Entergy raising rates to recoup Rita repair money
Published 6:45 pm Tuesday, June 26, 2007
BEAUMONT — Members of the Public Utility Commission of Texas gave final approval Tuesday to Entergy Texas’ plans to recover costs associated with restoring power after Hurricane Rita.
Beginning in July, the average customer using 1,000 kilowatt-hours of electricity per month will see their bills increase by $3.96 per month. The charge goes into place one year after Entergy Texas finalized its cost analysis and filed a request with the PUCT to recover funds through a process known as “securitization.”
Securitization involves issuing bonds and decreases the amount customers will pay by about a third because it provides for lower interest rates. Recovery charges will remain on customer bills for 15 years and will provide $329.5 million to the utility for its massive restoration effort.