Entergy Reports Fourth Quarter Earnings

Fri Feb 8, 2013 7:00am EST

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NEW ORLEANS,  Feb. 8, 2013  /PRNewswire/ -- Entergy Corporation (NYSE: ETR)
today reported fourth quarter 2012 as-reported earnings of  $296.3 million, or 
$1.66  per share, compared with  $154.1 million, or  87 cents  per share, for
fourth quarter 2011. On an operational basis, Entergy's fourth quarter 2012
earnings were  $307.0 million, or  $1.72  per share, compared with  $167.2
million, or  94 cents  per share, in fourth quarter 2011. For the year,
Entergy's as-reported earnings were  $846.7 million, or  $4.76  per share, and
operational earnings were  $1.1 billion, or  $6.23  per share. These results
compare with 2011 as-reported earnings of  $1.3 billion, or  $7.55  per share,
and operational earnings of  $1.4 billion, or  $7.62  per share.

(Logo:  http://photos.prnewswire.com/prnh/20120913/MM74349LOGO)

 Consolidated Earnings - Reconciliation of GAAP to Non-GAAP Measures          
 Fourth Quarter and Year-to-Date 2012 vs. 2011                                
 (Per share in U.S. $)                                                  
                        Fourth Quarter            Year-to-Date              
                        2012    2011    Change  2012    2011    Change  
 As-Reported Earnings   1.66    0.87    0.79    4.76    7.55    (2.79)  
 Less Special Items     (0.06)  (0.07)  0.01    (1.47)  (0.07)  (1.40)  
 Operational Earnings   1.72    0.94    0.78    6.23    7.62    (1.39)  
 *GAAP refers to United States generally accepted accounting principles.      


Operational Earnings Highlights for FourthQuarter 2012

* Utility earnings were higher due largely to lower income tax expense resulting
from a settlement with the Internal Revenue Service completed at the end of 2012
and higher net revenue.  
* Entergy Wholesale Commodities earnings decreased due primarily to a higher
effective income tax rate, lower net revenue and higher decommissioning expense.
 
* Parent & Other results improved due to a decrease in income tax expense on
Parent & Other activities, partially offset by higher interest expense.

"In 2012, Entergy's management team made significant progress on several key
fronts," said  Leo Denault, Entergy's chairman and chief executive officer.
"Looking ahead to 2013, we will remain focused on safety and operational
excellence in all aspects of our business as well as successful execution of key
initiatives such as our effort to join the Midwest Independent Transmission
System Operator, a regional transmission organization, and our proposal to spin
off and merge the transmission business with ITC Holdings Corp., working every
day to create sustainable value for all of our stakeholders."

Other Business Highlights

* Entergy Arkansas and Entergy Mississippi completed acquisitions of the Hot
Spring and Hinds power plants.  
* Entergy Louisiana successfully completed installation of the  Waterford  3
steam generator replacement project.  
* Edison Electric Institute honored Entergy with Emergency Recovery and
Emergency Assistance awards for restoration efforts to its own customers
following Hurricane Isaac and to other utility company customers following last
June's derecho weather event and Hurricane Sandy. This is the 15th consecutive
year for Entergy to receive an EEI storm restoration award.

A teleconference will be held at  10 a.m. CT  on  Friday, Feb. 8, 2013, to
discuss Entergy's fourth quarter 2012 earnings announcement, and may be accessed
by dialing (719) 457-2080, confirmation code 6847131, no more than 15 minutes
prior to the start of the call. The call and presentation slides can also be
accessed via Entergy's website at  www.entergy.com. A replay of the
teleconference will be available by telephone and on Entergy's website at 
www.entergy.com  as soon as practical after the transcript is filed with the
U.S. Securities and Exchange Commission due to filing requirements associated
with the proposed spin-off and merger of Entergy's transmission business with
ITC. The telephone replay will be available through  Feb. 15, 2013, by dialing
(719) 457-0820, confirmation code 6847131.

