Third decrease this year is due to lower-than-expected natural gas prices
JACKSON, Miss. -- Customers of Entergy Mississippi, Inc. will see yet another rate reduction in the fall, this one due to lower-than-expected natural gas prices. Starting with the September billing cycle, typical residential customers using 1,000 kilowatt hours per month will pay $101.81, approximately $6.50 less than is currently charged.
"Natural gas prices have decreased since the third quarter of 2014 and have remained lower than expected, and those fuel savings are being flowed back to customers through a decrease in bills," said Haley Fisackerly, Entergy Mississippi president and CEO.
Fuel is used to generate electricity, and costs are passed through to customers dollar-for-dollar with no profit to the company.
This is the third decrease this year. The first was a $1.78 decrease beginning in February when Entergy's "Bright Future" rate modernization plan went into effect. The second decrease of $1.77 beginning last July was due to the Ad Valorem Tax rider being revised as part of the same plan. Combined with the latest decrease, September bills will be nearly $10 lower per 1,000 kWh than at the start of the year.
Entergy's residential rates continue to be among the lowest in the country, approximately 20 percent below the national average.
"We're proud of the investments our company has made for our customers in nuclear and natural gas-fired power generation," Fisackerly said. "We believe, over the long term, this will continue to help keep our rates below the national average."
Customers' electric bills are made up of a combination of rates and usage. For simple tips on how to lower energy usage without sacrificing comfort, visit Entergy's Save Me Money web page.
Entergy Mississippi, Inc. provides electricity to approximately 442,000 customers in 45 counties. It is a subsidiary of Entergy Corporation. Entergy Corporation is an integrated energy company engaged primarily in electric power production and retail distribution operations. Entergy owns and operates power plants with approximately 30,000 megawatts of electric generating capacity, including nearly 10,000 megawatts of nuclear power, making it one of the nation's leading nuclear generators. Entergy delivers electricity to 2.8 million utility customers in Arkansas, Louisiana, Mississippi and Texas. Entergy has annual revenues of more than $12 billion and approximately 13,000 employees.