As a regular, full-time non-bargaining employee of the Entergy System firms, you’ll be eligible for a complete benefits package. Typical services include:
Is there a pension plan at Entergy?
In 2021, Entergy Corp., based in New Orleans, plans to contribute $356 million to its pension funds.
According to a 10-K filing with the Securities and Exchange Commission on Feb. 26, the electric utility business donated $316 million to the plans in 2020.
In its previous 10-K filing, Entergy predicted that it would contribute $216 million to the plans in 2020.
Entergy’s pension plan assets were $6.854 billion as of December 31, while estimated benefit obligations were $9.144 billion, resulting in a funding ratio of 75%, up from 74.6 percent the year before.
As of December 31, the company’s qualifying pension plans had discount rates ranging from 2.6 percent to 2.83 percent, down from a range of 3.26 percent to 3.43 percent a year earlier.
The actual allocation of the pension plans as of December 31 was 42% fixed income, 38% domestic equities, 19% overseas equities, and 1% other.
Is Entergy a reputable firm?
Is it a decent place to work for Entergy? Based on over 391 anonymous employee ratings, Entergy receives a 3.8 out of 5 star rating. 75 percent of employees would suggest Entergy to a friend, and 73 percent are optimistic about the company’s future. Over the previous 12 months, this rating has dropped by -3 percent.
Blocking a push for local renewables
Entergy has a track record of employing dubious methods to induce customers to pay for dubious investment decisions. They most recently engaged in an Astroturf effort (a phony grassroots movement) in which they recruited paid actors to pretend to favor a gas-fired facility that was widely opposed by local residents.
After hearing from the public, the New Orleans City Council decided to establish a mandate mandating that a certain percentage of electricity be generated from renewable sources (like wind and solar).
The vast majority of responses favored a road to a 100% renewable power standard (RES), with some preferring a 100% clean electricity standard (CES). The latter opens the way for technologies such as carbon capture and sequestration, as well as nuclear power.
Entergy, on the other hand, had a different plan. They recommended a 70% CES as a way to save their ailing nuclear power reactors. Entergy affiliates already deliver upwards of 57 percent of their annual energy from nuclear power to Entergy New Orleans (though it tends to be much lower due to outages at Grand Gulf Nuclear Plant). They also look to be yielding a very high rate of return for Entergy.
Entergy’s existing resources, along with the addition of 150MW of new renewables, would bring ENO to (or very close to) the 70% target. It would also safeguard any new gas plants they have from becoming stranded assets.
UCS assisted a group of campaigners in New Orleans who were campaigning for a 100 percent Resilient Renewable Portfolio Standard earlier this year with research and analysis. According to UCS’s findings, the city’s citizens could save money by transitioning to 100 percent renewables and efficiency.
Entergy objected, claiming that the coalition (which included UCS) was participating in the intellectual equivalent of climate denial. The act of a desperate corporation is to insinuate that the Union of Concerned Scientists is engaging in the conceptual equivalency of climate denial.
Hiding behind FERC
Entergy has attempted a number of desperate measures, including equating UCS with climate denial. They’ve started threatening city council members and advocates.
Entergy also tried to use FERC approval for affiliate transactions as a stumbling block to building the 100% RPS future that NOLA deserves.
Entergy operates two coal facilities and a nuclear power plant that sell electricity to several utilities, including ENO, through a number of subsidiaries. FERC is the only agency that regulates wholesale trades.
Transactions between the nuclear plant (Grand Gulf) have a lengthy and tumultuous history that dates back to the 1980s. The transactions were heavily challenged, with some cases reaching the Supreme Court. Entergy renewed a contract to offer business-as-usual operations service. Grand Gulf is facing accusations from the Louisiana Public Service Commission and the Arkansas Public Service Commission, alleging that company is overcharging for its services.
Entergy currently claims that ENO is compelled to purchase electricity from Entergy-owned Grand Gulf and hence cannot purchase all of its electricity from renewable sources. Furthermore, Entergy contends that ENO consumers are responsible for any Grand Gulf investments made by the utility, with no control on the prudence or fairness of those investments.