In the fourth quarter 2012, Entergy included subsidiaries previously included
and reported in the Parent & Other segment in the Entergy Wholesale Commodities
segment to improve the alignment of certain intercompany items. The prior period
financial information has been restated to reflect this change. A detailed
discussion of the factors driving quarterly and full-year results at each
business segment follows.

Utility

In fourth quarter 2012, Utility earnings were  $279.7 million, or  $1.57  per
share, on an as-reported basis and  $290.5 million, or  $1.63  per share, on an
operational basis, compared to  $169.7 million, or  96 cents  per share, on both
as-reported and operational bases in fourth quarter 2011. The
quarter-over-quarter increase was due largely to lower income tax expense. The
reduction in income tax expense was driven by a settlement with the IRS,
completed at the end of 2012, regarding the tax treatment of the utilities'
decommissioning liabilities.  

Higher net revenue also contributed to the earnings improvement. Fourth quarter
2012 Utility net revenue reflected the net effect of pricing adjustments from
regulatory actions and investments, primarily from placing the Grand Gulf
extended power uprate in service. In addition, net revenue reflected moderate
retail sales growth. Increased sales in the residential segment and commercial
and governmental segment were partially offset by a decline in industrial sales.
The industrial sales decrease was due largely to temporary outages at two large
customers. Both periods had roughly similar negative weather effects.

Residential sales in fourth quarter 2012, on a weather-adjusted basis, increased
2.6 percent compared to fourth quarter 2011. Commercial and governmental sales,
on a weather-adjusted basis, increased 1.0 percent quarter over quarter.
Industrial sales in the fourth quarter decreased 0.6 percent compared to the
same quarter of 2011.  

These items were partially offset by higher depreciation expense due primarily
to investments placed in service since the fourth quarter of last year.

For the year 2012, the Utility earned  $943.0 million, or  $5.30  per share, on
an as-reported basis and  $980.1 million, or  $5.51  per share, on an
operational basis, compared to  $1.1 billion, or  $6.20  per share, on an
as-reported basis and an operational basis in 2011. The year-over-year decrease
was due largely to a higher effective income tax rate. Results in both years
reflected tax agreements with the IRS that resulted in significant decreases in
income tax expense. The income tax expense benefit in 2011 exceeded the benefit
in 2012. A portion of the benefits resulting from the third quarter 2011 and the
second quarter 2012 IRS agreements will be shared with customers in the
applicable jurisdictions. This customer sharing was reflected in regulatory
charges in net revenue in the period the income tax adjustments were recorded.
Increased non-fuel operation and maintenance expense, depreciation expense and
interest expense also contributed to the year-over-year earnings decrease.  

Partially offsetting was net revenue, which was higher than a year ago due to
the previously noted regulatory charges as well as the net effect of rate
adjustments and weather-adjusted sales volume growth. Overall billed retail
sales declined year-over-year as a result of milder-than-normal weather in 2012
compared to the significant effect of weather in 2011.

Entergy Wholesale Commodities

Entergy Wholesale Commodities as-reported and operational earnings were  $58.8
million, or  33 cents  per share, for fourth quarter 2012, compared to  $155.0
million, or  88 cents  per share, for fourth quarter 2011. The decline was
attributable partly to the operational EBITDA (earnings before interest, income
taxes, depreciation and amortization, and interest and investment income
excluding decommissioning expense and special items) drivers noted below. Other
drivers included a higher effective income tax rate and higher decommissioning
expense. The higher decommissioning expense was due to the benefit from an
adjustment to the decommissioning liability recorded in the fourth quarter of
2011.

For the year, EWC earnings were  $40.4 million, or  23 cents  per share, on an
as-reported basis and  $263.9 million, or  $1.49  per share, on an operational
basis, compared to as-reported and operational earnings of  $488.6 million, or 
$2.74  per share, in 2011. In addition to the operational adjusted EBITDA
drivers noted below, an asset impairment of the Vermont Yankee nuclear power
plant recorded in the first quarter of the current year contributed to the
as-reported decrease. Other drivers include a higher effective income tax rate,
partially offset by lower interest expense.

