OGE ENERGY CORP

Previous wording

Completed regulatory matters affecting current period results are discussed in Note 13 within "Item 1. Financial Statements." OG&E reached an uncontested settlement agreement with the parties in the Oklahoma general rate review in June 2024 and implemented an annual interim rate increase in line with the settlement agreement, subject to refund based on final approval by the OCC. OG&E also submitted its final 2024 IRP for Oklahoma and Arkansas in March 2024.

Current wording

Completed regulatory matters affecting current period results are discussed in Note 13 within "Item 1. Financial Statements." OG&E reached an uncontested settlement agreement with the parties in the Oklahoma general rate review in June 2024 and on July 1, 2024 implemented an annual interim rate increase in line with the settlement agreement, subject to refund based on final approval by the OCC. On July 31, 2024, the Administrative Law Judge issued a report that recommended the OCC approve the settlement agreement. The settlement agreement remains subject to approval by the OCC. OG&E also submitted its final 2024 IRP for Oklahoma and Arkansas in March 2024 and is currently reviewing proposals submitted in this process.

Previous wording

OGE Energy's net income was $102.3 million, or $0.51 per diluted share, during the three months ended June 30, 2024 as compared to $88.4 million, or $0.44 per diluted share, during the same period in 2023. The increase in net income of $13.9 million, or $0.07 per diluted share, is further discussed below.

Current wording

OGE Energy's net income was $218.7 million, or $1.09 per diluted share, during the three months ended September 30, 2024 as compared to $241.9 million, or $1.20 per diluted share, during the same period in 2023. The decrease in net income of $23.2 million, or $0.11 per diluted share, is further discussed below.

Previous wording

An increase in net income at OG&E of $17.4 million, or $0.08 per diluted share of OGE Energy's common stock, was primarily due to higher operating revenues (excluding the impact of recoverable fuel, purchased power and direct transmission expense not impacting earnings) driven by warmer than normal weather and load growth, partially offset by higher depreciation and amortization expenses as a result of additional assets being placed into service and higher income tax expense.

Current wording

A decrease in net income at OG&E of $21.1 million, or $0.10 per diluted share of OGE Energy's common stock, was primarily due to higher depreciation and amortization expense driven by additional assets being placed into service, higher other operation and maintenance expense, higher income tax expense and higher interest expense resulting from OG&E's senior notes issuance in August 2024, partially offset by higher operating revenues (excluding the impact of recoverable fuel, purchased power and direct transmission expense not impacting earnings) driven primarily by load growth, which offset the impact of milder weather compared to last year, and higher other income.

Previous wording

An increase in net loss of other operations (holding company) of $3.5 million, or $0.01 per diluted share of OGE Energy's common stock, was primarily due to higher interest expense and lower net other income, partially offset by higher income tax benefit.

Current wording

An increase in net loss of other operations of $2.1 million, or $0.01 per diluted share of OGE Energy's common stock, was primarily due to higher interest expense driven by OGE Energy's senior notes issuance in May 2024, partially offset by a higher income tax benefit.

Previous wording

OGE Energy's net income was $120.9, or $0.60 per diluted share, during the six months ended June 30, 2024 as compared to $126.7 million, or $0.63 per diluted share, during the same period in 2023. The decrease in net income of $5.8 million, or $0.03 per diluted share, is further discussed below.

Current wording

OGE Energy's net income was $339.6 million, or $1.69 per diluted share, during the nine months ended September 30, 2024 as compared to $368.6 million, or $1.83 per diluted share, during the same period in 2023. The decrease in net income of $29.0 million, or $0.14 per diluted share, is further discussed below.

Previous wording

An increase in net income at OG&E of $2.8 million, or $0.01 per diluted share of OGE Energy's common stock, was primarily due to higher operating revenues (excluding the impact of recoverable fuel, purchased power and direct transmission expense not impacting earnings) driven by warmer than normal weather and load growth, partially offset by higher depreciation and amortization expense as a result of additional assets being placed into service, lower net other income and higher interest expense driven by increased long-term debt outstanding.

