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from Today and fleet. look generation weeks, a with flow coming forward we diverse to in company the cash reintroducing Talen, strong a
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the flow emergence capital who joining generation welcome incoming energy basis. business and on allocating key to sector, Talen's help more and on in values will years Chief our McFarland access our objectives, at Executive discipline brings and will Officer deliver from I Matt XX cash experience maximizing core than would and of also like be a [ph]. Matt
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specifically, and also $XX hour. provide of last between $XX per to Production facility the generation up PTC PTC. and expects the to XXXX, hour from Reduction megawatt basing Act will signed of with in $XX.XX The the Starting year, benefit support, megawatt Inflation or revenues Susquehanna's up Credit Tax nuclear down per
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natural was and Island to gas Bruner converted has capability run to on switching already coal.
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regulatory also ERCOT. to new in the diversity geographic such market, either this gives reforms ability as us ORDC Rules potential Importantly, in proposed benefit from the
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the in structure, starting recourse of more near-term largely in financing and liquidity discuss us excess $XXX detail, go-forward provides we which will completed million maturity. debt have no our priced of with I capital As
the substantially next have campus, and Susquehanna data shell, completed one center facility. flagship our gigawatt data megawatt we Finally, XX located first power our to center
first this marketing actively quality are high tenant. building investment a grade find to and seeking We
yesterday, was as The are Slide XX. NRC expired period step we financing HSR this cleared, the final March, restructuring, we Agnes XX. our received accruals X. week, our approvals and let's to in May in in I track Regulatory turn the merge soon just [ph] May to tomorrow, Now, on as mentioned waiting as FERC have and possibly
$XXX capacity, and establishes revolver be emergence financing Agnes $XXX ample from to its unrestricted of undrawn million liquidity Talen The upon cash. million with well-capitalized,
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We in will detail discuss more shortly. the capital structure
to equity and turn return the X, drivers I values. want to emergence markets, values. the high-light, to significant significant Talen's of our of Slide With Now, highlight drivers
our meaningful its hours the peers. power is megawatt to megawatt XX $XX contribution zero XXXX, Susquehanna results, at XX% of is approximately hour, our quartile carbon net by per share First, from nuclear top which which a million driven low among generated plant, cost in to our
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complete owned our conversions facilities. We of have of gigawatts X.X wholly near coal
cash in This these significant optionality. reduces maintains means while has the but the not revenue we flow that seen this only potential from emissions, years our providing generation continue recent year, and into the upside extends portfolio life earned to the well the future. have that also Altogether, COX of our every capacity assets additional contribution
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fleet margins that through Turning summary our protected during reliable the realized from of provide a to significant cash gains of $XXX energy operations fleet Overall, generation million combined first quarter. delivered with the hedges here Slide X, flow. we performance
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as this quarter XX% fleet Consequently, XX% megawatts prior we of in the ended Overall, capacity million generated compared to a factor a the with year. quarter. X.X
factor However, when first Brad strength our X.X%, our last fleet our testament teams by best of over performances quarter is consistently in a as which led the one it to five was Dale. equivalent forced This is of years. the our the ran fleet of was and outage called upon, the operational
gains hedge $XXX million. Importantly, the offset generation by of lower was
Our of financially cash average XXXX second was ahead by per ability realized PGM flow megawatt half in protect prices QX these energy driven locking $XXX our hour during margin the to of winter. by higher
margin to To margin, could realized go put the Strong was and fewer earned of physical financial able generation not $XXX while execution and did our running through remains the perspective, when margin forward total we of because hours financially market when focus. materialize this did. realize a earn in fleet it million energy
real-life over fleet. Now, last one on financial X. their best due years, capital elevated move financial Slide prudent five and company The our its quarterly allocation results performances of summary energy let's margin across to the to achieved
on real-life can earlier, $XXX hedge gains the million mentioned. I talked $XXX the Looking about of energy This margin. represents see you these left, previously includes million at the table which
was Our excludes which EBITDA for the two less adjusted non-recurring flow, CapEx is was This items. payments, EBITDA adjusted free adjusted interest and million. $XXX cash million, CapEx as quarter calculated $XXX
