ENTERGY
Entergy Corporation
Fact Sheet
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Entergy Corporation (NYSE:ETR) is a leading energy company, with the
third-largest electric generating capacity of any U.S. company. Entergy owns,
managers, or invests in nearly 30,000 megawatts of electric generation
domestically and internationally. Entergy also ranks among the nation's largest
utility companies, serving 2.5 million retail electric customers through five
regulated subsidiaries in Arkansas, Louisiana, Mississippi and Texas. The
company employs approximately 12,000 people. Annual revenues in 1999 were $8.8
billion.
In 1998, Entergy refocused on its core strengths and renewed its commitment to
its stakeholders: investors, customers, regulators, and employees. Entergy's
refocused strategy targeted superior performance in utility operations and new
growth in core competencies: power development and nuclear power operations.
This refocus led to the divestiture of non-core businesses, primarily
international electric distribution operations. The $4.6 billion divestiture
program contributed to a dramatic improvement in Entergy's financial integrity.
Entergy operates five nuclear plants in its regulated service territory with a
combined capability of 4,785 megawatts. These plants rank in the top quartile of
the U.S. nuclear industry based on operating and safety performance. Through
Entergy Nuclear, Entergy has expanded into New England by purchasing a sixth
plant, the 670-megawatt Pilgrim Nuclear Power Station in Massachusetts. In
addition, the company's purchase of the New York Power Authority's Indian Point
3 and FitzPatrick nuclear plants is expected to close this year, pending
approvals by the Nuclear Regulatory Commission and other regulatory agencies.
Entergy also manages decommissioning activities at two other plants, Maine
Yankee and Millstone Unit 1. Entergy expects to purchase and operate five to
eight additional nuclear plants through 2005, more than doubling the nuclear
capacity to more than 10,000 megawatts.
Entergy Wholesale Operations, Entergy's independent power production subsidiary,
currently owns, manages, or invests in generation projects and merchant power
plants, with 3,000 net megawatts of generation now in operation or construction.
Beginning in 2000, the company's goal is to add more than 1,500 megawatts per
year to its portfolio. Entergy has allocated $3.9 billion of capital investment
over the next five years to fund projects and opportunities that meet or exceed
risk and return hurdles. In 1999, the company signed multi-year agreements with
General Electric to supply 32 gas turbines and four steam turbines, which will
provide a competitive advantage in a tight turbine market. Entergy expects
projects in its home region over the next five years to use more than half of
these turbines.
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In April 2000, Entergy and privately held Koch Industries, one of the nation's
most successful energy traders, formed a company to engage in the marketing and
trading of power, natural gas, and other energy-related commodities. The venture
will be one of the leading energy companies in North America. It will also
include the 10,000-mile Koch Gateway natural gas pipeline system. Entergy also
is joining forces with The Shaw Group to create a new company that will provide
management, engineering, procurement, construction and commissioning services to
build electric power plants.
Since 1996, Entergy has worked for a competition plan that benefits all
customers and preserves the reliability of the electrical system. Two of the
states it serves, Arkansas and Texas, have passed legislation to open their
electricity markets to competition as early as January 1, 2002.
Entergy Affiliates
Entergy Arkansas, Entergy Gulf States, Entergy Louisiana, Entergy Mississippi,
Entergy New Orleans - utilities serving 2.5 million retail electric utility
customers
Entergy Nuclear - executes Entergy's strategy to build a premier national
nuclear company by acquiring, operating and providing services to nuclear plants
in the United States
Entergy Wholesale Operations - owns, manages, or invests in generation projects
and merchant power plants focusing on North America and Europe.
Entergy-Koch L.P. (a pending venture with Koch Industries) - will deliver,
market and trade power, natural gas and other energy-related commodities,
including weather derivatives
Entergy and the Environment
As one of the largest producers of electric power in the U.S., Entergy
recognizes the leadership role incumbent on a company of its stature and
resources. The company is an advocate of public policy that will preserve and
enhance the environment.
Entergy is one of the cleanest utilities in the country. The company's
commitment to the environment is demonstrated in the investments the company has
made in nuclear and gas-fired generation. In 1999, Entergy reaffirmed that
commitment through the purchase of combined-cycle gas turbines, with
state-of-the-art environmental technology. Entergy has also reduced greenhouse
emissions by more than 21 million tons over the last nine years.
In 1999, the company established an Environmental Stewardship Program to award
grants to environmental projects, nominated by Entergy employees, around our
region.
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Financial Highlights
FINANCIAL RESULTS 1999 1998
(in millions, except per share amounts)
Operating Revenues $8,773 $11,495
Operating Income $1,252 $1,512
Net Income $552 $739
Earnings Per Share $2.25 $3.00
Cash Flows From Operating Activities $1,307 $1,753
Total Assets $22,985 $22,837
COMMON STOCK DATA
Average Shares Outstanding 245.1 246.4
Dividends Per Share $1.20 $1.50
OPERATING DATA
Retail Energy Sales (millions kWh) 100,519 100,224
Customers (thousands) 2,522 2,495
Residential 30% 31%
Commercial 24% 23%
Industrial 43% 43%
Other 3% 3%
Employees 12,214 12,697
Entergy Executive Team
o Robert v.d. Luft, Chairman
o J. Wayne Leonard, Chief Executive Officer
o Donald C. Hintz, President
o C. John Wilder, Chief Financial Officer
o Jerry Jackson, Executive Vice President
o Horace Webb, Senior Vice President - External Affairs
Entergy Corporation
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Corporate Offices Renae Conley
639 Loyola Avenue Vice President, Investor Relations
P.O. Box 61000 Phone: (504) 576-4947
New Orleans, LA 70161 Fax: (504) 576-2897
Phone: (504) 576-4000 email: [email protected]
www.entergy.com Media Relations
Phone: (504) 576-2890
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