Current wording

A decrease in net income at OG&E of $18.3 million, or $0.09 per diluted share of OGE Energy's common stock, was primarily due to higher depreciation and amortization expense driven by additional assets being placed into service, higher interest expense driven by borrowings under OG&E's revolving credit agreement and senior notes issuance in August 2024 and April 2023, higher other operation and maintenance expense, lower other income and higher income tax expense, partially offset by higher operating revenues (excluding the impact of recoverable fuel, purchased power and direct transmission expense not impacting earnings) driven primarily by load growth.

Previous wording

An increase in net loss of other operations (holding company) of $8.6 million, or $0.04 per diluted share of OGE Energy's common stock, was primarily due to higher interest expense and lower net other income, partially offset by higher income tax benefit.

Current wording

An increase in net loss of other operations of $10.7 million, or $0.05 per diluted share of OGE Energy's common stock, was primarily due to higher interest expense driven by borrowings under OGE Energy's revolving credit agreement and OGE Energy's senior notes issuances in May 2024 as well as lower net other income, partially offset by higher income tax benefit.

Previous wording

OGE Energy's 2024 consolidated earnings guidance is reaffirmed and remains projected to be within a range of $2.06 to $2.18 per average diluted share. Due to strong load growth and warmer than normal weather in the first half of 2024, OGE Energy’s consolidated earnings are expected to be in the top half of its 2024 earnings guidance range. See OGE Energy's 2023 Form 10-K for other key factors and assumptions underlying its 2024 guidance.

Current wording

Due to strong load growth and warmer than normal weather, OGE Energy’s consolidated earnings are expected to be at the top of OGE Energy's original 2024 earnings guidance range of $2.06 to $2.18 per average diluted share. The guidance assumes, among other things, approval of the uncontested rate review settlement by the OCC in 2024, approximately 201.5 million average diluted shares outstanding, and normal weather for the remainder of the year. See OGE Energy's 2023 Form 10-K for other key factors and assumptions underlying its 2024 guidance.

Previous wording

The following discussion and analysis presents factors that affected the Registrants' results of operations for the three and six months ended June 30, 2024 as compared to the same periods in 2023 and the Registrants' financial position at June 30, 2024. Due to seasonal fluctuations and other factors, the Registrants' operating results for the three and six months ended June 30, 2024 are not necessarily indicative of the results that may be expected for the year ending December 31, 2024 or for any future period. The following information should be read in conjunction with the condensed financial statements and notes thereto. Known trends and contingencies of a material nature are discussed to the extent considered relevant.

Current wording

The following discussion and analysis presents factors that affected the Registrants' results of operations for the three and nine months ended September 30, 2024 as compared to the same periods in 2023 and the Registrants' financial position at September 30, 2024. Due to seasonal fluctuations and other factors, the Registrants' operating results for the three and nine months ended September 30, 2024 are not necessarily indicative of the results that may be expected for the year ending December 31, 2024 or for any future period. The following information should be read in conjunction with the condensed financial statements and notes thereto. Known trends and contingencies of a material nature are discussed to the extent considered relevant.

Previous wording

OG&E's net income increased $17.4 million, or 18.9 percent, and $2.8 million, or 2.1 percent, during the three and six months ended June 30, 2024, respectively, as compared to the same periods in 2023. The following section discusses the primary drivers for the increase in net income during the three and six months ended June 30, 2024, as compared to the same periods in 2023.

Current wording

OG&E's net income decreased $21.1 million, or 8.6 percent, and $18.3 million, or 4.8 percent, during the three and nine months ended September 30, 2024, respectively, as compared to the same periods in 2023. The following section discusses the primary drivers for the decrease in net income during the three and nine months ended September 30, 2024, as compared to the same periods in 2023.

Previous wording

Operating revenues increased $57.6 million, or 9.5 percent, and increased $97.2 million, or 8.4 percent, during the three and six months ended June 30, 2024, respectively, primarily driven by the below factors.

Current wording

Operating revenues increased $20.0 million, or 2.1 percent, and increased $117.2 million, or 5.6 percent, during the three and nine months ended September 30, 2024, respectively, primarily driven by the below factors.

Previous wording

Increased for the three and six months ended June 30, 2024 due to increased recovery through rider mechanisms.

Current wording

Increased primarily due to increased recovery through rider mechanisms, such as the Storm Cost Recovery Rider.

Previous wording

Increased primarily due to a 29.6 percent and 30.3 percent increase in cooling degree days for the three and six months ended June 30, 2024, respectively.

