Significant Industrial Demand Growth
Industrial load, particularly from data centers, increased by 16.5% compared to the same quarter last year, highlighting strong growth in this sector.
Successful Cost Management Initiatives
The company reduced 330 positions as part of its cost management work, contributing to lower operations and maintenance expenses, which led to a $0.06 EPS increase.
Legislative and Regulatory Achievements
The passage of the FAIR Energy Act and the POWER Act provides clarity and flexibility in regulatory proceedings, enhancing growth and customer pricing strategies.
Strong Financial Results
GAAP net income was $62 million or $0.56 per diluted share, and non-GAAP net income was $73 million or $0.66 per share.
Renewable and Clean Energy Progress
The company is leveraging federal tax credits to lower the cost of clean energy, aligning with customer-driven clean energy goals and reducing customer prices.