Entergy New Orleans now has more than 160,000 electric customers, nearly 85% of pre-Hurricane Katrina levels; utility had 190,000 customers prior to 2005 storm

NEW ORLEANS , August 29, 2011 (press release) – New study shows company's economic impact of nearly $1 billion in New Orleans area

Nearly six years after Hurricane Katrina, evidence of the regrowth of New Orleans is virtually everywhere you look. One example lies in the rise of the Entergy New Orleans, Inc. customer count, which mirrors local population growth.

Entergy New Orleans currently has more than 160,000 electric customers, which is nearly 85 percent of pre-Katrina levels. Prior to the 2005 storm, the company had approximately 190,000 electric customers.

"New Orleans has made, and continues to make, great strides in its regrowth," said Charles L. Rice, Jr., president and chief executive officer of Entergy New Orleans, Inc. "We are encouraged to have our customer count steadily moving upward. It is a sign that the city is rebounding since Katrina, and we look forward to continuing to support the area's resurgence."

The company's rise in customer count comes on the heels of an economic impact study that shows that Entergy is the sixth largest employer in the New Orleans metro area and is responsible for more than $866 million in local economic activity annually.

The Entergy New Orleans-commissioned study was authored by Timothy P. Ryan, Ph.D., former chancellor of the University of New Orleans and dean of the UNO College of Business Administration.

Dr. Ryan's study concludes:

Entergy is the only Fortune 500 company (listed at 213) headquartered in the city.
In 2010, Entergy's operations in the New Orleans metro area were responsible for $866.32 million in total spending.
Entergy helps to support more than 6,000 jobs in the metro area, including 2,600 direct employees of the company and 3,400 jobs supported by company and employee spending.
Entergy companies contributed more than $4.3 million to charitable causes in the New Orleans area in 2010.


A copy of the study can be found at entergyneworleans.com/about_entergy.

"The presence of a major company like Entergy provides a significant boost for any city," Ryan said. "In addition to the jobs and spending that the company supports, having a company ranked in the Fortune 500 sends the message that the city and its surrounding area are a viable location for successful businesses. And having a company that provides affordable and reliable electric power is an important part of attracting new businesses and new jobs to the area."

"We are committed to helping to attract new business to the area and the jobs that come with it," Rice said. "As we look to the future, we are constantly trying to find ways to better serve our customers."

Rice noted that Entergy's next step in supporting economic development is the company's proposed membership in the regional transmission organization, Midwest Independent Transmission System Operator. The regional transmission organization pools member resources to generate and supply power efficiently while driving costs down for utility customers. The move to MISO is currently under consideration by the New Orleans City Council. More information can be found at entergy.com/futurepower.

Entergy New Orleans, Inc. is an electric and gas utility serving Orleans Parish and is a subsidiary of Entergy Corporation. The company provides electricity to more than 160,000 customers and natural gas to more than 100,000 customers in Orleans Parish.

entergy-neworleans.com

* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.