approximately And Montour entities, $XX in spend with was million of XXXX. with conversions $XX of the approximately in million associated post-QX associated and CapEx which of remaining. late primarily fuel a approximately $XX cumulative second, QX, total pre-funded million Wagner with First, digital CapEx
period pre-emergence has cash Post-emergence, materially balance payment, QX estimated be contributed in, of All for interest to our was strong million, performance reduced the million. interest reflects XX. quarterly the $X.X but $XX unrestricted of March our Finally, billion our to approximately pro-format is this $XX to cap structure. as
the million with allows along cash from rights further EBITDA This debt, finance. with proceeds to on used our will deliver Ultimately, pay down recourse excess us leverage of this XXXX based recourse and and our $XXX X.X be times cash. to estimated unrestricted emerge equity pre-emergence offering net and
We will next. discuss post-emergence Talen
to planned value. our to highlight balance turn strategic notably, the This sheet, the most Slide loan Let's company's XX. recapitalization XX% slide of
our support common note will a unsecured equity, emergence, and of rights $X.X cash billion gross to more immediately dollar with and billion recourse full At converting through from and accomplished This all pursuant of holders, be their additional the the pre-petition company reduce offer. billion. providing $X.X creditors who debt $X.X into repayment to of than will billion are over the equity, debt $X.X this secured
the plan where debt this enterprise approximately emergence $X.X a into equity and This and equity meaningful net disciplined the of our loan plan to recourse way. to the billion, which of is execute a value generation and is to is the flow layer signals business. $X.X business, XX%. the being business, post-emergence billion, topics core that Again, significant company's value restructuring in on results access-free put in capital The allocate ability cash of in is approximately in demonstrates company's this compared
million successful structure, capital of discussed capital starting Turning including maturity to XX, long liquidity. with least Slide of at and favorable a as tower, a and our cost allows financing emerge excess $XXX dated earlier, lower Talen to
upper the significant have XXXX. see no side, Starting recourse debt funded we until left you on where can maturity
We revolver are don't confidence of particularly also nine for syndicate, letter banks by which million the of until that grateful credit XXXX. make our mature $XXX expressions and the up
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flexibility. million revolver, facilities $XXX $XXX approximately million our its fee financial of secured go-forward company the loan to addition, term capacity In needs. LC letter credit our enhancing support help maximize and ongoing new the These of us available facilities under LC
we together working right, claims balance earlier. for the business. cash upper have along on access funding the which in sheet, will payment financing, the discussed we a for with summary facilities, In capital plan, detail provide the of with recent and our These the in post-emergence liquidity of
Lastly, to remain on the CEO, company on will be update unchanged. occur Matt our emergence, XX. by May is which Other on are right, is led team McFarlane. governance bottom to key a management new its expected the Post-emergence, members expected
Talen be board, including a six directors Matt. will and governed independent by new
allocating We will our focused way. business. continue markets, the running That cash plants, excess of and a cash to core our free in capital our belly be to margin, being power on and the protecting flow power disciplined
in emergent our noted, capitalization. look lowered funded This bolstering Slide provides for cash Now at structure materially generation. our and will debt. pro-formic our result on And flow XX page free to a expense, details let's terms turn further our cash interest debt exit
On our This term which pro-forma to the letters in our plus of love can includes page, are table. C, credit, have of the netted. capitalization right proceeds $XXX side emergent see balance collateralized $XXX.XXX sheet, you been and million of placed our cash, the the of
new notes. debt million and $XXX term primarily our The loan is secured B, funded secured million $X.X
business. existing unsecured financing cost low emergence with our million as through $XXX non-recourse provide The construction LVMC associated financing, bonds as core digital we excluded our non-recourse carry a of and will million it project present of addition, infrastructure In part $XXX our is don't project and financing. generation municipal
billion $X.X recourse debt the net generation All of $X.X in, our approximately recourse debt is of approximately with the billion. business total pro-forma
and talked we times. compelling net beginning, update. of you Thank about XXXX financial As operating in prepared results pro-forma our your X.X at leverage remarks for this concludes the QX recourse for This this interest. XXXX
coal-generation generation In facilities of country, weeks, cash nuclear one nuclear carbon-deleveraging to the world's continuing with look ready take fleet, portfolio its diverse of the the complete, best from Talen. of coming in up A PTC, one owned wholly flow the a we nearly forward data company carbon to $XX backed reintroduction by of the campuses strong zero direct-connect megawatt the per and hour flight. of first to center
now the call operator. to With the that, I will back turn
