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Tue September 18, 2012
Isaac costs Entergy at least $400 million
Entergy Corp. says its estimated damages from Hurricane Isaac range from $400 million to $500 million, and the storm is expected to reduce the utility's third-quarter revenue.
In a news release on Tuesday, Entergy said it will pursue all reasonable avenues to recover storm costs, including using its storm reserves, borrowing, additional charges for customers, and insurance.
Entergy said it is unable to predict the degree of success it may have in these initiatives, the amount of restoration costs it may recover or when it may recover them.
Spokesman Michael Burns said it is too early to discuss the impact on individual or average customers.
Isaac left more than 787,000 Entergy customers without power.
Out to Lunch