getting I'm reports continue. We'll Okay. mixed now.
I webcast. So being And Thank the and we'll what recorded. hopefully, you, is we'll as continue Robert. be Q&A believe far. available do. this goes for It will
Well, thanks, Chris.
adjusted to mentioned impacts. reported from and primary you our released XXXX share from for XX% our So drivers our were $X.XX growth compared as prior top of state-regulated continued represents for XXXX and weather-related look, from in year. earnings adjusted as we performance can which, very guidance we XXXX, range the investment of see was The utilities strong the earlier, Chris the this per earnings materials morning,
quarterly materials of adjusted morning. is reconciliation we and this annual complete our released included A earnings in the
Turning sales. electricity now to
Commercial and added XXXX. of the electric X% And particularly to were well as centers, year across losses Excluding our our which strong, compared customers by in year-over-year, sales approximately we to was to natural due XX,XXX strongest retail data impact the temporary existing year of electricity weather-normalized total These distribution new strength sales highlight new XX,XXX residential were new led power new the terms particularly customers as sales on XX% X our from service territories, Southeast. continue up Helene, electric observe gas up customers. Hurricane in the usage for businesses. record broad trends residential We were in
to annual X% sales X% XXXX XXXX, approximately our consolidated long-term this into sales. X% growth growth sales with compared Longer grow approximately expectations. momentum expect average an sales term, normal XXXX of to from from electricity X% to continue project through prior We retail a basis weather increase to on of we projected XXXX
Georgia growth Power's to be retail XX% is period. sales projected electric same total approximately over the
centers represents X/X currently which retail and is of projected approximately Commercial to of Our sales includes XXXX. an grow XX% from data average electricity total segment, to XXXX
disciplined times As we we approach to take very have the electric and measured incremental forecasting load. highlighted several a in past,
both timing forecasts and risk-adjusted Chris As our fraction of a load in and growth existing as size. total by our remarks, pipeline. extraordinary customers, the our continuous development forecast his significantly engagement with to prospective Informed pertains the it represents are experience economic mentioned and in
capital load years. this in the significant coming Serving investments reliably requires
next of state-regulated the billion, Our an our years base which over capital represents approximately year billion $XX utilities. This X ago. X or a forecast is investment from $XX XX% is increase just our forecast at XX%
forecast. plans In is Power interstate addition natural capital largest our transmission projects our our previously the expansion in increases to for investment new increased the pipeline, for driver at and largest in announced gas Southern expenditures incremental of system
annual capital state-regulated year from increase ago. long-term projected X% of base forecast investment average X%, supports our rate a plan growth X Our approximately
capital resources, that Our an investments which processes. past included have which remains subject new regulatory not used approach expanded consistent in generation we that, forecasting with we and capital to forecast potential the or primarily reflects have to
also are Georgia to needs IRP, There Southeast. increasing there approximately meet are Resource gas from example, RFPs, approved pipeline for for XX,XXX Plan, or new outstanding investments Power of customers that the For in FERC-regulated represent resources Integrated previously request natural or megawatts. incremental potential proposals, the energy
billion for incremental we to investments regulated these of Combined, outcomes to reasonable XXXX capital range a $XX estimate XXXX. represent billion totaling opportunities potential $XX that for
we majority base of line portion could ongoing opportunities we this business timing regulatory investments of to time fund for capital preserving the plan that are continues active later our a be have could a better plan. these in continues it's credit-supportive ratings our have these investment-grade financing credit the in provided sight capital manner, at reminder, we the we on a substantial investment currently supports and plan base a vast regulatory of and The year, incremental which likely of to processes given processes, update potential As priority. our these
be also a must be a As investment, that high-quality a equity we high-quality to credit. company believe
at our our million annually needs Our debt forecast to metric toward plus needs projects to or latter million credit FFO with plans, average should provide internal $XXX market of to annual year target manageable easily our and our part equity which -- support of approximately within million XX% of $XXX horizon. quality our the approximately ATM base credit by be plan These our the progress a approximately equity $XXX program.
plan, investment expect capital To credit would incremental equivalents. the base Accordingly, our our extent XX% incremental of opportunities capital we become part or same. to XX% would equity to with the quality current capital plan fund equity above objectives our remain approximately investments
and We continue use expect equity same to demonstrated we equivalents. flexible comes equity to it have to incremental shareholder-focused to sourcing, be when historically or the discipline
we've of XX% by roughly addressed forward Since agencies. contracts $XXX rating through received sales our subordinated ATM call, the or already earnings issuance million by under junior for pricing of needs which XXXX equity the treatment credit last equity notes JSNs and
proposition decades, For part of value an has for dividend integral shareholders. our been our
Southern dividend than XX XX each over for greater consecutive Company year to years a consecutive equal last or previous with years. is paid the has of increases that the
we in needs Directors, horizon. as proposition. balance our should to to increases of dividend ratio increases low of subject with forecast lower dividend important our approval modest very component value our dividend continued equity future by we our are While the into This project Board the serve this range payout to over mid-XX% our
to now XXXX beyond. guidance Turning earnings our and for
share Our $X.XX XXXX is guidance adjusted earnings share. per range to $X.XX for per
Our adjusted our guidance XXXX X% of EPS growth represents midpoint. $X.XX guidance from adjusted midpoint
unchanged adjusted X% long-term EPS X% XXXX is to Our guidance our from projected guidance. at growth rate
a our same Clearly, drivers be our to These we than rates our X% top securities to higher highlighted At are our positioned earnings of being long-term that including positive a fundamentals early debt are we higher this for rates, at range latter growth. our of equal, be trajectory assuming starting increasingly offsetting assuming strong believe expect our as significant opportunities forecast our seeing meaningfully parent the current continues, should appears projected momentum near All interest factor the also now time, we've trajectory expected about incremental become potentially EPS the higher as long-term gets adjusted to X% potential are of a long-term sustainable horizon. the encouraged be and the refinanced for today. growth years support portion else which and the That point improved at XXXX. to We outlook. partially continue the longer, of increasingly rebase projected capital could to even growth we company strength we be said, as outstanding the materializing. in long-term significant
now turn call you. I'll to Chris, the back over
