Entergy Provides $3M To Help Vulnerable Customers "Beat the Heat" and Save Money This Summer

Rhea-AI Summary

Entergy has donated $3 million to help low-income customers become more energy efficient and save money on their bills during the severe summer heat. Through the 'Beat the Heat' program, customers received bill payment assistance, fans, energy efficiency kits, home weatherization, and support from local community partners. The company also launched Single Stop, a free program connecting households in need with financial assistance.

Key initiatives include:

• Donating over $2.8 million to The Power to Care program
• Providing 3 million customers access to Single Stop
• Awarding $83,250 in grants for free resources
• Distributing 3,900 free electric fans and 900 energy efficiency kits
• Weatherproofing over 200 low-income homes

Entergy offers various energy efficiency and bill help programs, including the Bill Toolkit website, Power to Care program, and Level Billing option.

Positive

• Donated $3 million to help low-income customers with energy efficiency and bill savings
• Provided 3 million customers with free access to Single Stop, identifying over $61 million in potential financial aid
• Distributed 3,900 free electric fans and 900 energy efficiency kits to customers
• Weatherproofed over 200 low-income homes in underserved communities
• Launched new Bill Toolkit website to help customers manage energy usage and costs

Negative

• None.

Insights

Financial Analyst

Entergy's $3M donation for customer assistance, while commendable from a corporate social responsibility standpoint, is unlikely to significantly impact the company's financial performance or stock price. The amount represents a small fraction of Entergy's annual revenue, which was $13.7 billion in 2022. However, this initiative may indirectly benefit Entergy by reducing bad debt expenses and improving customer relations, potentially leading to lower customer churn in the long term. The program's focus on energy efficiency could also help manage peak demand, potentially reducing infrastructure costs. While the immediate financial impact is minimal, these efforts contribute to Entergy's reputation as a socially responsible utility, which could attract ESG-focused investors.

Energy Policy Expert

Entergy's 'Beat the Heat' program aligns with broader industry trends towards energy equity and affordability. This initiative demonstrates proactive engagement with energy poverty issues, which are increasingly under regulatory scrutiny. By providing efficiency tools and bill assistance, Entergy is mitigating potential regulatory risks associated with disconnections and high bills during extreme weather events. The Single Stop program, reaching $61 million in potential aid, showcases an innovative approach to leveraging existing social programs. This could serve as a model for other utilities, potentially influencing future policy discussions on energy assistance programs. Investors should note that such programs may become more critical as climate change intensifies, possibly leading to increased expectations for utility-led social initiatives.

Through energy bill assistance and essential resources, Entergy has helped customers in need stay safe during the severe summer heat

NEW ORLEANS, LA / ACCESSWIRE / September 19, 2024 / With soaring high temperatures this summer, Entergy donated $3 million to help its low-income customers become more energy efficient and save money on their energy bills. Through Entergy's "Beat the Heat" program, customers received bill payment assistance, fans, energy efficiency kits, home weatherization and invaluable support from local community partners. The company also launched Single Stop, a free program that helps households in need access financial assistance and more.

"We are deeply committed to empowering our customers, especially during challenging times like the summer heat," said Patty Riddlebarger, Entergy's vice president of corporate social responsibility. "Through our ‘Beat the Heat' program and our partnerships with local organizations, we're helping our neighbors stay safe, cool and reduce their energy expenses. We're proud to provide ongoing support to those who need it most in the communities we serve."

For 23 years, Entergy has partnered with local organizations across Arkansas, Louisiana, Mississippi and Texas to ease the burden of hot summer temperatures resulting in increased usage and higher energy costs for our most vulnerable customers. Year after year, this collaborative program provides customers with energy bill assistance, tools and resources, and support during the critical summer months. Through this program the company:

• Donated more than $2.8 million in funds from Entergy shareholders, employees and customers to The Power to Care program, which provides energy bill assistance to older adults and customers with disabilities.

