Press Releases
Entergy Selected to Prominent Climate Disclosure Leadership Index for Fourth Time
September 24, 2007
New Orleans, La. – In a report released September 24, 2007 the Carbon Disclosure Project honored Entergy Corporation as “Best in Class” in its approach to climate change disclosure. This marks the fourth consecutive time Entergy has been recognized by the CDP, which encompasses over 315 global investors with more than $41 trillion in assets.
The CDP report is a survey of responses from the “Financial Times 500” corporations on the issue of climate change. In the report, Entergy was included in the “Climate Disclosure Leadership Index,” a prestigious honor roll for global corporations addressing the challenges of climate change. The Climate Disclosure Leadership Index is comprised of 68 companies that show distinction in their responses to the CDP survey based on each company’s reporting of greenhouse gas emissions, and an independent assessment of their climate change strategies.
“It is an honor to receive such a high level of commendation from an organization dedicated to encouraging honest, open communication with investors on the challenges and opportunities we anticipate in a carbon constrained economy,” said J. Wayne Leonard, chairman and chief executive officer of Entergy Corporation. “Climate change is the defining issue of our generation. At Entergy, we’ve concluded that the costs of reducing our impact on the global climate are far lower than the costs of picking up the pieces after a climate-related natural disaster. This is not merely a business decision; it is our corporate social responsibility to do what is right for future generations.”
All candidates for the index were assessed relative to their peers and judged based on which companies have the most comprehensive climate change disclosure practices. CDP used a proprietary carbon risk model to analyze the net carbon exposure of all industry sectors represented in the Financial Times 500, and selected the 10 industry clusters with the highest exposure to carbon risks and opportunities. Climate Disclosure Leadership Index members were distinguished by their awareness of the risks and opportunities of climate change, as well as the quality and effectiveness of programs put in place to reduce overall greenhouse gas emissions.
“Entergy has set itself apart from its peers by disclosing the information required by investors to judge its readiness for the challenges and opportunities posed by climate change,” said CDP Chief Executive Paul Dickinson.
The Carbon Disclosure Project is a special project of Rockefeller Philanthropy Advisors in New York. The group of investors is not a legal entity and the Carbon Disclosure Project has no authority to make any other statement on behalf of the participants. Full details on CDP, the CDP reports and the responses from corporations can be found at www.cdproject.net.
Entergy 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, and it is the second-largest nuclear generator in the United States. Entergy delivers electricity to 2.6 million utility customers in Arkansas, Louisiana, Mississippi and Texas. Entergy has annual revenues of more than $10 billion and approximately 14,500 employees.
Entergy Selected to 2008 Dow Jones Sustainability World Index
September 11, 2007
For the sixth consecutive year, Entergy was selected to the exclusive Dow Jones Sustainability World Index and the Dow Jones Sustainability North American Index.
Entergy was the only U.S. utility selected to the world index and one of only 16 utilities chosen worldwide - a prestigious distinction. Entergy ranked best in class for occupational safety; environmental policy and environmental management; stakeholder engagement; climate strategy; and talent attraction and retention. They also scored in the top percentile for corporate governance, labor practice indicators and environmental reporting.
The Dow Jones Sustainability World Index (DJSI) monitors the financial, environmental and social performance of leading sustainability-driven companies worldwide, selecting companies based on performance scores that are in the top 10 percent for their sector. Through this distinction, Entergy joins an elite group of 52 U.S. companies selected by the DJSI World, and is one of only 11 utilities selected by the DJSI North America.
"Our designation as a DJSI company is an extremely noble distinction that communicates Entergy's vision of honesty, integrity and sustainability to all our stakeholders," said Entergy Chairman and CEO J. Wayne Leonard. "We adhere to the principles of sustainable growth in all our operations; simultaneously aspiring to deliver top-quartile returns while making a genuine difference in the community. Our recognition on the DJSI for six successive years supports our belief that these principles are working, but our aspirations are large and what is left to be done is significant."
