case and an open regulator that is going to work through it with us.
Alex Mortimer: Understood. And then just finally, on the rate case, do you expect any key items of contention as you work through this process?
Lisa Grow: Well, there always is. I don’t know if there’s any in particular that we’re worried about more than others, but there’s always a look at what we spend, why we spend it. And again, we feel very confident that we’ve put case before the commission that really demonstrates this is largely driven by infrastructure that is fueled by growth, so there’s nothing that’s jumping out right now that we have concern. Is there anything, Tim, that you would add?
Tim Tatum: No.
Lisa Grow: Okay.
Alex Mortimer: All right. Thank you so much. And congrats, Justin, and good luck in your new role.
Justin Forsberg: Thanks Alex.
Tim Tatum: Thanks Alex.
Operator: That concludes the question-and-answer session for today. Ms. Grow, I’ll turn the call back over to you.
Lisa Grow: Well, thank you again for everyone joining us this afternoon and for your continued interest in IDACORP, and I will also join in in thanking Justin and wishing him all our best. We certainly will miss having you here, but we are excited to see what happens next for you. So good luck, and I hope I wish you all a good evening. Thank you.
Operator: That does conclude today’s conference call. You may now disconnect.
