This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Entergy Utilities Receive Green Light For MISO

Stocks in this article: ETR





NEW ORLEANS, Nov. 15, 2012 /PRNewswire/ -- Paving the way for significant customer savings, regulators in New Orleans and Mississippi today issued decisions supporting proposals by the Entergy operating companies they regulate to join the Midwest Independent Transmission System Operator, or MISO, in December 2013. These actions complete all of the retail regulatory decisions needed for the six Entergy operating companies to move forward with their plan to join MISO.

(Logo: http://photos.prnewswire.com/prnh/20120913/MM74349LOGO)

The Mississippi Public Service Commission decision allows for up to $284 million in estimated savings over the next decade for Entergy Mississippi's customers. In Louisiana, the New Orleans City Council decision is projected to result in more than $40 million in savings to New Orleans electric customers.

Across Entergy's operating companies' footprint, customer savings are projected to reach $1.4 billion in the first decade of MISO membership. Independent studies also forecast significant economic value for electric co-operatives, independent power producers, municipalities and other industry participants, resulting from the move to MISO.

 "This represents a huge step forward in our effort to ensure a robust, efficient electrical system serving the future of our city," said Charles Rice, Jr., president and chief executive officer of Entergy New Orleans. "MISO's massive footprint and its experience in operating day-ahead and real-time regional energy markets make it the right fit for our customers. MISO also helps us prepare to meet the demands of a city with a growing appetite for reliable, affordable electricity."

In Mississippi, Haley Fisackerly, president and chief executive officer of Entergy Mississippi said, "It's clear that MISO is good for our customers and the communities we serve – and we're appreciative of our commission's decision that joining MISO is in the public interest. This forward-thinking initiative will produce savings for customers and enhance Mississippi's economically competitive position."

Today's decisions fulfill requests by Entergy's operating companies to transfer functional control of their transmission facilities to MISO in December 2013. The Louisiana Public Service Commission issued the first ruling in May followed by Arkansas and Texas regulators in October. Each request to join MISO was subjected to extensive review as retail regulators sought to ensure that the proposed move would serve the public interest. 

"The Entergy operating companies noted from the very beginning that the greatest benefits would accrue to our customers if all of the operating companies join MISO at the same time," said Theo Bunting, president of utility operations for Entergy Services, Inc. "That makes today's rulings great news not only for our customers in New Orleans and Mississippi, but also for our customers everywhere the Entergy operating companies serve.

"In New Orleans, Mississippi and throughout the region, our local teams have worked closely with their regulators, staffs and advisors, and stakeholders to demonstrate that the move to MISO is in the best interest of our customers and all of those who are served by our transmission system," added Bunting. "We're pleased that our retail regulators have determined that MISO is in the public interest. Now there's a lot of work to do to implement the move to MISO and thus seize these benefits for our customers."

MISO is the oldest and one of the largest regional transmission organizations – a firm that manages congestion on the grid and operates sophisticated markets for the purchase and sale of electricity. The savings projected with MISO are largely attributable to its organized power markets, which allow for a more efficient commitment and dispatch of generating plants, to economies of scale offered by an RTO of MISO's size, and to MISO's transmission cost allocation methodology that equitably allocates the costs of transmission projects to those receiving the benefits from those projects.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,805.41 +127.51 0.76%
S&P 500 1,964.58 +13.76 0.71%
NASDAQ 4,483.7150 +30.9230 0.69%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs