safety Thanks, begin Steve, by I'll performance. highlighting morning. and good our my remarks
for recordable our X, improvement of relative As year performance. significant months first colleagues a injury focus X.XX, to consistent historical OSHA safety, is value. the strong commend their I already employee core my shown Slide our was the on rate first X on employee for which
meeting replay, many and be we note all on all and review, we on On directly were to wanted who understand to event. the our those the of among continued better perspectives materials able our see thank and with well the by thoroughly. X, campaign the results participate what I've opportunities feedback We challenges to as website, that met their to the the business shareholders comprehensive like changes webcast encourage our provide I large, review those and review. review. the fundamental the of March available Throughout and announced review, I following to to extensively including result of those our and Please deliberate Since consensus that represents of shareholders. a of share believe affected conclusion they I'd as as engagement, company's investor and continue
challenges head This review. in partway a our delivered result. not Instead, on, a has faced past. that company truly the was we comprehensive the First, fully we addressed
appropriately than we've have to that in developed recognition significant past. financial is durable and the conservative Second, plan transparency, taken enhance steps that more a and more we that
a and to are on perhaps acknowledgment operational be more have and into XXX% compensation guidance the and my that demonstrate of generally, changes that unwavering. delivering shareholder must committed details last we our finally, material commitment in most importantly, structure, alignment. a the clear of full proxy statement, Third, provided. now financial And governance which executing to expectation to are our strong we point, available that company On
to my company. what repeat of said am accountable excited I the entire have execute very for commitment before. Let and embraced and our our I leadership for deliver. am next team has me I chapter
our plan. a me let updates provide of the on execution that, few With
few related regarding wind, inaccurate There circulating releases with offshore the I'd our start to no like project. has status Turning remarks to news been a ordered. to of yesterday delay
Our construction has been schedule altered. not
preliminary was injunction plans not installation response judge with will a issued reply. last those no to between following has other May week motion installation schedule. motion made the status the legal to believe raised related agencies a which thorough respect the file this first the Court and being expect on challenge finalized this other when X. prior work injunction. We and The ruled the we We beginning brought the We'll various courts Bone filed Vineyard other in in all X government tomorrow injunction all preliminary permit has the estimated April a and to On the requirements, to other such merit plaintiff's X to against to May requesting on plaintiffs preliminary a arguments begin. approvals and by XX, motion May Plaintiffs for for any with begin for and certain with and a Court complaint lawsuit for We for administrative with than until in circuit, District of our just orders to and permitting by process court biological connection by monopile complied mitigation plaintiff the has Most provide deny of and true and was have the the for permits recently in monopile no expect Appeals report the U.S. installation received. U.S. regarding to the Wind. Similar filed D.C. date file circuit in request is to opinion the file rejected The project. brief been actions the Monday. have this for case, projects. fact,
project and provided. on lines and previously reiterate. just Let consistent estimates proceeding budget, is me The on with time time the
and last X, month, its received project on shown final permit. As XXth the Slide federal
making Portsmouth from Our monopiles on representing XX% We've Marine supplier, materials the and excellent equipment terminal EEW and progress. total. at the track were XX our received of
heavy disruptions be Portsmouth across monopile delays mitigate coming seasons, will week. in or us installed we've XXXX, XXXX to steadily final schedule. any currently to without will monopiles DMA their Orion, X Marine the and Recall installation continue to lift crane deliveries in Virginia. impacting vessel, better expect We Terminal allows weeks. is which scheduled These that potential which at use next begin
and The X have outfitted. first completed to substation structures topside to delivered be offshore SEMCO of been
turbine their per of West, installation X/X our of and Scheduled use. benefit been the late has now It's the cable from turbines project been wind installation though Scotland offshore lessons installation manufacturing in installed our that future. produced. Deme until XXX manufactured, loaded underground same and May. turbine coast has will of been finished our CVOW Virginia a project way of that off learned All XXX arrive in onshore miles are transition over for supporting worth pieces noting project and Siemens that on track. that X the of first schedule, model miles XXXX The recently The even on to expected cable remains successfully won't to the have we has will Gamesa an campaign the for begin
ashore. horizontal drills million August. and Construction boards we the is activities civil on remain including $XXX rider for onshore. directional come November, our month, we representing hearing expect annual Moving of the where XXXX export revenue. by The track, work, order later this filing, scheduled last and cables On regulatory, the final made
X. Slide to Turning
average increase the prudency for on Project megawatt gradually no lifetime legislative REC an the interest of per factors. produces that key this to other hour, line. as country. project our the with affected customers modestly well other approximately $X provided price have these by construction I drivers and our project's report in remain over The billion $X.X show in rates. remainder standard forecast below and costs We our the LCOE reflected lower relative by is approximately the invested be considered factor to billion prices to XX% about spend parts of status updated to to assumptions. XXXX. to filed below being to down updated changes point capital update. the percentage the As are date, of project related which fixed. cost, the customers we've for or yesterday, sensitivities metric, again LCOE now cap out expected year-end cost PPA well $XX on time last the would include larger SEC we've remain benefit project $X.X to capacity We've well There as how Will been a the target
our considered filing, contingency very move update $XXX and further prior original normal not I'm current to in relative of November the kind that along is continues a of this and an project we filed in team unexpected, total as million to been our clear with that being XX we've project project. contingency equal to is competitively our The with of as expectation. completed some when Slightly to with the costs level We've of other benchmark large ones and very delivery budgeted projects past. on-budget per pleased changes towards are contingency further XXXX, lower contingency compared months infrastructure is we've the the partners the despite the unused and current completion. suppliers percentage studied
Lastly, and the currently project project complete we've on remaining is major XX% highlighted Slide milestones XX.
