Union Power Station – Entergy We power life. Wed, 25 Jun 2025 17:00:26 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.1 /wp-content/uploads/2024/06/cropped-FavIcon-32x32.png Union Power Station – Entergy 32 32 A Note from Charles Rice /blog/note-from-charles-rice Mon, 14 Mar 2016 16:55:00 +0000 /note-from-charles-rice Dear Valued Customer:

We’re committed to powering a thriving New Orleans and to providing you with safe, clean, reliable and affordable power. To ensure we can do that now and into the future, we continually evaluate our existing resources and upgrade them when it makes economic sense. By doing this, we can address changing conditions and take advantage of technological innovations and improvements for the benefit of all.

To that end, Entergy New Orleans purchased a 495-megawatt natural gas-fired electric generating unit on March 3 that is part of the Union Power Station located in Arkansas. Over its assumed remaining life, the unit is conservatively expected to generate more than $100 million in net benefits for New Orleans customers.

This was a unique opportunity for us to add a modern, highly efficient unit that will help us meet the city’s current and future energy needs at a price that is approximately half the cost of building a comparable new facility.

The purchase of the Union Power Station unit involved in-depth analysis of a number of factors including long-term capacity needs, the company’s portfolio of supply sources and the need to add newer, more-efficient generation assets. It underwent rigorous and intensive review, and was unanimously approved by the New Orleans City Council last fall.

We’re confident that this planned investment is the right move at the right time – one that lays the foundation necessary to keep your rates affordable while providing New Orleans with the power to grow.

Sincerely,

Charles L. Rice Jr.
President and CEO
Entergy New Orleans, Inc.

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ϳԹ Subsidiaries Close Transaction to Buy Union Power Station /news/entergy-corporation-subsidiaries-close-transaction-buy-union-power-station Fri, 04 Mar 2016 23:55:00 +0000 /blog-post/entergy-corporation-subsidiaries-close-transaction-buy-union-power-station/ NEW ORLEANS – Taking a major step toward providing additional efficient, clean energy resources for new and existing customers and modernizing the company’s power generation fleet, ϳԹ (NYSE: ETR) announced that its subsidiaries, Entergy Arkansas, Inc., Entergy Louisiana, LLC, and Entergy New Orleans, Inc., closed their purchase of the 1,980-megawatt (summer rating) Union Power Station located near El Dorado, Arkansas. The purchase was closed on Thursday.

The Union Power Station, which entered commercial service in 2003, is a highly-efficient, natural gas-fired generating facility. The plant consists of four combined-cycle, gas-fired generating units, or CCGTs, each rated at 495 MW.

In December 2014, the company announced an agreement with Union Power Partners, L.P., an independent power producer wholly-owned by Entegra TC LLC, to acquire the units to help meet increasing resource demands in the region and as part of the company’s modernization of its generating fleet. The plant purchase price is approximately $948.0 million ($479/kW), or approximately $237.0 million per unit, subject to adjustments. The purchase price is about half the cost to build a comparable new CCGT facility.

Entergy Arkansas and Entergy New Orleans each acquired one unit and Entergy Louisiana acquired two units.

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 10,000 megawatts of nuclear power. Entergy delivers electricity to 2.8 million utility customers in Arkansas, Louisiana, Mississippi and Texas. Entergy has annual revenues of approximately $11.5 billion and more than 13,000 employees.

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Entergy’s online address is entergy.com
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Entergy Texas Files to End Bid to Purchase Union Power Station Unit; Entergy New Orleans Positioned to Purchase the 495 MW Unit /news/entergy-texas-files-end-bid-purchase-union-power-station-unit-entergy-new-orleans-positioned-purchase-495-mw-unit Sat, 18 Jul 2015 06:58:00 +0000 /blog-post/entergy-texas-files-end-bid-purchase-union-power-station-unit-entergy-new-orleans-positioned-purchase-495-mw-unit/ CONTACT:

