‘Entergy Clients Win:’ MPSC Announces $300 Million Settlement

Entergy Mississippi customers are getting a break on their bills because of a landmark settlement announced Thursday by the Mississippi Public Service Commission. this week, Entergy officials and MPSC commissioners approved the settlement agreement ending Mississippi’s role in multi-state tariff lawsuits before the Federal Energy Regulatory Commission regarding the impact on Grand Gulf Nuclear Station’s customer rates. Public Services Commissioner Brandon Presley said the settlement includes $230 million in cash to customers and $65 million in long-term upfront payments. Presley said residential customers could get either an $80 credit in their account this summer, or an $80 check. He said the logistics will likely be worked out with Entergy in July. “This is a truly historic day,” Presley said. “We never thought we would see such a large settlement.” Energy officials said in a press release that an estimated $200 million of the benefits will be used to offset the high fuel prices incurred to generate electricity. Entergy Mississippi customers will receive the remaining benefits of the settlement in the form of lower bills than they would otherwise see for years to come. “By solving these issues, we can focus on the long-term future of Grand Gulf Nuclear Station to ensure it remains the critical, zero-emission energy source it is to serve our customers,” said Haley. Fisackerly, president and CEO of Entergy Mississippi. in a statement. “With natural gas prices having tripled in the past year, raising customer utility bills, the cheap power we get from Grand Gulf is currently a financial lifeline for our customers.”Entergy has more than 461,000 customers in Mississippi, including the majority reside in the central part of the state.

Entergy Mississippi customers are getting a break on their bills because of a landmark settlement announced Thursday by the Mississippi Public Service Commission.

“Entergy’s customers are winning. Nearly $300 million in benefits are flowing back to Entergy’s customers,” said Brent Bailey, Commissioner for Public Services.

Earlier this week, Entergy officials and MPSC commissioners approved the settlement agreement that ends Mississippi’s share of multi-state tariff lawsuits before the Federal Energy Regulatory Commission regarding the impact on Grand Gulf Nuclear Station’s customer rates.

Public Services Commissioner Brandon Presley said the settlement includes $230 million in cash to customers and $65 million in long-term upfront payments. Presley said residential customers could get either an $80 credit in their account this summer, or an $80 check. He said the logistics will likely be worked out with Entergy in July.

“This is a truly historic day,” Presley said. “We never would have dreamed that we would see such a large settlement.”

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Entergy officials said in a press release that an estimated $200 million of the benefits will be used to offset the high fuel prices incurred to generate electricity. Entergy Mississippi customers will receive the remaining benefits of the settlement in the form of lower bills than they would otherwise see for years to come.

“By solving these issues, we can focus on the long-term future of Grand Gulf Nuclear Station to ensure it remains the critical, zero-emission energy source it is to serve our customers,” said Haley. Fisackerly, president and CEO of Entergy Mississippi. in a statement. “With natural gas prices having tripled in the past year, driving up customer energy bills, the cheap power we get from Grand Gulf is currently a financial lifeline for our customers.”

Entergy has more than 461,000 customers in Mississippi, the majority of whom reside in the central part of the state.

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