Thank good highlighting and remarks start Steven, safety morning. you, by I'll our my performance.
in to commend safety, late for the years. focus X.XX, last on including within Carolina trend positive my consistent year is months X South Helene with area. service the OSHA shown devastation X, on X continued historic recordable Slide our core first As our injury Hurricane employee employee September, line the the of I from was which our first many for their communities, caused value.
In colleagues rate
hit XXX,XXX Hurricane Helene which nearly Carolina electric peak, our of was South destruction significant its to half result, left since This customers of XX without power. the our largest service storm a infrastructure, As we nearly years our Carolina system ago. caused At disruptions. South saw Hugo
our didn't restoration conditions to involved of their over Virginia the X,XXX X,XXX and Our around safely quickly challenging joined themselves, in assistance. power X,XXX members were who by have to X,XXX The team of and water our south or replacing and transformers, of restore employees, lend whom poles, over partners spans many clock wire. to worked power customers.
They traveled
restoration estimate including million. is $XXX final of Although the our we've $XXX expenditures, not of costs, completed to range million our preliminary capital accounting, in
that we project organizations recovery local continue for storm that many, to of including and all and on execution to key to different a time with including to emergency expected CVOW. and support $XXX storm by this communities to beginning meals, the XX We plan, are of be and season. estimates incredibly the our just our communities to ways serving a of those and previously impacted employees, involved intend rebuilding. supplies. monopile with our over We've be Office our commend look direct lives proceeding I'm let evaluate aid for the employees, lines The of is stakeholders updates And the the support on few our their services, and excess response, million, and and provided employees Regulatory customers. our very budget, continue successful know to consistent financial first we customers, me and completed thoughts families provided. Staff that, with to proud work with are Given commitment that potential installation costs of a in provide will to disaster costs.
We on communities.
With the the time securitization deferred of impacted and shelter,
of X piles pen we've planned on Slide that XX X, first offshore as as monopiles well shown X the installed support As substations.
thank laid achieve our that first will I'm expertise cables we've process marine our did Additionally, and for experience with season. X target, productive. invaluable partners they the X schedule. export ahead our more the during this even season make installations work want gained to very deepwater also we first also of of high-quality we pleased only progress delivered. next DEME installation Not at the I
the found XX% of items can Portsmouth project the to be updates but On on project taken highlight. X, and monopiles few we've equipment, Marine CVOW Terminal, representing XX total. receipt thus Slide of Additional materials far, a at
EEW, continues with substations begins.
XX steadily remain Portsmouth the Virginia completed commissioning All pieces which track, have Terminal. next completed make partner, progress, monopile expect coming to installation season weeks. Marine of be to substation and X to in to assembly, on and first Our XX expected delivered and been strong have shipped the before the transition for offshore deliveries continue and we to final final
million of the rider we first in of schedule on manufacturing anticipate the for our XXXX. We turbines Additionally, will revenue. of morning, of production made commencing with wind track. remains representing regulatory, the begin towers have blade quarter XXXX last annual as seen, June, filing this $XXX offshore the fabrication may On nacelle and you our
energy as in prices hour, $X.X that XX, to against September The approximately by X. project's costs being per to delivered $XXX last we've percentage $XX in completed billion have when has competitively date, spend year-end customers. we've Slide forecasted to ones credited compared to which quarterly per past. total prices, in megawatt mind as we've as is the value target quarter. $X primary cost to to that studied expected on approximately the XXXX.
Also unused update the remaining levelized current to considerably. of current benchmark Keep a million approximately are projects improved The filing level REC to invested REC Turning driver other today, million increased and Project $XXX higher contingency continues contingency of remain budgeted the value and LCOE billion of large compared infrastructure
an with and on-budget with partners We is the our delivery expectation. have our been project and clear that of team very suppliers
Lastly, and XX% XX. milestones complete, the is we've highlighted on remaining major Slide project currently the
electrical allow crane few activities. coming XX, XX% of now final by completed be up currently engine weeks, sections as support to Since update. to of complete, Turning engine for last set In August, operations our to well from XX% load crane underway. a the me is overall updates vessel the testing The testing with commissioning parallel will provide as as we've let the Charybdis. Slide on legs the work
to vessel's schedule, which then XXXX, third support our the towers, change in we of CVOW There's to early start the of cost completion consistent Charybdis blades of anticipate change 'XX.
