Legislation – Entergy We power life. Wed, 27 Jun 2018 17:00:00 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.1 /wp-content/uploads/2024/06/cropped-FavIcon-32x32.png Legislation – Entergy 32 32 Entergy Mississippi, Inc. to Return Millions in Tax Savings to Customers /news/entergy-mississippi-inc-return-millions-tax-savings-customers Wed, 27 Jun 2018 17:00:00 +0000 /blog-post/entergy-mississippi-inc-return-millions-tax-savings-customers/ Regulators approve agreement that lowers bills and future rates, pays for grid investment

JACKSON, Mississippi – Beginning July 1, Entergy Mississippi customers will see more than $300 million in benefits under a plan approved by the Mississippi Public Service Commission.

“The plan, a result of the Tax Cuts and Jobs Act, will let us reduce future rates and provide prompt credits that will lower bills during the high-usage summer months,” said Haley Fisackerly, Entergy Mississippi president and CEO. “It also lets us avoid a rate increase that would have resulted from nearly $1 billion in improvements we’ve made to strengthen and modernize the grid for our customers during the past three years.”

Under the plan, the typical residential customer bill for 1,000 kWh will drop more than $12 per month from July through September. Of that amount, $7.59 stems from tax reform. The remaining $5.05 is from an MPSC fuel order last January that was designed to reduce bills during the hot summer months. That portion will remain in effect through February 2019.

This means that the current typical residential customer bill for 1,000 kWh will drop from $114.01 to $101.37 from July through September, and from the current $114.01 to $109. 24 from October through February 2019.

Bills are a combination of rates and usage. Customers who use more electricity than 1,000 kWh per month will see larger savings, while customers who use less than that will see lower savings.

The Tax Cuts and Job Act reduced the corporate tax rate from 35 percent to 21 percent.

Entergy Mississippi, Inc. provides electricity to approximately 449,000 customers in 45 counties. ϳԹ is an integrated energy company engaged primarily in electric power production and retail distribution operations. Entergy owns and operates power plants with approximately 30,000 megawatts of electric generating capacity, including nearly 9,000 megawatts of nuclear power. Entergy delivers electricity to 2.9 million utility customers in Arkansas, Louisiana, Mississippi and Texas. Entergy has annual revenues of approximately $11 billion and more than 13,000 employees.

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Entergy New Orleans Reaches Preliminary Tax Savings Agreement to Benefit Customers /news/entergy-new-orleans-reaches-preliminary-tax-savings-agreement-benefit-customers Mon, 21 May 2018 12:00:00 +0000 /blog-post/entergy-new-orleans-reaches-preliminary-tax-savings-agreement-benefit-customers/ If approved by the council in June, residential bills from July to December would decrease by an average of approximately $11 per month

NEW ORLEANS – Following the New Orleans City Council’s February 2018 resolution directing Entergy New Orleans to quantify the benefits to customers of the Tax Cuts and Jobs Act, the company has agreed, under the direction of the council’s advisors, to flow through approximately $50 million in tax savings benefits by July 2019. In addition to these near-term benefits, customers can expect to see approximately $71 million in tax savings benefits over the longer term.

Entergy New Orleans expects that if the agreement to be filed with the council is approved next month, the portion of the benefits to be realized through bill credits would begin with the first billing cycle of July 2018.

In addition to the benefits described above, customers also are expected to receive benefits in the form of lower fuel or rider costs due to the act’s effect on certain power-purchase agreements pursuant to a council-directed filing made with the Federal ϳԹ Regulatory Commission in March 2018. These benefits are estimated to be over $30 million in 2018, with some additional benefits to be realized in future years, and are estimated to reduce typical residential electric bills from July to December 2018 by an average of approximately $11 per month.

If approved, the $50 million in tax savings benefits will begin to be realized by customers in several ways:

  • bill credits totaling approximately $14.1 million applied to the total company electric fuel adjustment clause in certain high-usage (summer) months;
  • bill credits totaling approximately $2 million applied to the purchased gas adjustment in certain high-usage (winter) months;
  • bill credits totaling approximately $4.8 million applied to offset purchased power and capacity costs;
  • funding of ϳԹ Smart programs through August 2019 in the amount of approximately $13.5 million;
  • funding of grid-modernization projects in the amount of approximately $12.8 million;
  • funding of a Smart City pilot in the amount of approximately $3.2 million.

