Entergy has just agreed to shutter two coal plants in settlement of litigation with the Sierra Club. BURN MORE COAL has now asked Entergy CEO Leo Denault for a copy of the settlement agreement.
Here’s the text of the letter:
November 21, 2018
Mr. Leo P. Denault
Chairman & CEO
Entergy Corporation
639 Loyola Avenue
New Orleans, LA 70113Dear Mr. Denault:
We are writing concerning Entergy’s recent settlement with the Sierra Club and other environment groups that will result in the future shut down of two coal plants, the White Bluff Steam Electric Station and the Independence Steam Electric Station.
As a shareholder in Entergy, we are concerned that this settlement, especially its pointless commitment to shutter these coal plants, may unnecessarily harm the interests of shareholders.
Maintaining existing coal plants, as you know, is the least-cost means of electricity generation.
This settlement (as reported) portends higher electricity prices that will not accomplish anything positive for shareholders, ratepayers, public health or the environment. It also continues the problematic practice among electric utilities of settling, to the disadvantage of the aforementioned concerns, phony disputes manufactured by unaccountable political activist groups.
We are requesting a copy of the settlement agreement so that we may review it.
Thank you for your prompt attention.
Sincerely,
/s/
Fredrick D. Palmer
Steven J. Milloy
Managing Directors