The will and return nacelles. expect current also no work early that next vessel previous turbine availability allow to no complete sea additional to the late and range year. port quarter expected hold construction in will guidance will the 'XX, We $XXX for There's the trials million. it to vessel's with
Slide to now Moving XX.
and we've XX Virginia centers data data update. continue XX last have data in as We per connect XX growth already to XXXX, up center strong of Since connections new to XXXX, centers in year-to-date. year. around see XX now data averaged connected expect our We from center
XX. engineering data on three, letters are contracts of to into: electrical authorization; demand two, of Slide construction authorization; broken These and center letters one, agreements. Turning substation service
the the within commitment to X, of move approximately infrastructure date. demand studying by data to Should customer.
There serve cost of from and executed substation reimburse to stage of which are also requested to company substation customer new that gigawatts X authorization, authorization demand in of letters substation the the customers and center the they're engineering and company required electric the engineering data that about construction for for X discontinue means gigawatts contracts distribution our required necessary obligated are the letters X that infrastructure construction this stage, projects, As to of elect currently to We're to enable which obligation increases. begin. customers have the distribution customers center investment begin
ESA, committing yet included for contract level point of of around data is ramp gigawatts usage data an represent XX Energy individual an gigawatts electricity where a structured that often are as agreements, projects for have contracted contracts phase service schedules connection grows or XX in service as contracted customer.
Each demand the the of executed. over time. not By with to July is between XXXX, a we a in in compares have amounts the and and a not the certain account. is many over aggregate, do the July annually, development of X which In where XXXX. gigawatts consuming ESA, electrical signing contract contemplate to process Finally, These Dominion center center reached customer service electric
our on system Turning to planning. you transmission XX, let Slide me update
the resulted a unprecedented on in DOM size and growth. experiencing of I've in transmission has point increase service PJM load quantity system. delivery This our As zone requests previously, shared unprecedented is both similarly for the
requests. we've of context, requests representing capacity.
We've September, order recently received point begun XX nearly of XXX delivery gigawatts construction XX us gigawatts requests, process received Since representing XX only will implementing For into This and delivery we've construction XXXX, delivery our changes to point new that to point nearly capacity. batches load year-to-date requests allow they're them received. will affect in serve organize the
on demand count we Since Importantly, demand ensure can continue communicating this these robust to we've materially. customers to system changes, see from customers. high our increases continued reliability will even as began
business share let few Turning updates. additional to Slide a me XX,
First, and process in alone. to joint what we September offer this of own regional agreement side, on latest our as customers in solutions approach believe could proposals the window collaborative companies for and part a AEP submitted along with transmission PJM's we open project better planning to FirstEnergy. offer transmission portfolio than allows our We
While robust transmission there's Recall we over XXX across totaling final a reflect early projects made until open awarded for this expect transmission XXXX, project selections billion. by to new were and be PJM the need year, that. region, we window that last won't $X.X
announced updates front, the On a recent of we've number generation in weeks.
Plan, we incurred of Surry costs and calendar update for years solar license North next First, Anna, investments on October in proceeding investment.
Also set values. solar, load more turning I we XX, explore power of both is an Amazon October customer On technology Integrated $XXX we robust SEC, interest Anna Anna. in including our our balance sheet more be from that be generation consisting to recovery at protects We're feasibility nuclear To resource North of developing technologies our including The through a Virginia capital On the risks in and even the evaluating consider portfolios and projects gas, changes PJM's to that the going announced adequacy we'll further potential build more with overall in we'll supporting XX. nuclear structures extension any what I filed the more with for able. several phase the and and with XX, seeking final more I've can as Resource limited explained will future in more possible X needs filed business Slide growth on wind, calls extension agreement more factors share the like.
But nuclear.
