BOSTON, June 4, 2002 — Entergy Corp.’s business leadership and nuclear operational excellence recently earned the company the 2002 Edison Award from the Edison Electric Institute.
The award recognizes Entergy Corporation, a major global energy company headquartered in New Orleans, for its accomplishments in creating its new operational region, Entergy Nuclear Northeast; for purchasing a series of nuclear plants, improving operations and turning them into financial successes; and for creating safer, more efficient nuclear operations at all its plants in the South and Northeast.
Edison Electric Institute presented the award in Boston at its annual conference, “Power America Can Count On!” This is the 43rd year for the Edison Award and the first time Entergy has been the recipient.
“These acquisitions and subsequent efficiency improvements clearly demonstrate Entergy’s ability to safely manage nuclear assets while driving down costs,” said Thomas R. Kuhn, president of the Edison Electric Institute. “Their innovative business strategy and ultimate commitment to customers and shareholders earned them this prestigious honor.”
“We are pleased that the industry’s leading experts recognize that Entergy’s aggressive expansion of its nuclear plant fleet has created safer, more efficient, reliable and environmentally friendly operations that benefit our customers, employees, shareholders and the communities where we operate,” said Entergy Chief Executive Officer J. Wayne Leonard. “We are proud to be recognized in our industry and to receive the Edison Award.”
In a 22-month period from the fall of 1999 through September 2001, Entergy purchased four nuclear plants in Massachusetts and New York State and announced its plan to buy a fifth in Vermont, bringing its nationwide nuclear fleet to 10 units. During that period, the corporation’s Entergy Nuclear Northeast subsidiary was established, with headquarters in White Plains, N.Y., and the company set several world and national records for the brevity of its nuclear refueling outages. The company’s nuclear expertise allowed for best practice implementation at its newly acquired sites in terms of increased generation and decreased operating costs. Entergy increased overall plant availability to a level of 96 percent.
The company maximized its capability by reducing the average duration of refueling outages from 40 to 23 days, all while achieving occupational and safety records. For every day saved by cutting outage time a nuclear plant saves roughly $1 million in lost generation revenue.
Although financial success was the obvious outcome — the company has had 16 consecutive quarters exceeding earnings expectations of Wall Street — standardizing best practices also improved safety, expanded employee development and career opportunities. Additionally, some earnings from nuclear operations have been reinvested into Entergy’s core utility business.
Operational excellence has also bolstered the company’s commitment to remaining one of the cleanest electricity generators in the United States. The company has consistently low emission rates for sulfur dioxide, nitrogen oxide and carbon dioxide.
Last summer, the company received a 20-year license extension for its Arkansas Nuclear One Unit 1, and is now preparing renewal applications for four additional nuclear plants, including two owned by other companies. Entergy is also one of three energy companies that have announced plans to pursue an early site permit as part of new nuclear licensing processes.
The Edison Award is given annually by the Edison Electric Institute to the shareholder-owned member company making the most outstanding contribution to the advancement of the industry in the past year. A review committee of national industry trade journal editors chooses the finalists for the award. The winner was selected by a judging panel composed of former EEI chairmen and academicians.
Entergy is a major global energy company with power production, distribution operations, and related diversified services. Entergy owns, manages, or invests in power plants generating more than 30,000 megawatts of electricity domestically and internationally, and delivers electricity to about 2.6 million customers in portions of Arkansas, Louisiana, Mississippi and Texas. Through Entergy-Koch, L.P., it is also a provider of wholesale energy marketing and trading services.
The Edison Electric Institute (EEI) is the association of U.S. shareholder-owned electric companies, international affiliates and industry associates worldwide. The Institute’s U.S. members generate about three- quarters of all the electricity in the United States and service roughly 70 percent of all ultimate customers in the nation.