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 arenâ€™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 doesnâ€™t properly give credit for deferred income taxes that it didnâ€™t have to pay because of storm damage to its system.
Other disputed charges include more than $3.5 million for the companyâ€™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.
â€œRatepayers should not be responsible for compensating corporate executives at such a precarious time and should be borne by ENOâ€™s (and Entergyâ€™s) shareholders,â€ the Legend report states.
Legend also says that Entergy New Orleans is charging customers for its bankruptcy costs, costs that shouldnâ€™t be passed on until the bankruptcy is resolved.
The advisers also question whether Entergy New Orleans has property credited the sale of New Orleansâ€™ 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.)