Entergy Corp. Overview

Entergy Corp.

Introduction

Entergy is a North America-based and Fortune 500 company headquartered in New Orleans, United States. The company’s mission is simple: to power life. Supplying and distributing carbon-free, cleaner, more sustainable, reliable, and efficient energy, and nuclear gas to more than 3 million clients across the United States with a strong customer base in such major states as Louisiana, Arkansas, Texas, Mississippi, Entergy has grown to build itself a world-class reputation in the energy distributing industry. With more than 100 years of cumulative and evidence-based experience, Entergy recognizes the key to building a successful and sustainable organization, and it leverages this knowledge by striving to create a sustainable and viable value for four major stakeholders which are: its customers, its employee, its owners, and its communities, and this by extension happen to become one of the secrets to Entergy’s astounding success as a company. In this piece, however, you would be shown a comprehensive and extensive overview of this astounding company. As such, all relevant information detailing its historical background, its key facts, its modus-operandi (mode of operation), its affiliated companies, its financial overview, as well as its pros and cons would be concisely covered to enable you to understand the major key major elements of the company as quick as possible.

Key Facts

Years in Operation: Over 100 years

Customer Level

Energy Customers: Over 3 million active energy customers

Natural Gas Customers: More 206, 000

Employee Strength: 12, 000

Power Generation Capacity: 24, 000 megawatts

Distribution & Transmission: 121, 600 circuit miles

Efficiency Ranking: A Fortune 500 company

Trading Platform: New York Stock Exchange (NYSE) market.

Historical Snapshot

With myriads of relevant and iconic histories enclosed in its archive since its existence over a century ago, no doubt, Entergy’s history is an interesting and intriguing case to study, however, for the sake of brevity and to make this piece cover as much relevant information as possible, the succeeding lines will give a detailed, but concise overview since its inception up to date.

1913 – 1950

Entergy was founded in 1913, when its founder and former president of its Arkansas Power Company, Harvey Couch conceded with H.H. Foster (who was then the president of Arkansas Land and Lumber) to strike a deal to generate power by simply using Foster’s sawdust as fuel and distributing the generated energy across the region of Arkansas and its neighboring axis. Thus, the agreement thereafter marked the genesis of what has now grown to become a mighty colossus in the energy generating and distributing industry.

In 1922, the company established New Orleans Public Service Inc. (NOPSI), to primarily generate and distribute gas and electricity across all regions in New Orleans. MP&L: Mississippi Power and Light Company were established (1923). In 1927, Louisiana Power and Light Company (LP&l) was established. In 1941, the company’s founder, Harvey Couch dies. In 1948, the MP&L plant named after its then president, Rex Brown with the name, The Rex Brown Plant became the first largest electricity generating source in Mississippi. 1949, Middle South Utilities, Inc., was established and headquartered in New York and serves as a holding for LP&L, AP&L, NOPSI, and MP&L.

1960 – 1980

In 1961, LP&L Little Gypsy Plant emerges as the world’s first generating unit that is fully automated.

In 1969, MSU, Inc., served over 1 million energy customers. In 1974, Nuclear One belonging to AP&L emerges as the Southeast’s first-ever nuclear power plant in operation. In 1974, MSU moves its corporate headquarter to New Orleans from New York. In 1980, MSU made White Bluff Plant in Arkansas its first coal fire unit.

1981 – 2000

In 1985, Edwin Lupberger took over the role of MSU’s chief executive officer succeeding Floyd Lewis after his retirement. In the same year, the company enters into commercial operation with its Waterford 3 and Grand Gulf One plants. In 1989, the company re-branded its name to Entergy Corporation. The company’s name is derivative of three words: Enterprise, Energy, and Synergy, and its ascribed to the company’s new strategy to respond to the swiftly evolving industry. In 1993, Entergy Corporation amalgamates with Gulf States Utilities Company and added River Bend Station as its number four nuclear site. In the same year, Entergy Corporation, recorded servicing over 2.3 million customers. In 1994, Entergy Corporation took a giant stride in expansion strategy, extending its market reach into several industrial niches and beyond the shores of the United States, and establishing international companies across all major countries of the world like China, Australia, the United Kingdom, and several the countries in South America. In 1998, Entergy Corporation reevaluates its operations, eliminating its non-core local business and some international holding in order to refocus on its main mission. In the same years, Wayne Leonard becomes the company’s chief executive officer. In 2000, Entergy Corporation purchased James A. Fitzpatrick Nuclear Power Plant and New York Indian Point Energy Center Unit 3. Ans in the same year, the company established its charitable organization to primarily support education, literacy programs, and low-income initiatives, under the name, Entergy Charitable Foundation.    