Regardless of the wholesale squabbles, my key point is that state and local regulators still have a role to play in oversight. A lot of issues appear to be entirely within the purview of municipal governments.
Is the current contract renewal “prudent” for consumers, to say the least? Perhaps it was, given the utility’s other attractive options.
Another question is whether these types of affiliate transactions are generating a rate of return for Entergy that is higher than the permissible rate of return by state and local utility commissions.
I’m not claiming that the answer to one or both of these questions is yes. To discover a solution, the question would almost definitely have to be litigated before the commission or the courts.
Entergy wants the city council and residents of New Orleans to believe that this is a black-and-white problem. That is simply not the case. This isn’t the simple scenario Entergy wants you to believe it is. Entergy is attempting to muscle its way to its desired outcome.
I’d also add that the contract can be broken or at least renegotiated in another fashion. Because Entergy owns both ENO and SEPI, it may simply choose to do so. The contract’s counterparties have the ability to renegotiate conditions on their own. So it’s not like Entergy can’t helpin fact, the simplest answer is one they can implement on their own.
NOLA has to act now
Grand Gulf is uncompetitive in the market, according to UCS’s 2018 nuclear power analysis, and would be replaced by fossil fuels if decommissioned, but it didn’t account for the city of New Orleans’ consideration of 100 percent renewable energy. We can achieve a smooth transition to clean energy with enough preparation and strong climate and clean energy legislation, according to the UCS analysis. New Orleans may avoid investing in natural gas plants and doubling down on Grand Gulf if it makes a firm commitment to ramp up renewables today, all while cutting emissions and saving consumers money.
New Orleans appears to be in an abusive relationship with its utilities, in my opinion. Their relationship is one of power and control, and Entergy is attempting to use its authority to make NOLA feel helpless, as if it has no control over its clean energy future, despite the fact that the city has every right to do so.
The citizens of New Orleans, as well as elected leaders, have control over the city’s power. They canand willtake charge of that future by taking concrete steps to combat climate change, which affects everyone in the city’s lives and livelihoods.
What is the meaning of Entergy?
Entergy Corp. is a fully integrated energy corporation based in the Deep South of the United States, primarily engaged in electric power generation and retail distribution. Its headquarters are in New Orleans, Louisiana’s Central Business District.
Is Entergy part of the Fortune 500?
Entergy Corporation is a fully integrated energy firm that operates in the areas of electric power generation, transmission, and retail distribution. In Arkansas, Louisiana, Mississippi, and Texas, Entergy serves 3 million utility consumers. With nearly 30,000 megawatts of electric producing capacity, including 7,000 megawatts of nuclear power, Entergy owns and runs one of the cleanest large-scale power generating fleets in the United States. Entergy, based in New Orleans, Louisiana, has a $10 billion yearly revenue and employs over 12,500 people.
How do I alter my Entergy name?
It’s an easy process if you’ve married, divorced, or legally changed your name, or if you just want to correct a typo. Simply contact the utility company and inform them of the situation. Some businesses will make the change right away, while others may send you a “change of account holder information” form to fill out. Fill out this form and provide a copy of your marriage certificate, divorce decree, or court order permitting the name change with it. You can usually edit your account holder information online if you handle your bills online. Log in to your account, alter your name, and explain why you want to change your name. After that, just click “change information” and you’re done.
Is Entergy a profit-driven organization?
Despite fewer sales across the board due to lower demand for power from merchants, businesses, industry, and even home consumers during the epidemic, Entergy Corp. recorded a record profit of nearly $1.4 billion last year, up 11% from 2019.
Entergy Chairman and Chief Executive Leo Denault said on Wednesday that despite lower sales, the shareholder-owned utility, which is the only Fortune 500 company headquartered in New Orleans, was able to increase profit due to sharp cuts in fixed costs, including “workforce attrition,” trimming employee expenses, and deferring spending on some projects.
Is Entergy an ercot product?
