Like, w- what does y- the, the audience of other, uh, of anybody listening here, it's gonna be other people in the sector, it's gonna be investors, it's gonna be people who are technologists looking to sell into the world of electricity, what do they need to know about California in general, and what do they need to know specifically about Southern California Edison and its territory?

I'll start high level.

Uh, I love the state.

Uh, I've spent more time here in my life than anywhere else.

I came here to get my graduate degree.

Um, I actually chased a Californian I had met in college back east, and we got our graduate degrees together, and then we stayed.

Uh- Raise our kids here, and I love the diversity of the state in every sense, geographic, population.

That's right

What is the issue? Is it that Californians feel that they're paying for your liability protection? Do you know how much they might be paying? Because what happens to you and your competitors if you don't have a cap on that liability? Literally, what are your options for the next year or two?

Well, Kelly, I think you're seeing that in what the credit rating agencies are doing, right? So today, Southern California Edison and EIX are at the lowest possible investment grade credit ratings.

Fitch last week just changed our outlook to negative.

And ultimately, this is not just a shareholder issue.

This is a customer issue because that is driving the cost of debt up.

And the cost of debt is something that is passed straight through to our customers.

And so this could mean hundreds of millions of dollars or more in cost exposure for customers if the framework isn't addressed.

When it comes to fire, flooding, I mean, what are the priorities policy-wise going into this week? Well,