from XX% in or complete, sea on Last agreed XXXX until launched shown CVOW was that agreement construction have a Caribtus CVOW The returning vessel to begin is legs achieve to under third to to welding provide half by would the today's our jacking change early of construction. this delivery be There's the current as also encourage related and the from XXXX to time the water, the XX% successful serviced charter milestone Caribtus, There's now we update. we terminate updates you trials. of which up included late successfully materials. on of support me of major installation. haul last turbine completion system commissioning short will Slide to availability successfully Let few frame a the to change currently the land marked of XX. launch no announced month, expected of video this XXXX, To which the in In ship's party no I a completed. access vessel's schedule. April, marking successful and to second X of in vessels a vessel's expected milestone, as were Caribtus
cash to a derisk potentially does accelerating change of to currently exploring a have financial no As and our result CVOW in the our its result. options meaningful as by the earnings, a on guidance we're further there's financial impact XXXX, line access not exclusive agreed The CVOW. credit, project's deployment termination the vessel to and plan, to sold time or has mutually an termination,
of also of a offshore is wind key Finally, wind is chain Coast, to project's offshore the only growth cost along estimated of providing the but is the CVOW, to turbines. installation million. not for no $XXX of supply East the the the to industry homegrown U.S. Caribtus there to change solution development continued and vital, by current domestic a
see after continue the of is We to the interest CVOW strong and project vessel complete. use
address At related customer Current approximately me national residential recently are provide rate Slide would well At we few to years, our let net roughly related now the several reduction regulatory filings below DEV, a XX, a Yesterday, of typical for rates and our a fuel made that current to transmission riders in as the in average. by Turning first of approved the as updates. are DESC, XX% X%. our affordability which rates national in result a past to the over XX% cost bills bill fuel settlement invested filing $X.X initiated filings electric And general case $XX residential approximately X time, during March, average. month. system the an customers. benefit reduced in we below representing we've customer billion
typical with schedule We us expect on focused affordability allows based a are ensure in new reliability. getting rates value, on high customers to effective very Being compelling coupled to be procedural September.
the outlook in Turning to and growth Virginia. Slide XX
our to Let second, me third, on, first, a share needs; our few done and customers' being impact what's support the to thoughts financial them; plan. long-term
capacity plus very growth precisely DEV's the We're policy year-over-year observing utility X.X%, rate gigawatts system. X.X% and aggregate, goals, XX over growth weather-normal full March of in year was growth, customers' very rate center industry with real our recent resiliency the data growth Northern substantial multi-decade address line approximately in XXXX data into public X has and accelerating to decarbonization by driven last ramping demand required grown our of The expectation across sales electrification we're through time connected years. in In substantially over years. and data X.X%, investment with Virginia needs. centers First, growing robust in X economic we've center expansion. to the
has to orders the in driven additional XXXX. XX to requesting three, facility; data size to accelerated Virginia each data In by of one, of and We the markets. acceleration schedule connected be this leads magnitude, world in recent two, in of connect system; our facility's centers ramp each capacity. growth Northern the of center to an number centers years, expect full data reach
For historically, megawatts center some had single greater. typically demand XX a context, a data of or
XX include analysis need over parameters. XXXX it XXX requests in megawatts the dispatchable from validates and to megawatts expediently demand and XX of and capacity that data the We of regular total X require planning included as Last its However, and decision PJM hasn't load requests the progress multiple released larger and capacity resources month, This The also results auction greater get need PJM buildings our center IRP. align to with to local planning years. and several stopped independent support as expedite for ranging we're modeling projects for receiving gigawatts. individual growth to supply there. transmission numerous our last now requisite the expansion process to or recurring many regional our campuses
open to We and system with with $X.X lines growth other last over and remains support and totaling today? Virginia, necessary the reliable. December. We're working to local electric critical on-site several needs, fast Second, and stakeholders We fuel for plans been especially window committed track accelerated we assessing PJM, in track. doing billion officials on storage. infrastructure the the PJM along transmission what winter take other that will kV solutions resilient steps Northern and of and customers had transmission to our XXX remains already dispatchable the these awarded are SEC, We're We've our the expeditiously that ensure other continued during This region. generation new projects. XXX backup during projects includes pursuing
Finally, what's impact financial plan. to the our
end consider chain: investment will reliability beyond. growth, Our transmission, demand of incremental capital customer We plan investment think for regulated may our growth. opportunities value and has is there and believe back the distribution be drive that this base we generation and and about driven toward infrastructure utility rate When needs. to by plan we full the demand, continue capital
lenses profile. conservatism our reliability, before, As capital customer of incremental balance look and affordability, we at low-risk will system I've through the said sheet
in PJM keeping along year's submitted XXXX in in will factored load with recent load be work in next average below to planning load view. XXXX projections, take NCUC this growth our growth bill will for years investment cumulative factored IRP a this the XXXX. meet ways generation customer October and transmission the and to IRPs IRP. meet best most over the load our while longer-term Our to that and significant SEC IRP the be to XX optimize growth, into The The X%. The
our safely responsibility to providing to on provide We will We our continue as develop. focused things energy remain of reliable updates core customers.
With that, on Slide let summarize our me XX. remarks
outstanding, to drive performance more guidance. X. but to safety injuries do quarter work Our this financial affirmed to there's was We all
Our project offshore and on time is budget. wind on
We continue provide the every investments increasingly and we questions. that, XXX% your must and We to to ready day, focused to we make affordable the With customers necessary are energy and reliable, that we powers will. on execution. take clean we're deliver know our
