So how did you determine whether data centers were actually influencing electricity rates rather than simply locating in places where electricity rates were already less expensive?

Right, yeah.

So let's stay with correlation for a minute before getting into causation.

So what we can see in the data and what other folks have published on also is that the recent trends in load growth from commercial and industrial sources are generally negatively correlated with prices.

So that is just that prices relative to the average state, for example, are lower in places where load has increased and also commercial load has not increased everywhere.

And so as you correctly pointed out, the reason why that would not necessarily be causation is because people who are building these data centers have a choice of where to locate.

And so they might be thinking about electricity rates.

Asa, why don't you go first?