Utilities
Utilities - Regulated Electric
$31.39B
N/A
Key insights and themes extracted from this filing
Entergy Corporation's net income attributable to common shareholders decreased from $391.2 million in Q2 2023 to $48.9 million in Q2 2024. This decline is primarily due to a $317 million settlement charge related to pension liabilities and regulatory expenses of $151 million related to an agreement with the Louisiana Public Service Commission.
Utility operating revenues increased by $122.7 million, driven by a $35 million increase due to retail electric price and a $79 million increase due to volume/weather. The increase in industrial usage is primarily due to an increase in demand from large industrial customers, primarily in the petroleum refining industry.
Entergy Louisiana recorded regulatory charges of $150 million in Q2 2024 to reflect the effects of an agreement in principle to renew Entergy Louisiana's formula rate plan and resolve other retail dockets. This significantly impacted Entergy Louisiana's contribution to Entergy's overall financial performance.