EarningsThe stipulation supports an overall net average increase in annual retail revenues of ~$98mm.
Regulatory ExecutionManagement's regulatory execution over the last several years is seen as a significant positive, given improved ROEs/equity layers, longer duration, and reduced regulatory lag.
Renewable DevelopmentThe positive view reflects continued expansion of renewable development and fossil fuel retirements, reduced regulatory rate lag in North Carolina, and upside ROE potential from the NCUC's PBR rules.