NEW ORLEANS - Today, Council President and Utility, Cable, Telecommunications and Technology Committee Chair Helena Moreno announced a plan to lower rates that goes into effect November 2021 through the Formula Rate Plan (FRP).
The proposal involves pressing ahead with $18 million of customer bill credits, accepting 100% of the identified error reductions from Entergy's initial submission, and creating a $5 million fund to address gas customer bills. In total, the plan would negate any impacts on electric bills until next spring and create a pathway to assist gas customers.
"This process was not easy and was not without its challenges, but the entire time I've remained laser-focused on protecting customers who have already suffered enough this year," said Council President Moreno. "Whether its storm resiliency or rates, I take the great responsibility to fight for the public's interests. I believe this plan, which holds electric bills steady and provides strong financial relief opportunities, will give customers comfort and safe harbor from bill increases during this critical time. I urge my colleagues to help advance this plan and stand up for New Orleanians who need bill relief now and throughout the winter. I appreciate all of the advocates, stakeholders, Entergy New Orleans, our advisors and Council staff who worked through this process."
The revised resolution spelling out this path forward can be found here. It will be heard today, October 27, at the special Council meeting beginning at 10:30 AM.