- Entergy (NYSE:ETR) finished as today's biggest loser on the S&P 500, a day after the New Orleans City Council's Utility Committee voted unanimously to launch investigations and audits of Entergy New Orleans.
- Entergy said this week it would be willing to discuss having the city assume control of the New Orleans municipal power system.
- At yesterday's meeting, City Council President Helena Moreno said the committee was not looking to municipalize Entergy New Orleans but did accuse the company of not making the proper investments in transmission infrastructure.
- Ratings agency Moody's today affirmed Entergy's issuer rating at Baa2 but with a negative outlook, down from stable; S&P recently affirmed its BBB+ rating for the company.
- Entergy has been heavily criticized for its performance in Hurricane Ida, particularly losing all eight of its primary transmission lines into the New Orleans metro area.
New Orleans City Council to launch investigations, audits into Entergy
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Symbol | Last Price | % Chg |
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ETR | - | - |
Entergy Corporation |