Our strategy to achieve our stakeholder objectives has two key aspects.
- First, we invest in the utility for the benefit of our customers, which supports steady, predictable growth in earnings and dividends.
- Second, we manage risks by ensuring our utility investments are customer-centric, supported by progressive regulatory constructs, and executed with disciplined project management.
Entergy Corporation is an integrated energy company engaged primarily in electric power production and retail distribution operations. Entergy owns and operates power plants with approximately 30,000 megawatts of electric generating capacity, including nearly 9,000 megawatts of nuclear power. Entergy delivers electricity to 2.9 million utility customers in Arkansas, Louisiana, Mississippi, and Texas.
Entergy has annual revenues of $11 billion and approximately 13,600 employees.
Entergy’s utility business provides electric retail and wholesale power to customers in four states through five utility operating companies: Entergy Arkansas, LLC; Entergy Louisiana, LLC; Entergy Mississippi, LLC; Entergy New Orleans, LLC; and Entergy Texas, Inc. Entergy also delivers natural gas services to 200,000 customers in New Orleans and parts of Baton Rouge, Louisiana, through two of our utility operating companies.
We are winding down our wholesale generation business, which provides power to wholesale customers primarily from our two remaining nuclear facilities located in the northern United States. Entergy also provides services to Cooper Nuclear Station in Brownville, Nebraska.
Our risk-mitigation strategy for the last several years has included the planned, orderly exit from our merchant business. We have announced the closure and sale of all of our merchant nuclear assets, completing our plan to exit by 2022. To date, we have completed sales of FitzPatrick Nuclear Power Plant (2017), Vermont Yankee Nuclear Power Plant (2019), and Pilgrim Nuclear Power Station (2019). We have agreements for the sale of our two remaining nuclear assets, Indian Point Energy Center and Palisades Nuclear Generating Station, with targets to complete those transactions in 2021 and 2022, respectively.