Shah Pourreza: Hey, guys. Good morning.
Steve Rasche: Hey, Shah.
Shah Pourreza: Just real quick, just maybe shifting to the 5% to 7% CAGR. Obviously, look, the rate case is kind of behind you guys. You guys are growing the transportation and storage segment. There’s some pushes and takes. There’s, obviously, some macro pressures. I guess how do we think about the profile of the 5% to 7%? Should we assume kind of the midpoint of the CAGR, so something more linear as we’re modeling forward? Or are there just some items that may impact the shape of the growth in the near term?
Steve Rasche: Hi, Shah. This is Steve. Thanks for the question. Yes, hopefully, the base for our growth is clear, not with everybody, after all the discussions . And as much as we would love to be able to claim absolute linear growth, I think that would be pollyannish given our scale and our jurisdictions. We strive mightily to tap on growth year-over-year. But as you know, the regulatory compact does create some variances year-over-year. We’re dealing with high commodity costs this year. Not sure whether we’re going to deal with that year, so that create some ripples. And who knows what other things will be in our sites going forward, including inflation. I think we’ve got a plan to address all of those. So, I think we are very comfortable that the drivers of our growth are — and begin with as they should, our Gas Utility business rate base growth of 7% to 8%.
And we’re lock stock on, as Steve mentioned, our capital plan for this year and our 10-year plan, which should give you and the investors a lot of comfort in our ability to grow the business. There are clearly always going to be pluses and minuses around the edges. There’s the stuff we have to deal with every day and we’ll do the best we can. And the only thing that is certain is we will continue to inform you and the market of what those pushes and pulls are, so you can fully understand how we’re driving the business.
Shah Pourreza: Perfect. And then — yes, and I’ll echo your comments that growing off the ’23 original midpoint is very well received, and obviously, very constructive. So, kudos there. Just on the STL Pipeline, while FERC has, obviously, given you a permanent operating certificate, looks as though EDF may try to take the matter to the circuit courts. Do you anticipate any kind of protracted legal battles in appeals court? Or is there a reason to believe the matter could soon be finished once and for all? Just a little bit of an update there. Thanks.
Mark Darrell: Good morning, Shah. This is Mark Darrell, Chief Legal Officer. At this point, EDF has just asked for rehearing at the FERC. So, I think I would just wait and see what EDF or what the FERC ultimately does with EDF’s petition for rehearing, and then we’ll see what EDF does after that. I don’t know, I can’t predict at this point whether there would be litigation in the court of appeals yet or not, we just don’t know.
Steve Lindsey: And this is Steve Lindsey. Just on the operation, I would go back and reiterate value of the pipeline. We’ve now gone through multiple winters. We just saw with this recent winter event, we were able to deliver both reliable services as well as excess commodity that we didn’t have years ago on the eastern side of the state. So, I think anything that goes or extends, we continue to have more evidence of the value of this pipeline for the customers on the east side of Missouri.
Shah Pourreza: Perfect. Thanks guys. Congrats on the execution. Very good. Thank you.
Suzanne Sitherwood: Thank you.
Steve Rasche: Thank you, Shah.
Operator: This concludes our question-and-answer session. I would like turn the conference back over to Scott Dudley for any closing remarks.
Scott Dudley: Thank you all for joining us. We’ll be around the rest of the day for any follow ups. Take care, stay warm.
Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.
