BATON ROUGE — Facing huge costs for rebuilding its Hurricane Katrina-devastated systems along the Gulf Coast, utility giant Entergy (ETR) said Tuesday that it will consider filing for bankruptcy protection for its New Orleans unit.
Entergy, whose Entergy New Orleans unit has lost up to an estimated 130,000 customers because of the hurricane, estimates the unit's storm-related costs at $325 million to $475 million.
The company put its total estimated costs for repairing and replacing electric and gas facilities damaged by the Aug. 29 storm at $750 million to $1.1 billion.
New Orleans-based Entergy delivers electricity to 2.7 million customers in Arkansas, Louisiana, Mississippi and Texas and provides natural gas to nearly 240,000 customers in Louisiana. [Read more - USA]
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