Regulators approve agreement that lowers bills and future rates, pays for grid investment
Following the New Orleans City Council’s February 2018 resolution directing Entergy New Orleans to quantify the benefits to customers of the Tax Cuts and Jobs Act, the company has agreed, under the direction of the council’s advisors, to flow through approximately $50 million in tax savings benefits by July 2019.
Entergy Louisiana customers will see a series of rate reductions over the remainder of 2018 under an agreement approved today by the Louisiana Public Service Commission.
Entergy New Orleans filed with the New Orleans City Council Monday its proposal for implementing the benefits of the recent federal tax reform legislation. If approved by the council, customers would realize approximately $47 million annually in near-term tax savings and an additional $71 million in savings over the longer term.
Entergy is proposing bill reductions beginning in April 2018.
Entergy Arkansas, Inc. filed its plan on Tuesday to provide customers approximately $466 million in benefits as a result of the Tax Cuts and Jobs Act.
Entergy Chairman and Chief Executive Officer J. Wayne Leonard today issued a statement in support of the introduction of the American Power Act, which was announced today by Sens. John Kerry, D-Mass., and Joe Lieberman, I-Conn.