Entergy Corporation
04/18/2024 | Press release | Distributed by Public on 04/18/2024 15:00
Material Event - Form 8-K
Item 7.01. Regulation FD Disclosure.
As a result of the black box settlement discussed in Item 8.01 below, System Energy Resources, Inc. ("System Energy") will refund a total of $116 million to Entergy New Orleans, LLC ("Entergy New Orleans") inclusive of approximately $18 million already received by Entergy New Orleans from System Energy and implement certain prospective changes to the rates it charges to Entergy New Orleans.
The settlement terms, including both the black box settlement and the prospective rate changes, are consistent with Mississippi Public Service Commission's 2022 global settlement and Arkansas Public Service Commission's 2023 global settlement with System Energy previously approved by FERC.
Entergy affirms its adjusted EPS and credit outlooks.
Cautionary Note Regarding Forward-Looking Statements
In this current report on Form 8-K, and from time to time, Entergy Corporation ("Entergy"), Entergy New Orleans and System Energy make certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, among other things, statements regarding Entergy's current financial and operational outlooks; expected impacts to credit metrics and ratings; and other statements of Entergy's, Entergy New Orleans' or System Energy's plans, beliefs, or expectations included in this report. Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this report. Except to the extent required by the federal securities laws, neither Entergy nor Entergy New Orleans nor System Energy undertakes any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
Forward-looking statements are subject to a number of risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied in such forward-looking statements, including (a) those factors discussed elsewhere in this Current Report on Form 8-K and in Entergy's, Entergy New Orleans' and System Energy's most recent Annual Report on Form 10-K, any of its subsequently filed Quarterly Reports on Form 10-Q, and any of its other subsequently filed reports and filings made under the Securities Exchange Act of 1934; (b) uncertainties associated with (1) Entergy's, including Entergy New Orleans and System Energy's rate proceedings, formula rate plans, and other cost recovery mechanisms, including the risk that costs may not be recoverable to the extent or on the timeline anticipated by the utilities and (2) implementation of the ratemaking effects of changes in law; (c) risks associated with operating nuclear facilities, including plant relicensing, operating, and regulatory costs and risks; (d) legislative and regulatory actions and risks and uncertainties associated with claims or litigation by or against Entergy and its subsidiaries; and (e) effects on Entergy, including Entergy New Orleans and System Energy, or its customers of (1) changes in federal, state, or local laws and regulations and other governmental actions or policies, including changes in monetary, fiscal, tax, environmental, or energy policies; (2) the effects of changes in commodity markets, capital markets, or economic conditions; and (3) the effects of technological change, including the costs, pace of development, and commercialization of new and emerging technologies.