Entergy 2014 Annual Report Download - page 110


(QWHUJ\&RUSRUDWLRQDQG6XEVLGLDULHV
1RWHVWR)LQDQFLDO6WDWHPHQWV


-XQHVXEMHFWWRUHIXQGVHWWKHSURFHHGLQJIRUKHDULQJSURFHGXUHVDQGWKHQKHOGWKRVHSURFHGXUHVLQDEH\DQFH
SHQGLQJ )(5& GHFLVLRQV LQ WKH SULRU SURGXFWLRQ FRVW SURFHHGLQJV FXUUHQWO\ EHIRUH WKH )(5& RQ UHYLHZ  ,Q
'HFHPEHUWKH)(5&UHVFLQGHGLWVHDUOLHUDEH\DQFHRUGHUDQGFRQVROLGDWHGWKH5DWH)LOLQJZLWKWKH
DQG5DWH)LOLQJVIRUVHWWOHPHQWDQGKHDULQJSURFHGXUHV$SURFHGXUDOVFKHGXOHZDVDGRSWHGLQ)HEUXDU\
DQGDKHDULQJRQWKHPHULWVLVVFKHGXOHGIRU1RYHPEHU

5DWH)LOLQJ%DVHGRQ&DOHQGDU<HDU3URGXFWLRQ&RVWV

 ,Q 0D\  (QWHUJ\ ILOHG ZLWK WKH )(5& WKH  UDWHV LQ DFFRUGDQFH ZLWK WKH )(5&¶V RUGHUV LQ WKH 
6\VWHP$JUHHPHQW SURFHHGLQJ  6HYHUDO SDUWLHV LQWHUYHQHG LQ WKHSURFHHGLQJ DW WKH )(5& LQFOXGLQJ WKH /36&
ZKLFK DOVRILOHG D SURWHVW 7KH &LW\ &RXQFLO LQWHUYHQHG DQG ILOHGFRPPHQWVUHODWHGWRLQFOXGLQJWKHRXWFRPHRID
UHODWHG )(5& SURFHHGLQJ LQ WKH  FRVW HTXDOL]DWLRQ FDOFXODWLRQ  ,Q$XJXVW  WKH )(5& LVVXHGDQ RUGHU
DFFHSWLQJWKHUDWHVHIIHFWLYH-XQH VXEMHFWWRUHIXQGVHWWKHSURFHHGLQJIRUKHDULQJSURFHGXUHVDQG
WKHQKHOGWKRVHSURFHGXUHVLQDEH\DQFHSHQGLQJ)(5&GHFLVLRQVLQWKHSULRUSURGXFWLRQFRVWSURFHHGLQJVFXUUHQWO\
EHIRUHWKH)(5&RQUHYLHZ,Q'HFHPEHUWKH)(5&UHVFLQGHGLWVHDUOLHUDEH\DQFHRUGHUDQGFRQVROLGDWHGWKH
5DWH)LOLQJZLWKWKHDQG5DWH)LOLQJVIRUVHWWOHPHQWDQGKHDULQJSURFHGXUHV$SURFHGXUDO
VFKHGXOHZDVDGRSWHGLQ)HEUXDU\DQGDKHDULQJRQWKHPHULWVLVVFKHGXOHGIRU1RYHPEHU
5DWH)LOLQJ%DVHGRQ&DOHQGDU<HDU3URGXFWLRQ&RVWV

 ,Q 0D\  (QWHUJ\ ILOHG ZLWK WKH )(5& WKH  UDWHV LQ DFFRUGDQFH ZLWK WKH )(5&¶V RUGHUV LQ WKH 
6\VWHP$JUHHPHQW SURFHHGLQJ  6HYHUDO SDUWLHV LQWHUYHQHG LQ WKHSURFHHGLQJ DW WKH )(5& LQFOXGLQJ WKH /36&
ZKLFKDOVRILOHGD SURWHVW7KH&LW\&RXQFLOLQWHUYHQHGDQGILOHGFRPPHQWV,Q'HFHPEHUWKH)(5&LVVXHG
DQ RUGHU DFFHSWLQJ WKH  UDWHV HIIHFWLYH -XQH   VXEMHFW WR UHIXQG VHW WKH SURFHHGLQJ IRU KHDULQJ
SURFHGXUHVDQGFRQVROLGDWHGWKH5DWH)LOLQJZLWKWKHDQG5DWH)LOLQJVIRUVHWWOHPHQWDQG
KHDULQJSURFHGXUHV$SURFHGXUDOVFKHGXOHZDVDGRSWHGLQ)HEUXDU\DQGDKHDULQJRQWKHPHULWVLVVFKHGXOHG
IRU1RYHPEHU

