Monday, May 27, 2024

Entergy CEO Outlines Ambitious Plans for Stakeholder Improvement at Annual Meeting

by BIZ Magazine

NEW ORLEANS, May 3, 2024 /PRNewswire/ — Entergy’s Chair and Chief Executive Officer, Drew Marsh, articulated a bold vision for enhancing stakeholder outcomes during the company’s 75th annual meeting of shareholders held today.

Marsh emphasized Entergy’s commitment to supporting customer growth, meeting cleaner energy expectations, enhancing reliability and resilience, and ensuring affordability for its customers.

“As we look ahead, we see unprecedented growth potential for our company and our region, driven by factors such as strong industrial sales,” said Marsh. “This growth is propelled by significant industrial manufacturing investments along the Gulf Coast area, positioning our region as an attractive investment destination.”

Addressing customers’ aspirations for carbon reduction, Marsh stated, “We are focused on harnessing this tremendous growth opportunity for the benefit of all our customers. We’re addressing our customers’ increasing reliability and resilience needs, all while ensuring bill affordability. Together, we’re shaping the growth trajectory for the Entergy of tomorrow.”

Entergy’s capital plan encompasses investments across generation, transmission, and distribution to meet customer expectations and achieve stakeholder objectives.

Marsh highlighted several accomplishments for the business in 2023:

  • Operational Excellence: Entergy’s generation fleet delivered outstanding performance, achieving its best forced outage rate since 2011 despite challenges from record-breaking heat. The company not only met customers’ demands but also exported power to other utilities during peak periods.
  • Customer Growth: Entergy experienced robust customer growth, signing 61 new electric service agreements representing over 1.3 gigawatts of generation capacity. The company continued to invest in renewable energy and clean technology solutions, with over 900 megawatts in service and approximately 2,100 megawatts of renewable energy projects approved or under construction.
  • Economic Development: Entergy Mississippi secured a pivotal role in supporting Amazon Web Services’ (AWS) $10 billion investment in Mississippi, the largest capital investment in the state’s history. This investment is expected to generate new jobs and economic development opportunities.

Marsh also highlighted the company’s focus on resilience investments, citing recent milestones such as approval for infrastructure upgrades in New Orleans East and Louisiana’s approval of $1.9 billion investment in resilience projects statewide.

At the shareholder meeting, all 11 nominees to the company’s board of directors were elected, and two management proposals related to the appointment of independent public accountants and executive compensation were approved.

Marsh addressed shareholder inquiries on various topics, including grid resilience efforts and artificial intelligence. A replay of the meeting and responses to questions will be available on Entergy’s Investor Relations website next week.

About Entergy
Entergy (NYSE: ETR) powers life for 3 million customers across Arkansas, Louisiana, Mississippi, and Texas. The company is committed to enhancing the reliability and resilience of the energy system while facilitating the transition to cleaner, more efficient energy solutions. With over a century of community roots, Entergy is recognized as a national leader in sustainability and corporate citizenship. Learn more at entergy.com and connect with @Entergy on social media. #WePowerLife

Cautionary Note Regarding Forward-Looking Statements:
In this news release, Entergy Corporation makes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially. For more information, refer to Entergy’s most recent Annual Report on Form 10-K and other filings under the Securities Exchange Act of 1934.

You may also like

-
00:00
00:00
Update Required Flash plugin
-
00:00
00:00