Entergy

Entergy Corporation is an integrated energy companyEntergy Corporation 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 10,000 megawatts of nuclear power.

1913: Entergy was founded by Harvey Couch on November 2, 1913 and is headquartered in New Orleans, LA.“ Entergy traces its history to November 13, 1913, with the formation of Arkansas Power Company. The rollout of meter installations began in Little Rock – about 50 miles from Malvern, Arkansas, where Entergy’s history began in 1913.

1922: Meanwhile, in 1922, the Electric Bond and Share Company (EBASCO, a subsidiary of General Electric) under Sidney Z. Mitchell merged several competing streetcar and electric utilities into New Orleans Public Service.

1923: In 1923, he merged four independent companies in Mississippi into Mississippi Power and Light.

1925: Both men knew that they could not continue competing for territory so in 1925 they joined forces, consolidating their properties into one large, interconnected system. In 1925, Electric Power and Light Corporation was formed, an EBASCO subsidiary headquartered in New Orleans, with Couch as its president.

1929: The Great Depression that began in 1929 brought hard times, reduced sales and shriveling capital markets to utilities.

1932: By 1932 there were eight holding companies controlling 73 percent of the investor-owned electric business.

1949: In 1949 EBASCO’s Electric Power and Light Corporation was dissolved. 1949: Middle South Utilities (MSU) is incorporated.

1953: In 1953 MSU became involved in a dispute with the United States government.

1959: The United States Court of Claims found no conflict of interest and granted the utilities $1.8 million in damages in 1959.

1961: Little Gypsy, located on the Mississippi River upriver from New Orleans, became the world’s first fully-automated generating unit in 1961. 1961: MSU begins a power exchanging contract with the Tennessee Valley Authority (TVA).

1963: As MSU’s second president, Andrus’ first major achievement was the creation of the service company, Middle South Services, Inc. (now known as Entergy Services, Inc.) in 1963.

1967: In a similar agreement in October 1967, Middle South united with Southern Company to coordinate planning and operation of their facilities for ten years. 1967: MSU begins a cooperative agreement with Southern Company; construction begins on Russellville, Arkansas nuclear plant.

1968: In 1968 the system entered the nuclear age when Arkansas Power and Light was granted a construction permit to build Arkansas Nuclear One Unit One near Russellville, Ark.

1969: 1969: Subsidiary System Fuels, Inc. is founded.

1970: In 1970, LP&L announced plans for its Waterford 3 nuclear unit near Taft, La. Floyd Lewis, who began as a lawyer with New Orleans Public Service, became president of MSU in 1970.

1974: In 1967 the company began construction of its first nuclear plant, built by its Arkansas Power & Light subsidiary. It began producing energy in 1974.

1975: 1975: MSU begins a joint project to build the Garyville, Louisiana refinery.

1977: By 1977 MSU was involved in its most ambitious construction program ever.

1979: The Public Utility Commission of Texas approved construction of Montgomery County Power Station, Entergy’s first new generation project in Texas since 1979.

1980: In 1980, the system’s first coal-fired unit came on line.

1981: 1981: MSU's Arkansas-Missouri Power is merged into Arkansas Power & Light.

1985: Mississippi regulators finally granted a $326 million interstate wholesale rate increase to Mississippi Power & Light in September 1985. Although earnings continued to be lower than the previous year, overall financial stability of the organization was on the upswing, as evidenced by the reinstatement on September 10 of its quarterly common stock dividend for the first time since its 1985 suspension. Reality set in, however, after production began at Grand Gulf in mid-1985.

1986: In 1986 President and Chairman Floyd Lewis was hospitalized, and Edwin Lupberger assumed Lewis's duties as MSU's difficulties continued.

1988: By the end of 1988, the company's financial recovery was basically complete, although its stock continued to sell at 75 percent of book value, nearly 39 percent less than the industry average.

1989: To face the challenges ahead, the company officially changed its name to Entergy Corporation at the annual meeting of stockholders in May 1989.

1991: In 1991 its New Orleans Public Service subsidiary reached an agreement with the New Orleans City Council that let the utility recover a portion of its investment in the Grand Gulf nuclear plant.

1992: On June 8, 1992, Entergy announced its plan to acquire Gulf States Utilities, which provided electric service to customers in southeastern Texas and southwestern Louisiana.

1996: 1996: CitiPower is acquired in January. Entergy Corporation's operating revenues went from $7.16 billion in 1996 to $9.53 billion in 1997, $11.49 billion in 1998, and $8.77 billion in 1999. Its consolidated net income in 1996 was $490.6 million.

