Good morning, ladies and gentlemen, and welcome to Enel Chile nine months and third quarter 2023 results conference call. My name is Victor, and I will be your operator for today. At this time, all participants are on listen only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 11 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star one one again. Please be advised that today's conference is being recorded. During this conference call, we may make statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements reflect only our current expectations, are not guarantees of future performance, and involve risks and uncertainties. Actual results may differ materially from those anticipated in the forward-looking statements as a result of various factors. These factors are described in Enel Chile's press release, reporting its nine months and third quarter 2022 to 2023 results. The presentation accompanying this conference call and Enel Chile's annual report on Form 20-F, included under risk factors. You may access our nine months and third quarter 2023 results press release and presentation on our website, www.enel.cl, and our 20-F on the SEC's website, www.sec.gov. Readers are cautioned not to place undue reliance on those forward-looking statements which speak only as of their dates. Enel Chile undertakes no obligation to update these forward-looking statements or to disclose any development as a result of which these forward-looking statements become inaccurate, except as required by law. I would now like to turn the presentation over to Mrs. Isabela Klemes, Head of Investor Relations of Enel Chile. Please proceed. [Foreign language]. Good afternoon, and welcome to Enel Chile third quarter and nine months 2023 results presentation. Thank you all for joining us today. Joining me this morning is our CFO, Giuseppe Turchiarelli. Our presentation and related financial information are available on our website, www.enel.cl, in the Investor Relations section, and as well in our app, Investors. In addition, a replay of the call will be soon available. At the end of the presentation, there will be an opportunity to ask questions via phone or webcast chat through the link, Ask a Question. Media participants are connected only in listening mode. In the following slides, Giuseppe will open the presentation with our key highlights of the period, then go through our portfolio management actions and market context updates, and finally, give us a view of the business, economic, and financial performance. Thank you for your attention, and now let me hand over to Giuseppe. Giuseppe? Thank you, Isabela. Good afternoon, and thanks for joining us. Let's start our presentation with our main highlights on slide two. I would like to start with our portfolio management highlight. During the year, we added around 400 MW of new renewable energy capacity, contributing to our long-term ambition of decarbonization and optimization of our portfolio. We are pleased to announce that the Arcadia transaction was concluded last October 24, 2023. The proceeds total $556 million and shall be used for also for deleveraging and CapEx needs of our business. Let me remind you that the operation involves the selling of four non-strategic solar power plants, amounting to 416 MW. We will give you more color in the next slide. This year, we had a very positive rainy season in the country, the rainiest year in the last few years. This is reflected in a 28% increase in our hydro production versus last year. For what concern the market context on the distribution business, the final technical report of the VAD 2020-2024 has been already published. The process is not yet concluded, but I will give you more color on this later. Regarding the factoring of phase II, in August 2023, we received the first tranche of IDB issue related to the Enel Distribución Chile and Enel Green Power Chile of around $330 million. During October, we were able to collect an additional $17 million, and we expect to receive an additional $32 million by the end of this year. Again, about the PEC, I would like to mention that the government signed an agreement with the Congress, based on which a draft bill should be presented during November to address sector-relevant topics. Specifically, a solution related to a potential new price stabilization mechanism. Also, in November, the government committed itself to presenting another draft bill to discuss topics such as the transmission planning process, storage, adoption, and renewable support. Having said this, our EBITDA rose, reaching $783 million, or 60% higher compared to last year's adjusted figure... and our FFO increased by $790 million versus last year's figures, showing an important recovery. We will have a deep dive into the economics and financials later. Now, let's move to slide three. Let's now look at how we are consolidating our renewable leadership and optimizing our generation portfolio mix. During the last year, we have focused most of our efforts on developing a diversified renewable mix, matrix, in line with our decarbonization strategy, and we are reaching the final stage of several process, projects, either in the north or in the central south region. In this nine-month period, we connected almost 0.4 GW additional net capacity, of which 0.3 GW were added in the last quarter. Among the projects already connected in this period, I would like to call attention to Manzano, a 99 MW solar power plant located very close to the consumption load in the center of Chile, and our wind farm in the south, Renaico II and La Cabaña, which allow us to connect 72 and 106 MW of wind capacity to the national electricity system. Therefore, our renewable