John Deysher: Okay. And on the TD business, have the investments that you need to make are complete at this point or what’s the delta going to be on the TD business in 2023?
Randy Lay: So in the transmission and distribution businesses, we made the decision that we won’t withdraw from those markets, given the — as Tracy had mentioned, given the focus we focus on those businesses that were core to the company. So the TECO business in Tampa has been wound down, so that was completed pretty recently here. In the past several days, the business in Connecticut with Eversource will be wound down by the end of April. So there will be a substantial, given that both of these businesses were in this startup investment phase. I can’t quote any specific number, but there’ll be a substantial improvement as the startup expenses will obviously be gone as long as overhead expenses. So we would expect a pretty good pickup in the second half of the year against those expenditures that existed in 2022.
John Deysher: So those will all be wound down by March or by June of this year?
Randy Lay: End of April. TECO — to be specific, to be clear, TECO was shut down. So that is gone as of the end of the first quarter, and the business in Connecticut will be substantially wound down by the end of this half.
John Deysher: Okay, good. And chemicals, when will that be wound down?
Randy Lay: We have two projects that are existing, one pure chemical project that is in the final stages of completion and final billing now as we speak. So I’d expect that in the next couple of weeks, that’ll be wound down. And then we have an ongoing project with a municipality that I would expect will be completed in the second half. And that will — and in the meantime, obviously, we’re reducing our overhead expenses and others that might be associated with that business. So I would expect that by the end of Q3, plus/minus a little bit we will be completed and useful.
John Deysher: Okay. So by the end of Q3, most of the wind downs will be complete.
Randy Lay: Correct.
John Deysher: Okay, good. And just roughly speaking, what would you say the combined delta might be once those are wound down?
Randy Lay: Well, certainly — I wouldn’t — Damien, do you want to take a crack at that because I know there are a lot of variables?
Damien Vassall: John, just so I understand the question as far as what the total cost of exiting those businesses would be once we get there?
John Deysher: Well, I was thinking you’re going to have losses from those three businesses in the first half. Once those losses go away, what would you expect gross income to increase by roughly?
Damien Vassall: Yes. So if the first two months are any indication on a pro forma basis, we believe gross income would improve by at least 4.5 million, but I think there will be upside to that.
John Deysher: 4.5 million per year?
Damien Vassall: Yes.
John Deysher: Okay. And there’s upside to that. Okay, good. That’s helpful. And just could you remind us on Vogtle 3 & 4 when those projects are supposed to be complete? The last data I have is Vogtle 3 in March of this year and Vogtle 4 in December of this year. Is that still ballpark correct?
Tracy Pagliara: That’s roughly correct. Vogtle 4 we are thinking it will be October, November to push. Vogtle 3, they’re actually generating electricity out of them as we speak. It’s a critical path where we’re able to do that. So we’re really bound to Vogtle 4 at this point.
