Adam Richins: Yes, Chris, this is Adam. One of the things you’ve seen over the last three years from 2023 to 2025, we’ve had about 443 megawatts of energy storage projects that have come into play. We’ve competed for each of those. And at the end of the day, we have been successful for 293 of those megawatts. As you look at the ’26 RFPs we have three benchmark bids that we put into that that hopefully, we’ll find out if we were successful there over the next couple of months. So our goal absolutely is to compete where we can with these RFPs. I think another thing though to keep in mind is, it’s not just resource growth that you’re seeing in IRP, our transmission is a big part of that too. And you probably note the Gateway West moved forward from really the 2035-ish time frame to the 2029 time frame for one of the segments, which is a pretty notable investment.
And then you have segments nine and 10 also, midway through that decade. We also have a project called Southwest Intertie that was in our IRP that the transmission project that we’re also evaluating and looking to see if there’s opportunities for us there. So I think when you look in terms of our growth, you look not only at the batteries and the solar and the wind that could come to fruition, but also the transmission which one of our goals is to be a major player in the transmission game. We’re well situated sitting in the middle of the market and feel like this is a good opportunity for us as we move forward.
Brian Buckham: One thing, I’ll add Chris, and I mentioned this in my remarks earlier. When you look at the 2026-2027 time frame we don’t have any owned resources from the RFP shown in that new updated capital stack that we have in the 10-Q and that’s the $2.5 billion to $2.7 billion number. So there’s a lot of CapEx there diversified across the board as to what that CapEx is comprised of. But any incremental additions from winning those RFPs would add to that CapEx out in the future.
Adam Richins: And again, Brian just reminded me too that what I just mentioned Chris does not include the conversion of coal to breaker units one through four and coal units one through two as well. So you’ll see those in IRP too and also have growth benefits there.
Chris Ellinghaus: That was my next question. Relative to the Q4 rate base number of 11-plus percent that you guys quoted us, Brian you just sort of added to the near-term CapEx outlook and put out the IRP. Should we be expecting or is it reasonable to expect that your updated rate base growth when you come out with your updated CapEx is going to be on the higher side?
Brian Buckham: If you look at it from a CAGR perspective, what we put out in February had lower numbers in it. They also have some additions more on the front end than the back end. So a lot of what we’re talking about will add additional incremental spend in 2026 and 2027 and then we’ll be tacking on 2028. We’ll do that in February. Some of the ultimate CAGR on that will depend on what the numbers are in 2028, but there is a good possibility that that CAGR could actually be larger when we update our numbers in February. We’re going through the capital budgeting process as we speak.
Chris Ellinghaus: Okay. That’s great. All right. Thank you so much. Appreciate it.
Lisa Grow : All right. Thank you.
Brian Buckham: Thanks, Chris.
Operator: Your next question comes from the line of Brian Russo with Sidoti & Company. Brian, go ahead.
Brian Russo: Hi. Good afternoon. Just a follow-up on the rate base CAGR or the CapEx in 2025 through 2027, if you now on average for those three years of $2.25 billion versus the prior $1.6 billion, I mean, that’s a 40% increase. So I suspect just by the easy math there seems like there’s quite a bit of upside to that 11% rate base CAGR. And then I’m curious what is the what’s the incremental CapEx for?