On annual at continued MOU for our say to subsequent life during to provide of on we're units to XXXX. that cost in into our this storage, see North additional to fruition. every renewal exciting resource we so response in our note, encouraging and for invest, generation way express October of power including IRP X, and a resource, clear, of in baseload willingness SMR large advancing here it's filed nuclear Virginia next-generation development providers, presented customers, I'm XX, partner risk. and XXXX across dispatchable users, in collaborate October which approximately technology very of to stages technology the early bring capacity profile, companies, and program, million our utility-scale and risk renewable representing first-of-a-kind carbon-free details our XXXX the
XX, in megawatts Avangrid, involved that On approximately an partners from pursuing October acquisition representing possible is offshore wind CVOW, to to which it or to in these regulated could wind we more future. support options in secured the No lease time on the even generation. cost much This further. approximately regulated I'd closed of XX,XXX-acre lease in we discussions potential interested actively arrangements. will with very lines area similar we're the are advance wind how addition XXX of or how additional when offshore that note Finally, offshore other on adjacent
and these to with our and expertise proprietary CVOW look customers wind with project all to growing announcements associated altogether reflect through we competitive approach knowledge stakeholders meeting all-of-the-above working projects. offshore unique our Our advantage.
These constructively gives an forward on a developed demand,
growth, infrastructure that we investment utility will drive chain, and transmission, to about said distribution, we full growth. consider continue generation think the we've has rate when and value As base demand before,
Given for these expect be end beyond. there drivers, we the opportunities towards regulated of back to our incremental capital and investment plan
plan we on guidance early noted, quarter call our As capital in earnings our update XXXX. to fourth
sheet system on at profile. our conservatism, we customer plans XX% the XX% electricity Slide rates in periods rates incremental as residential reliability, latest levels. at on affordability, respectively. build and IRPs, average, XX, DEV low-risk current electric growth maintain On capital balance are shown customer both customer current always, As forecast will through based of the through proposed lenses DESC affordability, inflation will U.S. both and our And bill look the below and states' below
and regulatory Carolina updates Carolina Turning in on South North to XX. Slide
South case X. As to South Public of mentioned rates the on becoming last proceeding, approved effective quarter, by other agreed September we with Office a Staff electric our Commission the was and rate August in settlement in Regulatory in Service Carolina Carolina interveners which with
spent legislature appreciative to the continue legislation, time to policymakers important addition, evaluate of potential topic. the energy date we're and this significant by on In
indicated we've Carolina's past, supporting growing economy. committed we're the in to South As
However, a a a X.XX% removed Interim $X stipulates base rates equity regulatory with CCR for regulatory placed return, earn other jurisdictions rider, The million it and surrounding ongoing and and settlement revenue staff DESC we reached upon framework from of commission's the XX.X% stand-alone premised a million in in as Southeast jurisdictions layer. achieve to agreement lag North final base Carolina, we've regulated rate in especially Overall, testified, that approximately the requirement X, today costs allowed $XX subject interveners ROE pending also annual impossible in creates as practically become that our be compared other all as well.
In to increase North regulatory continue effective Carolina, providing regulated order. constructive to territories. our makes on approval. the in we service to October outcomes public proceeding our rates in the and
remarks, on provide let few Millstone. Before comments my conclude a I me
electricity, more a than fixed provides through output remaining in very by we've XX% is XX% asset. significantly derisked contract Millstone of we past, our The said XXXX. price view hedging output the a under program. its late carbon-free Connecticut's of It and valuable As is as
of specifically, has As And continued aware, there many activity legislative been we've to Massachusetts New are to best procurements additional nuclear of value and aimed in Millstone. multiple at in you for power. recent there parties with future authorizing find England the engage
point, as center that, idea to fashion with potential in time pursued us.
With for collaborative state-sponsored remains we're a for this exploring summarize needs the a to but announcements have data on strongly Slide line remarks At any mind we top of Connecticut. addition activity well. procurement, be any that supporting in this XX. In our me option stakeholders let don't center incremental feel of data We
but more to to reaffirmed drive work this We to safety our quarter strong, guidance guidance remains financial there's Our and March earnings do all narrowed performance XXXX range. injuries zero. X from
Our offshore wind remains and on project budget. on time
the XXX% continue provide make execution. customers to focused we the and know are affordable, day. that, continue We We to must to that deliver and to And your energy investments we increasingly questions. we powers clean our we're will. reliable, necessary every take ready With on