“This preliminary agreement strikes a balance between investing in projects and programs for the benefit of all customers while returning savings to help them when energy usage is highest,” said Charles Rice, president and CEO of Entergy New Orleans, LLC. “We look forward to continued work with the council and its advisors to implement savings seen through the federal Tax Cuts and Jobs Act enacted in December 2017.”

Entergy New Orleans first announced that it filed its proposal for implementing the benefits of the recent federal tax reform legislation with the New Orleans City Council on March 27, 2018.

Entergy New Orleans, LLC is an electric and gas utility that serves Louisiana’s Orleans Parish. The company provides electricity to more than 200,000 customers and natural gas to more than 106,000 customers. The company is a subsidiary of ϳԹ.

ϳԹ is an integrated energy company engaged primarily in electric power production and retail distribution operations. Entergy owns and operates power plants with approximately 30,000 megawatts of electric generating capacity, including nearly 9,000 megawatts of nuclear power. Entergy delivers electricity to 2.9 million utility customers in Arkansas, Louisiana, Mississippi and Texas. Entergy has annual revenues of approximately $11 billion and more than 13,000 employees.

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Entergy Louisiana to Return Millions in Tax Savings to Customers /news/entergy-louisiana-return-millions-tax-savings-customers Thu, 19 Apr 2018 03:40:00 +0000 /blog-post/entergy-louisiana-return-millions-tax-savings-customers/ State regulators approve agreement that lowers bills, allows for ongoing investment

BATON ROUGE, La. – Entergy Louisiana customers will see a series of rate reductions over the remainder of 2018 under an agreement approved today by the Louisiana Public Service Commission.

The first of the reductions will occur in May as a result of $210 million in federal tax reform-related savings, $105 million of which will be returned to customers over the next eight months, with the remaining half of these savings returned to customers over the following four years. As a result, a typical residential customer using 1,000 kWh per month will see a roughly $4.20 decrease on monthly bills from May through December of this year.

A second reduction of approximately $2 per month on residential bills will occur in September 2018 as a result of additional credits tied to the Tax Cuts and Jobs Act approved by Congress in late 2017. At the same time, Entergy Louisiana will begin realizing approximately $130 million in annual tax savings to offset the cost of upgrading infrastructure.

“Along with customer refunds, tax reform also helps provide us the ability to invest in modernizing our system for the benefit of customers while maintaining some of the lowest rates in the country,” Phillip May, president and CEO of Entergy Louisiana, said.

These reductions are the result of an agreement approved by the LPSC that extends and modifies Entergy Louisiana’s Formula Rate Plan for three more years and will provide a mechanism for determining the rates Entergy Louisiana charges through August 2021. The extended FRP will provide for rate stability and includes, among other provisions, mechanisms that address federal tax changes and that better match the benefits and costs of investments in generation, transmission and distribution the company is making on behalf of its customers.

In addition to the tax-related rate reductions, customers will see significant savings in October when recovery of storm restoration costs associated with hurricanes Katrina and Rita rolls off bills. The typical legacy Entergy Louisiana residential customers using 1,000 kWh per month will see a reduction of approximately $4.15 in the storm restoration charge on their monthly bill. The storm restoration charge will be about $2.55 less per month for the typical legacy Entergy Gulf States Louisiana residential customer using 1,000 kWh.

“We worked closely with the Louisiana Public Service Commission to ensure our customers realize the initial tax reform benefits in time to reduce rates and lower customers’ bills during high-usage summer months. As it stands now, Entergy Louisiana customers already enjoy some of the lowest rates in both the state and the country, and that’s before our customers benefit from the federal tax savings,” May said.

“The fact that all involved parties – from the Alliance for Affordable ϳԹ to some of our largest industrial customers – either support or do not oppose the rate agreement speaks to how fairly it treats all of our customers,” May said.

