The 2024 guidance also revised upward--the company's five-year consolidated capital expenditure (capex) plan by $2 billion, to $25 billion. While the revised capital spending budget adds to the company?s discretionary cash deficit, we expect its financial measures to remain within our base case expectations, driven primarily by a constructive rate case outcome in the recently approved electric rate case for subsidiary DTE Electric (DTEE), steady cash flow cost recovery on the regulated gas side, and expense management to mitigate cost headwinds. Overall, we expect DTE to maintain a funds from operations (FFO) to debt ratio in 15%-16% range beginning in 2024. The rate case outcome includes an annualized revenue increase of approximately $368 million, based on a 9.9% authorized return
