Entergy 2010 Annual Report Download - page 13

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ENTERGY CORPORATION AND SUBSIDIARIES 2010
he need for ingenuity. If ever there was an example, Hurricane Katrina provided
it. After Katrina devastated New Orleans in 2005, we had a decision to make.
Stay in New Orleans knowing it would take incredible commitment from our
employees to help rebuild the city or depart for another location. As our board of directors
and leadership team struggled with that decision, it became clear that the great majority of
our employees in the New Orleans area wanted to come back. New Orleans is home and a
city unlike any other.
As a company, we met multiple challenges as we worked to rebuild the city’s electric
and gas infrastructure so people could come home to New Orleans. Some of this work
continues to this day on the long-term rebuild of Entergy New Orleans’ gas distribution
system, a massive project to address unprecedented damage from saltwater intrusion into
the pipelines from the city’s fl ooding. Shortly after the storm, we took the diffi cult step of
placing Entergy New Orleans in bankruptcy to protect its customers and ensure continued
progress in restoring power and natural gas service to New Orleans in the aftermath of
Katrina. Within 20 months, however, Entergy New Orleans emerged from bankruptcy with
a plan where all creditors were fully compensated and Entergy New Orleans’ workforce
of approximately 400 employees was unchanged. Both Entergy New Orleans and Entergy
overall emerged from the experience stronger and more resilient.
The tireless efforts of thousands of employees drove our re-emergence. Entergy
employees overcame countless professional and personal challenges, and persevered in
their commitment to stand by New Orleans. Carrying a workload much greater than normal,
employees also had to manage temporary living arrangements, home repairs, school
issues, crime concerns and almost daily fl at tires. Given the necessity of dealing with the
demanding reality at hand, our employees became masters of invention and adaptation.
Following Katrina, Entergy and its charitable foundation donated more than $20 million to
nonprofi t groups that are helping rebuild the physical, intellectual and cultural assets of New
Orleans and the surrounding region. Five years later, the city’s unique spirit is alive and well.
Its population has now stabilized at approximately 70 percent of pre-storm levels, exceeding
initial projections. Customer stabilization at a rate faster than anticipated allowed Entergy
New Orleans to decrease total residential rates by 17 percent since exiting Chapter 11 in
May 2007. Post-Katrina New Orleans is in some ways even better than it was pre-Katrina. It’s
an amazing story that demonstrates anything is possible when people pull together with
determination and passion to achieve a common objective.
Five Years Later in New Orleans
PERSEVERING IN OUR COMMITMENT
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