Thursday, June 23, 2022

Entergy Settles for $300,000,000

 The Public Service Commission issued the following statement. 

The Mississippi Public Service Commission announced today a $300,000,000 settlement with Entergy Mississippi, the state’s largest electric utility, and other parties. The unanimous, bipartisan settlement which will produce cash payments or bill credits to Entergy Mississippi’s 461,000 customers, along with mitigation of future rate increases caused by volatile global energy markets, represents the Public Service Commission’s largest cash settlement in state history. 

In 2017, the Commission began litigation before the Federal Energy Regulatory Commission regarding certain accounting and financing aspects of the Grand Gulf Nuclear Power Station that produced today’s settlement. The $300 million settlement with Entergy Mississippi and other parties is related to 13 litigated proceedings before the Federal Energy Regulatory Commission. This global settlement for the State of Mississippi will deliver expeditious benefits to Entergy Mississippi’s customers through refunds and prospective rate reductions, plus decrease regulatory uncertainty at the Grand Gulf Nuclear Station.
The results of the Settlement include:
  • Producing roughly a total of $300 million in benefits for Entergy Mississippi customers
  • $200 million will be used to offset high natural prices caused by global spikes in energy markets. 
  • Without infusion of this $200 million, Entergy Mississippi customers would have seen an over $15 dollar a month increase beginning in January 2023.
  • The $200 million offset to Entergy Mississippi’s natural gas procurement to make electricity will also erase over $20 million in fees Entergy Mississippi’s customers would have incurred..
  • $35 million will be used for a onetime bill credit or check of approximately $80 for each customer.
  • The remaining $65 million in savings will provide additional benefits that will mitigate future costs to customers.
  • Entergy Mississippi, at the expense of their shareholders, will incur costs of $600,000 over the next four years for an annual audit of certain financial aspects of the Grand Gulf Nuclear Power Station as directed by the Commission.
“Today’s settlement is a huge win for Entergy Mississippi customers, especially in the Central District, where nearly 70% of Entergy Mississippi customers reside,” Central District Commissioner Brent Bailey said. “The $80 credit for each customer— and every other dollar that we can help customers save on their electric bill— goes back into their pockets during a time that Mississippians face increasing prices on many consumer goods and services. The conclusion of this lawsuit also allows the Commission to direct Entergy Mississippi to use $200 million to offset anticipated rate increases which will also put money back into their pockets. As Commissioner, it’s an honor to be a part of the success of this noteworthy settlement.”
“I thank my colleagues and the Commission’s staff for the hard work that resulted in this historic settlement. To be able to send cash back to Mississippians at a time when they are being hit with high gasoline prices at the pump and inflation at every turn is one of my proudest achievements as a Public Service Commissioner. In a global energy crisis, we have taken the lead to brunt these effects, as much as possible, and provide long-term and short-term financial benefits to our people. We will continue to hunt in every nook and cranny for ways to save Mississippians money and hold utility companies accountable,” said Northern District Commissioner Brandon Presley.
Over the coming weeks, the Commission will address and order the disbursement of the Settlement.


Don Drane said...

Been an Entergy customer since the day MP&L gave-way to the giant. I guess I should be happy to get eighty bucks out of the Three-Hundred-Million. My dad, a 35 year MP&L retiree (back about 1980) would be proud. We could take that $80 windfall, buy crickets and worms and head out across the levee at Rosedale. Might even spring for a six-pack of Bud Lite.

On the other hand, accountants are the greatest shell-game artists in the universe and nothing that's proposed (in this 'settlement') to cover future mystery increases will ever hit the boards.

Anonymous said...

Hopefully we will actually get some money back from this. AT the moment, Im not holding my breath for the $80.00 mentioned.

Anonymous said...

You people somehow think electric vehicles are going to be better than gasoline? Just wait until these same people control your ability to move freely around the country!

Anonymous said...

So $200 million of the $300 million settlement will serve as a "credit" against future rate increases? Really? What will keep Entergy from manufacturing bogus rate increases to quickly draw down this phantom credit? Hell, make it $500 million in phantom credits against bogus future rate increases while you're at it.

Anonymous said...

"Let them eat cake..."

Anonymous said...

