Entergy Arkansas Calculates Impact of Christmas Day Storm
LITTLE ROCK, Ark., Jan. 24, 2013
LITTLE ROCK, Ark., Jan. 24, 2013 /PRNewswire/ -- Entergy Arkansas has compiled
preliminary damage estimates following the Christmas Day ice storm that
gripped Central Arkansas and left more than 194,000 customers without power
and caused extensive damage due to ice, snow and high wind.
Total restoration costs for the repair and/or replacement of Entergy Arkansas'
electrical facilities in areas damaged from the winter storm are estimated to
be $55 to $65 million. Entergy Arkansas plans to present a cost recovery
proposal to the Arkansas Public Service Commission in a base rate case
proceeding filing planned in March 2013.
Entergy Arkansas provides electricity to approximately 700,000 customers in 63
counties. Entergy Arkansas is a subsidiary of Entergy Corporation, which is an
integrated energy company engaged primarily in electric power production and
retail distribution operations. Entergy Corporation's utilities own and
operate power plants with approximately 30,000 megawatts of electric
generating capacity, including more than 10,000 megawatts of nuclear power,
making it one of the nation's leading nuclear generators. The Entergy
utilities deliver electricity to 2.8 million utility customers in Arkansas,
Louisiana, Mississippi and Texas. Entergy Corporation has annual revenues of
more than $11 billion and approximately 15,000 employees.
In this news release, and from time to time, Entergy Arkansas makes certain
"forward-looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995. Except to the extent required by the federal
securities laws, Entergy Arkansas undertakes no obligation to publicly update
or revise any forward-looking statements, whether as a result of new
information, future events, or otherwise.
Forward-looking statements involve a number of risks and uncertainties. There
are factors that could cause actual results to differ materially from those
expressed or implied in the forward-looking statements, including (a) those
factors discussed in: (i) Entergy Corporation and Subsidiaries' Form 10-K for
the year ended December 31, 2011, (ii) Entergy Corporation and Subsidiaries'
Form 10-Q for the quarters ended March 31, 2012, June 30, 2012 and September
30, 2012 and (iii) Entergy Corporation and Subsidiaries' other reports and
filings made under the Securities Exchange Act of 1934; (b) uncertainties
associated with rate proceedings, formula rate plans and other cost recovery
mechanisms; (c) uncertainties associated with efforts to remediate the effects
of major storms and recover related restoration costs; (d) nuclear plant
relicensing, operating and regulatory risks, including any changes resulting
from the nuclear crisis in Japan following its catastrophic earthquake and
tsunami; (e) legislative and regulatory actions and risks and uncertainties
associated with claims or litigation by or against Entergy Corporation and
Subsidiaries and its subsidiaries; (f) conditions in commodity and capital
markets during the periods covered by the forward-looking statements, in
addition to other factors described elsewhere in this release and subsequent
securities filings and (g) risks inherent in the proposed spin-off and
subsequent merger of Entergy Corporation's electric transmission business with
a subsidiary of ITC Holdings Corp. Entergy Corporation cannot provide any
assurances that the spin-off and merger transaction will be completed and
cannot give any assurance as to the terms on which such transaction will be
consummated. The spin-off and merger transaction is subject to certain
conditions precedent, including regulatory approvals and approval by ITC
Holdings Corp. shareholders.
SOURCE Entergy Arkansas
Contact: Julie Munsell, Entergy Arkansas, Inc., email@example.com,
Press spacebar to pause and continue. Press esc to stop.