Core Insights - The year 2025 is characterized as an 'affirmational' year, validating a long-term strategy focused on meeting unprecedented power demand from large-scale industrial and data center customers [1] Sales Performance - Industrial sales increased by 7% in 2025, contributing to a 4% overall increase in retail sales, attributed to competitive advantages such as low rates and vertical integration [1] New Agreements - The company secured approximately 3.5 gigawatts in new electric service agreements (ESAs) during 2025, targeting sectors like steel, petrochemical, LNG, and hyperscale data centers [1] Capital Allocation Strategy - A 'customer-first' approach to capital allocation is emphasized, prioritizing investments in reliability and resilience, partially funded by fixed-cost contributions from new large-load customers [1] Operational Success - Operational success is highlighted by a 90% unit capability factor in the nuclear fleet, along with successful execution of major refueling outages and capacity upgrades [1] Regulatory Environment - The regulatory environment is increasingly supportive, with new legislation in Arkansas and Texas, and policy initiatives in Louisiana aimed at expediting infrastructure for economic development [1]