EWC operational adjusted EBITDA was  $161 million  in the fourth quarter of
2012, compared to  $193 million  in the same period a year ago. The decline was
due largely to lower net revenue from the nuclear portfolio on lower energy
pricing. The average realized revenue per megawatt hour for the nuclear fleet
was approximately  $50, down from  $53  in the same period last year.  

For the year, EWC operational adjusted EBITDA was  $618 million  compared to 
$862 million  in 2011. The year-over-year decrease was driven by lower net
revenue due to lower nuclear energy pricing. Nuclear generation also declined
versus 2011 due to an increase in refueling and unplanned outage days. The
effect of increased outage days was partially offset by the exercise of resupply
options provided for in power purchase agreements. Also partially offsetting in
net revenue was contributions from the Rhode Island State Energy Center power
plant acquired in  December 2011. Higher non-fuel operation and maintenance
expense and taxes other than income taxes also contributed to the operational
adjusted EBITDA decline. Decreased nuclear refueling outage expense provided a
partial offset following the first quarter 2012 asset impairment of Vermont
Yankee.

Parent & Other

Parent & Other reported a loss of  $42.3 million, or  24 cents  per share, on an
as-reported basis and an operational basis for fourth quarter 2012. This
compares to a loss of  $170.6 million, or  97 cents  per share, on an
as-reported basis and  $157.5 million, or  90 cents  per share, on an
operational basis in fourth quarter 2011. The increase in results was driven by
lower income tax expense on Parent & Other activities, partially offset by
higher interest expense.

For the year 2012, Parent & Other reported a loss of  $136.7 million, or  77
cents  per share, on an as-reported basis and  $135.7 million, or  77 cents  per
share, on an operational basis. This compares to an as-reported loss of  $248.7
million, or  $1.39  per share, and an operational loss of  $235.7 million, or 
$1.32  per share, in 2011. Lower income tax expense was the primary factor in
the year-over-year operational earnings per share increase, partially offset by
higher interest expense. In addition to the quarterly income tax effects noted
above, second quarter 2012 benefited from a favorable decision from the U.S.
Court of Appeals for the Fifth Circuit affirming Entergy's entitlement to claim
foreign tax credits for the U.K. Windfall Tax.

Earnings Guidance

Entergy affirmed its previously issued 2013 earnings guidance in the range of 
$4.60 to $5.40  per share on both an as-reported basis and an operational basis.
Entergy noted it currently expects to be in the lower half of the operational
guidance range due to updated pension and post-retirement cost estimates.
As-reported earnings guidance for 2013 does not reflect potential future
expenses for the proposed spin-merge of the transmission business with ITC. The
as-reported 2013 guidance will be updated throughout the year as these
transaction-related expenses are incurred.

Long-term Financial Outlook

Entergy believes it offers a long-term, competitive utility investment
opportunity combined with a valuable option represented by a unique, clean,
non-utility generation business located in attractive power markets.  

The current long-term financial outlook for 2010 through 2014, excluding the
effects of the proposed spin-merge of the transmission business discussed below,
includes the following:  

Earnings:

* Utility net income:  Around 6 percent compound annual net income growth rate
over the 2010 - 2014 horizon (2009 base year).  
* Entergy Wholesale Commodities results:  Revenue projections through 2014 will
experience volatility due to commodity market activities - one of the most
important fundamental drivers for this business. At current sold and forward
prices with its existing asset portfolio and contracts, Entergy Wholesale
Commodities is expected to deliver declining adjusted EBITDA for the period
through 2014 compared to 2010. However, Entergy Wholesale Commodities offers a
valuable long-term option from the potential positive effects of economic growth
(driving increased load, market heat rates, capacity prices and natural gas
prices), aging and unprofitable unit retirements (driving market heat rate
expansion and capacity price increases), rationalization of supply and growth of
demand in natural gas markets, new environmental legislation and/or enforcement
of additional environmental regulations.  
* Corporate results:  Results will vary depending upon factors including future
effective income tax and interest rates and the amount/timing of share
repurchases, if any.

