Entergy Corporation (ETR): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el panorama dinámico de la transformación energética, Entergy Corporation (ETR) surge como una potencia de innovación y excelencia estratégica, aprovechando su lienzo de modelo comercial integral para navegar por el complejo mundo de la generación y distribución de electricidad. Al combinar sin problemas, las fuentes de energía nuclear, renovable y tradicional, Entergy ha creado un marco robusto que no solo garantiza un suministro de electricidad confiable, sino que también defiende la transición crítica hacia soluciones de energía más limpias y sostenibles para clientes residenciales, comerciales e industriales en múltiples estados.

Entergy Corporation (ETR) - Modelo de negocio: asociaciones clave

Operadores y reguladores de la planta de energía nuclear

Entergy Corporation mantiene asociaciones críticas con las siguientes entidades regulatorias y operativas nucleares:

Organización asociada	Detalles de la asociación	Valor de colaboración anual
Comisión Reguladora Nuclear (NRC)	Cumplimiento regulatorio y supervisión de seguridad	$ 12.5 millones en inversiones de cumplimiento
Consejo de confiabilidad eléctrica de Texas (ERCOT)	Integración de la cuadrícula y transmisión de energía	$ 45 millones en acuerdos operativos

Proveedores de tecnología de energía renovable

La cartera de asociaciones de energía renovable de Entergy incluye:

• Primera colaboración de tecnología de panel solar - panel solar
• Vestas Wind Systems - Asociación de tecnología de turbinas eólicas
• General Electric Renewable Energy - Infraestructura renovable a escala de cuadrícula

Proveedor de tecnología	Monto de la inversión	Capacidad renovable
Primero solar	$ 78 millones	Capacidad solar de 150 MW
Sistemas de viento de Vestas	$ 95 millones	Capacidad eólica de 200 MW

Proveedores de equipos de infraestructura de cuadrícula y transmisión

Las asociaciones clave de infraestructura incluyen:

• Grupo ABB - Equipo de transmisión
• Siemens Energy - Tecnologías de modernización de la cuadrícula
• Schneider Electric - soluciones de cuadrícula inteligente

Proveedor	Valor de contrato	Impacto de infraestructura
Grupo ABB	$ 62 millones	Sistemas de transmisión de alto voltaje
Energía de Siemens	$ 87 millones	Actualizaciones de confiabilidad de la cuadrícula

Agencias de energía del gobierno estatal y local

Entergy colabora con departamentos de energía a nivel estatal en sus regiones operativas:

• Comisión de Servicio Público de Louisiana
• Comisión de Servicio Público de Mississippi
• Comisión de Servicio Público de Arkansas
• Comisión de servicios públicos de Texas

Organizaciones de conservación ambiental y sostenibilidad

Asociaciones ambientales estratégicas:

• La conservación de la naturaleza
• Fondo de Defensa Ambiental
• Fondo Mundial de Vida Silvestre

Organización	Inversión de sostenibilidad	Impacto ambiental
La conservación de la naturaleza	$ 5.2 millones	Proyectos de restauración de hábitat
Fondo de Defensa Ambiental	$ 3.8 millones	Iniciativas de reducción de carbono

Entergy Corporation (ETR) - Modelo de negocio: actividades clave

Generación de energía eléctrica en múltiples estados

Entergy Corporation genera aproximadamente 30,000 megavatios de electricidad en 5 estados: Louisiana, Texas, Mississippi, Arkansas y New Hampshire.

Estado	Capacidad de generación (MW)	Porcentaje de generación total
Luisiana	10,500	35%
Texas	8,200	27.3%
Misisipí	6,500	21.7%
Arkansas	3,800	12.7%
New Hampshire	1,000	3.3%

Operaciones y mantenimiento de la planta de energía nuclear

Entergy opera 4 centrales nucleares con una capacidad total de generación nuclear de 3.937 megavatios.

• Estación de River Bend (Louisiana): 1.129 MW
• Estación Nuclear Grand Gulf (Mississippi): 1,448 MW
• Arkansas Nuclear One (Arkansas): 1.360 MW

Desarrollo e integración de energía renovable

A partir de 2024, Entergy ha invertido $ 1.2 mil millones en proyectos de energía renovable.

Tipo de energía renovable	Capacidad instalada (MW)	Inversión ($ m)
Solar	450	540
Viento	320	380
Biomasa	120	180

Gestión y modernización de la infraestructura de la cuadrícula

Entergy ha comprometido iniciativas de modernización de $ 3.5 mil millones entre 2022-2026.