capacity continue increasing, and in this, this period, we have reached 6.7 GW out of 8.8 GW of renewable installed capacity, representing 77% of the total. In terms of COD, we have received the operational commercial certificate for 1.2 gigawatts in 2023 for projects like Renaico II, Campos del Sol, Guanchoi, Valle de los Vientos, and Finis Terrae. For more details, please see the annex. As a part of our unlocking value goal, focused on optimizing our portfolio, reinforcing the value of our assets, an important milestone was achieved a few days ago. We completed the sales of our subsidiary, Arcadia, a transaction that was announced in July and was foreseen in our 2023-2025 strategic plan. All the conditions established for this kind of transaction were finally fulfilled, including the approval from the Chilean antitrust authority, Fiscalía Nacional Económica. In line with the agreement, the buyer, Sonnedix, paid a total amount of $556 million. We expect to record a positive impact in both our net income of around $160 million and our net debt of around $550 million in the first quarter of 2023. Regarding the latter, I would like to point out that the tax corresponding to the sales of Arcadia, that totals around $61 million, will be paid in April 2024, and therefore, it will not affect the 2023 cash flow. This sum will give us more room to execute our CapEx plan and strengthen our financial position. Now, on the next slide, let's look at some updates on the hydrological situation and gas optimization activities. I would like to highlight that this year, we have benefited from the very favorable hydrological conditions. Hydro production has been higher than in 2022, both in the Q3 and nine months period. As of September, we record 38% of additional hydro production, reaching 8.1 TWh. Considering this scenario, we expect to close the year with around 11.9 TWh, 2.6 TWh more than expected. As a result of the significant increase in rainfall, the hydrological situation in all our reservoirs is positive, especially in the south of the country. Rainfall exceeded the hydrological level of the last 10 years, and in Laja and Rapel basins, the average level of hydrology of the last 60 years were surpassed. In addition, as you can see on the image at the center of the slide, snow cover in the mountains is better than last year in Maule and Laja areas. Regarding our gas optimization activity and trading action, we continue having a comfortable gas availability, thanks to the long-term LNG agreement with Shell, and the contract signed with the Argentine gas supplier. Since October 1, new firm agreement with Argentine gas supplier for up to 4 million cubic meters per day, started to operate until the end of April 2024, enabling us to optimize our CCPP generation cost. Thanks to the availability of Argentine gas in the central zone, we continue carrying out LNG swap to the northern zones, where natural gas is not available. In this nine-month period, we diverted several gas shipments to the north, totaling around 12 TBtu. In addition, we continue executing several trading activities with local, industrial, and mining customers, and with foreign markets. In connection with the latter, we have scheduled the sale of two ships in the Q4, as we did in the Q1 this year. The total expected contribution margin for all this gas trading will be around $270 million, approximately, for the full year 2023. Now, on page five, let's review our performance and new initiatives in distribution and analysis business. Let me highlight some indicators related to the distribution business. In our concession area, the number of customers and distributed energy continue to grow, therefore, new opportunities and challenges continue to arise. On quality and efficiency, looking at the last 12 months, we see a significant improvement in the SAIDI index of around 12 million, and the energy losses have remained flat versus the same period last year. Before moving to analyze on the distribution side review, the final technical report of the VAD 2020-2024 has already been published. This report already considered the several discrepancies raised by the distributor during the expert panel stage. However, we are still waiting for the task breakdown by type of planning, which should be published by the end of this year. After that, we have a new stage of the process, the rentability check. In this stage, the industry rentability will be reviewed. After all this process, we would like -- we would have the final distribution title released. Considering all the steps I've mentioned, we expect to have the process concluded during 2024. For what concerns the 2024-2028 distribution tariff process, the VAD process has already started, and the components of the aggregated value of the distribution for the 2024-2028, and services costs for this new regulatory period have been already defined. The process is still ongoing, so next year we shall have more updates on the matter. Regarding Enel X, we have some interesting milestone focus on the electrification and decarbonization of our clients' energy consumption, which in the period. Let me go through some examples. First, we have incorporated 2,200 e-buses into the bus, into the Santiago fleet, or 36% higher than the previous year figures, mainly through 358 new e-buses of Transantiago five, to support public transportation, and through the agreement signed with GORE, to deliver another 214 e-buses. Second, regarding public lighting, the indicator rose by 18%, mainly as a consequence of new contracts signed with Maipú and Castro Municipal. To conclude, we continue working to increase the number of public and private charging points for the electric