Interruptible Load Proceeding

,Q$SULOWKH86&RXUWRI$SSHDOVIRUWKH'&&LUFXLWLVVXHGLWVRSLQLRQLQWKH/36&¶VDSSHDORIWKH
)(5&¶V 0DUFK  DQG$SULO  RUGHUV UHODWHG WR WKH WUHDWPHQW XQGHU WKH 6\VWHP$JUHHPHQW RI WKH 8WLOLW\
RSHUDWLQJ FRPSDQLHV¶ LQWHUUXSWLEOH ORDGV ,Q LWV RSLQLRQ WKH '& &LUFXLW FRQFOXGHG WKDW WKH )(5&  DFWHG
DUELWUDULO\DQGFDSULFLRXVO\E\DOORZLQJWKH8WLOLW\RSHUDWLQJFRPSDQLHVWRSKDVHLQWKHHIIHFWVRIWKHHOLPLQDWLRQRI
WKHLQWHUUXSWLEOH ORDGRYHU D PRQWKSHULRG RI WLPH  IDLOHG WR DGHTXDWHO\ H[SODLQ ZK\ UHIXQGV FRXOG QRW EH
RUGHUHG XQGHU 6HFWLRQ F RI WKH )HGHUDO 3RZHU $FW DQG  H[HUFLVHG DSSURSULDWHO\ LWV GLVFUHWLRQ WR GHIHU
DGGUHVVLQJ WKH FRVW RI VXOIXU GLR[LGH DOORZDQFHV XQWLO D ODWHU WLPH 7KH '& &LUFXLW UHPDQGHG WKH PDWWHU WR WKH
)(5& IRU D PRUH FRQVLGHUHG GHWHUPLQDWLRQ RQ WKH LVVXH RI UHIXQGV 7KH )(5& LVVXHG LWV RUGHU RQ UHPDQG LQ
6HSWHPEHULQZKLFKLWGLUHFWHG(QWHUJ\WRPDNHDFRPSOLDQFHILOLQJUHPRYLQJDOOLQWHUUXSWLEOHORDGIURPWKH
FRPSXWDWLRQRISHDNORDGUHVSRQVLELOLW\FRPPHQFLQJ$SULODQGWRLVVXHDQ\QHFHVVDU\UHIXQGVWRUHIOHFWWKLV
FKDQJH,QDGGLWLRQWKHRUGHUGLUHFWHGWKH8WLOLW\RSHUDWLQJFRPSDQLHVWRPDNHUHIXQGVIRU WKHSHULRG0D\
WKURXJK-XO\,Q1RYHPEHUWKH8WLOLW\RSHUDWLQJFRPSDQLHVILOHGDUHIXQGUHSRUWGHVFULELQJWKHUHIXQGV
WREHLVVXHGSXUVXDQWWRWKH)(5&¶V RUGHUV7KH/36&ILOHGDSURWHVWWRWKHUHIXQGUHSRUWLQ'HFHPEHUDQG
WKH8WLOLW\RSHUDWLQJFRPSDQLHVILOHGDQDQVZHUWRWKHSURWHVWLQ-DQXDU\7KHUHIXQGVZHUHPDGHLQ2FWREHU
 E\ WKH 8WLOLW\ RSHUDWLQJ FRPSDQLHV WKDW RZHG UHIXQGV WR WKH 8WLOLW\ RSHUDWLQJ FRPSDQLHV WKDW ZHUH GXH D
UHIXQGXQGHUWKHGHFLVLRQ7KH$36&DQGWKH8WLOLW\RSHUDWLQJFRPSDQLHVDSSHDOHGWKH)(5&GHFLVLRQVWRWKH'&
&LUFXLW7KHUHIXQGVZHUHPDGHLQWKHIRXUWKTXDUWHU

)ROORZLQJWKHILOLQJRISHWLWLRQHUV¶LQLWLDOEULHIVWKH)(5&ILOHGDPRWLRQUHTXHVWLQJWKH'&&LUFXLWKROG
WKHDSSHDO RIWKH)(5&¶V GHFLVLRQV RUGHULQJUHIXQGVLQWKH LQWHUUXSWLEOHORDGSURFHHGLQJLQDEH\DQFHDQG UHPDQG
WKHUHFRUGWRWKH)(5&7KH'&&LUFXLWJUDQWHGWKH)(5&¶VXQRSSRVHGPRWLRQLQ-XQH,Q'HFHPEHU
WKH)(5&HVWDEOLVKHGDSDSHUKHDULQJWRGHWHUPLQHZKHWKHUWKH)(5&KDGWKHDXWKRULW\DQGLIVRZKHWKHULWZRXOG
EHDSSURSULDWH WRRUGHU UHIXQGV UHVXOWLQJ IURP FKDQJHV LQWKH WUHDWPHQW RI LQWHUUXSWLEOH ORDG LQ WKH DOORFDWLRQ RI
FDSDFLW\FRVWVE\WKH8WLOLW\RSHUDWLQJFRPSDQLHV,Q$XJXVWWKH)(5&LVVXHGDQRUGHUVWDWLQJWKDWLWKDVWKH
