Form 8-K Page 3
December 21, 1998
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date earliest event reported) August 11, 2000
Commission Registrant, State of Incorporation, I.R.S.
File Number Address and Telephone Number Employer
Identification
No.
1-11299 ENTERGY CORPORATION 72-1229752
(a Delaware corporation)
639 Loyola Avenue
New Orleans, Louisiana 70113
Telephone (504) 529-5262
1-8474 ENTERGY LOUISIANA, INC. 72-0245590
(a Louisiana corporation)
4809 Jefferson Highway
Jefferson, Louisiana 70121
Telephone (504) 840-2734
Item 5. Other Events
Reference is made to the Annual Reports on Form 10-K for the year
ended December 31, 1999, and the Quarterly Reports on Form 10-Q for the
quarter ended June 30, 2000, for Entergy Corporation ("Entergy") and
Entergy Louisiana, Inc. ("Entergy Louisiana"), and Amendment No. 1 to
Entergy's Quarterly Report on Form 10-Q/A for the quarter ended June 30,
2000, for discussion of the complaint filed in June 1998 against Entergy,
Entergy Power, Inc. and Entergy Louisiana in state court in Orleans Parish
purportedly on behalf of all Entergy Louisiana ratepayers that seeks treble
damages for alleged injuries arising from alleged violations by the
defendants of Louisiana's antitrust laws in connection with the costs
included in fuel filings with the LPSC and passed through to ratepayers;
and for discussion of the plaintiffs' request that the LPSC initiate a
review of Entergy Louisiana's monthly fuel adjustment charge filings and
force restitution to ratepayers of all costs that the plaintiffs allege
were improperly included in those fuel adjustment filings.
Entergy Louisiana and the staff of the LPSC have reached an agreement
in principle for the settlement of the matter before the LPSC. The terms
of the proposed settlement have not as yet been agreed to by other parties
to the LPSC proceeding, and must be approved by the LPSC after any parties
contesting the settlement are afforded the opportunity for a hearing.
Entergy Louisiana would agree under the proposed settlement terms to refund
to customers approximately $72 million to resolve all claims arising out of
or relating to Entergy Louisiana's fuel adjustment clause filings from
January 1, 1975 through December 31, 1999, except with respect to purchased
power and associated costs included in the fuel adjustment clause filings
for the period May 1 through September 30, 1999. Reserves were previously
provided by Entergy Louisiana for the refund. If the proposed settlement
is approved, Entergy Louisiana would also consent to future fuel cost
recovery under a long-term gas contract based on a formula that would
likely result in an under-recovery of actual costs under that contract for
the remainder of its term, which runs through 2013. The future under-
recovery cannot be precisely estimated at this time because it will depend
upon factors that are not certain, such as the price of gas and the amount
of gas purchased under the long-term contract. In recent years, Entergy
Louisiana has made purchases under that contract totaling from $91 million
to $121 million annually. Had the proposed settlement terms been
applicable to such purchases, the under-recoveries would have ranged from
$4 million to $9 million per year. Hearings on all issues in this
proceeding currently are scheduled for September 2000. In a pleading filed
August 11, 2000, plaintiffs requested a five month delay in the
commencement of the hearings. This request has been argued by the parties
and submitted to the ALJ in the case.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
ENTERGY CORPORATION
By: /s/Michael Thompson
Michael Thompson
Senior Vice President and
General Counsel
Dated: August 18, 2000