vehicles, and to be awarded with more lighting projects throughout the country, increasing, in this way, the electrification of the market. Now, let me drive you through the financial performance of our business on slide six. I will begin summarizing our main results for the period. To better evaluate our company earnings performance, we present the 2022 figures as a pro forma that includes two main adjustments. First, the EBITDA has been adjusted by the impairment of coal stock, totaling $63 million in the nine-month period of 2022, and $1 million in the third quarter of 2022. This adjustment affected the bottom line of $43 million in the nine-month period, and $0.4 million in the third quarter, 2022. The second adjustment, and the most relevant one, is related to the sales of Enel Transmission in December 2022. We excluded from our analysis the EBITDA of Enel Transmission, which amounted to $77 million in the nine-month period, and $24 million in the third quarter, 2022. This adjustment affected the bottom line by $46 million, and $16 million in the nine-month period, and the Q3, respectively. Now, on the FFO, the 2022 figures are adjusted also by the Enel Transmission perimeter in terms of cash, by $18 million in the nine-month period, and $16 million in the third quarter. The 2023 figures also excluded $310 million paid in tax.... due to the capital gains obtained from the Enel Transmission sale. Considering this, let's see how the earnings indicator and the FFO performed. In the nine-month period, and the third quarter of 2023, we see a relevant improvement in the EBITDA and net income versus 2022. This is mainly explained by a more efficient generation mix, especially during the last quarter, due to the improvement in the hydrological situation and better distribution performance. We will see more details in the following slide. Regarding the FFO, the 2023 figures show a relevant improvement, impacted mainly by the EBITDA of this period and by the effect to factoring first tranche execution for around $303 million. We will see more details later. Let's review the progress on CapEx on Slide 7. Our nine-month 2023 total CapEx reached $537 million. 74% of our total CapEx deployment was related to renewables, and 94% of the total CapEx was linked to the SDG goals. Customer CapEx totaled $64 million, 18% higher than the previous year, mainly associated with the new customer connections. Other investments reached $102 million, 13% lower than previous year, mainly due to lower maintenance activity in conventional generation plants and distribution business. This effect was partially offset by new renewable plants in operation and the maintenance program in Brazil. Development CapEx reached $381 million, representing a decrease of 34% versus last year's figures, in line with the remaining renewable portfolio under construction. Let's move now to slide eight, where we have the summary of the third quarter EBITDA breakdown, accounting for $391 million. First of all, let me remind you again, the changes in the company consolidation perimeter, mainly due to the sales of Enel Transmission Chile in December last year. We have included a pro forma of our EBITDA for the Q3 2022 for comparison purposes. Third quarter 2023, EBITDA is $162 million higher than the 2022 pro forma, mainly explained by the following: a positive effect in hydro and renewable contribution of $149 million to our margin, mainly associated with the improved hydrology in the quarter, and the positive effect of $132 million of variable costs, mainly by a lower wholesale spot price in the quarter, as a consequence of a better hydrology in the period. The above-mentioned effects were partially offset by a lower gas optimization activity, which decreased by $109 million, mainly related to the lower gas margin prices and lower gas trading volume of 3.3 TWh, which is equivalent to one cargo of LNG, approximately, when compared to the same quarter last year. $36 million for lower PPA sales in the Q3 2023, primarily due to lower average PPA price, mainly related to the devaluation of Chilean pesos versus US dollar in both free and regulated market, and also lower commodity indexation in the regulated market. The remaining variation of our EBITDA come from, +$60 million due to the grid remuneration related to the indexation, client required services, lower fines and compensation, partially offset by lower demand. Better effects in OpEx and other costs, mainly by the financial hedging in the quarter and higher effects in Enel X, due to the recognition of Transantiago e-buses. Let's move to slide nine, where we have the summary of the 9-month EBITDA breakdown, accounting for $783 million. As we did in the third quarter, we are excluding the 2022 EBITDA of Enel Transmission for comparison purposes, and for a better understanding of the 2023 results. Energy field EBITDA increased by 60%, or $293 million, mainly explained by the higher contribution of hydro and renewables of $172 million, mainly related to the improved hydrology volume. $98 million from higher PPA sales in nine months 2023, primarily due to $37 million of higher average PPA price, mainly related to the indexation. $38 million, mainly due to the higher capacity payment revenue, primarily due to two factors. First, delay in the COD of some market renewable projects, which increased the payment for all the projects in operation. And second, the new power plants connected and commissioned during the last quarter of 2022 and within 2023. A better effect of $17 million in variable cost, mainly related to $162 million, related to a lower spot price in the period, due to a better hydrology since June 2023, mainly during the non-solar hour, and one of effects of the agreement with one of our PPA suppliers. Partially offset by lower thermal generation margin, which amounted to $144 million, mainly related to the lower thermal generation. The remaining variation of our EBITDA comes from +$24 million to grid remuneration related to the indexation, lower fines and compensation, and higher demand. The above mentioned effects were partially offset by higher OpEx and other, mainly in generation business, by $20 million, associated with the new renewable capacity and inflation across all the business. Let's move now to slide 10 to take a look at our generation KPI. Net electricity generation totaled 17.6 TWh as of September 2023. 