During this summer, we’ve seen Entergy New Orleans place a temporary
moratorium on utility shutoffs and other programs seeking to help with payment of extraordinary high bills.
Guy Williams, CEO of Gulf Coast Bank and Trust, says those short-term fixes are a response to an unusual set of circumstances.
The first has to do with the Grand Gulf Nuclear Power Station in Port Gibson, Mississippi being down for refueling. That nuclear station produces a substantial portion of electricity for the New Orleans area. As a result, Entergy (which owns the nuclear power station) must go to the energy market and buy the power to make up for the lost energy production from the nuclear station.
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Natural gas is the most source for that energy. Natural gas prices this summer have experienced steep spikes due to market conditions and the war in Ukraine.
On the Newell Normand Show, Williams said Southeast Louisiana has enjoyed relatively low energy prices for quite some time, but some changes to energy sources may be needed in the future.
“Strategically we should compact nuclear power plants because our nuclear
power plants are very old. They’ve been tremendously efficient for a long time, but they’re beginning to reach the end of their lives. So, the new compact nuclear power plants are something we should look at,” Williams told Newell this week.
What will compact nuclear plants bring? Do “green” sources of energy play a role in power production for Louisiana? Click the link above to listen to Williams’ take on energy reliability and other topics including rent control.
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