Yolanda Pollard
(504) 576-4132
ypollar@entergy.com

Melanie Taylor
(281) 362-4080
mtaylo5@entergy.com

Paula Waters
(504) 576-4380
pwater1@entergy.com

Acquisition on track to close by end of 2015

NEW ORLEANS – Together with other parties, Entergy Texas, Inc. filed a motion today with the Public Utility Commission of Texas to dismiss the company’s application requesting a Certificate of Convenience and Necessity for one of the four 495 MW generating units at the Union Power Station near El Dorado, Arkansas. If the PUCT grants the parties’ motion to dismiss, Entergy Texas’ quest to purchase the unit would end and the unit will be acquired by Entergy New Orleans, Inc. at an unadjusted purchase price of $237.0 million, subject to the approval of the New Orleans City Council and the satisfaction of other conditions to close the transaction.

“Our customers in New Orleans would benefit from the clean, reliable and low-cost energy provided by this facility,” said Charles Rice, president and CEO of Entergy New Orleans. “Entergy New Orleans has a need for additional generation, and this unit is an ideal way to meet this need at a price that is approximately half the cost of building a comparable new unit.”

The Union Power Station is a 1,980-megawatt (summer rated) generating facility that entered commercial service in 2003 and consists of four highly efficient combined-cycle natural gas-fired generating units.

ϳԹ announced on Dec. 9, 2014, that three of its subsidiaries, Entergy Texas, Entergy Arkansas, Inc. and Entergy Gulf States Louisiana, L.L.C., had entered into an Asset Purchase Agreement to each acquire a portion of the Union Power Station. The aggregate plant purchase price is $948.0 million ($479/kW), or $237.0 million per unit, subject to adjustments. The total purchase price is approximately half the cost to build a comparable new CCGT facility. The purchase of the entire Union Power Station facility currently remains on track to be completed by the end of 2015.

“We remain committed to completing this transaction and delivering to our customers the benefits these four units offer,” said Theo Bunting, group president, utility operations. “The acquisition of these highly efficient units at a favorable price will help us to reliably meet the resource needs of our growing region and is a significant step in the ongoing modernization of our generating fleet.”

The companies have spent the past several months working to obtain the necessary approvals to complete the transaction. Both Entergy Arkansas and Entergy Gulf States Louisiana are in the process of obtaining regulatory approvals for the purchase. The New Orleans City Council previously approved Entergy New Orleans’ participation in the transaction through a purchase power agreement in which Entergy New Orleans would be allocated 20 percent of the two units purchased by Entergy Gulf States Louisiana. The purchase by Entergy New Orleans of one of the four units will be in lieu of the PPA.

Parties in the Entergy Texas CCN case indicated in regulatory proceedings that they oppose the transaction.

“We have heard the positions of the other parties, including those representing some of our major customer groups, and do not see a viable path forward for the acquisition of this unit,” said Sallie Rainer, president and CEO of Entergy Texas. “We are requesting that the Commission dismiss the CCN filing. We look forward to working with the PUCT and stakeholders as we continue to develop strategies to meet the generation resource needs in Texas.”

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 10,000 megawatts of nuclear power, making it one of the nation’s leading nuclear generators. Entergy delivers electricity to 2.8 million utility customers in Arkansas, Louisiana, Mississippi and Texas. Entergy has annual revenues of more than $12 billion and approximately 13,000 employees.

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Additional investor information can be accessed atentergy.com/investor_relations

