Entergy Mississippi Customers to See Lower September Bills
Thursday, August 21st, 2008Contact: Immediately
Mara Hartmann
(601) 969-2520 (office)
(601) 594-9042 (cell)
mhartma@entergy.com
Utility’s plan approved by Mississippi Public Service Commission
Jackson, Miss. –A plan by Entergy Mississippi, Inc. that will lower customer bills for September was approved today by the Mississippi Public Service Commission.
The mid-quarter fuel adjustment, proposed by Entergy Mississippi in response to an unexpected decline in natural gas prices nationwide, will reduce September residential bills by 9.6 percent. The typical residential customer using 1,000 kilowatt hours per month will see a savings of nearly $13.
“We are pleased that the commission has approved our proposal, and happy that our customers will soon see relief from higher fuel prices,” said Haley Fisackerly, Entergy Mississippi president and chief executive officer. “We are in a national energy crisis and are working hard to find solutions that will benefit our customers.”
Still under review by the commission is the utility’s routine fourth quarter fuel adjustment proposal. If approved it would result in an additional 9 percent reduction in customers’ bills effective October 1. Combined, the two reductions would total an 18.6 percent decrease for the utility’s residential customers.
“We are hopeful this fourth-quarter fuel adjustment will also receive commission approval and cautiously optimistic that natural gas prices will continue to fall,” Fisackerly said. “Prices are still 60 percent higher than they were last year.”
The volatility of the natural gas market caused a 28 percent increase in customers’ bills beginning July 1. This adjustment impacted customers’ bills in July and August. However, in late July prices for natural gas began dropping, leading to the proposed mid-quarter fuel adjustment.
This volatility means that fuel prices could rise again and if they do they could have a negative impact on future customer bills as natural gas is Entergy Mississippi’s largest fuel source. While Entergy Mississippi uses a diverse mix of fuel to generate electricity at the lowest reasonable cost, nearly 60 percent of the current mix is natural gas.
The company has worked to manage through the increase, which reflects the actual costs of fuel incurred by Entergy Mississippi and is passed through dollar-for-dollar to customers with no profit for the company.
Entergy Mississippi, Inc. provides electricity to more than 433,000 customers in 45 counties. It is a subsidiary of Entergy Corporation. Entergy owns and operates power plants with approximately 30,000 megawatts of electric generating capacity, and it is the second-largest nuclear generator in the United States. Entergy delivers electricity to 2.6 million utility customers in Arkansas, Louisiana, Mississippi and Texas.
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Entergy Mississippi’s online address is www.entergy-mississippi.com.