The utility says average residential customer will save over $10 per month
LITTLE ROCK, Ark. – Entergy Arkansas’ low-cost power generation portfolio and lower gas prices last year have allowed the company to decrease customer bills beginning with the April billing cycle, the utility said in a news release.
An average residential customer using 1,000 kilowatt-hours (kWh) per month will see a $10.01 decrease in their total bills—a 7.49% decrease. Depending on their usage profile, commercial and industrial customers could see anywhere from a 1.6% to 17.7% decrease.
“Although our rates are consistently lower than the regional and national average, we continue to keep affordability for our customers at the forefront of our decisions,” said Ventrell Thompson, vice president of Entergy Arkansas Customer Service. “The total decrease customers see on their bills will vary based on their individual energy usage but comes at a time when our customers need bill relief and will extend during the upcoming hot summer months.”
The decrease was prompted by a lower fuel rate, known as the Energy Cost Recovery Rider (ECR), which is adjusted and passed on to customers. The redetermined ECR rate will decrease from $0.01883 per kWh to $0.00882 per kWh – the lowest in over a decade.
Each year, the fuel rate adjusts either up or down, depending on changes in the cost of fuel used by Entergy Arkansas to generate electricity and wholesale prices paid for additional electricity. The new rate is effective until March of 2025, unless an interim adjustment is needed. It is reflected in the “Fuel and Purchased Cost” line item on monthly bills.
“Because we have a diverse fuel mix that includes nuclear, natural gas, coal, solar, and hydropower, we are able to produce electricity at the lowest cost possible,” said William Cunningham, director of resource planning. “In fact, our consistently low rates help make our state an attractive place for new and existing businesses to grow and expand.”
More than 71% of our total energy production in 2023 came from clean nuclear energy, while natural gas powered about 15% of our total energy production in 2023. In addition to Entergy Arkansas’ three solar facilities currently in operation — Stuttgart, Chicot, and Searcy (pictured above) – another 530 megawatts of new solar generation will be coming online this year – Walnut Bend (100 MW), West Memphis (180 MW) and Driver Solar (250 MW). Construction of another 400 MW of solar is expected to be completed next year.
Image provided by Entergy Arkansas
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