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Entergy backs out of $30 mil commitment to build electric substation for SWB pumps in NOLA
Posted on 1/24/22 at 3:09 pm
Posted on 1/24/22 at 3:09 pm
Will this impact the Orleans Parish flood insurance rates because doesn't FEMA have to factor this in now?
NOLA
A critical deal to guarantee that New Orleans’s drainage pumps work during flooding emergencies is in jeopardy, with Entergy New Orleans backing out of its $30 million commitment to build a substation that would supply power to the pumps.
The project could still move forward with another funding source, but it may not be ready in time for the 2023 hurricane season as previously planned, according to Sewerage and Water Board Executive Director Ghassan Korban.
Although Council President Helena Moreno is hoping to quickly fill in the funding gap with federal money to keep the project on track, Korban said the city had "maybe lost the opportunity to have the substation being delivered for the 2023 hurricane season."
Entergy said in a prepared statement on Monday that it could not afford its portion of the $74 million deal, at least for now. That could change if “financial stability is restored,” the statement said. The company said it is working with the city to identify alternative funding sources.
NOLA
A critical deal to guarantee that New Orleans’s drainage pumps work during flooding emergencies is in jeopardy, with Entergy New Orleans backing out of its $30 million commitment to build a substation that would supply power to the pumps.
The project could still move forward with another funding source, but it may not be ready in time for the 2023 hurricane season as previously planned, according to Sewerage and Water Board Executive Director Ghassan Korban.
Although Council President Helena Moreno is hoping to quickly fill in the funding gap with federal money to keep the project on track, Korban said the city had "maybe lost the opportunity to have the substation being delivered for the 2023 hurricane season."
Entergy said in a prepared statement on Monday that it could not afford its portion of the $74 million deal, at least for now. That could change if “financial stability is restored,” the statement said. The company said it is working with the city to identify alternative funding sources.
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Posted on 1/24/22 at 3:10 pm to MrLSU
Posted on 1/24/22 at 3:10 pm to MrLSU
quote:
That could change if “financial stability is restored,” the statement said.
Stoooorrrmmmm feeeeessss
Posted on 1/24/22 at 3:11 pm to MrLSU
quote:
Entergy
quote:
SWB
Posted on 1/24/22 at 3:11 pm to MrLSU
Just let the city flood.
Posted on 1/24/22 at 3:12 pm to MrLSU
This is what happens when the city council members threaten to kick Entergy out of the city.
Posted on 1/24/22 at 3:13 pm to fightin tigers
quote:
quote:
That could change if “financial stability is restored,” the statement said.
Stoooorrrmmmm feeeeessss
I take this to mean that Entergy is now about to sell off Entergy New Orleans or give it back to the City and they are moving their corporate HQs to their new state of the art facility in Houston.
Posted on 1/24/22 at 3:14 pm to MrLSU
Come on Joe! Build Back Better! Cedric and Mitch need to do their jobs
Posted on 1/24/22 at 3:14 pm to MrLSU
I take it as them trying to hold back 30MM in commitment to get 100MM in storm money approved.
Blackmail is the term, but no one will call it that.
Blackmail is the term, but no one will call it that.
This post was edited on 1/24/22 at 3:15 pm
Posted on 1/24/22 at 3:14 pm to MrLSU
I fricking love this so much.
Posted on 1/24/22 at 3:15 pm to ell_13
quote:
This is what happens when the city council members threaten to kick Entergy out of the city.
And are focusing on shite like converting city owned vehicles to an all electric fleet.
Posted on 1/24/22 at 3:15 pm to MrLSU
Posted on 1/24/22 at 3:17 pm to MrLSU
They shouldnt finance shite for swb. shite wont work when its time anyway.
Someone making 6 figures gonna be asleep at home and no where around to flip the switch
Someone making 6 figures gonna be asleep at home and no where around to flip the switch
Posted on 1/24/22 at 3:17 pm to MrLSU
Teedy did that
Posted on 1/24/22 at 3:18 pm to MrLSU
NOLA
My post last week holds true.
If not for federal dollars propping it up, NOLA would still be a ghost town post-katrina
My post last week holds true.
If not for federal dollars propping it up, NOLA would still be a ghost town post-katrina
Posted on 1/24/22 at 3:22 pm to MrLSU
quote:
Entergy said in a prepared statement on Monday that it could not afford its portion of the $74 million deal,
I wonder if this line of discussion works with the IRS or even the La or City of NOLA revenue depts.
Posted on 1/24/22 at 3:29 pm to MrLSU
Who cares? Ellishughtiger can walk to bars and restaurants even in standing water.
Posted on 1/24/22 at 3:32 pm to MrLSU
quote:
For third quarter 2021, the company reported earnings of $531 million, or $2.63 per share, on an as-reported basis, and earnings of $494 million, or $2.45 per
I’m not a fan of NOLA but I think my hate for Entergy runs deeper.
Posted on 1/24/22 at 3:36 pm to brass2mouth
quote:That's earnings only and doesn't include expenses.
I’m not a fan of NOLA but I think my hate for Entergy runs deeper.
This post was edited on 1/24/22 at 3:37 pm
Posted on 1/24/22 at 3:37 pm to MrLSU
Damn, is teedy getting bullied?
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