Ironically, it is the backward dated nature of the forward curves that should keep new thermal generation on the sidelines in ERCOT and to some extent, renewables. Furthermore, as renewables build out in the West, there'll be congestion and discounted pricing, further inversely impacting newbuild economics. Notably, Vistra is a net long generator, carrying at least 1,200 megawatts of length into the important summer months, some of which is used as a physical insurance against swings in retail load or to protect against an unplanned outage in our generation fleet. The physical length we hold as insurance and keep unhedged in the summer is critical to minimizing our risk profile and reducing our exposure to the $9,000 megawatt hour price caps in ERCOT, which is an advantage we have over the many retailers who must manage their volatile ERCOT summer short position without physical assets.