Mississippi Entergy customers will see $80 credit or check and long-term savings

Mississippi Entergy customers will see $80 credit or check and long-term savings

Entergy Mississippi customers will get a break on their bills because of a historic settlement announced Thursday by the Mississippi Public Service Commission.Entergy’s customers win. Almost $300 million of benefits are flowing back to Entergy’s customers,” said Public Service Commissioner Brent Bailey.Earlier This week, Entergy officials and MPSC commissioners approved the settlement agreement that ends Mississippi’s part in multi-state rate proceedings before the Federal Energy Regulatory Commission involving the customer rate impacts of Grand Gulf Nuclear Station. Public Service Commissioner Brandon Presley said the settlement includes $230 million cash to customers and $65 million in advance long-term savings. Presley said this summer, residential customers could get either an $80 credit on their bill, or a check for $80. He said the logistics likely will be worked out with Entergy in July.”This is truly a historic day,” Presley said. “Never did we dream we would see this much of a settlement.”Entergy officials said in a news release that an estimated $200 million of the benefits will be used to offset high fuel prices being incurred to generate electricity. Entergy Mississippi customers will receive the remaining benefits of the settlement in the coming years in the form of lower bills than they otherwise would see. “By resolving these issues, we can focus on the long-term future of Grand Gulf Nuclear Station to ensure it remains the critical, emissions-free power source it is to serve our customers,” Haley Fisackerly, Entergy Mississippi president and CEO, said in a statement. “With natural gas prices having tripled over the last year, raising customer power bills as a result, the low-cost power we get from Grand Gulf is a financial lifeline to our customers right now.”Entergy has more than 461,000 customers in Mississippi, the majority of whom live in the central part of the state.

Entergy Mississippi customers will get a break on their bills because of a historic settlement announced Thursday by the Mississippi Public Service Commission.

“Entergy’s customers win. Almost $300 million of benefits are flowing back to Entergy’s customers,” said Public Service Commissioner Brent Bailey.

Earlier this week, Entergy officials and MPSC commissioners approved the settlement agreement that ends Mississippi’s part in multi-state rate proceedings before the Federal Energy Regulatory Commission involving the customer rate impacts of Grand Gulf Nuclear Station.

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

“This is truly a historic day,” Presley said. “Never did we dream we would see this much of a settlement.”

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

“By resolving these issues, we can focus on the long-term future of Grand Gulf Nuclear Station to ensure it remains the critical, emissions-free power source it is to serve our customers,” Haley Fisackerly, Entergy Mississippi president and CEO, said in a statement. “With natural gas prices having tripled over the last year, raising customer power bills as a result, the low-cost power we get from Grand Gulf is a financial lifeline to our customers right now.”

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

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