6% higher than the level recorded in the first nine months period of 2022, mainly due to higher hydro and solar generation this year, reflecting better hydrology and the addition of new projects, respectively. This also offset the lower thermal dispatch, mostly related to the disconnection of Bocamina II in September 2022. During the third quarter of 2023, net generation grew 11% to 7 TWh, mainly due to higher hydro and solar generation. Our energy sales totaled 23.2 TWh as of September 2023, maintaining the levels recorded as of September 2022. It is worth mentioning that our commitments with our clients were fulfilled with a higher portion of our renewable generation, which also led to lower energy purchases, especially in the spot market, mainly in non-solar hours. During the third Q 2023, physical sales increased by 0.4% to 7.8 TWh, mainly due to the higher sales to large customers. Let me call your attention to the fact that we ended up a net seller in the spot market during the third quarter 2023, mainly associated with a much better than expected hydro for the period. Now, on slide 11, let's go through the main driver of our group net income. Our net income increased 87%, to $336 million as of September 2023, when compared to September 2022, mainly resulting from a greater EBITDA of $293 million, as I explained previously. This nine-month period, we had a higher depreciation and amortization of $12 million, mainly as a result of our new renewable projects in operation, which is compensated by lower depreciation in energy generation, mainly as a consequence of new investment in power plants that increase the average useful life of the project, plants, and equipment. A higher amortization of intangible assets in energy distribution, partially compensated by lower bad debt, mainly related to the client debt recovery due to several commercial actions. Regarding financial results and equity investment, we had a higher result than the previous year by $23 million. This is explained by lower financial costs associated to lower factoring executed in the period versus 2022, mainly due to the PEC One factoring, interest income related to the PEC Two, better contribution of non-controlled assets. Higher income tax that increased by $143 million. This is mainly explained by higher earnings before tax results, monetary adjustments, and provision related to the classification of the investment in Arcadia and held for sale. In this quarter of 2023, net income increased 85% to $197 million, primarily explained by higher EBITDA, as detailed in the previous slide, higher depreciation and amortization of $11 million is mainly explained by the generation business, due to the new renewable energy project in operation. Higher financial results and equity investment of $24 million. This is explained by two positive effects. First, we had higher financial income in the third quarter, mainly explained by the greater interest income related to the implementation of target stabilization mechanism in PEC Two. Second, we had lower factoring costs in comparison to the previous quarter. This was partially offset by higher debt interest. Higher income tax that increased by $53 million. This is mainly explained by the higher earnings before tax result, monetary adjustment, and provision related to the classification of the investment in Arcadia, as held for sale. Moving to the FFO analysis on the next slide. Let's review in detail our FFO for this period. As I mentioned before, in 2023, the pro forma FFO excludes $310 million paid in taxes, due to the capital gains obtained from the energy transmission sale. Therefore, after this adjustment, FFO amounts to $428 million, reflecting an improvement of $790 million when compared to last year's pro forma figure. The main aspects that explain our FFO in this period are the following: $783 million coming from EBITDA, driven by the strong hydrology contribution and better results in the distribution business. $327 million negative impact on the cumulative stabilization mechanism affecting our receivables, reducing the cash conversion of the period. This situation has been improved by the impact of the first tranche of the IDB factoring issuance, which amounted to $329 million. As I have already mentioned, we have already received additional $17 million as a second tranche during October, and we are expecting to receive additional $35 million until the end of this year. Working capital reached a negative balance of $190 million as a consequence of the EVA payment, the key payment related to the stabilization mechanism account, IVACE payment, partially offset by cash management action, and cash-in from the sales of Santa Rosa business. Working capital improvement, once compared to the last year's figures, mainly comes from the sales of Santa Rosa and other managerial actions. Income tax reached $17 million, mainly related to the payment, tax payment in generation business in the nine months of 2023, offset by the tax recovery from the