The Washington policy-makers’ focus on development of a “smart grid” opens the door for us to provide our customers the means to use technology to become even more energy efficient in their homes and businesses. We have been a national leader for more than 20 years in providing conservation and energy efficiency products and services to our customers. We fully plan to continue our leadership role in helping our customers save energy and money. Again, we need legislative changes to permit this, but we believe we can be successful in working with legislators to make this a reality.

All of the investments we need to make require access to capital, and today that is proving to be limited. Access is supported by maintaining our investment-grade rating and continuing to pay our dividend at its current level. Our plans are designed to achieve both goals and provide appropriate service levels to customers.

In 2008 our earnings per share from continuing operations was $1.93. That is an increase of three percent over 2007, a period during which sales declined 3.7 percent. This would be an excellent result at any time, and even more so given the current economic environment. We received the Edison Electric Institute’s 2008 award for the highest total shareholder return over a five-year period for a small-cap utility, and we look forward to delivering future competitive returns to you, the shareowners.

Our people are dedicated and resourceful and are to be congratulated for their achievements during the past year. I have every confidence in their ability to accomplish our goals by continuing to provide excellent customer service and top quartile returns to our shareowners.