FE desires to keep an approximate 50/50 debt to equity ration. They are looking to invest $2.8B in a regulated area. Perhaps they won't get an allowable 11% ROE, but certainly a 9% ROE. This is pure growth, with predictable dilution. Even with dilution, I think this will be accretive. A long term shareholder should welcome the investment, as well as the investment being prudently deployed with both debt and capital.