Capital deployment:

* A balanced capital investment/return program:  Entergy continues to see
value-added investment opportunities at the Utility, as well as an investment
outlook at Entergy Wholesale Commodities that supports continued safe, secure
and reliable operations and opportunistic investments. Entergy aspires to fund
this capital program without issuing traditional common equity, while
maintaining a competitive capital return program. Given the company's financial
profile with a mix of utility and non-utility businesses, both common stock
dividends and share repurchases will be considered in establishing return of
capital policies. Over the five year period from 2010 - 2014 under the current
long-term business outlook, capital deployment through dividends and share
repurchases is projected to total around  $4 billion. The amount of share
repurchases may vary as a result of material changes in business results,
capital spending or new investment opportunities.

Credit quality:

* Strong liquidity.  
* Solid credit metrics that support ready access to capital on reasonable
terms.

Spin-Merge of Transmission Business

In  December 2011, the Entergy and ITC boards of directors approved a definitive
agreement under which Entergy will spin off and then merge its electric
transmission business with a subsidiary of ITC. The transaction is targeted to
close in 2013 and is subject to the satisfaction of certain closing conditions.
Primary filings required include the Entergy Utility operating companies' retail
regulators as well as several federal agencies. ITC shareholders must also
approve the transaction.

Additional Information and Where to Find It

On  Sept. 25, 2012, ITC filed a registration statement on Form S-4 with the SEC
registering shares of ITC common stock to be issued to Entergy shareholders in
connection with the proposed transactions, but this registration statement has
not become effective. This registration statement includes a proxy statement of
ITC that also constitutes a prospectus of ITC, and will be sent to ITC
shareholders. In addition, Mid South TransCo LLC (TransCo) will file a
registration statement with the SEC registering TransCo common units to be
issued to Entergy shareholders in connection with the proposed transactions.
Entergy shareholders are urged to read the proxy statement/prospectus included
in the ITC registration statement and the proxy statement/prospectus to be
included in the TransCo registration statement (when available) and any other
relevant documents, because they contain important information about ITC,
TransCo and the proposed transactions. ITC shareholders are urged to read the
proxy statement/prospectus and any other relevant documents because they contain
important information about TransCo and the proposed transactions. The proxy
statement/prospectus and other documents relating to the proposed transactions
(when they are available) can be obtained free of charge from the SEC's website
at  www.sec.gov. The documents, when available, can also be obtained free of
charge from Entergy upon written request to Entergy Corporation, Investor
Relations, P.O. Box 61000,  New Orleans, LA  70161 or by calling Entergy's
Investor Relations information line at 1-888-ENTERGY (368-3749), or from ITC
upon written request to ITC Holdings Corp., Investor Relations, 27175 Energy
Way,  Novi, MI  48377 or by calling 248-946-3000.

Entergy Corporation, which celebrates its 100th birthday this year, is an
integrated energy company engaged primarily in electric power production and
retail distribution operations. Entergy owns and operates power plants with
approximately 30,000 megawatts of electric generating capacity, including more
than 10,000 megawatts of nuclear power, making it one of the nation's leading
nuclear generators. Entergy delivers electricity to 2.8 million utility
customers in  Arkansas,  Louisiana,  Mississippi  and  Texas. Entergy has annual
revenues of more than  $10 billion  and approximately 15,000 employees.

Additional information regarding Entergy's quarterly results of operations,
regulatory proceedings and other matters is available in Entergy's investor news
release dated  Feb. 8, 2013, a copy of which has been filed today with the
Securities and Exchange Commission on Form 8-K and is available on Entergy's
investor relations website at  www.entergy.com/investor_relations.  

In this news release, and from time to time, Entergy makes certain
"forward-looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995. Except to the extent required by the federal
securities laws, Entergy undertakes no obligation to publicly update or revise
any forward-looking statements, whether as a result of new information, future
events, or otherwise.

