?NOTICE
NOTICE is hereby given, pursuant to article IV, section 21 (D) (1) of the Louisiana Constitution, that on June 20, 2022, Entergy Louisiana, LLC (“ELL”) an electric public utility providing retail electric service to customers in fifty-eight Parishes of the State of Louisiana, filed with the Louisiana Public Service Commission (“LPSC” or the “Commission”) in LPSC Docket No. U-36350, First and Second Supplemental Applications requesting a Financing Order, a new Rider Financed Storm Cost V (“FSC V”) rider schedule, and a new Rider Storm Cost Offset V (“SCO V”) rider schedule, to implement various rate changes for recovery in rates of costs related to Hurricane Ida and Hurricanes Laura, Delta, and Zeta and Winter Storm Uri pursuant to Act No. 55 of the Louisiana Regular Session of 2007 (“Act 55”), as supplemented by Act No. 293 of the Louisiana Legislature’s Regular Session of 2021 (together the” Restoration Law”).
In order to pursue financing authorized by the Restoration Law, ELL and the Louisiana Utilities Restoration Corporation (“LURC” or “Corporation”) have requested that the Commission approve and authorize the Corporation to finance, through the issuance of system restoration bonds, ELL’s system restoration costs associated with Hurricane Ida and Hurricanes Laura, Delta, and Zeta, and Winter Storm Uri and related relief under the Restoration Law. The Corporation and ELL have requested Commission authorization for the issuance of system restoration bonds in one or more series in an aggregate principal amount equal to the sum of $1.658 billion of net system restoration costs, which includes carrying costs and unamortized debt costs on interim financing, and issuance costs.
To finance these costs, ELL proposes to implement Rider FSC V Rates, on behalf of LURC, effective by billing on the first day of the first billing cycle of the next revenue month following the issuance date of the system restoration bonds. Assuming system restoration bond issuance on December 19, 2022, Rider FSC V Rates will be implemented with the first billing cycle of January 2023. The Rider FSC V Rates, as periodically adjusted, will continue in effect until all system restoration bonds shall have been paid in full and all financing costs of the system restoration bonds shall have been recovered in full. ELL requests Commission determination that the calculation of the Rider FSC V Rates will apply to all rate classes, including any Special Contracted Rate customers and will be non-bypassable, which means that, with limited exception, all existing and future LPSC-jurisdictional ELL customers will be responsible for these charges.
Other adjustments required to compensate for certain costs or benefits relating to elements other than those relating to the financing transaction, including accumulated deferred income taxes and other savings pursuant to Restoration Law Financing, are proposed to be reflected in the Rider SCO V.
If the Commission were to issue a financing order for the full amount requested by ELL and were it to adopt the rate design reflected in Riders FSCIV and SCOIV (pertaining to Hurricanes Laura, Delta, and Zeta and Winter Storm Uri): (1) the system restoration charge, billed on behalf of the LURC, on the monthly electric bill through Rider FSC V for one of ELL’s LPSC-jurisdictional residential customers using 1,000 kWh is estimated at $5.37 per month; (2) the first year’s Rider SCOV imposed on the monthly electric bill of one of its LPSC-jurisdictional residential customers through proposed Rider SCOV using 1,000 kWh is estimated to be a credit of $0.14 per month; and (3) the net effect of Rider FSCV and Rider SCOV on a residential customer using 1,000 kWh is estimated to be $5.23 per month, which equates to an increase of 4.3%.
The public version of the Company’s filing, including its attachments, may be viewed in the Records Division of the LPSC at the following address:
Records Division
602 N. 5th Street, 12th Floor
Baton Rouge, Louisiana 70802
Telephone: (225) 342-3157
Entergy Louisiana, LLC
RUN: June 30 (Ju 41)