1997: 1997: London Electricity is acquired in February.

1998: 1998: Company sells London Electricity and CitiPower. Shareholder dissatisfaction with the results of this strategy led to a shakeup of management, culminating with the ouster of longtime CEO Ed Lupberger in 1998.

1999: 1999: Pilgrim Nuclear Station is purchased.

2000: Entergy ranked first among surveyed American utilities for its one-year progress in customer satisfaction, according to a study published in April 2000. Company signs agreement with Environmental Defense Fund to hold greenhouse emissions to 2000 level, first United States utility to make such a pledge. 2000: Entergy acquires TLG Services and Indian Point 3 nuclear plant and signs agreements with The Shaw Group, Koch Industries, and Framatome Technologies.

2001: In 2001 it expected to close its purchase from Con Edison of Indian Point 1 and 2 plants. Meanwhile, Entergy owned, managed, or invested in many fossil-fuel and hydroelectric generating plants that in 2001 generated over 30,000 megawatts of electricity in the United States and other nations. 2001: Merger fails between Entergy and FPL Group Inc.

2003: 2003 Entergy Signs to Furnish Management to Cooper Nuclear Station.

2006: In April 2006, the company began moving back into its New Orleans headquarters.

2007: At the end of 2007, the Louisiana Public Service Commission approved Entergy Gulf States’ proposal to divide itself into two separate operating companies in Louisiana and Texas. In 2007, Entergy purchased the Palisades plant in Covert, Mich. from Consumers Energy. In 2007, the NRC granted the company the early site permit for a second nuclear unit at Grand Gulf in Port Gibson, Miss. In 2007 Entergy announced a plan to spin off its non-utility nuclear business and create a new, independent company, Enexus Energy Corporation, and EquaGen, a nuclear services joint venture with Enexus. In 2007 Entergy sponsored an influential study on poverty often cited in the national policy debate, and announced a renewed commitment to reduce greenhouse gas emissions.

2008: During 2008, Entergy was included in the Forbes list of American’s Most Trustworthy Companies, and received a special Award of Excellence from Platts Global Energy Awards for Entergy’s “extraordinary track record of standout performances year after year” over the past decade.

2009: The year 2009 began with ice storms in Arkansas that disrupted power to more than 100,000 customers.

2010: In April 2010, after several regulatory delays and a ruling by the New York Public Service Commission to reject the spin-off, Entergy made the decision to unwind the business infrastructure associated with the proposed new companies. NuStart’s efforts are cost-shared as part of DOE’s Nuclear Power 2010 program.

2011: In 2011 the company completed the acquisition of Unit 2 of the Acadia Energy Center, a 580-megawatt generating unit located near Eunice, La. The same year, Entergy Wholesale Commodities announced the sale of the Rhode Island State Energy Center, an approximately 583-megawatt, natural gas-fired combined-cycle generating plant in Johnston, R.I., that Entergy had purchased in 2011.

2013: After leading the company for 14 years, longer than any other CEO in company history, Wayne Leonard retired in January 2013.

2014: In 2014, the company announced plans to purchase Union Power Station. The company announced it plans to close and begin decommissioning its Vermont Yankee Nuclear Power Station at the end of 2014.

2015: Paul Hinnenkamp was named Chief Operating Officer and senior vice president in November 2015. In 2015, the company formally dedicated a new, 550MW natural gas unit at the existing Ninemile Point plant in Westwego, La., and announced plans to build the St Charles Power Station along the Mississippi River industrial corridor. In mid-2015, the Louisiana Public Service Commission approved Entergy’s proposal to combine Entergy Gulf States Louisiana and Entergy Louisiana.

2016: In November 2016, Entergy agreed to sell Vermont Yankee to NorthStar Group Services for accelerated decommissioning.

2018: In August 2018 Entergy agreed to sell the subsidiaries that own the Pilgrim and Palisades nuclear plants, after their shutdowns and reactor defuelings, to a Holtec International subsidiary for accelerated decommissioning.

2019: In January 2019, Entergy began a multiyear deployment of new, advanced meters for customers’ homes and businesses. In August 2019 the NRC approved the license transfer to Holtec, and the same month the sale of Pilgrim was completed.

2021: Entergy Texas began work this year on the Montgomery County Power Station with completion by 2021. By the end of 2021, the company plans to deploy advanced meters across our entire system to approximately 3 million customers.

We power life is Entergy's promise to create a better future for us all. We exist to operate a world-class energy business that creates sustainable value for our four stakeholders – owners, customers, employees and the communities in which we operate. This is our mission.