Entergy Reports First Quarter Earnings
Company affirms guidance and financial outlooks
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NEW ORLEANS, April 28, 2021 /PRNewswire/ Entergy Corporation (NYSE: ETR) reported first quarter 2021 earnings per share of $1.66 on an as-reported basis and $1.47 on an adjusted basis (non-GAAP). We had a strong first quarter and our team successfully executed on several fronts, said Entergy Chairman and Chief Executive Officer Leo Denault. We reached settlements on several important issues, reducing risk, providing long-term clarity, and solidifying a clear path for our future growth. This enables us to continue to make investments in a cleaner generation fleet and a more reliable delivery system that benefit our customers and our communities, and that support the long-term growth of our business.
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On April 15, 2021, FERC issued a declaratory order confirming that under FERC Order No. 1000, incumbent New York Transmission Owners (“NYTOs”) have a federal right of first refusal (“ROFR”) for upgrades to their existing transmission facilities, including upgrades that are part of another Developer’s transmission project selected in the regional transmission plan for cost allocation. Specifically, FERC declared that the foundational agreements and Section 31.6.4 of the New York Independent System Operator, Inc. (“NYISO”) Open Access Transmission Tariff (“OATT”) established a ROFR of NYTOs to build, own and recover the cost of transmission upgrades to their existing facilities. In the same order, FERC denied requested clarification from the NYISO that such ROFR-exercising NYTOs could be considered “Developers” under the transmission planning process. FERC also provided additional clarity on the distinc
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E-1 – Electric Transmission Incentives Policy Under Section 219 of the Federal Power Act (Docket No. RM20-10-000). On March 20, 2020, the Commission issued a Notice of Proposed Rulemaking (NOPR) relating to electric transmission incentives policy pursuant to the Federal Power Act (FPA). In the NOPR, the Commission furnished proposed revisions to transmission planning and cost allocation processes following significant developments in the sector, reflecting a potential new focus on reliability and economic benefits rather than the current risks and rewards approach associated with specific projects. Further, the NOPR acknowledged policy shifts in the fifteen years following Order No. 679, which codified an approach to evaluate requests for incentives made by transmission owners and operators, as well as Order No. 1000 and the 2012 Policy Statement on transmission incentives applications. Namely, the NOPR proposed to: offer public utilities an return on equity (ROE) incenti
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Entergy Reports 2020 Financial Results, Initiates 2021 Earnings Guidance
2020 results in top half of guidance range
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NEW ORLEANS, Feb. 24, 2021 /PRNewswire/ Entergy Corporation (NYSE: ETR) reported fourth quarter 2020 earnings per share of $1.93 on an as-reported basis and 71 cents on an adjusted basis (non-GAAP). For the full year, the company reported 2020 earnings per share of $6.90 on an as-reported basis and $5.66 on an adjusted basis. We are reporting strong results for another very successful year. Our adjusted earnings per share were in the top half of our guidance range as we exceeded our $100 million cost savings target for the year, said Entergy Chairman and Chief Executive Officer Leo Denault. We ve built a culture of resiliency, and we couldn t be prouder of our employees who successfully delivered on our commitments in the face of extraordinary challenges. Our strong 2020 results reinforce our confiden