previous period for both generation and distribution business contribution. Once compared to the income tax paid in 2023 versus last year, the main difference comes from the tax recovery from previous periods obtained during this year. To conclude, regarding financial expense, we reached $220 million. This is explained mainly due to the debt interest related to the average interest rate of the gross debt for 4.9%. That reflects also the new interest due associated to the revolving credit facility. Once we compare the 2023 financial expense with the last year's figures, we see an increase also explained by the higher average interest rate on the gross debt, and the monthly payments related to the revolving credit facility as an average instrument for the PEC two delay. Now, let's take a look at our liquidity and leverage position. Our gross debt increased around $0.3 billion to $4.9 billion as of September 2023, compared to December 2022. This increase was primarily related to the tax payment related to the energy transmission sale in April 2023, and other net working capital needs. It should be noted that the debt increase is a temporary effect, as we received the proceeds from sales of Arcadia assets on October 24. Also, our cash generation will likely improve, in line with our operational performance and lower capital CapEx requirements. Hence, we expect a net debt to EBITDA of below 3x by the end of 2023. The average of our debt maturity reached 5.7 years as of September 2023, maintaining the largest portion of, at the fixed rate with 77% of the total debt. The average cost of our debt reached 4.9%, higher than December figures, mostly owing to the new profile of our debt, the financial market condition, the prepayment of some short-term instrument. Now, the closing remarks on page 14. The 9-month results show a solid operation, operating performance. The elements that we have now, catalyzed by better than expected hydrology and the full natural gas availability during this year, boosted our results, giving us more confidence to achieve the upper range of our 2023 EBITDA guidance, as mentioned during the last call. As planned, we successfully concluded the Arcadia transaction last October 24. The proceeds of this transaction and the continuous improvement of our financial position allow us to leverage our strong positioning in the energy transition context, and explore the opportunity that will materialize. Finally, we would like to invite you to our Investor Day, which will take place at the end of November, on which we will present our strategic plan update for the period 2024-2026, given the most updated strategic and financial figures for our perimeter and business. Let me now hand over to Isabela. Thank you very much, Giuseppe. Now, we will open the Q&A section, so you can ask questions through the chat or through the audio. Victor, could you please open the line for the next question that we have? Yes. And as a reminder, to ask a question, please press star one one on your telephone and wait for your name to be announced. And to withdraw your question, just press star one one again. One moment for our first question. Our first question comes from the line of Javier Suárez from Mediobanca. Your line is open. Hi, good morning, and thank you for the presentation. Two or three questions. The first one is on one of the latest comments on the net debt to EBITDA by the end of the year, that should be around three times. You are mentioning also that you will dedicate the closing of the Arcadia deal to reduce that. So the question is, how do you see the optimal level of net debt to EBITDA for a company like Enel Chile? Is that three times the level that you see as sustainable or optimal for a company like yours in current environment? That would be the first question. The second question is regarding related to your statement on the proposal by the government in November on a measure to for the development of transmission asset, storage facilities, and new renewable energy asset. You can share with us your latest expectations based on latest conversation with the administration, or what which may come out from that proposal. And then the third question is just a clarification again, on the cash flow statement. We have seen a very good contribution from the factoring process, the first round. If you can help us to understand, in your net debt to EBITDA guidance at 3x, what you are expecting to collect from that factoring exercise. Thank you. Thank you, Javier, for the question. Now, I'll hand over to Giuseppe. Okay. Well, for what concern the net debt to EBITDA level, we believe that being below 3x is a comfortable level for the company. It really give us the opportunity to possibly invest in the future. But in general, our target is to be below 3x, between 2.5 and 2.9, something like that. For what concern the proposal made by the government and the commitment that the government takes versus the Congress. Well, let me say that it is clear that the fund of PEC Two is going to be used entirely by the end of this year. So basically, now the point is how to handle the increase of tariff according to the situation that we see today. The government postponed the submission of the draft that was supposed to be by the end of October and postponed during this month in November. We believe that at least the proposal could be in line with our expectation, in the meaning that we hope that everything is going in a positive way, so it's going to be neutral for the company. Now, we're gonna see how the Congress will receive the feedback, and how the Congress could change the proposal of the government. But so far, we don't have any other detailed