A Krewe of Muses float parodies Entergy with a pun on the Powerball lottery drawing. "Powerless" is a good way to describe the position of Entergy ratepayers faced with yet another rate hike.
Shame on all of y'all for causing Hurricane Ida just to make all these unexpected costs happen to Entergy. That was rude. I hope you learn your lesson when they make you pay to clean it all up.
Entergy New Orleans said Wednesday that it will ask the New Orleans City Council for a green light to issue $150 million in bonds to cover past and future storm costs, effectively passing on the expense to ratepayers.
The move, if approved, would mean that Entergy New Orleans' customers would see a surcharge on their monthly bills that would run for the 15-year life of the bonds.
The surcharge before interest costs works out at about $4 a month, on average, for each of Entergy New Orleans' 209,000 customers.
If City Council approves this request it will be the second time in as many months they will have agreed to bail out Entergy and its shareholders either by passing the costs onto ratepayers or though an outright public subsidy. Because the one thing we can never do is threaten the company's multi-billion dollar profits. Actually we just finished explaining all of this.
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