@4:47 -Oil executives aren’t known for their generosity either, but at least you can always install a generator or solar panels if you don’t trust you electricity supply. It’s a bit tougher to make your own gasoline.

Anonymous said...

You can make your own ethanol and biodiesel and burn it in any vehicle. Just don’t put more ethanol in the tank than you can burn in a day. Because that shit attracts moisture like a magnet.

Oil and gasoline are a commodity traded on the global market. Oil execs and governments can try to manipulate, but ultimately the free market sets the price.

Anonymous said...

Damn good lawyering - on behalf of Entergy it appears. Settle for $300 million, but $200 of that is maybe/pretend money.

$80 per customer. I guess that is current customer? What about someone that paid Entergy for the past 40 years, but quit being a customer say a year ago? Do they get their pittance $80 too - after all, they were the ones that suppoesedly were being overcharged.

Originally this claim was to be prorated based on what the customers paid - guess the accountants didn't want to have to go figure all that out and give back to those according to what they paid. Now, it will be to 'not charge those next year for what they use'.

Kinda like the settlement that the City of Jackson is making with all its deliquent non-payers of their water (and sewer, and garbage - but lets never talk about those details.) If they swear they will pay in the future, and never straight pipe again, or never just take advantage of a moritorium, then they can keep on getting their water. While the rest of us will face a doubling of our garbage fees.

Oh to be a utility - always on the winning side.

County Cletus said...

Look for widespread blackouts to make up for the difference

Anonymous said...

No doubt they make it back in the next 12 months and blame Covid, supply chain and Russia. Brilliant move by Entergy. PSC got played.

Anonymous said...

Taxation without representation. Fines are the biggest con game of all time

Anonymous said...

Isn't Entergy charging the customers $400,000,000+ for "smart" energy - which means they can read your meter and your emails from their comfy offices?

Anonymous said...

Anybody who thinks Entergy is paying one dime is naive. You, the customer are paying for this B.S., and a few lawyers are getting rich.

Anonymous said...

714am said it well 👏

Anonymous said...

And, we've forgotten that WE paid for Grand Gulf and were promised " free" electricity as it would generate MORE than needed for Mississippi customers. That excess would be "sold" to cover operation expenses. The shareholders didn't pay for it to be built!

Anonymous said...

$300,000,000 is already down to $35 million. And that will be deducted from your electric bill. Who exactly thought this was a good idea, besides Entergy?

Anonymous said...

Obviously just a hollow diversion from the fact that the PSC can't do one damned thing to address the real elephant in every house...robo-calls.

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Trollfest '09

Trollfest '07 was such a success that Jackson Jambalaya will once again host Trollfest '09. Catch this great event which will leave NE Jackson & Fondren in flames. Othor Cain and his band, The Black Power Structure headline the night while Sonjay Poontang returns for an encore performance. Former Frank Melton bodyguard Marcus Wright makes his premier appearance at Trollfest singing "I'm a Sweet Transvestite" from "The Rocky Horror Picture Show." Kamikaze will sing his new hit, “How I sold out to da Man.” Robbie Bell again performs: “Mamas, don't let your babies grow up to be Bells” and “Any friend of Ed Peters is a friend of mine”. After the show, Ms. Bell will autograph copies of her mug shot photos. In a salute to “Dancing with the Stars”, Ms. Bell and Hinds County District Attorney Robert Smith will dance the Wango Tango.

Wrestling returns, except this time it will be a Battle Royal with Othor Cain, Ben Allen, Kim Wade, Haley Fisackerly, Alan Lange, and “Big Cat” Donna Ladd all in the ring at the same time. The Battle Royal will be in a steel cage, no time limit, no referee, and the losers must leave town. Marshand Crisler will be the honorary referee (as it gives him a title without actually having to do anything).

Meet KIM Waaaaaade at the Entergy Tent. For five pesos, Kim will sell you a chance to win a deed to a crack house on Ridgeway Street stuffed in the Howard Industries pinata. Don't worry if the pinata is beaten to shreds, as Mr. Wade has Jose, Emmanuel, and Carlos, all illegal immigrants, available as replacements for the it. Upon leaving the Entergy tent, fig leaves will be available in case Entergy literally takes everything you have as part of its Trollfest ticket price adjustment charge.