Getting listed on the DJSI is a rigorous process based on a thorough assessment of general and industry-specific criteria. Entergy's continued commitment to environmental and societal programs played significant roles in meeting these criteria.
EPA Announces 2007 Climate Protection Awards
May 1, 2007
The U.S. Environmental Protection Agency Announces their 2007 Climate Protection Award Winners
The U.S. Environmental Protection Agency today recognized Entergy and 30 other individuals, organizations and companies from around the world for outstanding efforts to protect the Earth's climate and stratospheric ozone layer.
The 31 recipients, who also include world customs inspectors, skin cancer prevention experts, an international bank, a reverend, and director and actor Robert Redford, were honored by the EPA for demonstrating “ingenuity, leadership and public purpose by improving their environmental performance and encouraging others to do the same.”
Entergy 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, and it is the second-largest nuclear generator in the United States.
Entergy was the first utility in the nation to commit publicly to reducing its greenhouse gas emissions and has led the utility sector since. For example, Entergy established an internal Environmental Initiatives Fund, in which to date it has invested nearly $15 million to complete 61 internal reduction projects that will achieve 6.2 million tons of CO2 emission reductions by 2010. Entergy joined the U.S. EPA Climate Leaders program in 2004. At that time, Entergy had already been working with the NGO Environmental Defense on its climate strategy and had committed to stabilize its greenhouse gas emissions at 2000 levels through 2005. Entergy has also purchased over 500,000 tons of carbon emission reduction credits generated from landfill methane and coal mine methane recovery projects.
Entergy has actively promoted its efforts on climate change through reporting to the Carbon Disclosure Project and involvement in the Clean Energy Group, Environmental Defense, and the Pew Center Business Environment Leadership Council. In 2006, Entergy was named to the Dow Jones Sustainability Index for the fifth consecutive year. Entergy was the only company in the U.S. electricity sector in 2006 to be named to the Dow Jones Sustainability Index—World.
By 2005, Entergy had reduced its GHG emissions by approximately 20% from 2000 levels and in 2006 the company set a new goal of stabilizing its GHG emissions at 20% below 2000 levels through 2010. The company is accomplishing this goal by implementing projects to reduce electric transmission line losses, manage and or replace SF6 equipment, modernize its fossil fleet with a greater share of Combined Cycle Gas Turbines, and new offset projects.
“I'm proud that our employees are making Entergy a leader in the national conversation about climate change, one of the defining issues of our time. This EPA award highlights the importance of preparation and planning so we are not faced with either/or decisions because we have allowed the time to run out, not because we lack the means or creativity to accomplish both. Great companies find a way to reach their financial goals without borrowing against the future. Nowhere is that more important than the sustainability of our climate and the rights of future generations who cannot speak for themselves today.”
J. Wayne Leonard
Chairman and Chief Executive Office
EPA Announces 2007 Climate Protection Awards
May 1, 2007
(PDF, 14k)
Entergy and Consumers Closing Announcement
April 11, 2007
Entergy and Consumers Energy Announce Closing of Palisades Nuclear Energy Plant Transaction
New York, NY--Entergy Corporation (NYSE: ETR) and Consumers Energy, the principal subsidiary of CMS Energy (NYSE: CMS), announced today the completion of the previously announced purchase by Entergy of the 798-megawatt Palisades Nuclear Plant, near South Haven, Michigan for $380 million.
As part of the purchase, Entergy will sell 100 percent of the plant’s output, up to its current 798 megawatts, back to Consumers Energy for 15 years at a price that retains the benefits of the low-cost nuclear generation for Consumers Energy’s 1.8 million electric customers.
Said Entergy Nuclear President and Chief Nuclear Officer Michael R. Kansler, “Entergy Nuclear has a strong track record of generating safe, clean, reliable, and low-cost energy across the Southern and Northeastern United States. Now that Palisades is part of Entergy’s nuclear fleet, we look forward to bringing our track record to Michigan and continuing Entergy’s strong tradition as a good employer and community partner that our customers, local communities and employees expect and deserve.”