Forward-looking statements involve a number of risks and uncertainties. There
are factors that could cause actual results to differ materially from those
expressed or implied in the forward-looking statements, including (a) those
factors discussed in: (i) Entergy's Form 10-K for the year ended  Dec. 31, 2011;
(ii) Entergy's Form 10-Q for the quarters ended  March 31, 2012,  June 30, 2012 
and  Sept. 30, 2012  and (iii) Entergy's other reports and filings made under
the Securities Exchange Act of 1934; (b) uncertainties associated with rate
proceedings, formula rate plans and other cost recovery mechanisms; (c)
uncertainties associated with efforts to remediate the effects of major storms
and recover related restoration costs; (d) nuclear plant relicensing, operating
and regulatory risks, including any changes resulting from the nuclear crisis in
Japan following its catastrophic earthquake and tsunami; (e) legislative and
regulatory actions and risks and uncertainties associated with claims or
litigation by or against Entergy and its subsidiaries; (f) conditions in
commodity and capital markets during the periods covered by the forward-looking
statements, in addition to other factors described elsewhere in this release and
subsequent securities filings and (g) risks inherent in the proposed spin-off
and subsequent merger of Entergy's electric transmission business with a
subsidiary of ITC Holdings Corp. Entergy cannot provide any assurances that the
spin-off and merger transaction will be completed and cannot give any assurance
as to the terms on which such transaction will be consummated. The spin-off and
merger transaction is subject to certain conditions precedent, including
regulatory approvals and approval by ITC Holdings Corp. shareholders.

Appendix A provides a reconciliation of GAAP consolidated as-reported earnings
to non-GAAP consolidated operational earnings.

 Appendix A:  Consolidated Earnings - Reconciliation of GAAP to Non-GAAP Measures         
 
Fourth Quarter and Year-to-Date 2012 vs. 2011                                           
 (Per share in U.S. $)                                                                    
                                    Fourth Quarter            Year-to-Date              
                                    2012    2011    Change  2012    2011    Change  
 As-Reported                                                                        
 Utility                            1.57    0.96    0.61    5.30    6.20    (0.90)  
 Entergy Wholesale Commodities      0.33    0.88    (0.55)  0.23    2.74    (2.51)  
 Parent & Other                     (0.24)  (0.97)  0.73    (0.77)  (1.39)  0.62    
 Consolidated As-Reported Earnings  1.66    0.87    0.79    4.76    7.55    (2.79)  
                                                                                    
 Less Special Items                                                                 
 Utility                            (0.06)  -       (0.06)  (0.21)  -       (0.21)  
 Entergy Wholesale Commodities      -       -       -       (1.26)  -       (1.26)  
 Parent & Other                     -       (0.07)  0.07    -       (0.07)  0.07    
 Consolidated Special Items         (0.06)  (0.07)  0.01    (1.47)  (0.07)  (1.40)  
                                                                                    
 Operational                                                                        
 Utility                            1.63    0.96    0.67    5.51    6.20    (0.69)  
 Entergy Wholesale Commodities      0.33    0.88    (0.55)  1.49    2.74    (1.25)  
 Parent & Other                     (0.24)  (0.90)  0.66    (0.77)  (1.32)  0.55    
 Consolidated Operational Earnings  1.72    0.94    0.78    6.23    7.62    (1.39)  
                                                                                    


Appendix B provides a reconciliation of Entergy Wholesale Commodities GAAP net
income to non-GAAP operational adjusted EBITDA.

