Presley: Money should be returned

JACKSON — Northern District Public Service Commissioner Brandon Presley (D-Nettleton) said Sept. 24 that the Mississippi Public Service Commission (PSC) should have returned $31.8 million of over-collections by Entergy Mississippi back to customers Oct. 1 rather than allowing the company to hold the funds an additional six months, until April 2010.

Presley said the money was a result of over-collections of fuel adjustment charges paid by Entergy customers from April-July of this year.

In the PSC meeting held Sept. 24, Presley cast the lone vote against Entergy’s request to allow the company to keep the overpayments until April 2010 instead of the usual practice of issuing refunds to customers Oct.1.

Presley said that if the over-collections were returned Oct. 1, the average residential customer would have seen a $10 reduction on his monthly bill. Instead, customers will see only a $1.23 reduction.

“It is a shame that Entergy will be allowed to hold onto $31.8 million of customers’ money for an additional six months while Mississippi families, businesses and industries struggle through some of the worst economic times since the Great Depression. This money came from Entergy’s customers and it ought to be returned to Entergy’s customers now.” Presley said.

Presley said the action yesterday made Mississippi residential, commercial and industrial customers “in effect, Entergy’s banker for the next six months.”