Cautionary Note Regarding Forward-Looking Statements

In this news release and from time to time, ϳԹ makes certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Except to the extent required by the federal securities laws, Entergy undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Forward-looking statements are subject to a number of risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied in such forward-looking statements, including (a) those factors discussed elsewhere in this presentation and in Entergy’s most recent Annual Report on Form 10-K, any subsequent Quarterly Reports on Form 10-Q and Entergy’s other reports and filings made under the Securities Exchange Act of 1934; (b) uncertainties associated with rate proceedings, formula rate plans and other cost recovery mechanisms; (c) uncertainties associated with efforts to remediate the effects of major storms and recover related restoration costs; (d) nuclear plant relicensing, operating and regulatory risks, including any changes resulting from the nuclear crisis in Japan following its catastrophic earthquake and tsunami; (e) changes in decommissioning trust fund values or earnings or in the timing or cost of decommissioning VY or any of Entergy’s other nuclear plant sites; (f) legislative and regulatory actions and risks and uncertainties associated with claims or litigation by or against Entergy and its subsidiaries; (g) risks and uncertainties associated with strategic transactions that Entergy or its subsidiaries may undertake, including the proposed acquisition of the Union Power Station near El Dorado, Arkansas and the proposed combination of ELL and EGSL, including the risk that any such transaction may not be completed as and when expected and the risk that the anticipated benefits of the transaction may not be realized and (h) economic conditions and conditions in commodity and capital markets during the periods covered by the forward-looking statements.

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Entergy Arkansas Files for Recovery of Costs to Enhance Grid, Purchase Power Plant Unit /news/entergy-arkansas-files-recovery-costs-enhance-grid-purchase-power-plant-unit Fri, 24 Apr 2015 12:00:00 +0000 /blog-post/entergy-arkansas-files-recovery-costs-enhance-grid-purchase-power-plant-unit/ Company outlines plans for modernization, economic development

LITTLE ROCK, Ark.– Economic development and electrical system modernization are the hallmarks of Entergy Arkansas’ blueprint to enhance reliability and provide the power to grow business in the state. The company laid out its plans to make improvements across the service territory with the Arkansas Public Service Commission today.

“Our employees have put a considerable amount of infrastructure in place over the last two years to enhance reliability and prepare Arkansas for future economic growth,” said Hugh McDonald, president and chief executive officer of Entergy Arkansas, Inc. “This new foundation will help deliver a bright future that includes more investment in Arkansas, more jobs and stronger communities,” McDonald said.

As part of the utility’s plan to position Arkansas for the future, the company is requesting to recover costs that result in a $167 million impact on customer bills in early 2016. These costs are driven largely by enhancements to the electrical grid and the purchase of a 495-megawatt unit at the Union Power Station near El Dorado. If approved, the adjustment would change the monthly bill of a typical residential customer using 1,000 kWh by approximately $13.00 or 45 cents a day.

“These investments will not only strengthen our grid but will allow us to leverage the industrialization that is happening in our region and maintain customer rates below the national and regional averages,” said McDonald.

Entergy Arkansas provides electricity to approximately 700,000 customers in 63 counties. Entergy Arkansas is a subsidiary of ϳԹ, 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 10,000 megawatts of nuclear power, making it one of the nation’s leading nuclear generators. Entergy delivers electricity to 2.8 million utility customers in Arkansas, Louisiana, Mississippi and Texas. Entergy has annual revenues of more than $12 billion and approximately 13,000 employees.

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Additional investor information can be accessed atwww.entergy.com/investor_relations

In this news release, and from time to time, Entergy Arkansas, Inc. makes certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Except to the extent required by the federal securities laws, Entergy Arkansas undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Forward-looking statements are subject to a number of risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied in such forward-looking statements, including (a) those factors discussed elsewhere in this news release and in Entergy Arkansas’ most recent Annual Report on Form 10-K, any subsequent Quarterly Reports on Form 10-Q and Entergy Arkansas’ other reports and filings made under the Securities Exchange Act of 1934; (b) uncertainties associated with rate proceedings, formula rate plans and other cost recovery mechanisms; (c) uncertainties associated with efforts to remediate the effects of major storms and recover related restoration costs; (d) nuclear plant relicensing, operating and regulatory risks, including any changes resulting from the nuclear crisis in Japan following its catastrophic earthquake and tsunami; (e) changes in decommissioning trust fund values or earnings or in the timing or cost of decommissioning nuclear plant sites; (f) legislative and regulatory actions and risks and uncertainties associated with claims or litigation by or against Entergy Arkansas or its subsidiaries; (g) risks and uncertainties associated with strategic transactions that Entergy Arkansas or its subsidiaries may undertake, including the proposed acquisition of the Union Power Station in El Dorado, Arkansas, including the risk that any such transaction may not be completed as and when expected and the risk that the anticipated benefits of the transaction may not be realized, and (h) economic conditions and conditions in commodity and capital markets during the periods covered by the forward-looking statements.

