utilities

Entergy’s utility companies in Louisiana are continuing to monitor Tropical Storm Isaac and are preparing for its potential impact on the City of New Orleans and the state.

Louisiana is receiving a $17 million federal grant for improvements to public drinking water systems.

The U.S. Environmental Protection Agency announced the funding Thursday.

The dollars, from the EPA's Drinking Water State Revolving Fund, are going to the state Department of Health and Hospitals for loan assistance for water system infrastructure upgrades and repairs.

The program is designed to promote safe drinking water for communities.

A federal appeals court has rejected an effort by Louisiana utility regulators to make Entergy Corp. subsidiaries in Arkansas and Mississippi pay for ending an agreement with their Entergy counterparts in Louisiana and Texas.

The ruling Tuesday by an appeals court in Washington deals with an agreement requiring the separate Entergy utilities to offer roughly equal electricity rates. At times, this has resulted in Entergy Arkansas making payments to Entergy affiliates with higher production costs — causing Arkansas customers to pay more.

US Army Corps of Engineers

Louisiana has so far avoided disastrous drought conditions declared in nearly half the counties in the United States. But southeast Louisiana is starting to feel the effects of a lower Mississippi River.

Entergy Corp.'s net income rose 16 percent in the second quarter after the power company received favorable tax terms on financing costs for fixing damage to lines and equipment caused by hurricanes Katrina and Rita.

The increase also reflected stronger sales to Entergy's utility customers.

The New Orleans-based company reported Tuesday that its net income rose to $365 million, or $2.06 per share, for the three months ended June 30, up from $315.6 million, or $1.76 per share, a year ago.

Entergy Corp. said it expects its second-quarter earnings to be about $2.05 per share, down from $1.76 a share for the same period a year ago.

The New Orleans-based utility company plans to release its financial report for the quarter later in July.

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