And so, it’s a huge issue, as you mentioned, and that’s why we’re spending a lot of time right now on educating our customers to make sure that they know what plans are available, but also to just make sure they really read the fine print and understand the plans that they’re entering into and doing what’s best for them and their family.
Paul Patterson: Okay. Awesome. Thanks so much. Have a great one.
Vince Sorgi: Thanks, Paul.
Operator: The next question comes from Angie Storozynski of Seaport. Please, go ahead.
Vince Sorgi: Hi, Angie.
Angie Storozynski: Hi. How are you? So I have a question about Kentucky. And it’s — I understand it’s a bit premature, I guess. But given the time line for the approval by FERC of the Kentucky Power sale, I think it’s increasingly likely that, that transaction doesn’t happen. And I’m just wondering, if this asset stays within AP, they’re probably going to try to boost its growth profile, which — that could result in additional coal plant retirements or plans to retire coal plants. And I’m just wondering, how do you think that could impact your pending proposal? I mean, we’ve been hearing some noise in newspapers in the state about reliability concerns on the back of coal plant retirements? And again, just thinking bigger picture if there were to be more large state utilities with a similar growth path or towards the coal plant retirements, if that could actually derail the process, or do you think actually that could be helpful?
Vince Sorgi: Yes, I’m not sure, I think, it would impact us one way or the other, Angie. I think, again, our CPCN has been designed to strike an appropriate balance with different fuel sources to provide that safe, reliable and affordable energy, while we’re replacing 1,500 megawatts, that is reaching our end of lives. We’ve been very clear that we have not accelerated the retirement of our coal plants. These are plants that are end of life. And — so our CP, or CPCN, with the commission is really how best to replace that retiring coal generation with the least cost, most reliable sources of energy. And as you know, we have a balance of combined cycle plants in there with solar, with some storage, et cetera. So I don’t know that I would see the — whether the sale process or whether the asset remains with AEP really impacting our process.
Angie Storozynski: Okay. And then secondly, assuming that you do get the approval, the certificate of — the certificates from the Kentucky Commission, would you then file a rate case to recover the investment, or the plan would be either see a rider recovery or basically further cut costs to pay for the capital spending and the return on it? Yes. So we do — we are requesting AFUDC coverage for the capital investments we would be making under the CPCN. So that would provide us with the earnings aspect of making those investments before they go in service. From a cash perspective, again, one of the reasons why we have the balance sheet that we have is it enables us to engage with our regulators to mitigate near-term rate impacts, but at the same time, get the investments done that we know we need to get done. And then we would pick that up in a rate case sometime in the 2026 or later time frame.
