Printer Friendly

AEEC wants entergy to refund money. (Energy).

The Arkansas Electric Energy Consumers last week filed a motion asking the state's Public Service Commission to abandon its proposed settlement with Entergy Arkansas and the Arkansas Attorney General's office and refund about $146 million to ratepayers.

On March 8, Entergy said it had reached a proposed settlement with the PSC and the attorney general whereby ratepayers will not see "any immediate rate change" due to the ice storms in December 2000.

Entergy faces $159 million in costs related to the storms.

If approved, the settlement would leave base. rates at their current level more than a year, and Entergy would not pass along to ratepayers the cost of the 2000 ice storm. Instead, Entergy would- pay for the storm with $146 million it has in a special account.

But the AEEC said money from the account, called the Transition Cost Account, was meant either to pay unrecoverable costs Entergy would incur after electric deregulation or be refunded to ratepayers.

"The money which Entergy, the [PSC] staff, and the attorney general want to spend belongs to Arkansas ratepayers," Glen Hoggard, AEEC attorney, said in a news release. "Those dollars were paid by Arkansas ratepayers into a special account for a specific purpose. The PSC order says that if the money is not used for its intended purpose, the money should be given back to ratepayers."

James Thompson, spokesman for Entergy Arkansas, said Entergy still supports the proposed settlement, calling it a "fair" and "logical" solution that is "beneficial to customers."

A hearing on the proposal is scheduled for April 11.

Hoggard said residential ratepayers will bear the brunt of the cost.

"Residential customers are hurt the most. If this proposal is accepted as it currently stands, residential customers are giving up their $68 million refund, and they will still owe another $12 million dollars at the end of the day," he said.

The AEEC is a nonprofit corporation whose members are some of the largest industrial and agricultural users of electricity on the Entergy system.
COPYRIGHT 2002 Journal Publishing, Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2002 Gale, Cengage Learning. All rights reserved.

 
Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:Arkansas Electric Energy Consumers
Comment:AEEC wants entergy to refund money. (Energy).(Arkansas Electric Energy Consumers)
Publication:Arkansas Business
Article Type:Brief Article
Geographic Code:1USA
Date:Apr 1, 2002
Words:335
Previous Article:Murphy Oil execs receive big bonuses. (Energy).
Next Article:Garrison gives $1m for Walton College Chair. (Awards).
Topics:


Related Articles
Electric deregulation sets up battle lines.
Entergy's future uncertain with new strategy, personnel: utility hopes to improve earnings with changes.
Gas Companies Enjoyed Huge Revenue Growth in 2000. (Arkansas Business List Overview).
Electric deregulation stalls, maybe forever.
Entergy Arkansas bills reduced to 1986 levels. (Inside business).
Arkansans paying less for electricity. (Energy).
Ghost of Grand Gulf reappears.
Grand Gulf II.
Who will foot bill for Katrina? Arkansans' share of Entergy's Hurricane costs should be limited.
Ozarks Electric customers to get $1.7 million refund.

Terms of use | Privacy policy | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters