Brian Bird: Well, the issue is we’re acquiring Colstrip for zero, obviously, there’s no upfront capital cost. So that is effective in 01/01/26. It’s our intent. Of course, by the time we get to 01/01/26, we want to make sure that we get recovery of our operating costs that will start on 01/01/26. And if there’s any incremental capital from a maintenance perspective, we want to have certainty of that on a going-forward basis. I think the feedback we’ve seen in Montana from the governor, the U.S. — our U.S. representatives and total delegation, the state legislature and even a former commissioner, at least, a tremendous support for Colstrip. And so we feel good about where we sit on this particular issue. And then ultimately, whatever cost we associate with Colstrip on a going-forward basis, high chance of recovery.
Anthony Crowdell: Do you have the option of using Colstrip as a merchant facility to help offset some of the volatility that you’re seeing in the PCCAM, as like a natural hedge that is…
Brian Bird: Well, Anthony, I’d say this. We don’t have to operate as a merchant to offset the volatility in PCCAM. We can operate it as a regulated resource to do that, right? Because we can use that. We sort of calling on the marketplace, we can operate our existing asset. And my biggest complaint about this Colstrip acquisition is we have to wait till 01/01/26 to get. I think another thing I’d just say on PCCAM, I think what Crystal’s done in terms of trying to adjust what’s a proper way to treat the PCCAM and how we should get proper recovery and hopefully, that gets captured in this rate case, that’s going to certainly help us, too.
Anthony Crowdell: Great. And the last one, on the FFO to debt, when do you get to 14%?
Crystal Lail: That’s a great question. And as I said, we’re not giving long-term guidance, but we definitely — the key determinant of driving our FFO improvement is this rate case outcome.
Anthony Crowdell: If the rate case outcome is within expectations, do we hit 14% by year-end?
Crystal Lail: Yes.
Anthony Crowdell: Okay. Thanks so much. I’ll leave it there.
Brian Bird: All right. Thanks, Anthony.
Travis Meyer: Thanks, Anthony. We’ll take our next call from the line of Sophie Karp at KeyBanc.
Sophie Karp: Hi.
Travis Meyer: Hi, Sophie. We can hear you.
Sophie Karp: Hi. Good afternoon. Thanks for taking my questions. So my first question is on the IRP, which you, I guess, slightly delayed the filing of it, and you alluded in your prepared remarks that you’re evaluating options given the IRA and the Colstrip. Just was curious to kind of maybe if you could discuss what those new options are that you’re seeing given the new reality under the IRA framework and your acquisition or transfer of ownership of Colstrip?
Brian Bird: I think really, the three things that come to mind on there is, there’s new capacity accreditation associated with RAP we have to take into consideration. Obviously, having Colstrip in the mix impacts the amount of capacity that we need and the type of resources potentially. And then lastly, just thinking about what the cost resources would be, IRA is one factor, but obviously, we’ve seen increased inflation and other things, supply chain issues impact costs in other way. So just trying to consider those things into the mix. And it’s requiring us to do quite a bit of work to change and update this. And Sophie, it’s too soon for us to tell you what we expect to see from a change perspective, the resource plan will be out here in about a month and half.
