Energy Bills Could Go Higher; Entergy’s Nuclear Plant Offline
As the summer temperatures soar, so do our energy bills.
This is a normal occurrence, and it has been happening, I suppose, since we started paying for electricity (while having air conditioning, of course).
But lately, energy bills have been extremely high thanks in part to recent storms, higher oil prices, AND the high temperatures we've been experiencing.
Hold on to your pocketbooks, though, as prices are about to go higher.
According to the story from NOLA, Entergy's nuclear power station in Mississippi is offline again and has been so for over 3 weeks.
What does that mean? It means that Entergy will have to use electricity that is generated by other means, i.e., natural gas.
And we all know how expensive anything that has the word "gas" in it has been in recent times. According to the story, natural gas has more than doubled in price in just one year.
The story by NOLA mentions that Entergy has been facing allegations of mismanagement at its Grand Gulf nuclear power plant (it's in Port Gibson, Mississippi) and has actually been fined for those allegations.
What are the allegations? Well, according to the story: mismanagement and "problematic" bookkeeping. And what are the fines for those allegations? $235 million, according to Entergy.
Entergy hasn't paid that fine yet. "Why?", you ask.
Well, it's because the organizations to whom the fine is to be paid aren't satisfied with that amount.
NOLA says that the New Orleans City Council and the Louisiana Public Service Commission have both rejected the offer.
Experts are expecting that, after litigation, Entergy will be owing more than what it offered in its settlement with the plaintiffs, who include the aforementioned New Orleans City Council, the Louisiana Public Service Commission, and the Arkansas Public Service Commission. It has already settled with Mississippi.
Here's my question: if Entergy is having to pay all of these millions of dollars to these various commissions, where does the money go?
I would hope that money goes to helping people pay these outrageous energy bills.
What are your thoughts?