Entergy Corporation Proposes Potential Pathways Forward for Entergy New Orleans

Company will discuss management options at City Council meetings this week
NEW ORLEANS – Entergy Corporation (NYSE: ETR) announced today that it is preparing to respond to the New Orleans City Council with four preliminary options for the future operation and ownership of its subsidiary, Entergy New Orleans, LLC. These preliminary options are in response to the Sept. 14 announcement by Helena Moreno, president of the Council of the City of New Orleans and chairperson of its Utility Committee, that she intends to propose a resolution to study the future ownership of the electric and gas operations in the City of New Orleans, including municipalization, or a city-owned and managed utility.
“Despite a comprehensive and dedicated restoration effort that saw the overwhelming majority of New Orleans customers’ power restored within a week after the strongest hurricane ever to hit our region, several members of the council have expressed their intent to introduce and support a process that could potentially have another entity own and operate electric and gas service in the city,” said Rod West, utility group president of Entergy Corporation. “We are positioned to support the City Council as they evaluate various options and prepared to move forward with whatever path the council chooses.”
Entergy New Orleans, including its predecessor New Orleans Public Service Inc., has been part of Entergy Corporation and the fabric of the New Orleans community for more than 100 years. New Orleans was one of the first U.S. cities to have a public gas and electric light system


Get every new post delivered right to your inbox.

Original Source