• Inversiones de tecnología de cuadrícula inteligente: $ 850 millones
• Actualizaciones de la línea de transmisión: $ 1.2 mil millones
• Infraestructura de ciberseguridad: $ 450 millones

Programas de eficiencia energética del cliente

Entergy ha asignado $ 180 millones para programas de eficiencia energética en 2024.

Tipo de programa	Asignación de presupuesto ($ M)	Ahorros de energía esperados (MWH)
Programas residenciales	75	220,000
Programas comerciales	65	180,000
Programas industriales	40	110,000

Entergy Corporation (ETR) - Modelo de negocio: recursos clave

Instalaciones de generación de energía nuclear

Entergy opera 4 centrales nucleares con una capacidad de generación total de 3.322 MW:

Planta nuclear	Ubicación	Capacidad (MW)
Estación nuclear del Gran Golfo	Misisipí	1,443
Estación de River Bend	Luisiana	936
Waterford 3	Luisiana	1,131
ANO Unidad 2	Arkansas	812

Diversos activos de generación de energía

Portafolio de generación total a partir de 2023:

• Nuclear: 31%
• Gas natural: 41%
• Carbón: 12%
• Renovables: 16%

Infraestructura de transmisión y distribución

Métricas de infraestructura de Entergy:

Componente de infraestructura	Cantidad
Líneas de transmisión	18,700 millas
Líneas de distribución	29,300 millas
Subestaciones	972

Composición de la fuerza laboral

Total de empleados: 13,300 a partir de 2023

• Personal técnico: 42%
• Profesionales de ingeniería: 18%
• Personal de operaciones: 25%
• Personal administrativo: 15%

Activos tecnológicos

Inversión de tecnologías de gestión de cuadrículas avanzadas: $ 287 millones en 2023

• Infraestructura de cuadrícula inteligente
• Sistemas de medición avanzados
• Plataformas de ciberseguridad
• Tecnologías de mantenimiento predictivo

Entergy Corporation (ETR) - Modelo de negocio: propuestas de valor

Suministro de electricidad confiable y consistente

Entergy atiende a aproximadamente 3 millones de clientes eléctricos en Arkansas, Louisiana, Mississippi y Texas. En 2022, la compañía generó 35.830 gigavatios-hora de electricidad.

Región de servicio	Base de clientes	Generación de electricidad anual
Arkansas	686,000 clientes	8,957 GWH
Luisiana	1,095,000 clientes	14,332 GWH
Misisipí	448,000 clientes	5.726 GWH
Texas	771,000 clientes	6.815 gwh

Compromiso con la transición de energía limpia

Entergy se ha comprometido a lograr emisiones de carbono neto-cero para 2050. La mezcla de generación actual incluye:

• Nuclear: 28%
• Gas natural: 44%
• Renovables: 12%
• Carbón: 16%

Infraestructura de energía resistente

Inversión en modernización de la red: $ 1.8 mil millones asignados para mejoras de infraestructura en 2022-2024.

Precios de electricidad competitivos

Tasa de electricidad residencial promedio: $ 0.11 por kWh, que es un 6% por debajo del promedio nacional.

Soluciones de energía avanzada

Servicio	Clientes	Ingresos anuales
Programas solares residenciales	12.500 participantes	$ 45 millones
Gestión de energía comercial	870 clientes comerciales	$ 78 millones
Infraestructura de carga de vehículos eléctricos	350 estaciones de carga	$ 12 millones

Entergy Corporation (ETR) - Modelo de negocios: relaciones con los clientes

Plataformas de servicio al cliente digital

Entergy opera una plataforma integral de servicio al cliente digital con las siguientes métricas clave:

Métrica de plataforma digital	Datos específicos
Usuarios de aplicaciones móviles	1.2 millones de usuarios activos
Penetración de gestión de cuentas en línea	68% de la base total de clientes
Tiempo de resolución de servicio digital promedio	23 minutos

Consultas personalizadas de eficiencia energética

Entergy ofrece servicios específicos de eficiencia energética:

• Auditorías de energía para el hogar gratis para clientes residenciales
• Programa de consulta de eficiencia energética comercial
• Inversión anual en programas de eficiencia energética: $ 42.3 millones

Comunicación proactiva durante las interrupciones de poder

La infraestructura de comunicación incluye:

Canal de comunicación	Alcanzar
SMS de notificación de interrupción	Cobertura del 95%
Sitio web de seguimiento de interrupciones en tiempo real	Mapa interactivo con datos de ubicación precisos
Tiempo de respuesta de comunicación de salida promedio	12 minutos

Facturación en línea y gestión de cuentas

Características de la plataforma de facturación digital:

• Tasa de adopción de pago de facturas en línea: 76%
• Participantes de facturación sin papel: 52% de los clientes
• Transacciones en línea mensuales promedio: 1.4 millones

Programas de compromiso y apoyo de la comunidad

Métricas de apoyo comunitario:

Programa	Inversión anual
Programa de asistencia al cliente	$ 18.7 millones
Asistencia energética de bajos ingresos	$ 12.4 millones
Subvenciones de desarrollo comunitario	$ 5.6 millones

Entergy Corporation (ETR) - Modelo de negocio: canales

Portal web en línea

Entergy opera un portal web en línea en www.entergy.com con 2.9 millones de cuentas de usuario registradas a partir de 2023. El portal procesa aproximadamente 1.2 millones de pagos mensuales de facturas y maneja 687,000 solicitudes de servicio en línea anualmente.

Métricas del portal web	Estadísticas anuales
Usuarios registrados	2.9 millones
Pagos de facturas mensuales	1.2 millones
Solicitudes de servicio en línea	687,000

Aplicaciones de teléfonos inteligentes móviles

La aplicación móvil de Entergy tiene 1.1 millones de usuarios activos, con una compatibilidad del 92% en las plataformas de iOS y Android. La aplicación procesa 456,000 transacciones mensuales.

Centros de llamadas de servicio al cliente

Entergy opera 4 centros de llamadas principales con 1.200 representantes de servicio al cliente. El volumen anual de llamadas alcanza 6.2 millones de interacciones de clientes, con un tiempo de respuesta promedio de 3.7 minutos.

Métricas del centro de llamadas	Datos anuales
Centros de llamadas	4
Representantes de servicio al cliente	1,200
Interacciones anuales del cliente	6.2 millones

Centros de servicio físico local

Entergy mantiene 22 centros de servicios físicos en Louisiana, Mississippi, Arkansas y Texas. Estos centros procesan aproximadamente 340,000 transacciones en persona anualmente.

Equipos directos de ventas y marketing

Entergy emplea a 180 representantes de ventas directas dirigidas a clientes comerciales e industriales. El equipo de ventas genera $ 487 millones en ingresos anuales a través de adquisiciones comerciales directas.

• Tamaño del equipo de ventas: 180 representantes
• Ingresos anuales de ventas directas: $ 487 millones
• Segmentos objetivo: clientes comerciales e industriales

Entergy Corporation (ETR) - Modelo de negocio: segmentos de clientes

Consumidores de electricidad residencial

Entergy atiende a aproximadamente 2.9 millones de clientes eléctricos en Arkansas, Louisiana, Mississippi y Texas.

Estado	Número de clientes residenciales	Factura mensual promedio
Arkansas	679,000	$126.50
Luisiana	1,104,000	$136.75
Misisipí	448,000	$132.25
Texas	668,000	$141.60

Negocios comerciales e industriales

Entergy atiende a 183,000 clientes comerciales e industriales en sus territorios de servicio.

• Los grandes clientes comerciales representan el 42% de las ventas totales de electricidad
• El sector industrial representa el 28% del consumo total de electricidad
• Gasto de electricidad anual promedio para clientes comerciales: $ 58,340

Entidades municipales y gubernamentales

Entergy brinda electricidad a 212 clientes municipales y gubernamentales.

Tipo de cliente	Número de clientes	Consumo anual de energía (MWH)
Servicios públicos municipales	137	3,450,000
Instalaciones gubernamentales	75	1,280,000

Sector agrícola

Entergy atiende a 15.600 clientes agrícolas en su región de servicio.

• Consumo promedio de electricidad mensual: 18,750 kWh
• Ventas de electricidad agrícola total total: $ 289 millones

Usuarios de energía industrial a gran escala

Entergy admite 1,247 clientes industriales a gran escala.

Segmento de la industria	Número de clientes	Consumo anual de energía (MWH)
Petroquímico	387	12,450,000
Fabricación	542	8,760,000
Refinación	218	6,540,000
Otros industriales	100	2,340,000

Entergy Corporation (ETR) - Modelo de negocio: estructura de costos

Mantenimiento de infraestructura de generación de energía

Para el año fiscal 2023, Entergy Corporation reportó gastos de mantenimiento total de $ 1.24 mil millones. El desglose de los costos de mantenimiento de la infraestructura incluye:

Categoría de mantenimiento	Costo ($ M)
Mantenimiento de la planta de energía nuclear	672
Mantenimiento de la planta de combustible fósil	385
Mantenimiento de infraestructura de transmisión	183

Adquisición y gestión de combustible

Los costos de adquisición de combustible de Entergy para 2023 totalizaron $ 987 millones, con la siguiente distribución:

