-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, JeJRslBPovLgJ1yZDZ5Va5L6HZ4594TcB66ahGGOxYU0ihW2496zdY8c2JT6EmO5 QOHUfPKpjxj4TWJ/pj0UDg== 0000071508-98-000005.txt : 19980430 0000071508-98-000005.hdr.sgml : 19980430 ACCESSION NUMBER: 0000071508-98-000005 CONFORMED SUBMISSION TYPE: 8-K/A PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19980428 ITEM INFORMATION: FILED AS OF DATE: 19980429 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: ENTERGY NEW ORLEANS INC CENTRAL INDEX KEY: 0000071508 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC & OTHER SERVICES COMBINED [4931] IRS NUMBER: 720273040 STATE OF INCORPORATION: LA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K/A SEC ACT: SEC FILE NUMBER: 000-05807 FILM NUMBER: 98604504 BUSINESS ADDRESS: STREET 1: 639 LOYOLA AVE CITY: NEW ORLEANS STATE: LA ZIP: 70113 BUSINESS PHONE: 5045953100 MAIL ADDRESS: STREET 1: PO BOX 60340 CITY: NEW ORL STATE: LA ZIP: 70160 FORMER COMPANY: FORMER CONFORMED NAME: NEW ORLEANS PUBLIC SERVICE INC DATE OF NAME CHANGE: 19920703 8-K/A 1 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K/A CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date earliest event reported) April 28, 1998 Commission Registrant, State of Incorporation, I.R.S. Employer File Number Address and Telephone Number Identification No. 0-5807 ENTERGY NEW ORLEANS, INC. 72-0273040 (a Louisiana corporation) 639 Loyola Avenue New Orleans, Louisiana 70113 Telephone (504) 529-5262 Item 5. of the Form 8-K of Entergy New Orleans, Inc., filed on April 28, 1998, is hereby further amended in its entirety and restated to read as follows: Item 5. Other Information Entergy New Orleans, Inc. For the quarter ended March 31, 1998, Entergy New Orleans, Inc. (the "Company") reported a loss of $1.1 million. The first quarter results are primarily attributable to a decrease in electric and gas rates, which occurred pursuant to a settlement agreement between the Company and the New Orleans City Council in July 1997. This settlement reflected an $18 million annual base rate reduction, of which $17 million was allocated to electric rates and $1 million was allocated to gas rates. In the first quarter of 1998, electric base rate revenues declined by $3.5 million. In addition, fuel cost recovery (which does not affect net income) fell by $5.6 million and the effect of weather on electric sales volume resulted in a $1.7 million revenue decline. Other electric revenue fell by $0.2 million due primarily to a $1.6 million write-off of unrecoverable receivables, while electric sales for resale increased by $1.9 million due to increased sales to affiliate companies. Gas operating revenues declined by $2.2 million for the first quarter of 1998 compared to the same period in 1997, due to the lower unit purchase price of gas purchased for resale (which does not affect net income). On a combined basis, these factors produced an overall revenue decline for the Company of $11.3 million in the first quarter of 1998. The Company's operating expenses for the first quarter of 1998 declined by approximately $4.4 million from the same quarter in the prior year, primarily due to decreases in fuel and purchased power costs. These decreases were partially offset by increases in other operations and maintenance expense and greater fuel purchases to meet increased generation requirements. Other regulatory credits (which serve to offset operating expenses) increased by about $2.0 million primarily as a result of the net under-recovery of Grand Gulf 1 related costs in the first quarter of 1998 compared to the net over-recovery of such costs in the first quarter of 1997. Income tax expense dropped in the first quarter of 1998 to $62,000 from $2.2 million for the comparable period in 1997, as a result of the net loss in 1998, offset by an increased reversal of previously recorded AFUDC amounts included in depreciation. SIGNATURE Pursuant to the requirements of the Securities Exchange Act 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ENTERGY NEW ORLEANS, INC. By: /s/ Michael G. Thompson Michael G. Thompson Senior Vice President and General Counsel Dated: April 29, 1998 -----END PRIVACY-ENHANCED MESSAGE-----