Some feel Entergy assistance much too little
Lake Charles, LA (KPLC) - Next week, applications will open up for residents to get a credit on their Entergy bill.
Those who qualify can see up to a $150 reduction through an Entergy partnership with United Way.
Yet social media is on fire with criticism. Some people feel $150 is too little, too late and doesn’t begin to address the needs of people.
Others we spoke with are thankful for the help.
One of those who feel the $150 is a pittance is retired physician Dr. James Jancuska.
He finds it grossly inadequate.
“In my opinion, when a corporation’s shareholders have an increase in their net value, per se, of $2 billion dollars in less than a month, I think they could have done a lot more,” Jancuska said.
A spokesperson for Entergy says that is misleading because one month doesn’t tell the whole story and that their stock is not yet at pre-pandemic levels.
There are those who genuinely appreciate a $150 credit.
Even though 65-year-old Robert Swain doesn’t yet know if he qualifies.
“We all need help in our life, somewhere along life’s highway,” said 65-year-old Robert Swain. “I wish everyone can get it really, because it’s tough times for everybody. I just thank God for them giving it to us.”
People can start applying for the credit Aug. 17. Still Jancuska says it equals a tiny amount of Entergy’s value.
“For each hundred dollars of increased value the shareholders have, what they’re giving back is equivalent to 22.5 cents,” he said. “I’ve been following their stock out of curiosity and as of a half hour ago the shareholders value, just today, has increased another $228 million dollars because the stock continues to go up.”
Again, Entergy says a snapshot does not reflect all the ups and downs over time.
Dr. Jancuska hopes people will attend a town meeting at 5:30 p.m. Monday at Sale Street Baptist Church. It’s being held by incumbent District 4 Public Service Commissioner Mike Francis. Entergy says they will have someone at the meeting.
Check this link for information on how to apply for the $150. Remember Entergy Louisiana is the company that operates in Southwest Louisiana. Entergy New Orleans only operates in the eastern portion of the state.
A single person applying for the $150 credit cannot earn over $33,975.
Here is Entergy’s complete statement:
The statement is a bit misleading. Looking at a one-month snapshot of any stock does not take into account market movement driven by broader market forces. Looking at the chart below, you can see our stock price (blue) is highly correlated to the broader US utility index (green). Further, if referencing how much our stock has gained or lost, timeframe matters. If you look back to the beginning of June, you can see we lost 0.9% of our market cap with some pretty big ups/downs in between. It should also be noted that our value still has not returned to pre-COVID levels.
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