Long-duration Contracted CapacityA secured 12-year capacity agreement (> $1B) plus earlier 3-year deals create multi-year locked-in capacity revenue and ~14 years of sold-forward accredited capacity. This materially de-risks long-term cash flow visibility and supports project financing and strategic planning.
Improved Balance Sheet & LiquidityVery low leverage, rising equity and cash liquidity provide financial flexibility to fund maintenance, reliability investments, and development projects. This stronger capital structure reduces refinancing risk and supports staged spending on Merom modernization and gas project options.
Reduced Development Timing Risk For Merom GasPurchasing long-lead gas turbines materially lowers execution and procurement risk for the Merom gas project, accelerating potential in-service timing and preserving optionality (build, sell, or sell equipment). It advances diversification toward multi-fuel generation revenue streams.