Charlotte J. Cavell
NEW ORLEANS -- The results are in, and Entergy New Orleans customers are saving big thanks to the decision to join MISO, a regional transmission organization.
Customers saved an estimated $13 million during the first year of Entergy New Orleans' membership in MISO, formally known as the Midcontinent Independent System Operator, Inc. Entergy's utilities joined MISO on Dec. 19, 2013, after a lengthy period of regulatory review.
MISO manages the commitment and dispatch of generation on the transmission grid, maintains reliability, plans new transmission facilities, and operates markets for the purchase and sale of electricity and related products.
The $13 million in savings were largely driven by the more efficient commitment and dispatch of power plants, resulting in access to lower-cost generation through MISO's power market.
In addition, MISO has allowed Entergy New Orleans to reduce its required generation capacity reserves by 62 megawatts, producing additional long-term benefits and savings for its customers.
"Thanks to the foresight of the New Orleans City Council, we've been able to provide our customers with the wide range of benefits offered by membership in MISO, a membership from which they will benefit for years to come. Joining MISO is a great example of how we work to control customer costs and keep rates low so we can continue helping drive economic growth in New Orleans," said Charles Rice, president and CEO of Entergy New Orleans.
Entergy New Orleans, Inc. is an electric and gas utility that serves Louisiana's Orleans Parish. The company provides electricity to more than 171,000 customers and natural gas to some 105,000 customers. Entergy New Orleans 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.