ETR Entergy Corp

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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