Friday, January 14, 2011

Presley says Entergy customers should quickly receive millions in refunds per judge's order

Commission Chairman Brandon Presley announced that a recent decision by a Federal Energy Regulatory Commission (FERC) judge should quickly translate into millions of dollars in refunds to customers of corporate utility Entergy Mississippi.

Presiding Administrative Law Judge Jon P. Dring of FERC on December 9th found that Entergy had violated its System Agreement and had sold lowest cost power to third parties for corporate profits rather than to its ratepayers, as required. Judge Dring's order says that the shareholders of Entergy should be required to refund the amount of overcharges plus interest for the transactions in question from 2000 to 2009.

“Having this order in hand, Entergy should immediately take steps to make these refunds and not put shareholders interest above the public interest by trying to delay this process.” Presley said. Presley says those refunds should be sent directly from Entergy Mississippi to their customers by check. “Entergy
Mississippi needs to be prepared to write checks back to their customers who have been overcharged. This should not show up as a credit, there should be a check in the mail.”

Presley said that obvious reforms are needed to protect against future corporate violations and that he plans to work to get those protections in place quickly.

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