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Entergy seems perfectly fine with removing all ties with New Orleans
Posted on 9/21/21 at 11:38 am
Posted on 9/21/21 at 11:38 am
LINK
NEW ORLEANS — Entergy announced four possible futures for its subsidiary Entergy New Orleans as the utility group grapples with the city's council following Hurricane Ida.
In a statement issued on Tuesday, Entergy utility group president Rod West suggested merging its New Orleans subsidiary with the larger Entergy Louisiana or selling ENO to another utility company to take over, among other options.
The announcement comes after New Orleans Council President Helena Moreno said she intended to propose a resolution to study future ownership of electric and gas utilities in the city.
“We are positioned to support the City Council as they evaluate various options and prepared to move forward with whatever path the council chooses,” West said.
The company says its four early options fall into four broad categories: merging ENO with Entergy Louisiana, selling ENO to another utility, creating a standalone company not owned by Entergy, or a public utility run by the City of New Orleans.
Entergy said a merger with its statewide subsidiary would bring lower rates to New Orleans customers and would create a larger company that could spread the risk of storm costs across a larger customer base.
A merged company would be managed by the Louisiana Public Service Commission and not the City of New Orleans.
If the council wants to retain regulatory authority over the utility's rates, it would have to pick a different option. Entergy argues that creating a standalone company or a public utility could raise financing costs and operating expenses.
A crucial city council utility committee meeting is scheduled for Wednesday to discuss Entergy's performance in advance and after Hurricane Ida. Entergy plans to be at the hearing
NEW ORLEANS — Entergy announced four possible futures for its subsidiary Entergy New Orleans as the utility group grapples with the city's council following Hurricane Ida.
In a statement issued on Tuesday, Entergy utility group president Rod West suggested merging its New Orleans subsidiary with the larger Entergy Louisiana or selling ENO to another utility company to take over, among other options.
The announcement comes after New Orleans Council President Helena Moreno said she intended to propose a resolution to study future ownership of electric and gas utilities in the city.
“We are positioned to support the City Council as they evaluate various options and prepared to move forward with whatever path the council chooses,” West said.
The company says its four early options fall into four broad categories: merging ENO with Entergy Louisiana, selling ENO to another utility, creating a standalone company not owned by Entergy, or a public utility run by the City of New Orleans.
Entergy said a merger with its statewide subsidiary would bring lower rates to New Orleans customers and would create a larger company that could spread the risk of storm costs across a larger customer base.
A merged company would be managed by the Louisiana Public Service Commission and not the City of New Orleans.
If the council wants to retain regulatory authority over the utility's rates, it would have to pick a different option. Entergy argues that creating a standalone company or a public utility could raise financing costs and operating expenses.
A crucial city council utility committee meeting is scheduled for Wednesday to discuss Entergy's performance in advance and after Hurricane Ida. Entergy plans to be at the hearing
This post was edited on 9/21/21 at 12:11 pm
65
Posted on 9/21/21 at 11:39 am to ell_13
If I were them, I’d get the hell out of dodge too.
Posted on 9/21/21 at 11:39 am to ell_13
quote:
If a willing buyer with sufficient financial strength is identified
Posted on 9/21/21 at 11:39 am to ell_13
Let’s see what kind of balls the city council have because Entergy just flopped their dingaling out and dared someone to challenge them.
This post was edited on 9/21/21 at 11:42 am
Posted on 9/21/21 at 11:40 am to ell_13
Will be run as well as the S&WB.
NOLA swiftly headed towards being a third world country
NOLA swiftly headed towards being a third world country
Posted on 9/21/21 at 11:40 am to ell_13
quote:
City-Run Utility -- A municipalization of Entergy's assets by the City of New Orleans so the city can assume direct ownership and management of the electric and gas systems for customers. This would allow the city to have maximum control over customer rates and business operations, the elimination of a rate of return requirement, and access to potential reimbursements afforded under the federal government emergency assistance laws.
Posted on 9/21/21 at 11:40 am to ell_13
quote:
City-Run Utility -- A municipalization of Entergy's assets by the City of New Orleans so the city can assume direct ownership and management of the electric and gas systems for customers. This would allow the city to have maximum control over customer rates and business operations, the elimination of a rate of return requirement, and access to potential reimbursements afforded under the federal government emergency assistance laws.
Aw HELL No!
Posted on 9/21/21 at 11:40 am to ell_13
Here we go. Let a PE firm or New Orleans have it. Have fun with storm restoration
Posted on 9/21/21 at 11:41 am to ell_13
I do not have a dog in this fight as I do t live in Louisiana but reading the complaints of the complete and utter shite show on government run services in New Orleans, I would not want NO running anything that deals with gas and electricity. Hell they can’t keep the trash picked up nor can they have pumps in operation.
This post was edited on 9/21/21 at 11:42 am
Posted on 9/21/21 at 11:41 am to ell_13
That’s sad and comical at the same time.
New Orleans sucks so much, Entergy of all companies even said frick that city.
But I’m the other hand, this will give Latoya the ability to hire a minority owned electric company
New Orleans sucks so much, Entergy of all companies even said frick that city.
But I’m the other hand, this will give Latoya the ability to hire a minority owned electric company
Posted on 9/21/21 at 11:42 am to ell_13
They knew it was a bluff and called them on it.
Posted on 9/21/21 at 11:42 am to ell_13
Who’s been dissatisfied with Entergy New Orleans?
Please explain how another company would have done better.
Please explain how another company would have done better.
Posted on 9/21/21 at 11:42 am to Jimbeaux
quote:People addicted to that victim mentality.
Who’s been dissatisfied with Entergy New Orleans?
Posted on 9/21/21 at 11:43 am to ell_13
Can’t get away from LA soon enough
Posted on 9/21/21 at 11:43 am to CoachChappy
quote:
If I were them, I’d get the hell out of dodge too.
They are looking at moving their Corporate Headquarters again so this doesn't surprise me.
Posted on 9/21/21 at 11:43 am to ell_13
What is the need for city council to be able to maintain regulatory policy over the company? Are the New Orleans rates much lower than the rest of the state?
Posted on 9/21/21 at 11:43 am to Jimbeaux
quote:People are stupid. Entergy isn't exactly a sterling company, but gripes about how they handle storm restoration are monumentally stupid.
Please explain how another company would have done better.
This post was edited on 9/21/21 at 11:44 am
Posted on 9/21/21 at 11:43 am to Fat and Happy
quote:
But I’m the other hand, this will give Latoya the ability to hire a minority owned electric company
They're as top loaded with "minorities" as publicly traded company can be.
Posted on 9/21/21 at 11:43 am to ell_13
I'm sure New Orleans will do a very efficient job running their electrical utilities just like the bang-up job they do with garbage collection, sewerage, flood control, and road maintenance.
Posted on 9/21/21 at 11:43 am to Jimbeaux
I thought the foundation of the complaint was that Entergy basically promised they could reroute power in the event that the over river lines failed so the city could essentially be self sufficient and that turned out to be a lie.
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