Turning On the Juice in the Big Easy
NEW ORLEANS, LOUISIANA - Creditors of Entergy New Orleans approved a bankruptcy reorganization plan, according to the Associated Press, which cited an attorney for the electricity and natural gas utility.
Parent company Entergy is not covered by the bankruptcy filing.
Entergy New Orleans filed for bankruptcy protection in October 2005, after its grid was destroyed by Hurricane Katrina and it was left with few paying customers for months, the wire service noted.
The AP also reported that U.S. Bankruptcy Judge Jerry Brown approved payments of up to $200 million in federal storm recovery funds and at least $50 million in insurance payments from AIG. The wire service added that immediate storm-relief payments will total some $171 million.
According to the report, Entergy New Orleans expects to spend $465 million to rebuild its natural gas system to pre-Katrina standards.
Related News
CAA Quebec Shines at the Quebec Electric Vehicle Show
MONTREAL - The Quebec Electric Vehicle Show has emerged as a significant event for the automotive industry, drawing attention from enthusiasts, industry experts, and consumers alike. This year, CAA Quebec took center stage, showcasing its commitment to promoting electric vehicles (EVs) and sustainable transportation solutions.
A Strong Commitment to Electric Mobility
CAA Quebec’s participation in the show underscores its dedication to facilitating the transition to electric mobility. With the rising concerns over climate change and the increasing popularity of electric vehicles, organizations like CAA are pivotal in educating the public about the benefits and practicality of EV ownership. At the…
