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September 21, 2005
Buzzard's luck
In the midst of pre-hurricane gasoline and bottled water shortages -- and in anticipation of probable power outages resulting from Hurricane Rita -- this report is not giving me warm and fuzzy feelings:
Facing huge costs for rebuilding its Hurricane Katrina-devastated systems along the Gulf Coast, utility giant Entergy said Tuesday that it will consider filing for bankruptcy protection for its New Orleans unit.Entergy, whose Entergy New Orleans unit has lost up to an estimated 130,000 customers because of the hurricane, estimates the unit's storm-related costs at $325 million to $475 million.
The company put its total estimated costs for repairing and replacing electric and gas facilities damaged by the Aug. 29 storm at $750 million to $1.1 billion.
Entergy is the utility company for a good part of the northern part of the Houston metro area, including The Woodlands.
Posted by Tom at September 21, 2005 09:07 AM
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