Entergy expects increased profits

So read the headline in the Vicksburg Post. While Mississippians are being forced to pay much more for their electric service, Entergy’s profits are soaring. Is this fair to consumers? What’s your opinion?

Published in: on July 20, 2008 at 8:18 am  Comments (6)  

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6 CommentsLeave a comment

  1. It makes me angry and I feel powerless to do anything about it. I want electricity, it powers my air conditioner and refrigerator. I like having lights at the flip of a switch and enjoy my computer time.

    The question I would ask is what can we do be energy independent? Can I create a system to power my own energy needs? What are the alternatives? Why is there no competition? Where are our legislators and why haven’t they made it legally advantageous for us to become independent in this area?

  2. Just Sayin, did you read my mind? LOL

    I too want to know what we can do. It infuriates me to no end to have them raise their rates and then brag about their profits. What can we do? What the legislators do? I am researching ways to go green.

  3. The supposed reason for this rate increase is the increase in the price of natural gas. But natural gas prices have plummeted in the past two weeks, from about $12/mmcf to about $9/mmcf. If Entergy continues to collect the 28% increase (applicable for three months according to the PUC), then after three months they should have to drop the rates tremendously to make up for the overcharges. They may even be forced to apply a negative fuel adjustment. That is, if they’re honest – and that’s a big “IF.”

  4. Natural gas prices were down to 7.9 today (from 12 a few weeks back). Entergy should rescind most if not all of their “28% rate increase.” If they don’t, you should all call or write the PSC and your senator/representative.

  5. A front page story in the Post 8/23 edition states that Entergy is reducing rates 9.6%. Yippee. Increase them 28%, reduce them 9.6%, at a time when natural gas prices have dropped from over $13/mmbtu to less than $8/mmbtu. Completely out of context, too, is Fisackerly’s (Entergy Mississippi president) statement that natural gas prices are 60% higher than last year. True, if you look just at August. But prices last year in May and November were $8/mmbtu, the same as they are now; the dip to $5 in August 2007 was just that – a transitory dip.

  6. One more thing. As I’ve said before, the objective of the Entergy top cats ( and most other corporate officers) is to keep their stock prices high so that they can earn a few more million in bonuses. They could care less about you and me.

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