Entergy Prepares to Restart Nuclear Plant
Entergy Prepares to Restart Nuclear Plant: "Entergy Prepares to Restart Nuclear Plant
The Associated Press
Tuesday, September 6, 2005; 4:46 PM
CHICAGO -- Entergy Corp. is preparing its 1,100-megawatt Waterford nuclear plant near New Orleans for restart after it shut before Hurricane Katrina hit last week, a company executive said Tuesday.
Leo Denault, Entergy's chief financial officer, didn't say when the plant is expected online but said it will be ready when needed. Entergy is steadily reducing the number of post-storm outages in its territory, which means the need for power is increasing.
As of Tuesday morning, Entergy had restored power to about 631,000 of 1.1 million customers who lost service after Katrina, and was seeing its power load at 77 percent of normal, Denault said on a conference call with analysts.
Entergy usually has a 3,000-megawatt power supply shortfall, but a monthslong loss of customers in and around New Orleans will shrink that gap.
Both the U.S. Nuclear Regulatory Commission and Federal Emergency Management Agency have to authorize a Waterford restart after ensuring certain functions are in working order.
The NRC said late Friday that the agencies were likely to visit early this week. A spokesman wasn't available for immediate comment Tuesday.
Entergy said it's seeking "new and creative" ways to handle the financial impact of Katrina, one of the worst storms in the United States in more than a century.
Entergy sustained four times the number of outages it had ever recorded before _ at its worst, 1.1 million customers lost service.
Among the near-term solutions being explored are securing low-cost financing, extending the depreciable life of assets and redirecting power contracts from New Orleans.
C. Dale Sittig, one of five commissioners on the Louisiana Public Service Commission, said regulators will work with Louisiana Gov. Kathleen Blanco to help find some federal government relief.
Entergy hasn't released any estimates of what it will cost to restore power.
Complicating the recovery of restoration and repair costs and the collection of lost revenue is the displacement for what may be several months of 350,000 customers Entergy serves in and around New Orleans.
Sittig has estimated Entergy could lose 100,000 customers due to Katrina.
Entergy's financial reserves for storm damage have been depleted by previous storms and are currently at a deficit of $80 million, Denault said.
Owing to the hurricane, Entergy said it's unable to reaffirm previously issued 2005 earnings estimates.
Entergy shares rose 11 cents to close at $75.66 Tuesday on the New York Stock Exchange."
The Associated Press
Tuesday, September 6, 2005; 4:46 PM
CHICAGO -- Entergy Corp. is preparing its 1,100-megawatt Waterford nuclear plant near New Orleans for restart after it shut before Hurricane Katrina hit last week, a company executive said Tuesday.
Leo Denault, Entergy's chief financial officer, didn't say when the plant is expected online but said it will be ready when needed. Entergy is steadily reducing the number of post-storm outages in its territory, which means the need for power is increasing.
As of Tuesday morning, Entergy had restored power to about 631,000 of 1.1 million customers who lost service after Katrina, and was seeing its power load at 77 percent of normal, Denault said on a conference call with analysts.
Entergy usually has a 3,000-megawatt power supply shortfall, but a monthslong loss of customers in and around New Orleans will shrink that gap.
Both the U.S. Nuclear Regulatory Commission and Federal Emergency Management Agency have to authorize a Waterford restart after ensuring certain functions are in working order.
The NRC said late Friday that the agencies were likely to visit early this week. A spokesman wasn't available for immediate comment Tuesday.
Entergy said it's seeking "new and creative" ways to handle the financial impact of Katrina, one of the worst storms in the United States in more than a century.
Entergy sustained four times the number of outages it had ever recorded before _ at its worst, 1.1 million customers lost service.
Among the near-term solutions being explored are securing low-cost financing, extending the depreciable life of assets and redirecting power contracts from New Orleans.
C. Dale Sittig, one of five commissioners on the Louisiana Public Service Commission, said regulators will work with Louisiana Gov. Kathleen Blanco to help find some federal government relief.
Entergy hasn't released any estimates of what it will cost to restore power.
Complicating the recovery of restoration and repair costs and the collection of lost revenue is the displacement for what may be several months of 350,000 customers Entergy serves in and around New Orleans.
Sittig has estimated Entergy could lose 100,000 customers due to Katrina.
Entergy's financial reserves for storm damage have been depleted by previous storms and are currently at a deficit of $80 million, Denault said.
Owing to the hurricane, Entergy said it's unable to reaffirm previously issued 2005 earnings estimates.
Entergy shares rose 11 cents to close at $75.66 Tuesday on the New York Stock Exchange."
posted by Greta Jane at Wednesday, September 07, 2005
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