Entergy Predicts Lower Earnings, Small Impact from Tax Reform, and Plant Closings

Entergy Predicts Lower Earnings, Small Impact from Tax Reform, and Plant Closings

Feb 17, 2017

by Margarita Fournier; Copyright 2016 by Competitive Assets, LLC.  All rights reserved

On 2/15/17, SNL Energy wrote about the possible impact of tax reform on some utilities, including Entergy. “Entergy Corp. management predicts a cut in the federal income tax rate would reduce earnings at the parent level, but there would be minimal cash impact given the company’s net operating loss tax position. U.S. House Republicans and the Trump administration have signaled plans to take up broad tax reform this year, with many in the utility industry anticipating a cut in the corporate tax rate to 20% from 35%.” In other news, “Entergy management also pointed out that the company has finalized plans to exit the merchant business through the sale and shutdown of nuclear plants. The company expects to close the sale of the James A. FitzPatrick nuclear plant in New York to Exelon Corp. in the second quarter. In addition, the exit includes the December 2014 retirement of the Vermont Yankee nuclear plant, along with the planned shutdowns of Indian Point 2 and Indian Point 3 in New York, Pilgrim Nuclear Power Station in Massachusetts, and Palisades in Michigan.”

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Posted by CompetitiveAssets on February 17th, 2017

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