Current wording

Decreased primarily due to an 8.1 percent decrease in cooling degree days for the three months ended September 30, 2024.

Previous wording

Fuel, purchased power and direct transmission expense for OG&E consists of fuel used in electric generation, purchased power and transmission related charges. As described above, the actual cost of fuel used in electric generation and certain purchased power costs are generally recoverable from OG&E's customers through fuel adjustment clauses. The fuel adjustment clauses are subject to periodic review by the OCC and the APSC. OG&E's fuel, purchased power and direct transmission expense increased $12.1 million, or 6.7 percent, and $43.7 million, or 11.4 percent, during the three and six months ended June 30, 2024, respectively, primarily driven by the below factors.

Current wording

Fuel, purchased power and direct transmission expense for OG&E consists of fuel used in electric generation, purchased power and transmission related charges. As described above, the actual cost of fuel used in electric generation and certain purchased power costs are generally recoverable from OG&E's customers through fuel adjustment clauses. The fuel adjustment clauses are subject to periodic review by the OCC and the APSC. OG&E's fuel, purchased power and direct transmission expense increased $16.3 million, or 4.9 percent, and $60.0 million, or 8.4 percent, during the three and nine months ended September 30, 2024, respectively, primarily driven by the below factors.

Previous wording

Decreased during the three months ended June 30, 2024 primarily due to lower fuel costs related to the generating assets utilized during the period, and increased during the six months ended June 30, 2024 primarily due to an increase in MWhs generated related to the generating assets utilized during the period.

Current wording

Decreased during the three months ended September 30, 2024 primarily due to lower fuel costs related to the generating assets utilized during the period, and decreased during the nine months ended September 30, 2024 primarily due to lower fuel costs partially offset by an increase in MWhs generated related to the generating assets utilized during the period.

Previous wording

Increased during the three months ended June 30, 2024 primarily due to higher market prices and increased MWhs purchased, and increased during the six months ended June 30, 2024 primarily due to higher market prices.

Current wording

Increased during the three months ended September 30, 2024 primarily due to increased MWhs purchased, and increased during the nine months ended September 30, 2024 primarily due to higher market prices and increased MWhs purchased.

Previous wording

Increased during the three and six months ended June 30, 2024 primarily due to capacity agreements in order for OG&E to meet its generation requirements.

Current wording

Increased during the three and nine months ended September 30, 2024 primarily due to capacity agreements in order for OG&E to meet its generation requirements.

Previous wording

Other operation and maintenance expense increased $1.6 million, or 1.2 percent, and $2.5 million, or 1.0 percent, during the three and six months ended June 30, 2024, respectively, primarily due to an increase in various costs such as payroll and benefits, net of capitalized labor, partially offset by the timing of vegetation management activities.

Current wording

Other operation and maintenance expense increased $8.1 million, or 6.6 percent, and $10.6 million, or 2.8 percent, during the three and nine months ended September 30, 2024, respectively, primarily due to an increase in various costs such as payroll and benefits, net of capitalized labor, and software expense, partially offset by the timing of vegetation management activities.

Previous wording

Depreciation and amortization expense increased $11.4 million, or 9.2 percent, and $19.4 million, or 7.9 percent, during the three and six months ended June 30, 2024, respectively, primarily due to additional assets being placed into service and increased amortization of the regulatory assets.

Current wording

Depreciation and amortization expense increased $11.5 million, or 8.7 percent, and $30.9 million, or 8.2 percent, during the three and nine months ended September 30, 2024, respectively, primarily due to additional assets being placed into service and increased amortization of certain regulatory assets.

Previous wording

Net other income decreased $3.0 million, or 22.7 percent, and $11.7 million, or 41.1 percent, during the three and six months ended June 30, 2024, respectively, primarily due to the carrying charge for the higher fuel under recovery balance in 2023.

Current wording

Other income decreased $12.0 million, or 54.1 percent, during the nine months ended September 30, 2024, primarily due to the carrying charge for the higher fuel under recovery balance in 2023.

Previous wording

Interest expense increased $2.8 million, or 5.4 percent, and $8.5 million, or 8.7 percent, during the three and six months ended June 30, 2024, respectively, primarily due to the $200.0 million in borrowings under OG&E's revolving credit agreement during the second quarter of 2024 and, with respect to the six months ended June 30, 2024, interest expense also increased due to the $350.0 million senior notes issuance in April 2023. These borrowings were used to support OG&E's growing asset base.