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Entergy Subsidiaries Agree to Buy Union Power Station /news/entergy-subsidiaries-agree-buy-union-power-station Wed, 10 Dec 2014 02:00:00 +0000 /blog-post/entergy-subsidiaries-agree-buy-union-power-station/ Four Clean, Efficient and Modern Units to help meet Future Load Growth

NEW ORLEANS – In a move that will help meet the future energy needs of a growing region, ϳԹ (NYSE: ETR) announced today that its subsidiaries, Entergy Arkansas, Inc., Entergy Gulf States Louisiana, L.L.C. and Entergy Texas, Inc. have signed an agreement to acquire the Union Power Station near El Dorado, Arkansas. The Union Power Station is a highly efficient, natural gas-fired 1,980-megawatt (summer-rated) generating facility. The station is owned by Union Power Partners, L.P., an independent power producer and wholly-owned by Entegra TC LLC.

“Our service territory is at the heart of an industrial renaissance that is built on competitive energy costs, low electricity prices and smart economic growth policies of our state governments,” said Leo Denault, Entergy’s chairman and chief executive officer. “The acquisition of these highly efficient units at a price favorable to our customers will help us meet the increased demand and be a significant step in the ongoing modernization of our generating fleet.”

In the U.S. ϳԹ Information Administration’s most recent regional rankings of retail electricity prices, the West South Central Region – which includes Arkansas, Louisiana, Texas and Oklahoma – had the lowest industrial rates of any region in the country.

Low electricity prices are one reason that more than 85 projects involving over $65 billion of investment and projected to create tens of thousands of new jobs and the potential addition of approximately 1,700 MW in new industrial load by 2016 have been announced, signed or are under development in Entergy’s service area.

The Union Power Station, which entered commercial service in 2003, consists of four combined-cycle gas-fired generating units, or CCGTs, each rated at 495 MW. Under the Asset Purchase Agreement, Entergy Arkansas and Entergy Texas have each agreed to acquire one unit and Entergy Gulf States Louisiana has agreed to acquire two units. Entergy New Orleans will receive 20 percent of the output from the Entergy Gulf States Louisiana units via an at-cost purchase power agreement, subject to City Council of New Orleans approval.

The plant purchase price is $948.0 million ($479/kW), or $237.0 million per unit, subject to adjustments. The purchase price is approximately half the cost to build a comparable new CCGT facility.

The purchase is contingent upon, among other things, obtaining necessary approvals, including acceptable cost recovery, from the various federal and state regulatory authorities and the expiration of the waiting period under the Hart-Scott-Rodino antitrust law. The targeted closing date is late 2015.

The total investment associated with this proposed plant acquisition, including the amounts associated with the purchase price, transaction costs, contingency and future investment in the plant and transmission upgrades, was generically included in the previously disclosed preliminary 2015 through 2017 capital plan for Entergy and the affected subsidiaries. In addition, the estimated earnings implications were reflected in the financial outlook of approximately 5 to 7 percent compound annual average net income growth through 2017 (off 2013 base year) for the Utility business.

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 more than 10,000 megawatts of nuclear power, making it one of the nation’s leading nuclear generators. Entergy delivers electricity to 2.8 million utility customers in Arkansas, Louisiana, Mississippi and Texas. Entergy has annual revenues of more than $11 billion and approximately 14,000 employees.

