Entergy Texas files plan to keep rates low, invest in infrastructure
Entergy Texas is using tax cuts from the federal tax reform plan to keep rates down as it invests in new infrastructure.
The company, which serves 450,000 customers in Southeast Texas, will flow back more than $200 million to customers over the next two years. This amount represents funds that Entergy Texas had collected from customers according to IRS rules to pay future taxes at the higher tax rate that is no longer in effect. Additionally, the company’s new energy rates will reflect the lower tax rate going forward.
“Tax reform provides Entergy Texas an opportunity to continue our investment to improve our service to customers while minimizing the effect to customer bills,” Sallie Rainer, president, and CEO of Entergy Texas, said. “We are committed to creating a bright future where we offer more energy solutions tailored to our customers’ needs. Today’s filing puts the company on the path to deliver that vision for our customers.”
Entergy Texas plan would result in a $2.36 increase per month on the average customer’s bill.
Additionally, Entergy Texas plans to invest about $2 billion over the next three years.
“As southeast Texas grows, Entergy Texas is investing now to power tomorrow with reliable and affordable energy,” Rainer said. “The investments we are making will help minimize disruptions from power outages, and help customers more easily save money on their electric bills and better manage their energy usage.”
Entergy Texas’ planned investments include the construction of the new Montgomery County Power Station as well as three new transmission projects. The company will also replace outdated equipment with new technologies.
