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#Well, first of all, I would say this.
We're not afraid of any audit of JCP&L's operations.
I am confident that when they do this review they're going to see a JCP&L that is much different than the JCP&L they saw the last time that they did a review.
The reason for it is as a result of the 2011 and 2012 storms.
There were reliability issues that kind of crept into the rate case and there was no adequate mechanism within the rate case to deal with the reliability issues so coming out of the rate case this is a way to kind of put those reliability issues behind us and position us, as I said, where we can now work with the BPU to move forward together.
First of all it was ATSI that we filed for, not TrAIL.
We got to wait to see where we come out on these initiatives that <UNK> talked about, <UNK>.
We have some significant opportunity in the cash flow improvement project that <UNK> talked about.
And then a couple of the other big items that we're still looking at the capacity performance and the PPA.
We don't have any plans right now to term any of that debt out.
We will continue to look at it.
The first quarter's a little bit unusual from cash flow output.
We generally pre-pay our Pennsylvania gross receipts tax.
That's about $170 some million.
We had a pension contribution that we made in the first quarter.
Ohio property taxes are due in the first and third quarter and generally our benefit plan pads are in the first quarter.
So it's a bits of an abnormal.
I would expect that over the rest of the year we would not see that balance to grow.
In fact, we may reduce that somewhat.
But we will continue to look at whether it makes sense to term any of it out.
I would prefer, as time goes on, to push that further down into the business units, have the debt closer to the asset, but I think we've got to wait to see where we come out on some of these initiatives before we make that final decision.
<UNK>, we made that decision a number of years ago to record any changes in actuarial assumptions on a mark-to-market basis.
In our ongoing operating results we have all of the service costs in there and then just any changes in the actuarial assumptions and the biggest piece of that is generally the change in the discount rate which has fallen over the what few years.
So, we have no intention of changing the way we report our pension and our operating earnings going forward, but we fully break that out and let you know what the discount rate is and the actual return on the assets.
Well, I would say this.
We're always in discussions with the parties that are intervening and we're not in discussions with the commission because we can't be and when we have something to tell you, we'll tell you.
Well, what I ruled out is anything that would have a negative impact on our regulated growth strategy.
So we just had rate cases in a number of our operations.
It it would be counter productive there if we're looking at going forward and making additional investments inside those utilities.
What I ruled out is, I used transmission as an example, but what I have a ruled out is anything that impacts our regulated growth strategy.
Hi <UNK>.
Good morning.
Well, why don't I let Donny take it but as I have told you, our goal is to run the competitive business overall a little more conservatively so that we can have predictable results and that's what we're trying to achieve and obviously what I talked about is the fact that last year there was a polar vortex.
This year in February there was what they termed a Siberian express which was actually more severe weather and a higher PGM peak load.
And I think that we were able to capitalize on some of that weather improvement that we get on the utility side by doing what I said, and that is operating our generating business much more conservatively and part of that is we're not going to dispatch units into a price that they don't make money if we can avoid doing that.
So, Donny, do you want to fill in any details.
Okay.
Well, I think that was the last question so we want to thank you all for your support.
Obviously, I think we had a pretty good quarter.
It was influenced by the weather and I'm not going to take credit for the weather because we've got July and August coming and if it goes the other way I'm not going to take blame for the weather either.
But it was a good start to the year.
If you dig down below that our operational performance was right on schedule with what we're trying to accomplish and I know one quarter doesn't make a trend, but you have to start with one before you can get to 10 or 12.
So that's our game plan and we thank you all for your support.
