Your power bill is likely to see a sizable jump, twice, in the coming months; and energy provider Entergy says there are a pair of reasons for the rate hike.
According to the Advocate, Entergy Louisiana will apply revenue generated from an increase in June bills will go to pay for the $869 million St. Charles Power Station in Montz. The utility says the new plant, which came online last month, is one of the cleanest, most efficient natural gas powered plants in service.
Entergy Louisiana expects to raise almost $110 million a year. That means electric bills could go up from $5.68 to $7.10 per 1000 kilowatt hours per month, depending on location. In all a million customers with Entergy Louisiana and Entergy Gulf States are on the hook for the cost of the plant.
Then in September, Entergy is expected to raise rates again. This time the rate hike is related to Federal Tax Reform. Rates will jump between $2.02 and $3.79 for 1000 kilowatt hours per month depending which Entergy Utility serves them. Entergy expects to generate upwards of $118-million per year.
With more new power stations starting up in the next two years, more rate hikes to pay for them are expected.