• Adquisición de combustible nuclear: $ 456 millones
• Adquisición de gas natural: $ 385 millones
• Adquisición de carbón: $ 146 millones

Gastos de cumplimiento regulatorio

Los costos de cumplimiento regulatorio para Entergy en 2023 ascendieron a $ 312 millones, que incluyen:

Área de cumplimiento	Costo ($ M)
Regulaciones ambientales	187
Cumplimiento de seguridad nuclear	95
Cumplimiento de seguridad de la cuadrícula	30

Inversiones de investigación y desarrollo

Entergy asignado $ 78 millones A iniciativas de investigación y desarrollo en 2023, centrándose en:

• Tecnologías de energía renovable: $ 35 millones
• Modernización de la cuadrícula: $ 27 millones
• Soluciones de eficiencia energética: $ 16 millones

Compensación y capacitación de empleados

Los gastos totales relacionados con los empleados para Entergy en 2023 fueron $ 1.1 mil millones, estructurado de la siguiente manera:

Categoría de gastos	Costo ($ M)
Salarios base	682
Beneficios y seguro	258
Capacitación y desarrollo profesional	160

Entergy Corporation (ETR) - Modelo de negocios: flujos de ingresos

Ventas de electricidad a clientes residenciales

En 2022, Entergy Corporation informó ingresos por electricidad residencial de $ 5.92 mil millones. La tasa promedio de electricidad residencial fue de 12.43 centavos por kilovatio-hora en sus territorios de servicio.

Segmento de clientes	Ingresos anuales	Tasa promedio
Clientes residenciales	$ 5.92 mil millones	12.43 centavos/kWh

Contratos de energía comercial e industrial

Las ventas de electricidad comercial e industrial generaron $ 4.67 mil millones en ingresos para Entergy en 2022.

• Grandes contratos comerciales: $ 2.83 mil millones
• Acuerdos de energía industrial: $ 1.84 mil millones

Ventas de crédito de energía renovable

Las ventas de crédito de energía renovable totalizaron $ 127 millones en 2022, lo que representa el 0.9% de los flujos de ingresos totales.

Tasas de transmisión y distribución de la cuadrícula

Las tarifas de transmisión y distribución representaron $ 1.45 mil millones en 2022.

Categoría de tarifa	Ingresos anuales
Tarifas de transmisión	$ 892 millones
Tarifas de distribución	$ 558 millones

Ingresos del programa de eficiencia energética

Los ingresos del programa de eficiencia energética fueron de $ 76 millones en 2022, derivados de iniciativas de eficiencia ordenadas por el estado.

Ingresos anuales totales para Entergy Corporation en 2022: $ 14.23 mil millones

Entergy Corporation (ETR) - Canvas Business Model: Value Propositions

You're looking at the core promises Entergy Corporation (ETR) makes to its stakeholders, grounded in their late 2025 strategic execution. These aren't just goals; they are backed by significant capital deployment and operational metrics right now.

Reliable and resilient electric service for 3 million customers

Entergy Corporation produces, transmits, and distributes electricity to power life for approximately 3 million customers across its operating companies in Arkansas, Louisiana, Mississippi, and Texas. To ensure this service is reliable and resilient, the company has a capital plan that includes over $16 billion dedicated to transmission and distribution upgrades through 2028. For example, Entergy Texas is executing on a $137 million investment specifically for projects designed to strengthen the Southeast Texas power grid and reduce storm-related outages.

Clean energy transition via investments in renewables and modern gas

Entergy is actively accelerating its clean energy transition, targeting the addition of more than 5,000 megawatts of solar power capacity by the end of 2028. As a recent milestone, five new solar resources were added in 2024, bringing over 700 megawatts of clean energy capacity online. To balance this renewable expansion with reliability needs driven by industrial growth, Entergy is investing in modern natural gas generation. The Orange County Advanced Power Station, a modern generation source, is about 70% complete and on schedule for a summer 2025 in-service date. Furthermore, Entergy Arkansas submitted an application for the Jefferson Power Station, a 754-megawatt combined cycle gas turbine facility.

Economic development support with certified, shovel-ready sites

Entergy's economic development efforts are translating directly into massive capital inflows for the Gulf South region. In 2024 alone, Entergy helped secure more than $47 billion in capital investments, which is projected to create approximately 5,445 new direct jobs. The company has secured major commitments, including hyperscale data center projects with Meta and Amazon in Louisiana and Mississippi, respectively. Entergy has been recognized by Site Selection Magazine as a Top Utility in economic development for the 18th consecutive year.

