So we have constructive recovery in place for much of APS’ CapEx, minimal annual spend is expose to regulatory lags, the right graph depict CapEx by major recovery mechanism.We expect about 80% of our cash flow over this or CapEx over this timeframe will be recovered either through mechanisms currently in this last rate case of 45% or 35% by depreciation cash flow. And so we’ll talk more about the recovery mechanisms and the projects more detail in the minute.
Pinnacle West's Management Present At 2012 Barclays Capital CEO Energy-Power Conference (Transcript)
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