The bankruptcy path is many lies long, Oh the doo dah day.”
It’s 6 A.M. and this owl must return to it’s lair before the dawning of the day. (Morning sun hits my skin and it talks a gallon of moisterizer to recover myself.)
I saw this pop up on NOLA, and I saw that Entergy, or the Entemy has over billed it’s customers for $88M that they can’t charge for. There’s also the $77M that the company received post-Flood that was claimed improperly or not at all. More from this segment:
“ The storm, however, gave the company some benefits that aren’t accounted for in the rate filing, according to Legend.
In its rate filings, Entergy New Orleans does not account for a $71 million federal tax refund that the company received as a result of the Gulf Opportunity Zone Legislation. The company also doesn’t properly give credit for deferred income taxes that it didn’t have to pay because of storm damage to its system.
Other disputed charges include more than $3.5 million for the company’s incentive plan and $2.6 million in stock options. The report also says that the rate filing includes an expense related to personal financial consulting services provided to Entergy New Orleans president Dan Packer.
“Ratepayers should not be responsible for compensating corporate executives at such a precarious time and should be borne by ENO’s (and Entergy’s) shareholders,†the Legend report states.
Legend also says that Entergy New Orleans is charging customers for its bankruptcy costs, costs that shouldn’t be passed on until the bankruptcy is resolved.
The advisers also question whether Entergy New Orleans has property credited the sale of New Orleans’ share of Grand Gulf nuclear power to customers. “
Someone pick this up please, or I’ll be ranting all tomorrow night. You’ve been warned. *giggles* (Oh Goodness! She’s manic now.)
Wow – I can’t imagine dealing with nightmare entemies (love that) on a normal day. Much less under the circumstances of the past year.
Comment by saintseester — October 2, 2006 @ 10:19 am