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Additional investor information can be accessed at www.entergy.com/investor_relations

In this news release, and from time to time, ϳԹ makes certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Except to the extent required by the federal securities laws, Entergy undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Forward-looking statements involve a number of risks and uncertainties. There are factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, including (a) those factors discussed in this news release and in Entergy’s most recent Annual Report on Form 10-K, any subsequent Quarterly Reports on Form 10-Q and Entergy’s other reports and filings made under the Securities Exchange Act of 1934; (b) uncertainties associated with rate proceedings, formula rate plans and other cost recovery mechanisms; (c) uncertainties associated with efforts to remediate the effects of major storms and recover related restoration costs; (d) nuclear plant relicensing, operating and regulatory risks, including any changes resulting from the nuclear crisis in Japan following its catastrophic earthquake and tsunami; (e) changes in decommissioning trust fund values or earnings or in the timing or cost of decommissioning Vermont Yankee or any of Entergy’s other nuclear plant sites; (f) legislative and regulatory actions and risks and uncertainties associated with claims or litigation by or against Entergy and its subsidiaries; and (g) economic conditions and conditions in commodity and capital markets during the periods covered by the forward-looking statements, in addition to other factors described elsewhere in this release and subsequent securities filings.

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Powering the Industrial Renaissance /news/powering-industrial-renaissance Tue, 09 Dec 2014 22:23:00 +0000 /blog-post/powering-industrial-renaissance/ BATON ROUGE – In a move that will help meet the energy needs of Louisianans while keeping down costs, Entergy Gulf States Louisiana, L.L.C. announced today that it has signed an agreement to acquire two of the four units at the Union Power Station near El Dorado, Ark., near the Louisiana border.

“Louisiana is the epicenter of an industrial renaissance that will bring scores of new jobs and drive demand for electricity in our state by as much as 1,600 megawatts by the year 2019,” said Phillip May, president and chief executive officer for Entergy’s Louisiana utilities.  “The acquisition of these highly efficient units will help us meet some of that increased load while keeping ratepayers’ costs among the lowest in the country.”

The Union Power Station, a 1,980-megawatt (summer rated) generating facility, entered commercial service in 2003 and consists of four highly efficient combined-cycle natural gas-fired generating units, or CCGTs, each rated at 495 MW. Under the Asset Purchase Agreement, Entergy Texas, Inc. and Entergy Arkansas, Inc. have each agreed to acquire one unit, and Entergy Gulf States Louisiana, L.L.C, has agreed to acquire two units.

The plant purchase price is approximately $948.0 million ($479/kW), or $237.0 million per unit, subject to adjustments. The purchase price is approximately half the cost to build a comparable new CCGT facility. Entergy New Orleans will receive 20 percent of the output from the Entergy Gulf States Louisiana units via an at-cost purchase power agreement, subject to City Council of New Orleans approval.

The purchase is contingent upon, among other things, obtaining necessary approvals, including acceptable cost recovery, from the various federal and state regulatory authorities and the expiration of the waiting period under the Hart-Scott-Rodino antitrust law. The targeted closing date is late 2015.

Entergy Louisiana, LLC and Entergy Gulf States Louisiana, L.L.C. provide electric service to more than one million Louisiana customers. Additionally, Entergy Gulf States Louisiana provides natural gas service to nearly 93,000 customers in the greater Baton Rouge area. With operations in southern, central and northeastern Louisiana, the companies are subsidiaries 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 more than 10,000 megawatts of nuclear power, making it one of the nation’s leading nuclear generators. Entergy delivers electricity to 2.8 million utility customers in Arkansas, Louisiana, Mississippi and Texas. Entergy has annual revenues of more than $11 billion and approximately 14,000 employees.