Entergy Louisiana, LLC provides electric service to more than 1 million customers and natural gas service to nearly 93,000 customers in the greater Baton Rouge area. With operations in southern, central and northeastern Louisiana, the company is a subsidiary of ϳԹ.

ϳԹ is an integrated energy company engaged primarily in electric power production and retail distribution operations. Entergy owns and operates power plants with approximately 30,000 megawatts of electric generating capacity, including nearly 9,000 megawatts of nuclear power. Entergy delivers electricity to 2.9 million utility customers in Arkansas, Louisiana, Mississippi and Texas. Entergy has annual revenues of approximately $11 billion and more than 13,000 employees.

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Entergy New Orleans Files Proposal to Pass Tax Savings to Customers /news/entergy-new-orleans-files-proposal-pass-tax-savings-customers Tue, 27 Mar 2018 17:00:00 +0000 /blog-post/entergy-new-orleans-files-proposal-pass-tax-savings-customers/ CONTACT
Charlotte J. Cavell
(504) 576-4132
ccavell@entergy.com

Customers to see near-term savings beginning in June 2018, if approved

Entergy New Orleans filed with the New Orleans City Council Monday its proposal for implementing the benefits of the recent federal tax reform legislation. If approved by the council, customers would realize approximately $47 million annually in near-term tax savings and an additional $71 million in savings over the longer term.

Entergy New Orleans proposes to begin flowing through the near-term estimated savings beginning in June 2018. Those savings would continue until new rates are implemented as a result of Entergy New Orleans’ upcoming rate case, at which time the lower costs would be incorporated into Entergy New Orleans’ total rates.

“We’re working to ensure that our customers receive timely benefits from the new tax reform legislation,” said Charles Rice, president and CEO of Entergy New Orleans, LLC. “We’re glad to pass on these additional savings by reducing rates below what they otherwise would be, especially during the hot summer months when energy usage rises along with the thermometer.”

Not only are these savings expected to cover the hot summer months, but also the winter months when New Orleanians struggle to stay warm – especially should the Crescent City once again experience Arctic temperatures and back-to-back cold fronts. Entergy New Orleans’ plan proposes:

  • Customer bill credits to electric customers totaling an estimated $22 million for the summer months to reduce fuel costs that would otherwise flow through the fuel-adjustment clause;
  • Customer bill credits to gas customers totaling an estimated $1 million for the winter months to reduce natural gas costs that would otherwise flow through the purchased-gas adjustment;
  • Funding for energy-efficiency programs; and,
  • Funding for a new pilot program and grid-modernization projects that would complement the council’s Smart City efforts, and be developed with the guidance of the council and its advisors.

Entergy New Orleans, LLC is an electric and gas utility that serves Louisiana’s Orleans Parish. The company provides electricity to more than 200,000 customers and natural gas to more than 106,000 customers. The company is a subsidiary of ϳԹ.

ϳԹ is an integrated energy company engaged primarily in electric power production and retail distribution operations. Entergy owns and operates power plants with approximately 30,000 megawatts of electric generating capacity, including nearly 9,000 megawatts of nuclear power. Entergy delivers electricity to 2.9 million utility customers in Arkansas, Louisiana, Mississippi and Texas. Entergy has annual revenues of approximately $11 billion and more than 13,000 employees.

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Entergy Arkansas Files Initial Plan to Pass $466M in Tax Savings to Customers /news/entergy-arkansas-files-initial-plan-pass-466-million-tax-savings-customers-2167 Wed, 28 Feb 2018 18:00:00 +0000 /blog-post/entergy-arkansas-files-initial-plan-pass-466-million-tax-savings-customers-2167/ LITTLE ROCK, Ark. – Entergy Arkansas, Inc. filed its plan on Tuesday to provide customers approximately $466 million in benefits as a result of the Tax Cuts and Jobs Act (TCJA). Because of the lower federal corporate tax rate, some of Entergy Arkansas’ future tax obligations, which are a component of customers’ rates, have been significantly reduced. To provide this benefit to customers as quickly as possible, Entergy is proposing to provide bill reductions beginning in April of this year.

