Unidentified Analyst: So if I look at next year, you would expect the gross margin to be roughly comparable in terms of how it’s calculated or the differential to the hedge price as it is this year?
Daniel Cregg: No, we’ll give you guidance next year for next year’s results as we head in there. But I think next year, you’re also going to have a situation where you’ll have PTCs in place that will change things. So it’s a more complicated structure that we can talk through as we go forward and to give next year’s guidance.
Operator: I would now like to turn the floor back over to Mr. LaRossa for closing comments.
Ralph LaRossa: Thank you. So I would just leave everyone with this. For the — as we kind of put this new management team in place and talked about things, we said we weren’t going to change much. We were going to continue our strategy. But I think this quarter kind of reinforced a lot of things that we’ve been telling you over the first 6 months here. Alignment with public policy, especially in the state of New Jersey is really important and the great work from the workforce that we have and our alignment with them on a regular basis. And the reason for that is that we were able to execute the way we did. 3 big wins, I’d say this quarter, our exit from offshore wind done in a way that really, I would say, we’re very, very proud of.
We entered. We took a hard look at that opportunity, and we exited in a way that both — we were able to keep our heads up financially, policy-wise and with our — with the labor workforce in the state of New Jersey as we did that. Second, we stayed aligned with public policy on our energy efficiency filing and took a good step forward. But as a result of that, we’ll really be able to take some advantage of some new orders that came out from the Board that we just talked about. So again, really aligned with policy and a workforce that can deliver on that. Third piece was what we just talked about on the pension execution and the work that was done there. And again, I just want to reinforce how happy we are that we were able to accomplish all the things that we set out to accomplish through some great, great teamwork from a number of folks here on our team.
And then I don’t want to lose sight of the heat storm that we just had here in New Jersey. And the work that was done, again, by — if I had a number of folks that have stepped up time and time again, whether it’s our appliance service technicians out fixing air conditioners that have gone bad to our overhead line workers, making sure that the pole-top transformers are back in service and the underground folks making sure the networks here in Newark and other cities are up and running and the call takers answering any questions customers might have as far as timing of restoration for the few that did go out of power. It was just great work and really was seamless. And I — it did identify some additional opportunities for us in that last mile, which we’re going to learn from and continue to put into our plans, but I can’t say enough about execution on that — on the heat storm, but execution across the board on all the things that we’ve accomplished in the last quarter.
So I appreciate you all calling in, listening and we’ll continue to build your confidence as we move forward through the remainder of ’23. Thanks, and talk to you next quarter.
Operator: Ladies and gentlemen, this concludes today’s teleconference. You may disconnect your lines at this time, and thank you for your participation.
