Entergy Corporation reports developments tied to its regulated electric utility operations in Arkansas, Louisiana, Mississippi and Texas, where its operating companies generate, transmit and distribute electricity to more than 3 million customers. Recurring news includes quarterly earnings, capital plans, rate filings, grid resilience work, generation additions and customer agreements for large electric-service needs.
Company updates also cover shareholder dividends, common stock offerings with forward components, debt and equity financing activity, subsidiary preferred-stock dividends, sustainability and performance reporting, and regulatory proceedings before state utility commissions. Entergy's generation and investment themes include modern natural gas, nuclear and renewable resources, along with transmission and distribution projects serving its regional customer base.
Entergy Texas has initiated plans to seek approval for the construction of the Orange County Advanced Power Station, a 1,215-megawatt dual fuel facility located near Bridge City, Texas. This plant aims to meet increasing energy demands in Southeast Texas and is projected to provide approximately $1.5 billion in net benefits to customers by reducing reliance on energy markets. The project is expected to generate over 7,000 direct jobs during construction and almost $1.8 billion in economic activity.
The facility will incorporate hydrogen fuel, ensuring zero carbon emissions and promoting long-term sustainability.
Entergy Corporation will release its second-quarter 2021 financial results on August 4, before the market opens. Company leadership will discuss these results on a conference call at 10 a.m. CT that same day, accessible via webcast or by phone. Entergy, which serves 3 million customers across four states, boasts an annual revenue of $10 billion and approximately 12,500 employees. The company is recognized for its clean energy production, with a generating capacity of around 30,000 megawatts.
The board of directors of Entergy Texas (NYSE: ETI-PR) has declared a quarterly dividend of $0.336 per share on its preferred stock. This dividend will be payable on July 15, 2021, to shareholders of record as of July 1, 2021. Entergy Texas serves approximately 473,000 customers across 27 counties and is a subsidiary of Entergy Corporation, which operates one of the cleanest large-scale power generating fleets in the U.S.
Entergy Corporation (NYSE: ETR) has successfully completed the sale of the Indian Point Energy Center to a subsidiary of Holtec International, aiming to expedite decommissioning activities by decades. The facility's final operating unit, Unit 3, was shut down on April 30, 2021, after 45 years of operation. This sale follows regulatory approvals from the U.S. Nuclear Regulatory Commission and the New York State Public Service Commission. Entergy is transitioning away from nuclear operations, with plans for further divestments.
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Entergy Corporation's Indian Point Energy Center Unit 3 will permanently shut down on April 30, 2021, concluding nearly 60 years of operation. This decision is part of a settlement with New York State, driven by consistently low energy prices impacting revenue. Unit 3 is notable for achieving a world record with 751 continuous days of operation. Since acquiring the units, Entergy increased their output significantly, generating 25% of New York City's power. Entergy plans to transfer the facility to Holtec International for prompt decommissioning, with existing employees offered relocation opportunities.
Entergy Corporation (NYSE: ETR) reported Q1 2021 earnings per share of $1.66, up from $0.59 in Q1 2020, with adjusted earnings at $1.47, compared to $1.14 year-over-year. The company achieved settlements that mitigate risks and pave the way for future growth in cleaner energy generation. Key business highlights include renewable resource RFPs from multiple subsidiaries and successful resolution of rate plans. Entergy maintained its adjusted EPS guidance for 2021 at $5.80 to $6.10, despite potential uncertainties from exiting the wholesale commodities business.
Deanna Rodriguez has been appointed president and CEO of Entergy New Orleans, LLC, effective May 9, 2021. She succeeds David Ellis, who becomes Entergy Corporation's chief customer officer. Rodriguez brings nearly 30 years of experience, including vice president roles in regulatory and public affairs. She has been instrumental in aligning stakeholder interests with Entergy's customer-centric plans and has initiated successful programs, such as Energy Smart. Rodriguez holds a master's degree in public affairs from the University of Texas at Austin, and her leadership aims to enhance customer satisfaction.
Entergy Corporation (NYSE: ETR) has appointed David Ellis as its first-ever chief customer officer, effective May 9, 2021. Ellis, previously president and CEO of Entergy New Orleans, will focus on enhancing customer experiences and developing innovative solutions to meet their needs. His leadership includes overseeing the startup of the 128-megawatt New Orleans Power Station and promoting renewable energy projects. With nearly three decades in the energy sector, Ellis aims to align Entergy's services with customer goals around reliability, affordability, and sustainability.
Entergy Corporation (NYSE: ETR) released its 2020 Integrated Report, highlighting its resilience during unprecedented challenges, including the COVID-19 pandemic. The report outlines key achievements like a 37% reduction in carbon emissions since 2000 and over $1.1 billion invested in local suppliers. It emphasizes Entergy's commitment to reliable, affordable energy and community support, with nearly $19 million in charitable contributions. The report reinforces Entergy's goal for a carbon-free future and strong financial results despite the adversities faced in 2020.