If approved by the APSC, the multi- million dollars in tax savings will benefit customers in the following ways:

  • Customer bill credits will begin in April so customers will begin to benefit almost immediately and prior to summer when usage is typically higher.
  • ϳԹ will see a savings of an estimated $20 per month for every 1000 kWh consumed from April 2018 to December 2019.
  • Business customers also will see significant bill reductions, allowing them to reinvest those savings into their business in 2018 as they deem appropriate.
  • Other effects of the TCJA are being considered in a docket opened by the APSC, and we expect those customer benefits to be reflected in future rate changes.

“When tax reform was passed, Governor Asa Hutchinson asked that the Arkansas Public Service Commission work with utilities to pass those benefits to customers as quickly as possible,” said Rick Riley, Entergy Arkansas president and CEO. “Entergy Arkansas has worked with its stakeholders, including Arkansas Attorney General Leslie Rutledge, who has expressed a similar desire, to meet this objective. If approved, the plan submitted will allow Entergy to provide the tax reform benefits to customers beginning as early as April of this year. The tax reduction will allow us to provide substantial bill credits to all customers for a significant period of time.”

Entergy Arkansas, Inc. provides electricity to approximately 700,000 customers in 63 counties. ϳԹ is an integrated energy company engaged primarily in electric power production and retail distribution operations. Entergy owns and operates power plants with approximately 30,000 megawatts of electric generating capacity, including nearly 9,000 megawatts of nuclear power. Entergy delivers electricity to 2.9 million utility customers in Arkansas, Louisiana, Mississippi and Texas. Entergy has annual revenues of approximately $11 billion and nearly 13,000 employees.

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Entergy Chairman and CEO Issues Statement on the American Power Act /news/entergy-chairman-ceo-issues-statement-on-american-power-act Thu, 13 May 2010 07:51:00 +0000 /blog-post/entergy-chairman-ceo-issues-statement-on-american-power-act/ Says bill is a major step in solving climate change

NEW ORLEANS – Entergy Chairman and Chief Executive Officer J. Wayne Leonard today issued a statement in support of the introduction of the American Power Act, which was announced today by Sens. John Kerry, D-Mass., and Joe Lieberman, I-Conn.

Leonard, an early and leading industry advocate of comprehensive climate change legislation, issued the following statement:

“Senators Kerry and Lieberman are to be commended for their leadership in introducing meaningful climate change legislation and, in doing so, helping the United States take a major step forward in solving the biggest challenge of our time. With vital assistance from Senator Graham, Senators Kerry and Lieberman have provided the Senate with an excellent proposal for a comprehensive legislative package that will reduce our country’s greenhouse gas emissions.

“Entergy supports the bill’s market-based approach, which will put a price on carbon dioxide. This is the most effective and efficient way of achieving reduction of greenhouse gases and spurring innovation and investment into new carbon-reducing technologies. The company also supports the bill’s incentives for the development of retrofit carbon capture and sequestration technologies, a critical component to effectively addressing emissions from this country’s coal fleet and the world’s rapidly growing number of coal plants. Additionally, the bill’s hard price collar is a critical cost-control mechanism that will provide an adequate and durable CO2 price signal while preventing unacceptable CO2 price spikes. Finally, the bill’s provision to provide additional assistance to low and middle income consumers is crucial to preventing the regressive impacts of higher energy costs on American families.

“Entergy applauds Senators Kerry’s and Lieberman’s leadership and tireless efforts to bring this proposal forward. We look forward to learning more about the bill, and we hope that it becomes the basis for the enactment of comprehensive climate change legislation.”

ϳԹ (NYSE: ETR) is an integrated energy company engaged primarily in electric power production and retail distribution operations. Entergy owns and operates power plants with approximately 30,000 megawatts of electric generating capacity, and it is the second-largest nuclear generator in the United States. Entergy delivers electricity to 2.7 million utility customers in Arkansas, Louisiana, Mississippi and Texas. Entergy has annual revenues of more than $10 billion and more than 15,000 employees.

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Entergy’s online address is www.entergy.com.

Twitter: @EntergyMedia

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