Question-and-Answer Session
Operator
Thank you. We will now begin the question and answer session. [Operator instructions]. Our first question comes from Paul Ridzon from KeyBanc. Please go ahead.
Paul Ridzon
What would be your share of the Acadia transmission project on the capital?
Russell Davis
The share was actually what market indicated that is the -- that was our share so its about $140 million is our share.
Paul Ridzon
Okay. Were there some partners on that?
Russell Davis
Yes.
Paul Ridzon
And then what are you seeing for the petcoke pricing and have you started to secure any contracts yet at coke sorry?
Dilek Samil
Good morning Paul, Its Dilek. Yes, we do have contracts for the petcokes that we anticipate meeting in the -- the contracts of anywhere from 3 to 5 years. The pricing is based on index for the petcokes and the prices of petcoke as with every energy commodity has been going up. The price of petcoke in fact was fairly consistent with the increase in pricing for coal. That said, as you know, our plan is to use petcoke to reduce our reliance on natural gas and of course the price of natural gas has risen more quickly than the price of coal. So, our decision and the impact on our customers are even more favorable to-date despite the increase in petcoke prices that we see.
Paul Ridzon
Is the petcoke market broad enough so you can put colors and other sophisticated kind of?
Dilek Samil
No, no there is very little ability to financially hedge that commodity right now. Our most effective hedge is our ability to switch fuel. That and our ability to store petcoke on site.
Paul Ridzon
Okay, thank you. And Russell just I had a question on Acadia improved $0.04 on lower intra company interest but Hodco lost $0.08 on lower intra company interest. I am trying to reconcile that?
Russell Davis
The reconciliation is there to, when we had to break our earnings per share down and allocate it to the individual subsidiaries and holding companies, the effective tax rates come in to effect out there and the effective tax rate at the holding company is much different than the effective tax rate at our subsidiaries, but holding companies has no revenue exception of that interest income yet it has some expenses and that’s the difference in the amounts right there. The dollar amount is the same. The EPS amounts are affected by the tax rate.
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