Although most of Texas is open to electric competition, which allows customers to save money on their power bills by shopping for a low electric rate, large portions of the state remain under the control of a monopoly utility provider, with customers unable to avoid the monopoly’s high prices. While a small number of customers at one of these monopolies, Entergy Texas, may soon have a limited option to shop for their energy supply, the proposed program has fallen short of customers’ aspirations for genuine competition.
The high rates paid by monopoly utilities in sections of Texas that are not open to competition (El Paso Electric, Entergy Texas, etc.) put firms in such areas at a competitive disadvantage compared to their competitors in places where electric prices are lower.
This is especially evident at Entergy Texas, whose service territory runs from the Louisiana border west to Houston, including sections of the Houston metro area such as Conroe and The Woodlands. CenterPoint serves the majority of Houston, including a portion of The Woodlands, and is open to electric choice, which has resulted in cheaper energy costs.
In February, for example, an average residential customer at Entergy Texas who used 1,000 kWh paid $113.92 for electric service, or 11.3 cents per kWh. Residential customers at CenterPoint, on the other hand, could choose from fixed rates as low as $8/kWh, saving them 30%. Why can’t Entergy customers shop for their power provider like their neighbors at CenterPoint can, with such low prices available through competition?
The transmission and distribution cables used by Entergy Texas are not part of the state’s main grid, known as ERCOT, which covers about 75% of the state. Entergy is instead linked to the Eastern Interconnect, which serves the eastern part of the United States.
As a result, the Entergy Texas system was cut off from ERCOT’s wholesale competition, which began in the mid-1990s and cleared the way for retail electric choice in 2002. While there is some wholesale competition on the Entergy system, there is no organized market for buyers and sellers of power, as there is in ERCOT, and moving power around the Entergy grid from new, competitive generators to established demands is challenging.
Nonetheless, once certain criteria are met, Texas law mandates that all investor-owned utilities transition to retail energy competition. In order to achieve this goal, Entergy conducted a lengthy research over the last decade, eventually proposing to detach its system from the Eastern Interconnect and join ERCOT via the building of new transmission lines, allowing its consumers to shop for their energy provider.
However, the idea was stalled indefinitely for a variety of reasons, including the cost of the new transmission, and the Texas legislature granted Entergy a respite on bringing electric choice to its service region unless certain conditions were met.
Unfortunately for customers, since Entergy’s transition to competition plan was shelved in 2009 in response to such legislation, the company’s rates have continued to rise, despite the fact that electric rates in areas where customers have a choice, such as CenterPoint, which is right next to Entergy’s service area, are at historic lows. Despite the discrepancy in rates, Entergy does not appear to be bringing widespread electric choice to its territory anytime soon.
However, select major customers may be able to participate in a limited choice scheme, but the program falls short of promises by not allowing many commercial and industrial customers to shop for power. In particular, the 2009 legislation that postponed Entergy’s transition to competition stipulated that Entergy must establish a competitive market “Certain large customers would be eligible for a “competitive generation service” tariff, which would allow them to bypass Entergy’s system power in favor of power supplies chosen by them.
The competitive generation service tariff was a compromise designed to provide non-residential customers some control over their energy supply in exchange for not opposing the region’s implementation of a full-fledged choice program.
Unfortunately, the competitive generating service program has grown relatively limited in scope as it has progressed through numerous actions before state regulators. Only roughly 70 Entergy customers those on the company’s Large Industrial Power Service (LIPS) tariff would be eligible for the scheme. Customers would only be eligible for competitive generation service if they had a capacity of at least 5 MW in, and the total capacity of the competitive generation service program would be limited to 115 MW.
Small and mid-sized business clients, such as retail outlets and office buildings, would not be allowed to pool their demand to satisfy the 5 MW barrier required for competitive generation service. Smaller commercial customers were supposed to have choice under the competitive generation service tariff through aggregation, but under the proposed 5 MW threshold, these customers would be stuck paying higher electric rates than their Houstonian neighbors at CenterPoint for years, until full competition comes to Entergy.
PUC Commissioner Kenneth Anderson decided, in response to what has become a relatively limited program, that “Everyone has worked incredibly hard to create a mouse,” he said, expressing sorrow that more Entergy consumers would not be able to choose their energy supplier at this time.
