Entergy Corp. (ETR) just unveiled an update.
Entergy Corporation and its subsidiaries have reached a preliminary settlement with the New Orleans City Council to resolve a series of claims related to their Unit Power Sales Agreement. This settlement, which aligns with previous agreements totaling $588 million, will see Entergy New Orleans receive an additional $98 million, subject to FERC approval. The agreement, which represents 84% of Grand Gulf Nuclear Station’s output managed by System Energy, also adjusts Entergy New Orleans’s future bills to reflect an authorized equity return of 9.65%. If approved, this settlement will reduce System Energy’s refund exposure significantly and is expected to be filed with FERC by May 2024.
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