 Appendix B:  Entergy Wholesale Commodities Operational Adjusted EBITDA - Reconciliation of GAAP to Non-GAAP Measures 
 Fourth Quarter and Year-to-Date 2012 vs. 2011                                                                  
 ($ in millions)                                                                                                
                                                                                                                
                                                        Fourth Quarter             Year-to-Date               
                                                        2012  2011  Change       2012  2011  Change       
 Net income                                             59    156   (97)         40    492   (452)        
 Add back: interest expense                             3     6     (3)          18    33    (15)         
 Add back: income tax expense                           50    18    32           61    176   (115)        
 Add back: depreciation and amortization                47    46    1            176   179   (3)          
 Subtract: interest and investment income               28    29    (1)          105   99    6            
 Add back: decommissioning expense                      30    (4)   34           72    81    (9)          
 Adjusted EBITDA                                        161   193   (32)         262   862   (600)        
 Add back: special item for asset impairment            -     -     -            356   -     356          
 Operational Adjusted EBITDA                            161   193   (32)         618   862   (244)        
                                                                                                          
                                                                                                      


                                                                                                  
                                                                                                  
 Entergy Corporation                                                                              
 Consolidated Income Statement                                                                    
 Three Months Ended December 31                                                                   
 (in thousands)                                                                                   
                                                                                               
                                                                                               
                                                            2012              2011             
                                                            (unaudited)                          
 Operating Revenues:                                                                           
 Electric                                                   $1,830,897        $1,861,980       
 Natural gas                                                37,392            39,366           
 Competitive businesses                                     567,971           587,686          
 Total                                                      2,436,260         2,489,032        
 Operating Expenses:                                                                           
 Operation and maintenance:                                                                    
 Fuel, fuel-related expenses, and gas purchased for resale  464,571           571,707          
 Purchased power                                            288,984           275,787          
 Nuclear refueling outage expenses                          61,311            64,101           
 Other operation and maintenance                            785,634           790,692          
 Decommissioning                                            58,120            23,366           
 Taxes other than income taxes                              132,969           129,533          
 Depreciation and amortization                              307,874           289,531          
 Other regulatory charges (credits) - net                   12,595            1,620            
 Total                                                      2,112,058         2,146,337        
 Operating Income                                           324,202           342,695          
 Other Income (Deductions):                                                                    
 Allowance for equity funds used during construction        21,773            24,747           
 Interest and investment income                             33,010            33,088           
 Miscellaneous - net                                        (11,421)          (18,773)         
 Total                                                      43,362            39,062           
 Interest Expense:                                                                             
 Interest expense                                           154,434           142,036          
 Allowance for borrowed funds used during construction      (9,435)           (10,496)         
 Total                                                      144,999           131,540          
 Income Before Income Taxes                                 222,565           250,217          
 Income Taxes                                               (79,285)          90,190           
 Consolidated Net Income                                    301,850           160,027          
 Preferred Dividend Requirements of Subsidiaries            5,582             5,887            
 Net Income Attributable to Entergy Corporation             $296,268          $154,140         
                                                                                               
                                                                                               
 Earnings Per Average Common Share                                                             
 Basic                                                      $1.67             $0.87            
 Diluted                                                    $1.66             $0.87            
                                                                                               
 Average Number of Common Shares Outstanding - Basic        177,742,807       176,161,769      
 Average Number of Common Shares Outstanding - Diluted      178,042,364       177,082,570      
                                                                                                  
                                                                                                  


                                                                                                  
                                                                                                  
 Entergy Corporation                                                                              
 Consolidated Income Statement                                                                    
 Twelve Months Ended December 31                                                                  
 (in thousands)                                                                                   
                                                                                               
