| Type | Public (NYSE: ETR) S&P 500 Component |
|---|---|
| Industry | Energy industry |
| Founded | 1949 |
| Headquarters | New Orleans, Louisiana |
| Services | Electricity (and natural gas in New Orleans and Baton Rouge, La) |
| Revenue | US$13.1 Billion (FY 2008)[1] |
| Operating income | US$2.43 Billion (FY 2008)[1] |
| Net income | US$1.24 Billion (FY 2008)[1] |
| Total assets | US$36.6 Billion (FY 2008) [2] |
| Total equity | US$8.28 Billion (FY 2008)[2] |
| Employees | 14,700 (2008) |
| Website | http://entergy.com |
Entergy Corporation is an integrated energy company engaged primarily in electric power production and retail distribution operations. It is headquartered in the Central Business District of New Orleans, Louisiana.
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The company was founded as Middle South Utilities in 1949 to acquire several companies in the South Central United States that had previously been owned by General Electric. It changed its name to Entergy in 1989, and merged/bought Gulf States Utilities, based in Beaumont, Texas, as of 12:00 midnight, January 1, 1994. After Hurricane Katrina hit that city, Entergy temporarily relocated the 1,500 employees and contractors who worked at the headquarters to other cities, including Clinton, Mississippi, Little Rock, Arkansas, and The Woodlands, Texas. In April 2006 the company began moving back into its New Orleans headquarters.[3] Since its inception, Entergy has been headquartered in New Orleans. That city had also been home to Entergy's various corporate predecessors since 1922.
Entergy's service territory includes almost all of Louisiana (except the northwest and a small corner of the east), the eastern three-fourths of Arkansas, the western half of Mississippi and part of southeastern Texas, including the Beaumont-Port Arthur-Orange and Conroe-Woodlands areas.
A member of the Fortune 500, Entergy owns and operates power plants with approximately 30,000 megawatts of electric generating capacity, and it is the second-largest nuclear generator in the United States after Exelon Corporation. It had annual revenues of more than $11 billion in 2010 and approximately 15,000 employees.[4]
Entergy's main operating segments consist of the U.S. Utility segment and the Non-Utility Nuclear segment. The U.S. Utility segment provides retail electricity services to approximately 2.7 million customers in Arkansas, Louisiana, Mississippi, and Texas. The Non-Utility Nuclear segment operates a total of ten nuclear power plants:
The company also announced that it plans to obtain a license for a new reactor at its River Bend site, although the company has not decided whether to build it. The company's nuclear division is headquartered in Jackson, Mississippi.
Entergy operates over 41 plants using natural gas, nuclear, coal, oil and hydroelectric power with approximately 30,000 megawatts of electric generating capacity to serve its 2.7 million customers in the Gulf South.[5] Its extensive transmission system carries approximately 23,000 megawatts of power across more than 15,500 miles (24,900 km) of interconnected lines within a 112,000-square-mile (290,000 km2) area.[6]
Entergy is the only U.S. utility to make the Dow Jones Sustainability Index (DJSI) nine years in a row. The DJSI is a listing of the companies whose overall environmental, social and economic sustainability performance scores were in the top 10 percent for their sector.[7][8] Entergy was named in 2008 to Forbes list of America's Most Trustworthy Companies, a ranking based on corporate governance practices and accounting transparency.[9]
On February 24, 2010, the Vermont Senate voted to prevent the Vermont Public Service Board from issuing the necessary certificate that would allow for the Vermont Yankee plant [10] to have its license renewed for another 20 years. The vote will not affect current operation of the plant, and the issue could be revisited by the legislature in either a special session later in 2010 or in its next regular session in 2011.
In 2010 Entergy and its charitable foundation awarded more than $16.3 million in grants to almost 3,000 nonprofit organizations. Entergy along with its employees and customers raised more than $2.3 million in local bill payment assistance funds in 2010. Entergy employees and retirees logged more than 68,000 volunteer hours in 2009.[11]