• Provided 3 million customers with free access to Single Stop, an online resource that connects households in need with financial assistance and more. More than 8,000 Entergy customers completed the Single Stop screening, which identified more than $61 million in potential financial aid and other resources.

• Awarded more than $83,250 in grants to vulnerable customers to provide free resources like electric fans and home weatherization kits.

• Donated $25,000 to local organizations that weatherized homes for customers in need.

• Held Entergy Navigators fairs in underserved communities, providing customers with assistance and resources to help manage their bills, energy efficiency kits, pro bono legal aid, Kids to College savings accounts and more.

• Provided more than 3,900 free electric fans to help customers beat high temperatures and save on electricity bills throughout the summer.

• Distributed over 900 energy efficiency kits to customers. The kits included money-saving LED lightbulbs, advanced power strips, bathroom faucet aerators and V-seal weather-stripping.

• Over 200 low-income homes were weatherproofed during neighborhood sweeps that were held in select, underserved communities.

Savings programs and bill help

Entergy offers several energy efficiency and bill help programs, including:

• Our newly launched Bill Toolkit website connects customers to bill management, energy efficiency and financial assistance resources. This new resource helps customers explore simple ways they can lower their electricity use and costs.

• The Power to Care program provides emergency bill payment help to older adults and customers with disabilities.

• Our partnership with Single Stop helps build pathways out of poverty by connecting our customers to available resources in a one-stop site. Single Stop makes it easy for customers to check if they qualify for financial assistance and connects them with opportunities for education, counseling, training and support.

• myAdvisor lets customers track their energy usage and alerts them on how much power they use each day.

• Level Billing allows customers to "level out" spikes in seasonal energy use, making their energy bills more consistent every month.

• Payment arrangements for customers needing flexibility with paying their energy bill.

Entergy is dedicated to ensuring all customers have access to the resources and support they need to stay safe and comfortable year-round. To learn more about our customer assistance programs, visit billtoolkit.entergy.com.

About Entergy

Entergy (NYSE:ETR) is a Fortune 500 company that powers life for 3 million customers through our operating companies in Arkansas, Louisiana, Mississippi and Texas. We're investing in the reliability and resilience of the energy system while helping our region transition to cleaner, more efficient energy solutions. With roots in our communities for more than 100 years, Entergy is a nationally recognized leader in sustainability and corporate citizenship. Since 2018, we have delivered more than $100 million in economic benefits each year to local communities through philanthropy, volunteerism and advocacy. Entergy is headquartered in New Orleans, Louisiana, and has approximately 12,000 employees. Learn more at entergy.com and connect with @Entergy on social media. #WePowerLife

View additional multimedia and more ESG storytelling from Entergy Corporation on 3blmedia.com.

Contact Info:
Spokesperson: Entergy Corporation
Website: https://www.3blmedia.com/profiles/entergy-corporation
Email: info@3blmedia.com

SOURCE: Entergy Corporation

View the original press release on accesswire.com

FAQ

What is Entergy's 'Beat the Heat' program?

Entergy's 'Beat the Heat' program is an initiative that provides bill payment assistance, fans, energy efficiency kits, home weatherization, and support from local community partners to help low-income customers become more energy efficient and save money on their energy bills during severe summer heat.

How much did Entergy donate to help customers with energy costs in summer 2024?

Entergy donated $3 million to help its low-income customers become more energy efficient and save money on their energy bills during the severe summer heat of 2024.

What is Single Stop and how does it help Entergy customers?

Single Stop is a free program launched by Entergy that helps households in need access financial assistance and other resources. It connects customers to available resources in a one-stop site, making it easy for them to check if they qualify for financial assistance and other opportunities.

How many free electric fans did Entergy distribute to customers in summer 2024?

Entergy distributed more than 3,900 free electric fans to help customers beat high temperatures and save on electricity bills throughout the summer of 2024.