Entergy 2007 Annual Report Download - page 12

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Entergy Corporation and Subsidiaries 2007
10
“We aspire to consistently deliver value in keeping with our belief in sustainable development
An Accident-Free Workplace
e safety and well being of our employees comes before all other aspirations
at Entergy. We aspire to an accident-free workplace. At every work location
including generating facilities, oces, transmission and distribution
networks, Entergy companies’ employees and contractors are focused on
building the behaviors, systems and culture that we need to achieve zero
accidents. In 2007, our Lost Work Day Incident Rate, which measures the
annual lost work day cases per 100 employees, was 0.22 compared to 0.25
in 2006. In fact, 2007 was the safest year ever for our employees. However,
we suered a major setback in November 2007 – the fatality of a contractor
working for the Entergy New Orleans gas business. We are reminded again that
in the area of safety, improvement is inadequate. We must continue to strive for
perfection – no lost-time accidents. Anything else is simply not enough.
The Cleanest Power Generator in America
We strive to be the cleanest power generator in America – one that
voluntarily adheres to greenhouse gas emission levels and conserves natural
resources in as many ways as possible. We are the second-cleanest utility
generator among the top 10 U.S. generators, due largely to our portfolio
of clean nuclear and natural gas generation resources. We continued to
build our clean portfolio in 2007, with the closing of our purchase of the
Palisades Nuclear Plant and the announced acquisition of two gas-red
generation facilities, Calcasieu Generating Facility and Ouachita Power
Facility, both in Louisiana.
We more than met our goal for 2006 and 2007 under our second
voluntary commitment to stabilize CO2 emissions from 2006 to 2010 at
20 percent below year 2000 levels. We achieved these results through
internal projects reducing emissions from our facilities and through
external projects. For example, we are working with Nike, Inc., the
Environmental Resources Trust and other concerned citizens to form a
Solar Reinvestment Fund to help revitalize New Orleans with newly
constructed, solar-powered schools and homes. With its use of solar
energy, the initiative will reduce CO2 emissions while helping New
Orleans recover from the devastation of Hurricane Katrina. Entergy
also purchased emission reduction credits totaling 100,000 metric
tons from Nike. e credits were veried and registered by the
Environmental Resources Trust as a result of Nike exceeding its
carbon footprint goals with the World Wildlife Fund’s Climate
Savers program.
Our eorts to limit greenhouse gas emissions earned Entergy a 2007
Climate Protection Award from the U.S. Environmental Protection Agency.
We were the only utility company among the 17 award winners who were
honored for showing ingenuity, leadership and public purpose by improving
their environmental performance and encouraging others to do the same.
Finally, we continued our environmental eorts focused on coastal
restoration, recycling, community improvement and energy eciency.
To that end, we have a partnership with Keep America Beautiful, Inc. to
This story is a drama about ENTERGY, a
resourceful power company that sets out to
unlock the value that exists in its non-utility
nuclear assets and reveal the value in
its utilities.
ENTERGY seeks ways to separate the non-
utility nuclear business from its utilities inside
the same corporate structure, evaluating
multiple financial scenarios. It’s a no go.
ENTERGY turns outside and even considers
selling the assets to others. The tax
consequences are overwhelming and it
appears our protagonist may be thwarted.
But… all is not lost. A spin-off of non-utility
nuclear assets to shareholders creates
corporate opportunities and unlocks the value,
a nuclear operations JV ensures that value
will continue to be generated and the unique
value in its utilities is revealed.
DEVELOPMENT
As early as 2006, we began to explore within Entergy the idea of
a transaction to unlock the value of our non-utility nuclear assets.
The Making of The Value Trilogy