Entergy Corp. Prepares Responses to City Council for Entergy New Orleans
September 21 2021 - 12:57PM
Dow Jones News
By Stephen Nakrosis
Entergy Corp. said it has prepared four preliminary options to
present to the New Orleans City Council regarding the future
operation and ownership of Entergy New Orleans LLC, a subsidiary of
the company
"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,"
Entergy said.
The options to be presented include a merger of Entergy New
Orleans with Entergy Corp. subsidiary Entergy Louisiana, a spin-off
of Entergy New Orleans as a standalone company, a sale of Entergy
New Orleans or having the city assume direct management of the
electric and gas systems.
Rod West, utility group president of Entergy Corp, said:
"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." He
added "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 provides electricity to more than 200,000
customers and natural gas to more than 108,000 customers, the
company said.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
September 21, 2021 12:42 ET (16:42 GMT)
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