Andres Gluski: Well, I’ll say the two elements. One is that we have less gas available to take advantage of that opportunity because we had a step down in our Henry Hub-based gas contracts. The second is, has to do with the spread between Henry Hub plus and TTF. So, those spreads have narrowed. It’s been a very warm winter, especially in Europe. So, we’ll see. So, that’s an opportunity that exists there, but we’re not €“ it would be smaller, smaller quantity. And we’re not counting on it this year because right now, the spreads are not such that between all the transportation and the sharing of the upside with oil traders, et cetera, look particularly attractive, but the option is there, should the situation change.
Steve Coughlin: Yes. So, it’s €“ I mean, it’s largely based on current outlook for the year on the commodities, but to the extent that spread were to increase, that would be an upside to the guidance we’ve given here.
Ryan Levine: Great. And then last question for me. In terms of the asset sale process, to the extent some of these deals don’t happen or get delayed, what tools do you have to alter your financing plan in light of looks like a choppy M&A market.
Andres Gluski: Well, first, we have many assets that we can sell, and it’s not only sell-out, sell-down. So, we have, I think, a lot of levers there. And we don’t like to talk a lot about any specific asset until we have a deal done. It doesn’t help us, but we always also sell-down, for example, some of our renewables because that increases our returns, sell-down a portion of it, we continue to operate them. So, if you have movements, say, in time that a specific asset sale gets delayed and you’re not ready to do another one, that’s where other kinds of financings come in, and we’ll do the one that makes the most sense. But again, as I said before, maintaining our credit metrics and our investment grade, that’s a red line in the .
Ryan Levine: Great. Thank you.
Operator: Our final question is a follow-up question from Angie Storozynski from Seaport. Your line is now open. Please go ahead.
Angie Storozynski: Thank you. Just one thing. So, the 600 megawatts that might slip into 2024, that’s the growth number, right? What would it be adjusted by ownership?
Andres Gluski: There’s two things. I mean, we normally sell-down after the commissioning.
Steve Coughlin: Yes. I mean, so we do have so this is the U.S. number. So, we have our partnership with Alberta Investment Management. And so, I would say, for the most part, it’s about 75% AES is that number. And the €“ up to $0.10 that I mentioned, Angie, is AES’ share. So, that’s not the .
Angie Storozynski: Okay. That’s all I need. Thank you.
Operator: Thank you. As there are no additional questions waiting at this time, I’d like to pass the conference back over to Susan Harcourt for closing remarks.
Susan Harcourt: We thank everybody for joining us on today’s call. As always, the IR team will be available to answer any follow-up questions you may have. Thank you, and have a nice day.
Operator: Ladies and gentlemen, this concludes today’s call. Have a great day ahead. You may now disconnect.
