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Entergy estimates up to $250M in damage from Hurricane Zeta

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Entergy estimates up to $250M in damage from Hurricane Zeta

Entergy Corp. has estimated the cost to repair or replace equipment damaged by Hurricane Zeta, which hit the Southeastern U.S. in late October, at approximately $220 million to $250 million.

The storm caused power outages and the loss of electricity sales from those outages, as well as damage to distribution and transmission infrastructure across Entergy's service territory, according to a Nov. 6 filing with the U.S. Securities and Exchange Commission.

Entergy's estimate includes $165 million to $185 million in damage at Entergy Louisiana LLC and $50 million to $60 million at Entergy New Orleans LLC, with a "minimal amount" at other Entergy utilities. The company noted that its estimate does not include the cost to repair an Entergy Louisiana transmission line in the southeast part of the state, saying "the amount of that cost could be significant." The company said it still is evaluating the cost to repair that transmission line.

Entergy said it is evaluating all available ways to recover storm costs, including funded storm reserve escrows and securitization.

Entergy previously disclosed that Hurricane Laura, which struck in August, inflicted $1.5 billion to $1.7 billion in damage to the transmission and distribution systems of Entergy Louisiana and Entergy Texas Inc. The company's preliminary cost estimate for damage from Hurricane Delta, which struck earlier in October, is $250 million to $350 million.