NEW ORLEANS, Dec. 16, 2019 /PRNewswire/ -- Customers have saved approximately $1.3 billion on electric bills since the utility subsidiaries of Entergy Corporation (NYSE: ETR) became members of Midcontinent Independent System Operator, a regional transmission organization.
The estimated $1.3 billion in savings realized between 2014 and 2018 is largely because, through participation in MISO, Entergy is part of a large pool of generating facilities that stretch across the vast MISO footprint. By sharing in that large pool, Entergy can maintain reliability with less power generation capacity than if it were on its own – and pass the resulting savings along to customers. In addition, because MISO dispatches a large pool of generation to serve the needs of all customers in its footprint, the dispatch is more efficient, resulting in a lower delivered cost of energy and long-term benefits for customers.
"When we proposed joining MISO, we told our customers this would be a good business decision that would benefit them each month. We believe we have made good on that promise," said Rod West, utility group president. "Our membership in MISO has been a highly effective tool in helping our customers keep more of their hard-earned money in their pockets. It has also helped us control costs and keep our rates among the lowest in the nation. Since joining MISO five years ago, Entergy customers have saved an average of $261 million per year. These are real savings for our customers."
Entergy customers enjoy some of the lowest electricity rates in the country. Entergy's residential rates are 14% below the regional and 27% below the national average, according to data compiled by the U.S. Energy Information Administration for 2018.
MISO manages the flow of electricity on the transmission grid, facilitates the planning of new transmission facilities and operates markets for the purchase and sale of wholesale energy and other products. Its market footprint stretches from Canada to the Gulf of Mexico.
About Entergy Corporation
Entergy Corporation (NYSE: ETR) is an integrated energy company engaged primarily in electric power production and retail distribution operations. Entergy owns and operates power plants with approximately 30,000 megawatts of electric generating capacity, including nearly 9,000 megawatts of nuclear power. Entergy delivers electricity to 2.9 million utility customers in Arkansas, Louisiana, Mississippi and Texas. Entergy has annual revenues of $11 billion and approximately 13,500 employees.
SOURCE Entergy Corporation