2001 – 2022

Entergy Corporation bought Indian Point Unit 2 located in New York and emerges as the nation’s first utility company to hold greenhouse gas emissions. In 2002, Entergy Corporation manages Cooper Nuclear Station located in Nebraska and bought Yankee Nuclear Power Station located in Vermont. In 2006, Entergy Corporation headquarters was moved to New Orleans. In 2007, Entergy Corporation bought Palisades Nuclear Power Plant in Michigan. In 2011, Entergy Corporation joins a regional transmission company operating under the name, Midcontinent Independent. In 2013, Entergy Corporation marks its 100th year anniversary and was listed on the Dow Jones Sustainability North America Index, and the World Index respectively. In the same year, Leo Danault becomes the company’s CEO succeeding J. Wayne Leonard. In 2017, Entergy Corporation sold the James A. Fitzpatrick Nuclear Power Plant to Exelon. In 2019, Entergy Corporation starts the installation of its developed advanced meters to its over 3 million clients across all its servicing territories. In 2021, Entergy Corporation launches its innovative center under the name, KeyString Labs, and it’s tailored to discover customer-centric growth opportunities. And finally, in 2022, Entergy Corporation renamed its power plant located in St. Charles Parish as the J. Wayne Leonard Power Station after its late Chairman and CEO.

Entergy Affiliated Companies

ENTERGY ARKANSAS, LLC

ENTERGY MISSISSIPPI, LLC

ENTERGY LOUISIANA, LLC

ENTERGY NEW ORLEANS, LLC

ENTERGY TEXAS, INC

ENTERGY NUCLEAR

Websites

Entergy-arkansa.com

Entergy-mississippi.com

Entergy-texas.com

Entergy-nuclear.com

Entergy-neworleans.com

Entergy-louisiana.com

Modus-Operandi/ Mode of Operation

Utility Operations: Owning approximately up to 24, 000 megawatts of electric generating capacity, and approximately 16,100 circuit miles of high-voltage transmission lines, utility operations cover the major part of the company’s operation as its sole mission is to provide and distribute reliable, and clean energy to its customers at an affordable cost, superior service, a commitment to operational excellence, safety, and a dedicated workforce. The company’s utility distribution strategically focuses on major states in the US: Mississippi, Texas, Arkansas, Louisiana, and New Orleans.

Nuclear Operations: Nuclear gas serves another niche where the company operates. Having five units with carbon-free, and clean nuclear power capacity of approximately 5, 000 megawatts, Entergy Corporation’s nuclear fleet headquarter is mounted in Jackson, Mississippi, and services Baton Rouge in Louisiana, and New Orleans.   

Corporate Social Responsibility (CSR): Another major part of Entergy Corporation focuses on giving back to its community by establishing a charitable organization, Entergy Corporation supports education, literacy programs, and low-income initiatives.

Financial Overview

Revenue: 10.113 Billion USD

Operating Income: 1.769 Billion USD

Net Income: 1.406 Billion USD

Total Asset: 58.239 Billion USD

Total Equity: 10.961 Billion USD

Pros

Entergy Corporation in its entirety offers a great deal of benefits that are not only limited its customers, owners, and employees alone but by extension, its immediate communities and the entire world at large. However, this section will outline the company’s major benefits to all its four major stakeholders: customers, employees, communities, and owners.

A 100% Customer-centric Company

Provision of Clear, Reliable, Carbon-free of Energy and Gas

Staff Welfarism and Other Perks

Career Progression and Growth for both Customers and Employees

Contributing to Sustainability Development

Fostering Social and Environmental Development through its CSR Policy

Cons

Poor Leadership Communication

No Work/Life Balance

Bureaucracy and Rigid Policy

Conclusion

Ultimately, after a comprehensive review outlined in the preceding lines, it is glaring and obviously clear that Entergy Corporation is a well-established and stable company with a long stretch of transition history since its inception in 1913. However, it is imperative to note that what made the company achieve its feat today is not its long years of existence, however, the ability to discover and recognized key stakeholders, know their needs, and strive to deliver optimum service and relevant support to meet these needs is the major key to Entergy Corporation’s astounding success. That being said, I hope you are able to absorb all the relevant and key information provided above and as promised in the beginning portion of this article.