Current wording

Interest expense increased $3.1 million, or 6.1 percent, and $11.6 million, or 7.8 percent, during the three and nine months ended September 30, 2024, respectively, primarily due to the $200.0 million in borrowings under OG&E's revolving credit agreement during the second and third quarters of 2024, as well as the $350.0 million senior notes issuance in August 2024 and, with respect to the nine months ended September 30, 2024, interest expense also increased due to the $350.0 million senior notes issuance in April 2023. These borrowings were used to support OG&E's growing asset base.

Previous wording

Income tax expense increased $5.9 million, or 36.4 percent, and $3.3 million, or 14.5 percent, during the three and six months ended June 30, 2024, respectively, primarily related to higher pretax income combined with a decrease in state tax credits generated and lower amortization of unfunded deferred taxes.

Current wording

Income tax expense increased $3.9 million, or 9.3 percent, and $7.2 million, or 11.1 percent, during the three and nine months ended September 30, 2024, respectively, primarily due to a decrease in state tax credits generated and lower amortization of unfunded deferred taxes, partially offset by lower pretax income.

Previous wording

Changed primarily due to OGE Energy's $350.0 million senior notes issuance in May 2024 and OG&E's $200.0 million increase in long-term revolver borrowings in April 2024, partially offset by a decrease in proceeds from short-term debt.

Current wording

Changed primarily due to OGE Energy's $350.0 million senior notes issuance in May 2024 and OG&E's $350.0 million senior notes issuance in August 2024, partially offset by a decrease in commercial paper borrowings.

Previous wording

Accounts Receivable and Accrued Unbilled Revenues increased $47.4 million, or 16.8 percent, primarily due to an increase in billings to OG&E's retail customers reflecting higher seasonal usage in June 2024 as compared to December 2023.

Current wording

Accounts Receivable and Accrued Unbilled Revenues increased $137.2 million, or 48.7 percent, primarily due to an increase in billings to OG&E's retail customers reflecting higher seasonal usage in September 2024 as compared to December 2023.

Previous wording

Short-Term Debt decreased $137.9 million, or 27.6 percent, primarily due to OGE Energy's $350.0 million senior notes issuance in May 2024, which was used to pay down short-term debt and fund general operating needs. The Registrants borrow on a short-term basis, as necessary, through the issuance of commercial paper under their revolving credit agreements.

Current wording

Short-Term Debt decreased $284.0 million, or 56.9 percent, primarily due to OGE Energy's $350.0 million senior notes issuance in May 2024 and OG&E's $350.0 million senior notes issuance in August 2024, which were used to pay down short-term debt, and decreased borrowings for general operating needs. The Registrants borrow on a short-term basis, as necessary, through the issuance of commercial paper under their revolving credit agreements.

Previous wording

Long-Term Debt due within One Year increased $79.4 million, due to the reclassification of industrial authority bonds that are scheduled to mature in January 2025.

Current wording

Long-Term Debt due within One Year increased $32.4 million, due to the reclassification of industrial authority bonds that are scheduled to mature in January 2025.

Previous wording

OGE Energy's estimates of capital expenditures for the years 2024 through 2028 are discussed in detail within "Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations" in the Registrants'2023 Form 10-K, and OGE Energy's estimates have not changed significantly at this time. The capital investments are customer-focused and targeted to maintain and improve the safety, resiliency and reliability of OG&E's distribution and transmission grid and generation fleet, enhance the ability of OG&E's system to perform during extreme weather events and to serve OG&E's growing customer base. Additional capital expenditures beyond those identified in the Registrants'2023 Form 10-K, including additional incremental growth opportunities, will be evaluated based upon the requirements of OG&E's power supply, transmission and distribution operational teams and the expected resultant customer benefits. In May 2024, OG&E issued requests for proposals for resources to meet the capacity needs identified in its 2024 IRP. OG&E intends to file for approval of generation capacity investments and would expect to update its capital plan based on final orders received by state regulators. The annual level of investments in the transmission and distribution system could vary depending on the amount and timing of incremental generation capacity investments.

