The state Public Service Commission today said fie on Entergy and its requested $106 million, or 11.7 percent rate increase. The PSC instead ordered a reduction in rates of $5.6 million effective June 15. I presume the power company will appeal.
The PSC reduced the amount Entergy had sought for executive bonuses and incentive pay by 21 percent and wouldn't allow the company to charge rateapyers for tickets to sporting events, golf tourneys and to wine and dine politicians. Heh.
The PSC said it would continue to fight federal regulatory orders on payments by Entergy to affiliated companies in other states.
Attorney General Dustin McDaniel said: “While we have not yet had the opportunity to review the order of the commission, we do know that it is a victory for the ratepayers of Arkansas. Specifically, not only did the commission deny Entergy’s request to increase rates by $100,000,000, it reduced current rates by $5,500,000. We are very pleased given that a decrease is exactly what I requested from the commission in presenting the case of the ratepayers."
Sounds just like old days, when the PSC was a prime playground for aspiring politicians.
McDaniel thanked his staff. He should have given more thanks to Paul Suskie, the PSC chairman, beaten by McDaniel in the race for attorney general. I think we're going to like the PSC under Suskie's leadership.