Jeremy Tonet: That’s very helpful. And just to clarify, when you say new markets opening up, is this regional energy that kind of prime in the [indiscernible] or MVP or others?
Alan Armstrong: Well, there’s really three distinct issues there. Mountain Valley Pipeline certainly, and it’ll be competing. There’s been some confusion out there. I think in the market, we have plenty of capacity to pull all that MountainWest can deliver. It’s just a question of how it’s going to compete with Haynesville gas coming in at Station 85 on the system. And so there – but there’s – it’s just going to be a question of producers competing for those markets. But I will say that market in particularly at south of Station 165, as was demonstrated by a recent open season is going to continue to grow pretty rapidly. And last winter got caught in a very short situation on natural gas. And so we’re going to continue to see the markets in the Carolinas there and Virginia and the Southeast continue to expand.
Mountain Valley Pipeline’s going to be that connection. In addition to that Regional Energy Access is also going to provide new market and that’ll take some time. It’s not going to be a snap your fingers and we’ll see that kind of growth pulled out of that area, but it will open up new markets and new demand. And then finally, as I mentioned, regional loads in the area as well and people taking advantage of low price natural gas, and in fact, the shell big cracker there is just one good example of the industry growth, but as well we’re seeing power generation load to continue to build there as well in the PJM area. So I think really pretty clear examples of market growth for the Northeast.
Jeremy Tonet: Got it. Very helpful. And just one more on gas, if I could. I think in our stakeholder conversations across various states, we’re starting to see gas peakers come back into integrated resource planning that we had not seen in recent years or maybe had fallen out in recent years. And just wondering if you’re seeing this trend as well, particularly as it relates to Transco and its unique positioning? And could this lead to incremental opportunities beyond kind of what’s in the slides today?
Alan Armstrong: Yes. I think as we mentioned, the open season that we had for capacity south of 165 really kind of caught our attention, frankly, and far exceeded our expectations. And so when we say that it exceeded what we had to offer, it was a very large multiple versus what we had to offer there. So yes, we definitely are seeing the signs of people taking advantage of low price natural gas. And importantly, I think this is something that gets missed too often, Jeremy, I know you follow this, but I think sometimes the broader investor base misses this that – what we have to sell is capacity. It doesn’t mean that that’s going to be an annual average increase in volume as much as it does mean that people are absolutely going to have to buy capacity for those peakers and for baseload.
And we actually, I think we’re going to see quite a bit of baseload pick up as well, because the amount of data centers, the amount of electrification load that’s going on is well in excess of what our increasing wind and solar generation can keep up with. And so we’re not only going to see peaking, we’re going to see baseload increase as well. But again, all of that boils down, whether it’s peaking or it’s baseload, people still have to buy the full amount of capacity on our pipeline. And that’s certainly coming through in these open seasons that we’ve been having on – in that area.
Jeremy Tonet: Got it. Right. Makes sense. Coal to gas baseload conversion clearly there, but the peaking needs – I think it seems a bit underappreciated. So very helpful color. Thank you for that.
Alan Armstrong: Thank you.
Operator: Thank you. We’ll go next now to Jean Ann Salisbury at Bernstein.
Jean Ann Salisbury: Hi, good morning. I just wanted to follow-up on the comment that was just made Alan about there being plenty of capacity on Transco and it kind of being a competition between the Haynesville producers and the Appalachian producers. I think that for the open season for the 800,000, that timeline is kind of set for 2027. So is it accurate to say that capacity is there, but sort of needs to be unlocked to be usable over the next few years?
Alan Armstrong: Well, also Jean Ann, you have to realize I think we have six projects along that exist, along that corridor or five along that corridor, excluding Regional Energy Access that are also expansions in that same area that were not dependent on Mountain Valley Pipeline supplies coming into that area. And so there’s a number of projects that and we got them listed there in our materials. So that is – obviously those come on before this latest open season would, but those are increments to serve increasing demand for power generation in the Virginia, North Carolina, South Carolina and Georgia areas.
Jean Ann Salisbury: Okay. But they’re kind of – I guess, maybe my broader question is like, if – like, there need to be projects that Williams does that are kind of negotiated rate incremental contract.