Current wording

OGE Energy's estimates of capital expenditures for the years 2024 through 2028 are discussed in detail within "Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations" in the Registrants'2023 Form 10-K, and OGE Energy's estimates have not changed significantly at this time. The capital investments are customer-focused and targeted to maintain and improve the safety, resiliency and reliability of OG&E's distribution and transmission grid and generation fleet, enhance the ability of OG&E's system to perform during extreme weather events and to serve OG&E's growing customer base. Additional capital expenditures beyond those identified in the Registrants'2023 Form 10-K, including additional incremental growth opportunities, will be evaluated based upon the requirements of OG&E's power supply, transmission and distribution operational teams and the expected resultant customer benefits. In May 2024, OG&E issued requests for proposals for resources to meet the capacity needs identified in its 2024 IRP and is currently reviewing the proposals submitted in this process. OG&E intends to file for approval of generation capacity investments and would expect to update its capital plan based on final orders received by state regulators. The annual level of investments in the transmission and distribution system could vary depending on the amount and timing of incremental generation capacity investments.

Previous wording

The following table presents information about OGE Energy's total short-term debt activity for the three and six months ended June 30, 2024.

Current wording

The following table presents information about OGE Energy's total short-term debt activity for the three and nine months ended September 30, 2024.

Previous wording

OG&E must obtain regulatory approval from the FERC in order to borrow on a short-term basis. OG&E has the necessary regulatory approvals to incur up to $1.0 billion in short-term borrowings at any one time for a two-year period beginning January 1, 2023 and ending December 31, 2024.

Current wording

OG&E must obtain regulatory approval from the FERC in order to borrow on a short-term basis. OG&E has the necessary regulatory approvals to incur up to $1.0 billion in short-term borrowings at any one time for a two-year period beginning January 1, 2023 and ending December 31, 2024. OG&E has requested renewal of this authority for an additional two-year period and expects to receive approval prior to the expiration of its current authority.

Previous wording

In July 2020, the ODEQ notified OG&E that the Horseshoe Lake generating units would be included in Oklahoma's second Regional Haze implementation period evaluation of visibility impairment impacts to the Wichita Mountains. OG&E submitted an analysis of all potential control measures for NOx on these units to the ODEQ. The ODEQ submitted a revised SIP to the EPA on August 12, 2022. On June 28, 2024, the EPA entered into a consent decree which would require the EPA to propose action on the Oklahoma SIP no later than December 31, 2025 and take final action no later than December 31, 2026. It is unknown at this time what the outcome, or any potential material impacts, if any, will be from the evaluations by OG&E, the ODEQ and the EPA.

Current wording

In July 2020, the ODEQ notified OG&E that the Horseshoe Lake generating units would be included in Oklahoma's second Regional Haze implementation period evaluation of visibility impairment impacts to the Wichita Mountains. OG&E submitted an analysis of all potential control measures for NOx on these units to the ODEQ. The ODEQ submitted a revised SIP to the EPA on August 12, 2022. On June 28, 2024, the EPA entered into a consent decree which requires the EPA to propose action on the Oklahoma SIP no later than December 31, 2025 and take final action no later than December 31, 2026. It is unknown at this time what the outcome, or any potential material impacts, if any, will be from the evaluations by OG&E, the ODEQ and the EPA.

Previous wording

On April 25, 2024, the EPA released the final revised Mercury and Air Toxics Standards regulation with a compliance date in May 2027. On May 8, 2024, a coalition of states, including Oklahoma, filed a challenge to the final rule in the D.C. Circuit Court and on June

Current wording

On April 25, 2024, the EPA released the final revised Mercury and Air Toxics Standards regulation with a compliance date in May 2027. On May 8, 2024, a coalition of states, including Oklahoma, filed a challenge to the final rule in the D.C. Circuit Court and on June 7, 2024 filed a motion to stay the final rule which was ultimately denied. Subsequently, this coalition of states filed an emergency stay application with the U.S. Supreme Court on August 16, 2024. The U.S. Supreme Court denied the applications on October 4, 2024. It is unknown what potential material impacts, if any, will be from the final action by the EPA.