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Additional investor information can be accessed at entergy.com/investor_relations

In this news release, and from time to time, Entergy Gulf States Louisiana, L.L.C. makes certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Except to the extent required by the federal securities laws, Entergy Gulf States undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Forward-looking statements involve a number of risks and uncertainties. There are factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, including (a) those factors discussed in this news release and in Entergy Gulf States’ most recent Annual Report on Form 10-K, any subsequent Quarterly Reports on Form 10-Q and Entergy Gulf States’ other reports and filings made under the Securities Exchange Act of 1934; (b) uncertainties associated with rate proceedings, formula rate plans and other cost recovery mechanisms; (c) uncertainties associated with efforts to remediate the effects of major storms and recover related restoration costs; (d) nuclear plant relicensing, operating and regulatory risks, including any changes resulting from the nuclear crisis in Japan following its catastrophic earthquake and tsunami; (e) changes in decommissioning trust fund values or earnings or in the timing or cost of decommissioning Vermont Yankee or any of Entergy’s other nuclear plant sites; (f) legislative and regulatory actions and risks and uncertainties associated with claims or litigation by or against Entergy and its subsidiaries; and (g) economic conditions and conditions in commodity and capital markets during the periods covered by the forward-looking statements, in addition to other factors described elsewhere in this release and subsequent securities filings.

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Entergy Texas Agrees to Buy Portion of Union Power Station /news/entergy-texas-agrees-buy-portion-union-power-station Tue, 09 Dec 2014 20:36:00 +0000 /blog-post/entergy-texas-agrees-buy-portion-union-power-station/ Clean and Efficient Modern Unit to help meet Future Load Growth

The Woodlands, Texas – In a move that will help meet the energy needs of southeast Texas while keeping costs to customers down, Entergy Texas, Inc. today announced that it has entered into an agreement to purchase a portion of the Union Power Station near El Dorado, Arkansas.

“We are focused on providing clean, reliable, low cost service to our customers while supporting growth in the communities we serve,” said Sallie Rainer, Entergy Texas president and chief executive officer. “The acquisition of this highly efficient unit will help us modernize our generation fleet and meet increased demand in the region.”

The Union Power Station, a 1,980-megawatt (summer rated) generating facility, entered commercial service in 2003 and consists of four highly efficient combined-cycle natural gas-fired generating units, or CCGTs, each rated at 495 MW. Under the Asset Purchase Agreement, Entergy Texas and Entergy Arkansas, Inc. have each agreed to acquire one unit, and Entergy Gulf States Louisiana, L.L.C. has agreed to acquire two units.

The plant purchase price is approximately $948.0 million ($479/kW), or $237.0 million per unit, subject to adjustments. The purchase price is approximately half the cost to build a comparable new CCGT facility.

The purchase is contingent upon, among other things, obtaining necessary approvals, including acceptable cost recovery, from the various federal and state regulatory authorities and the expiration of the waiting period under the Hart-Scott-Rodino antitrust law. The targeted closing date is late 2015.

Entergy Texas, Inc. delivers electricity to more than 426,000 customers in 27 counties. It is a subsidiary of ϳԹ. Entergy 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 more than 10,000 megawatts of nuclear power, making it one of the nation’s leading nuclear generators. Entergy delivers electricity to 2.8 million utility customers in Arkansas, Louisiana, Mississippi and Texas.


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Additional investor information can be accessed at www.entergy.com/investor_relations

In this news release, and from time to time, Entergy Texas makes certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Except to the extent required by the federal securities laws, Entergy Texas undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Forward-looking statements involve a number of risks and uncertainties. There are factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, including (a) those factors discussed in this news release and in Entergy Texas’ most recent Annual Report on Form 10-K, any subsequent Quarterly Reports on Form 10-Q and Entergy Texas’ other reports and filings made under the Securities Exchange Act of 1934; (b) uncertainties associated with rate proceedings, formula rate plans and other cost recovery mechanisms; (c) uncertainties associated with efforts to remediate the effects of major storms and recover related restoration costs; (d) nuclear plant relicensing, operating and regulatory risks, including any changes resulting from the nuclear crisis in Japan following its catastrophic earthquake and tsunami; (e) changes in decommissioning trust fund values or earnings or in the timing or cost of decommissioning Vermont Yankee or any of Entergy’s other nuclear plant sites; (f) legislative and regulatory actions and risks and uncertainties associated with claims or litigation by or against Entergy and its subsidiaries; and (g) economic conditions and conditions in commodity and capital markets during the periods covered by the forward-looking statements, in addition to other factors described elsewhere in this release and subsequent securities filings.