Donna Ladd of The Jackson Free Press will give several classes on learning how to write. Smearing, writing without factchecking, and reporting only one side of a story will be covered. A donation to pay their taxes will be accepted and she will be signing copies of their former federal tax liens. Ms. Ladd will give a dramatic reading of her two award-winning essays (They received The Jackson Free Press "Best Of" awards.) "Why everything is always about me" and "Why I cover murders better than anyone else in Jackson".

In the spirit of helping those who are less fortunate, Trollfest '09 adopts a cause for which a portion of the proceeds and donations will be donated: Keeping Frank Melton in his home. The “Keep Frank Melton From Being Homeless” booth will sell chances for five dollars to pin the tail on the jackass. John Reeves has graciously volunteered to be the jackass for this honorable excursion into saving Frank's ass. What's an ass between two friends after all? If Mr. Reeves is unable to um, perform, Speaker Billy McCoy has also volunteered as when the word “jackass” was mentioned he immediately ran as fast as he could to sign up.

In order to help clean up the legal profession, Adam Kilgore of the Mississippi Bar will be giving away free, round-trip plane tickets to the North Pole where they keep their bar complaint forms (which are NOT available online). If you don't want to go to the North Pole, you can enjoy Brant Brantley's (of the Mississippi Commission on Judicial Performance) free guided tours of the quicksand field over by High Street where all complaints against judges disappear. If for some reason you are unable to control yourself, never fear; Judge Houston Patton will operate his jail where no lawyers are needed or allowed as you just sit there for minutes... hours.... months...years until he decides he is tired of you sitting in his jail. Do not think Judge Patton is a bad judge however as he plans to serve free Mad Dog 20/20 to all inmates.

Trollfest '09 is a pet-friendly event as well. Feel free to bring your dog with you and do not worry if your pet gets hungry, as employees of the Jackson Zoo will be on hand to provide some of their animals as food when it gets to be feeding time for your little loved one.

Relax at the Fox News Tent. Since there are only three blonde reporters in Jackson (being blonde is a requirement for working at Fox News), Megan and Kathryn from WAPT and Wendy from WLBT will be on loan to Fox. To gain admittance to the VIP section, bring either your Republican Party ID card or a Rebel Flag. Bringing both and a torn-up Obama yard sign will entitle you to free drinks served by Megan, Wendy, and Kathryn. Get your tickets now. Since this is an event for trolls, no ID is required. Just bring the hate. Bring the family, Trollfest '09 is for EVERYONE!!!

This is definitely a Beaver production.

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Trollfest '07

Jackson Jambalaya is the home of Trollfest '07. Catch this great event which promises to leave NE Jackson & Fondren in flames. Sonjay Poontang and his band headline the night with a special steel cage, no time limit "loser must leave town" bout between Alan Lange and "Big Cat"Donna Ladd following afterwards. Kamikaze will perform his new song F*** Bush, he's still a _____. Did I mention there was no referee? Dr. Heddy Matthias and Lori Gregory will face off in the undercard dueling with dangling participles and other um, devices. Robbie Bell will perform Her two latest songs: My Best Friends are in the Media and Mama's, Don't Let Your Babies Grow up to be George Bell. Sid Salter of The Clarion-Ledger will host "Pin the Tail on the Trial Lawyer", sponsored by State Farm.

There will be a hugging booth where in exchange for your young son, Frank Melton will give you a loooong hug. Trollfest will have a dunking booth where Muhammed the terrorist will curse you to Allah as you try to hit a target that will drop him into a vat of pig grease. However, in the true spirit of Separate But Equal, Don Imus and someone from NE Jackson will also sit in the dunking booth for an equal amount of time. Tom Head will give a reading for two hours on why he can't figure out who the hell he is. Cliff Cargill will give lessons with his .80 caliber desert eagle, using Frank Melton photos as targets. Tackleberry will be on hand for an autograph session. KIM Waaaaaade will be passing out free titles and deeds to crackhouses formerly owned by The Wood Street Players.

If you get tired come relax at the Fox News Tent. To gain admittance to the VIP section, bring either your Republican Party ID card or a Rebel Flag. Bringing both will entitle you to free drinks.Get your tickets now. Since this is an event for trolls, no ID is required, just bring the hate. Bring the family, Trollfest '07 is for EVERYONE!!!

This is definitely a Beaver production.

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