information about this point. We are confident, but we don't have yet anything else of that. For what concerns the PEC, the factoring of PEC two, we started to factor the PEC two in. And the first tranche was at the end of August. As I said, we already made a second part in October, about $17 million, and we believe we have another part that is around $40 million at the end of December 2023. We think, if everything is going well, to have another tranche in February 2024. That is going to be the last one before the new decree that's going to be issued. What I mean is that, in order to to go ahead with the factoring of the PAC, we need to have a new decree, or we need a new law that is going to be that is going to handle the situation in a different way. So we are waiting the proposal from the government, but in the same time, we are confident about the following flow, at least till February next year. And therefore, to be 100% clear, in your guidance for net debt to EBITDA, it is included a total collection from factoring just south of $400 million. Is that correct in 2023? Yeah. Yeah, yeah, yeah. Fantastic. Many thanks. You're welcome. Thank you. Once again, that's star one one for questions, star one one. One moment for any further questions. I'm not showing any further questions in the queue. I'd like to turn the call back over to Isabela Klemes for any additional questions via chat. Thank you, Victor. Yes, we have some additional questions. The first one, Giuseppe, question that raised into our chat. One of our investors are asking analysts, how much is the Earning Per Shares, and when we pay the dividend related to the nine months 2023? Well, we are going to have, as already approved in the shareholder assembly, the An interim dividend in January, that is gonna be 15% of the September 2023 results. And, the board of director is going to be approved and proposed to the shareholder meeting, the final dividend payout. In general, what I can tell you is that, I can confirm the 50% dividend payout that we proposed in the capital market day last year. Thank you, Giuseppe. We have one more question. The question is also related to PEC three. Okay, a question from Andrew McCartney, from Credi Corp. Can you provide us with some color on what you think will happen with respect to PEC three mechanism? Will this require finance from companies like Enel Chile? Giuseppe, now I pass to you. Yeah. I mean, what I can tell you is that what basically has been published in the newspaper. So basically, the idea is to find a way in order, on one side, to increase the tariff without big impact on the customer. But in the same time, to guarantee the recovery of the debt that all the gen cos has been accumulated till now. There is also another point that has been mentioned in the proposal, that is the subsidies to a certain kind of customer. So basically the customer with lower level of income. So we believe that part of this debt is going to be subsidized through this mechanism. But again, we don't have more information than what we see in the newspaper. Thank you, Giuseppe. We have one more question. The other question that we just received are also related to Los Cóndores project that was done by David Parra. David, I will read the questions, okay? "Hi, thank you for the presentation. I have two questions. The first one: Have there been any problems in Los Cóndores projects like the ones we have seen in Alto Maipo project? What is the total expected cost of Los Cóndores project?" This is the first question. Then the second one is: "Is there any specific plan from the revenue from the sale of Arcadia? Thank you. Okay. For what concern the total cost of Los Cóndores, I mean, we don't have any update with respect to what we have already declared in the past, so we are going to have around $1.2 billion. We had some delay because of the rainy season in July. That, of course, as already mentioned last time, the last call, could mean some small delay in terms of security, but, I mean, no major impact on the whole. For what concern the proceeds coming from the sales of Arcadia, as I said, we are going to, on one side, repay some loan, bank loan, and some revolving credit facility. On the other side, we are going to use the proceeds in order to finance our capital net working capital. Okay. Thank you, Giuseppe. And we have, I think it's the final one, that we just received here. It's relating the purchases that we are doing with other generators, okay? So the question is coming from Martin. Sorry, I don't know how to pronounce your surname, Martin, but, "The purchase from other generators line is connected to long-term contracts with other gencos. Can you give us a sense of duration and size? Well, you know, a couple of years ago, we started to sign some PPA in May in order to diversify our sourcing. So, now these energy PPAs are becoming materializing. In terms of contract, we are talking about around 3 TWh per year, long contract. And for what concern the timing, I would say that is 10-year in average, 10-year tenure. Of course, there is several kind of PPA. We have also 15-year tenure contract, but in general, between 10 and 15. Thank you, Giuseppe. Victor, do we have any other questions? We have no further questions in the queue. Okay. So I would like to thank you all for your attention today in our call and conclude our results conference call. Also, to remind you that our Investor Day is going to be held on November 27th. It will be a hybrid event, so we will soon receive the invitation. Okay? Thank you very much. Have a great week. Thank you. This concludes today's conference call. Thank you for participating. You may now disconnect. Everyone, have a great day.