Previous wording

Significant litigation is underway, including a challenge by OG&E and a multi-state challenge joined by Oklahoma. On May 24, 2024, several groups of petitioners, including OG&E, which joined with Edison Electric Institute and three other declarants, filed motions for stay of the rule at the D.C. Circuit. The Court consolidated these motions and on July 19, 2024, denied all stay requests. On July 29, 2024, OG&E, jointly with Edison Electric Institute and another applicant, appealed the stay denial to the U.S. Supreme Court. Other industry and state petitioners, including Oklahoma, appealed the D.C Circuit's stay denial to the U.S. Supreme Court as well. The timing of a Supreme Court decision is unknown at this time. It is unknown what the outcome of the litigation will be, or potential material impacts, if any, it will have on these new emission standards and guidelines, but the Registrants continue to plan for compliance.

Current wording

On May 24, 2024, several groups of petitioners, including OG&E, which joined with Edison Electric Institute and three other declarants, filed motions for stay of the rule at the D.C. Circuit. The Court consolidated these motions and on July 19, 2024, denied all stay requests. On July 29, 2024, OG&E, jointly with Edison Electric Institute and another applicant, appealed the stay denial to the U.S. Supreme Court. Other industry and state petitioners, including Oklahoma, appealed the D.C. Circuit's stay denial to the U.S. Supreme Court as well. On October 16, 2024, the U.S. Supreme Court denied the stay request. The litigation on the merits, as referenced in the paragraph above, will continue at the D.C. Circuit. It is unknown what the outcome of the litigation will be, or potential material impacts, if any, it will have on these new emission standards and guidelines, but the Registrants continue to plan for compliance and, if the new emission standards and guidelines are implemented as adopted, such compliance costs would be material.

Previous wording

On September 14, 2022, the USFWS published a proposal to list the Tricolored Bat as endangered under the Endangered Species Act. According to the proposal, the current known range of the Tricolored Bat extends to 36 states, including Oklahoma and Arkansas. A listing decision is expected by September 2024. OG&E is closely monitoring this issue due to possible future impacts; however, it is unknown at this time what, if any, material impacts will result from the USFWS action.

Current wording

In September 2022, the USFWS published a proposal to list the Tricolored Bat as endangered under the Endangered Species Act. According to the proposal, the current known range of the Tricolored Bat extends to 36 states, including Oklahoma and Arkansas. A listing decision was expected by September 2024, however, to date no listing decision has been issued. OG&E is closely monitoring this issue due to possible future impacts; however, it is unknown at this time what, if any, material impacts will result from the USFWS action.

Previous wording

During 2023, approximately 94 percent of the ash from OG&E's River Valley, Muskogee and Sooner facilities was recovered and reused in various ways, including soil stabilization, landfill cover, road base construction and cement and concrete production. Reusing fly ash reduces the need to manufacture cement resulting in reductions in greenhouse gas emissions from cement and concrete production. Based on estimates from the American Coal Ash Association, OG&E fly ash reuse helped avoid over 3.5 million tons of CO 2 emissions in the last 16 years.

Current wording

During 2023, approximately 94 percent of the ash from OG&E's River Valley, Muskogee and Sooner facilities was recovered and reused off-site in various ways, including soil stabilization, landfill cover, road base construction and cement and concrete production. Reusing fly ash reduces the need to manufacture cement resulting in reductions in greenhouse gas emissions from cement and concrete production. Based on estimates from the American Coal Ash Association, OG&E fly ash reuse helped avoid over 3.5 million tons of CO 2 emissions in the last 16 years.

Previous wording

In 2015, the EPA issued a final rule addressing the effluent limitation guidelines for power plants under the Federal Clean Water Act. The final rule establishes technology- and performance-based standards that may apply to discharges of six waste streams including bottom ash transport water. On April 12, 2017, the EPA granted a Petition for Reconsideration of the 2015 Rule. On April 25, 2024, the EPA released the final supplemental effluent limitations guidelines rule. OG&E has completed installation of dry bottom ash handling technology at an affected facility and is evaluating options at another affected facility to comply with the final rule by the December 31, 2029 compliance date.

Current wording

In 2015, the EPA issued a final rule addressing the effluent limitation guidelines for power plants under the Federal Clean Water Act. The final rule establishes technology- and performance-based standards that may apply to discharges of six waste streams including bottom ash transport water. In April 2017, the EPA granted a Petition for Reconsideration of the 2015 Rule. On April 25, 2024, the EPA released the final supplemental effluent limitations guidelines rule. OG&E has completed installation of dry bottom ash handling technology at an affected facility and is evaluating options at another affected facility to comply with the final rule by the December 31, 2029 compliance date.