Attorney General Jim Hood gave reporters an update on the Entergy case last week.
“We’ve finally got Entergy cornered,” said Hood. After nearly a decade of battling it looks like Energy will finally be required to reimburse consumers. Hood says the company owes Mississippi rate payers over $1 billion, that includes interest and penalties under the Consumer Protection Act.
The trial is set for November 5th. Hood estimates the trial will take at least two weeks.
“They’re going to have to pay one way or another,” said Hood.
Hood contends that Entergy had a monopoly on energy in the state, which requires them to enter into an “open-book” compact with Mississippi. According to his side of the legal argument, they were entitled to a reasonable profit, but are required to sell the lowest possible energy available.
Hood alleges that they were not sticking to that agreement and that Entergy was buying the cheap electricity from small independents and sell it on the open market. The profits went into the pocket of the parent hub, and charged rate payers a higher price, which is a direct violation of the agreement.
This case will be played out most likely in Court and Entergy has continued to maintain in Court filings that they have abided by all applicable laws and agreements.