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) October 19, 2000
Commission Registrant, State of Incorporation, I.R.S. Employer
File Number Address and Telephone Number Identification No.
1-11299 ENTERGY CORPORATION 13-5550175
(a Delaware corporation)
639 Loyola Avenue
New Orleans, Louisiana 70113
Telephone (504) 576-4000
1-8474 ENTERGY LOUISIANA, INC. 72-0245590
(a Louisiana corporation)
4809 Jefferson Highway
Jefferson, Louisiana 70121
Telephone (504) 840-2734
Form 8-K
Item 5. Other Events
Entergy Corporation and Entergy Louisiana
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 has reached an agreement in principle with the
LPSC staff for the settlement of the matter before the LPSC and has
executed a definitive agreement with the plaintiffs for the settlement
of the matter before the LPSC and the state court. The terms of the
settlement agreement have not as yet been agreed to by intervenors to
the LPSC proceeding, and must be approved by the LPSC and the state
court. Under the terms of the settlement agreements, Entergy Louisiana
would agree 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. A
fairness hearing on the settlement agreements currently is scheduled
before the ALJ on November 8 and 9, 2000. Following the hearing, the
ALJ will make a recommendation to the LPSC and the LPSC will consider
the matter at its meeting scheduled for December 2000. Within ten days
of the LPSC's approval of the settlement, plaintiffs will seek class
certification and approval of the settlement by the state court.
Entergy Corporation
On October 19, 2000, Entergy Corporation ("Entergy") issued two
public announcements, which are attached as exhibits hereto and
incorporated herein by reference.
Item 7. Financial Statements, Pro Forma Financial Statements and
Exhibits
(c) Exhibits.
Exhibit Description
No.
99.6 Release, dated October 19, 2000, issued
by Entergy.
99.7 Release, dated October 19, 2000, issued
by Entergy.
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/ Nathan E. Langston
Nathan E. Langston
Vice President and
Chief Accounting Officer
Dated: October 19, 2000