And then I guess, we think about the change from, kind of $1 billion a year to $1.1 billion a year on average, you’re seeing the opportunity to continue to invest capital and thus increase that rate a bit, but to your point, capital costs are up. So, that’s factored into that total dollar objective as well.
Chris Franklin: I’d just add that even the cost of pipe is almost double over the last year or so. And so, conceptually, you get less done. We’re trying to be as efficient as we possibly can, but you get less done for the same dollar. And so, I would not consider this in the category of an acceleration, but more as we continue to identify capital opportunities, we’re working through those. And then, of course, we’re trying to stay pace with the needs of the infrastructure needs, especially our pipe replacement needs, both in water and in natural gas. And those don’t go away despite the price increases.
Davis Sunderland: Thanks so much.
Operator: Our next question comes from Jonathan Reeder from Wells Fargo. Please go ahead.
Jonathan Reeder: I appreciate the on DELCORA. Can you just indicate whether your expectations for close now towards year-end? Do those rely on the ability to reach this potential settlement or is that schedule, kind of more based on the latest legal challenges playing out to say getting addressed in a fully litigated process resuming at the Public Utilities Commission.
Chris Franklin: Yes. I would say probably a combination, Jonathan. I mean, here’s how we think about it. We’re still going to have to go through a full PUC process, right? We were expected to have evidentiary hearings in February, the 14 and 15, I think, were the original dates. Those are now pushed off. We’ll still need to go through those once the stay is lifted. And so, while €“ whether you call it a fully litigated or €“ but I would say it will be €“ continue to be a full process. Certainly, a settlement, if we could reach one then relieves the €“ any opportunity for additional delays and appeals. And so, that’s why I think about a settlement is optimal for closing this year. I don’t want to mischaracterize those discussions, but I would say they’re constructive conversations and ongoing conversations, and I remain optimistic about a settlement.
Jonathan Reeder: Okay. So, conversations are still occurring. You think they are constructive and still hopeful to get there. Okay.
Chris Franklin: Yes.
Jonathan Reeder: Okay. And then second question, you opened the call noting how the team has always delivered on the guidance ranges and made the comments later with respect to the year-to-date weather headwind and obviously, the delay in DELCORA, do you have other levers that you can pull and perhaps plan to pull if needed to offset the weather impact? I mean I know essentially as a reputation of running a pretty lean ship already, but might there be some temporary cost offsets that you could implement later in 2023, if needed?
Chris Franklin: I think the short answer is, yes.
Dan Schuller: Yes. Probably some things, Ryan, is that we’re evaluating now €“ I mean €“ Jonathan, sorry. So, we’re evaluating now that we may be able to say more about it progresses here, but certainly, we’ve always, to your point, had a strong cost culture, and we’re really encouraging that today as people look at expenses, sort of the idea of think before you spend. Do I need this? What is the quantity I really need? What do I have the optimal price, et cetera? So, ensuring that, that remains a strong part of our culture really is critical here in 2023.
Jonathan Reeder: Right. Okay. Great. No. I mean it’s hard to control the weather. So, good luck offsetting that if need be and looking forward to, hopefully, DELCORA can move forward. So, thanks for taking my questions.
Dan Schuller: Take care, Jonathan.
Operator: Thank you. And we have a follow-up question from Ryan for Northcoast Research. Please go ahead. Your line is open.
