PSC Approves Merger Between Entergy Utilities
The companies formerly known as Entergy Louisiana and Entergy Gulf States Louisiana will now be known collectively as Entergy Louisiana. This after the state's Public Service Commission approved a merger between the two utilities. The consolidation that is expected to take effect in October should result in a significant savings for customers.
One estimate of those savings was put at $140 million by Entergy Louisiana President Phillip May. He told the Louisiana Radio Network,
We are willing to guarantee $107 million dollars in credits to our customers on their bills. Customers should be able to see that as early as December 1st.
To bring that figure home to the consumer level most customers of the utility will see a savings of about $11 in the first year.
May went on to explain some of the reasoning behind the merger. He said the larger company will have a better ability to acquire capital for improvements to equipment and systems.
To upgrade our grid, replace our aging power plants and make them more efficient
The newly merged company expects to invest as much as $5 billion in revitalizing and upgrading current systems and equipment over the next four years.