Analysts flagged weakness in ERCOT and PJM forward prices even as our demand pipeline looked strong. Look, we've argued the forwards undervalue 2028-2029 and beyond — the ERCOT load "isn't yet on the system, it's getting built." We've stayed well hedged against near-term weakness. That's the merchant model: we carry price exposure across PJM, MISO, NYISO, ERCOT — not a regulated return — but capture premium for clean, firm, reliable power under long-term contracts to our owners. The Pennsylvania governor's letter pertained to regulated utilities, not us. The tunnel's real, light's visible.