                                                                                               
                                                            2012              2011             
                                                            (unaudited)                          
 Operating Revenues:                                                                           
 Electric                                                   $7,870,649        $8,673,517       
 Natural gas                                                130,836           165,819          
 Competitive businesses                                     2,300,594         2,389,737        
 Total                                                      10,302,079        11,229,073       
 Operating Expenses:                                                                           
 Operation and maintenance:                                                                    
 Fuel, fuel-related expenses, and gas purchased for resale  2,036,835         2,492,714        
 Purchased power                                            1,255,800         1,564,967        
 Nuclear refueling outage expenses                          245,600           255,618          
 Asset impairment                                           355,524           -                
 Other operation and maintenance                            3,045,392         2,867,758        
 Decommissioning                                            184,760           190,595          
 Taxes other than income taxes                              557,298           536,026          
 Depreciation and amortization                              1,144,585         1,102,202        
 Other regulatory charges (credits) - net                   175,104           205,959          
 Total                                                      9,000,898         9,215,839        
 Operating Income                                           1,301,181         2,013,234        
 Other Income (Deductions):                                                                    
 Allowance for equity funds used during construction        92,759            84,305           
 Interest and investment income                             127,776           128,994          
 Miscellaneous - net                                        (53,214)          (59,271)         
 Total                                                      167,321           154,028          
 Interest Expense:                                                                             
 Interest expense                                           606,596           551,521          
 Allowance for borrowed funds used during construction      (37,312)          (37,894)         
 Total                                                      569,284           513,627          
 Income Before Income Taxes                                 899,218           1,653,635        
 Income Taxes                                               30,855            286,263          
 Consolidated Net Income                                    868,363           1,367,372        
 Preferred Dividend Requirements of Subsidiaries            21,690            20,933           
 Net Income Attributable to Entergy Corporation             $846,673          $1,346,439       
                                                                                               
                                                                                               
 Earnings Per Average Common Share                                                             
 Basic                                                      $4.77             $7.59            
 Diluted                                                    $4.76             $7.55            
                                                                                               
 Average Number of Common Shares Outstanding - Basic        177,324,813       177,430,208      
 Average Number of Common Shares Outstanding - Diluted      177,737,565       178,370,695      
                                                                                                  
                                                                                                  


                                                                                                                                  
                                                                                                                                  
 Entergy Corporation                                                                                                              
 Utility Electric Energy Sales & Customers                                                                                        
                                                                                                                            
 Three Months Ended December 31                                                                                                   
                                                                                                                          
                                             2012                              2011         %                 %           
                                                                                            
 Change          
Weather-   
                                                                                                              Adjusted    
                                             (Millions of kWh)                                                              
 Electric Energy Sales:                                                                                                   
 Residential                                 7,360                             7,274        1.2               2.6         
 Commercial                                  6,730                             6,672        0.9               1.3         
 Governmental                                583                               598          (2.5)             (2.3)       
 Industrial                                  10,067                            10,130       (0.6)             (0.6)       
 Total to Ultimate Customers                 24,740                            24,674       0.3               0.8         
 Wholesale                                   798                               1,090        (26.8)                        
 Total Sales                                 25,538                            25,764       (0.9)                         
                                                                                                                          
                                                                                                                          
 Twelve Months Ended December 31                                                                                                  
                                                                                                                          
                                             2012                              2011         %                 %           
                                                                                            
 Change          
Weather-A  
                                                                                                              djusted     
                                             (Millions of kWh)                                                              
 Electric Energy Sales:                                                                                                   
 Residential                                 34,664                            36,684       (5.5)             2.9         
 Commercial                                  28,724                            28,720       0.0               2.3         
 Governmental                                2,435                             2,474        (1.6)             (1.0)       
 Industrial                                  41,181                            40,810       0.9               0.9         
 Total to Ultimate Customers                 107,004                           108,688      (1.5)             1.9         
 Wholesale                                   3,200                             4,111        (22.2)                        
 Total Sales                                 110,204                           112,799      (2.3)                         
                                                                                                                          
                                                                                                                          
 December 31                                                                                                                      
                                                                                                                           
                                                             2012              2011         %                              
                                                                                            
Change                        
 Electric Customers  (End of period):                                                                                       
 Residential                                                 2,379,955         2,362,444    0.7                            
 Commercial                                                  339,228           336,744      0.7                            
 Governmental                                                16,642            16,419       1.4                            
 Industrial                                                  42,230            41,173       2.6                            
 Total Ultimate Customers                                    2,778,055         2,756,780    0.8                            
 Wholesale                                                   23                20           15.0                           
 Total Customers                                             2,778,078         2,756,800    0.8                            
                                                                                                                           


SOURCE  Entergy Corporation


Michael Burns, News Media, +1-504-576-4238, mburns@entergy.com, Paula Waters,
Investor Relations, +1-504-576-4380, pwater1@entergy.com

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