New Orleans City Council Cuts Entergy Profits, Fines Company For Outages

The New Orleans City Council is cutting Entergy New Orleans' profits.

The vote came yesterday after council members refused to consider $175 million in incentives that Entergy offered that was tied to a higher rate for the city.

The council also passed a $1 million fine on the power company for frequent outages in the city.

The council ultimately chose to lower the rates despite threats of litigation from Entergy, who warned that if the rate were not reconsidered, it would file a new rate case next year at a cost to customers of $7 million.

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