The transfer in ownership was reviewed by the Nuclear Regulatory Commission (NRC), the Michigan Public Service Commission (MPSC), U.S. Department of Justice (USDOJ), the Federal Trade Commission (FTC), and the Federal Energy Regulatory Commission (FERC).
David Joos, CMS Energy's president and chief executive officer, said Consumers Energy's 1.8 million customers will benefit from the sale and the 15-year contract for the plant's electrical output.
"Palisades will continue to provide the benefits of low-cost nuclear generation to Consumers Energy's customers. Plus, net proceeds from the sale will be used to provide $255 million in bill credits to customers over the next 18 months, as ordered by the Michigan Public Service Commission. Together, this sale and power contract provide significant benefits to customers. Entergy is one of the premier operators of nuclear energy plants in the country and able to continue the long tradition of safe, reliable and economic production from the Palisades plant," said Joos.
The transaction includes the transfer of the Big Rock Point Independent Spent Fuel Storage Installation to Entergy.
With the addition of Palisades, Entergy – the nation's second largest nuclear power company – owns and manages 11 nuclear generating power plants and manages a 12th for the State of Nebraska. On January 18, Palisades was granted a 20-year renewal of its operating license by the Nuclear Regulatory Commission. Its current operating license now expires in 2031.
About Entergy Corporation
Entergy Corporation, headquartered in New Orleans, La., 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. Entergy Nuclear, its nuclear businesses headquartered in Jackson, Miss., is the second-largest nuclear power operator in the United States and the largest in the Northeast. Entergy delivers electricity to 2.6 million utility customers in Arkansas, Louisiana, Mississippi and Texas. Entergy has annual revenues of more than $10 billion and approximately 14,000 employees. Additional information regarding the transaction is available in Entergy’s investor release dated July 12, 2006, on Entergy’s investor relations website at http://www.shareholder.com/entergy/publications.cfm. For more information, please visit www.entergy-nuclear.com.
About CMS Energy
CMS Energy is a Michigan-based company that has as its primary business operations an electric and natural gas utility, natural gas pipeline systems, and independent power generation. For more information, please visit www.consumersenergy.com.
Entergy and Consumers Closing Announcement
April 11, 2007
(PDF, 43k)
NRC Renews Operating License for Palisades Nuclear Power Plant for an Additional 20 Years
January 17, 2007
The Nuclear Regulatory Commission has renewed the operating license of the Palisades Nuclear Plant for an additional 20 years.
The Palisades plant is located 5 miles south of South Haven, Mich. The licensee, Nuclear Management Co., submitted its license renewal application March 22, 2005. With the renewal, the license is extended until March 24, 2031.
The NRC’s environmental review for this license renewal is described in a site-specific supplement to the NRC’s “Generic Environmental Impact Statement for License Renewal of Nuclear Power Plants” (NUREG-1437, Supplement 27), issued last October. The review concluded there were no environmental impacts that would preclude renewal of the license for environmental reasons. Public meetings to discuss the environmental review were held near the plant July 28, 2005, and April 5, 2006.
After carefully reviewing the plant’s safety systems and specifications, the staff concluded that there were no safety concerns that would preclude license renewal, because the licensee had demonstrated the capability to manage the effects of plant aging. The “Safety Evaluation Report Related to the License Renewal of the Palisades Nuclear Plant” was published last September. In addition, NRC conducted inspections of the plant to verify information submitted by the licensee.
On Nov. 17, the Advisory Committee on Reactor Safeguards - an independent body of technical experts which advises the Commission - issued its recommendation that the operating license for Palisades be renewed. That recommendation is contained in “Report on the Safety Aspects of the License Renewal Application for the Palisades Nuclear Power Plant.”
The Palisades renewal brings the total number of operating license renewals to 48 reactor units.
