Third, we're benefiting from our multi-year focus on O&M expense management. In our guidance last year, we noted an expectation for annual increases in O&M expenses to average 5% over the five-year period, with higher increases in the early years and moderation in the out years. Through some of the initiatives Sid and Curtis have spoken about on prior calls, we've been able to achieve a faster pace of cost moderation, with O&M up just 5% year-to-date.

Nov 5, 2024 / receipt, needs a key / Chris Signalfi, CFO | earnings call 2024-11-05 | transcript abaf6894-f3bb-48ca-94d6-4f51ac9f4ac3 | chars 3685-4140 | segment 3

AI Invoice Reconciliation Improves cost control by identifying transaction-level discrepancies earlier, reducing manual review and preventing cost leakage

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Automation and artificial intelligence initiatives reduce costs, increase productivity and improve operational efficiencies

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Early stages have saved over 12,000 annualized labor hours

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2026 capital investments of ~$800 million, with approximately $230 million attributed to customer growth

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expected to achieve the upper half of the range

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Leveraging technology to drive efficiency and manage operating expenses

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Improved processes and workforce investments increase operating efficiency, capacity and capabilities

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In-sourcing key positions creates efficiencies that help drive down O&M expenses

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Managing expenses and increasing efficiency help maintain customer affordability

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