We continue to have candid discussions with stakeholders, regulators, customers, legislators and other policymakers about the transition we are in and the impacts it will have on reliability, customer bills, jobs and the economy, as well as the environmental benefits. The perspective of our stakeholders is diverse. Some have challenged why we didn’t start preparing state regulators sooner, including regional transmission operators, knowing these system changes were coming. Other stakeholders challenge us to be more aggressive in fighting new regulations because of concerns over rate impacts and other issues. Although those perspectives span a wide range of possible outcomes, we do feel it is prudent to initiate a dialogue with our regulators to discuss our response to this volatile circumstance. We are having those conversations now. We are also trying to figure out how we will pay for this transformation.

We encourage our stakeholders to continue coming to us with their concerns, as they have been doing; this helps us to be better informed about these issues and clarifies any misperceptions about the positions we are taking and the reasons for them. It also helps us to understand their perspective and consider alternatives. We may disagree on some issues but it is important to us that we keep lines of communication open. We hope our approach is mutually beneficial to our stakeholders and that they have a better understanding of our challenges.