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Entergy Arkansas Agrees to Buy Portion of Union Power Station /news/entergy-arkansas-agrees-buy-portion-union-power-station Tue, 09 Dec 2014 16:00:00 +0000 /blog-post/entergy-arkansas-agrees-buy-portion-union-power-station/ Little Rock, Arkansas – In a move that will help meet the energy needs of Arkansans while keeping costs down, Entergy Arkansas, Inc. announced today that it has signed an agreement to acquire a portion of the Union Power Station near El Dorado.

“Entergy Arkansas is focused on keeping customer rates among the lowest in the country and helping Arkansas’ economy to grow,” said Hugh McDonald, Entergy Arkansas president and chief executive officer. “The Union Power Station purchase is a significant step in the ongoing modernization of our generation fleet. It’s clean, it’s efficient, and we’re buying it at a good price. Those factors combine to help us keep rates down, keep reliability up, and maintain an environmental profile that’s among the cleanest in the industry.”

The Union Power Station, a 1,980-megawatt (summer rated) generating facility, entered commercial service in 2003 and consists of four highly efficient combined-cycle natural-gas-fired generating units, or CCGTs, each rated at 495 MW. Under the Asset Purchase Agreement, Entergy Arkansas and Entergy Texas, Inc. have each agreed to acquire one unit, and Entergy Gulf States Louisiana, L.L.C. has agreed to acquire two units.

The plant purchase price is $948.0 million ($479/kW), or $237.0 million per unit, subject to adjustments. The purchase price is approximately half the cost to build a comparable new CCGT facility. The station is owned by Union Power Partners, L.P., an independent power producer and wholly owned by Entegra TC LLC. Entergy Arkansas will operate the plant, which sits on 330 acres in Union County.

“We are also fortunate that we have the opportunity to invest in an Arkansas facility that provides high-quality jobs to our state,” said McDonald. “This acquisition complements the transmission enhancements we are planning to make across the service territory that will improve reliability for our customers.”

The purchase is contingent upon, among other things, obtaining necessary approvals, including acceptable cost recovery, from the various federal and state regulatory authorities and the expiration of the waiting period under the Hart-Scott-Rodino antitrust law. The targeted closing date is late 2015.

Entergy Arkansas provides electricity to approximately 700,000 customers in 63 counties. Entergy Arkansas is a subsidiary of ϳԹ, 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 more than 10,000 megawatts of nuclear power, making it one of the nation’s leading nuclear generators. Entergy delivers electricity to 2.8 million utility customers in Arkansas, Louisiana, Mississippi and Texas. Entergy has annual revenues of more than $11 billion and approximately 14,000 employees.

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Additional investor information can be accessed at www.entergy.com/investor_relations

In this news release, and from time to time, Entergy Arkansas, Inc. makes certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Except to the extent required by the federal securities laws, Entergy Arkansas undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Forward-looking statements involve a number of risks and uncertainties. There are factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, including (a) those factors discussed in this news release and in Entergy Arkansas’ most recent Annual Report on Form 10-K, any subsequent Quarterly Reports on Form 10-Q and Entergy Arkansas’ other reports and filings made under the Securities Exchange Act of 1934; (b) uncertainties associated with rate proceedings, formula rate plans and other cost recovery mechanisms; (c) uncertainties associated with efforts to remediate the effects of major storms and recover related restoration costs; (d) nuclear plant relicensing, operating and regulatory risks, including any changes resulting from the nuclear crisis in Japan following its catastrophic earthquake and tsunami; (e) changes in decommissioning trust fund values or earnings or in the timing or cost of decommissioning Vermont Yankee or any of Entergy’s other nuclear plant sites; (f) legislative and regulatory actions and risks and uncertainties associated with claims or litigation by or against Entergy and its subsidiaries; and (g) economic conditions and conditions in commodity and capital markets during the periods covered by the forward-looking statements, in addition to other factors described elsewhere in this release and subsequent securities filings.

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