You are the resilience plan

This is a comprehensive study of Entergy rates going back 20 years by Verite's Michael Isaac Stein. If you've been thinking your bills are higher than they've ever been, then, yes, you are correct. In the last year, alone, the average annual bill in New Orleans is up by 60 percent. The article also points out the City Council is poised to approve an additional 20 percent hike for "resilience upgrades." 

We've been on this horse for a while now. See here and here for some relatively recent posts about this. But, long story short, the main thrust of Entergy's "resilience" strategy is to shift the growing costs of climate change down to its captive ratepayers while investors and executives continue to reap extraordinary profits. You pay more for everything; that's the resilience strategy in a nutshell.  The Verite article shares comments from several parties who also make this point well. 

Some Entergy critics argue that there is also a broader and more simple reason bills are rising so fast — Entergy is favoring its shareholders over its customers. 

“Entergy’s mission is to enrich shareholders, so it’s a contributing factor for certain,” Harden said. “It’s about trapping New Orleans residents to ensure we’re always paying high bills, a cycle of billing we have no control over.”

At the same time as bills have reached historic highs, so have dividend payments to Entergy shareholders. Entergy New Orleans’ parent company, Entergy Corp., has paid out $3.2 billion in shareholder dividends since 2020. 

Burke and other advocates have long warned that the company has effectively shifted most of the risk of the business onto the shoulders of customers, who have to deal with erratic bills while shareholders enjoy steady, rising profits.

“Why should only residents be the ones who suffer as a result of climate change and international markets?” Burke said. “Why should people, especially in cities like New Orleans where a vast percentage of our population is in poverty, be holding up these Fortune 500 companies and their shareholders who are insulated from every risk at every turn? I don’t think there’s any world in which that is just or equitable.”

Why should the poorest and least powerful shoulder the burdens of maintaining capital through a global disaster? The short answer is, because that's always been how it's done.  Shifting the inevitable risks of climate change onto the most vulnerable is at the heart of US industrial policy now. You are the resilience plan. Your blood and your bones. It's not going to stop, either. Verite pulls a quote from Monique Harden for its headline that is apt enough here. There's simply "no end in sight" for the costs we're going to endure.