Entergy Mississippi to drop rates by nearly $10 for average residential customers this summer

Beginning in June, Entergy Mississippi intends to drop its electric rates by an average of $9.71 for its residential customers, keeping costs under $100 per month through September.

This will put the company’s rates 25 percent below the national average during some of the hottest — and highest energy use — months of the year. Entergy largely credits an over-recovery of fuel costs for the adjustment, meaning it collected more than it spent last year, resulting in a refund.

“With the economic hit Mississippians have taken from the COVID-19 fall-out, this is welcome news for our customers,” Haley Fisackerly, Entergy Mississippi president and CEO, said. “We know residential energy use is up due to many people being home when they ordinarily wouldn’t be, so this reduction should help offset that.”

Other factors in the reduction include low natural gas prices, more efficient, low-cost natural gas power plants, upgrades in the Grand Gulf Nuclear Station resulting in 13 percent more low-cost nuclear power, Entergy Mississippi’s induction into the Midcontinent Independent System Operator (MISO) and efficiency efforts among company operations. Today, the company serves approximately 450,000 customers.

“Low rates help our state attract large employers to Mississippi,” Fisackerly added. “We’ll need that as we work to rebuild our state’s economy.”