Here's a look at some of the major capital investments the economic development teams have helped secure over the last 18 years:

Customer/Project Type	Capital Investment Amount
Amazon Web Services	$10 billion
Meta	$10 billion
Sempra	$13 billion
Hyundai	$5.8 billion
DG Fuels	$3.1 billion
CF Industries	$4 billion

Improved customer experience, achieving first-quartile Net Promoter Score

Entergy measures customer experience through the Net Promoter Score (NPS), which is incorporated into the annual incentive program. For 2025, the framework for incentive compensation was refined to incorporate large commercial and industrial customer feedback, weighted equally with residential and business customer feedback components. The company is focused on delivering service that meets the expectations of its growing customer base, including large industrial users.

Long-term rate affordability through efficient new generation

Entergy is executing a total capital plan of $37 billion in generation, transmission, and distribution from 2025 through 2028 to support growth while managing costs. This investment in efficient technologies is key to affordability. For instance, in Texas, Entergy Texas rates were reported to be about 17% below the national average last year. Furthermore, specific large customer agreements are structured to benefit all ratepayers; for example, Meta's contributions in Louisiana are projected to save customers approximately $650 million over 15 years, which is expected to lower customer storm charges by an average of about 10%. The utility business reported earnings of $810 million for the third quarter of 2025, driven in part by regulatory actions and higher retail sales volume.

Here's a quick look at the scale of investment supporting this value proposition:

• Total Capital Plan (2025-2028): $37 billion
• Entergy Texas Rate vs. National Average: 17% below
• Projected Customer Savings from Meta Agreement: $650 million over 15 years
• Q3 2025 Utility Business Earnings: $810 million

Entergy Corporation (ETR) - Canvas Business Model: Customer Relationships

You're looking at how Entergy Corporation (ETR) manages its connection with the millions of customers it powers across Arkansas, Louisiana, Mississippi, and Texas. For a regulated utility, this relationship is built on compliance, proactive service, and community investment, all while managing rate expectations.

Regulated relationship managed through Formula Rate Plans (FRPs)

The core of the regulated relationship involves securing approvals for cost recovery and rate adjustments from state commissions. This is formalized through mechanisms like the Formula Rate Plan (FRP). As of late 2025, Entergy New Orleans, Entergy Louisiana, and Entergy Arkansas each filed their annual formula rate plans in the second quarter of 2025. Furthermore, the Mississippi Public Service Commission (MPSC) approved Entergy Mississippi's formula rate plan.

For example, Entergy Arkansas, LLC filed its 2025 Formula Rate Plan on July 7, 2025, requesting a Rider FRP Revenue Change and Rate Adjustment totaling $92.3 million. This proposed adjustment breaks down across customer classes:

RATE CLASS	2026 FRP REVENUE CHANGE	ANNUAL PERCENTAGE CHANGE
Residential	$43,462,112	4.1%
Small General Service	$22,717,879	4.1%
Large General Service	$24,389,981	3.6%
Lighting	$1,736,490	3.9%

Separately, Entergy Texas received approval to place $188 million of distribution investments into rates through the Distribution Cost Recovery Factor (DCRF) rider in the second quarter of 2025.

Dedicated economic development team for large industrial customers

The economic development team is actively securing major industrial load, which is critical for the company's growth outlook. Site Selection Magazine named Entergy a Top Utility in economic development for the 18th consecutive year as of October 2025. This focus is paying off; in 2024, Entergy helped secure more than $47 billion in capital investments and create approximately 5,445 new direct jobs. The company projects industrial sales to grow at a compound annual rate of 12% to 13% from 2024 through 2028. This growth is heavily influenced by large data center customers. Examples of major capital investments secured include:

• Amazon Web Services: $10 billion
• Meta: $10 billion
• Sempra: $13 billion
• Hyundai: $5.8 billion

The company plans to invest $37 billion in generation, transmission, and distribution from 2025 through 2028, partly to support this customer demand.

Proactive storm response and resilience communication

Customer trust hinges on rapid restoration after severe weather events. Following Hurricane Francine in September 2024, which disrupted service for about 316,000 customers, Entergy restored 100 percent of customers who could safely receive power within four days. After Hurricane Beryl in July 2024, power was restored to approximately 90 percent of customers who could safely receive power within five days. Entergy Texas is investing $137 million over three years in its resiliency plan, projected to reduce outage durations by 1 billion minutes over 50 years. The company also secured nearly $54 million in federal funding through the Department of Energy's Grid Resilience and Innovation Partnerships (GRIP) program for upgrades. Over the last 25 years, the Edison Electric Institute (EEI) has given Entergy 48 Emergency Response Awards.

Community engagement, delivering over $100 million in annual economic benefits

Entergy Corporation consistently reports delivering more than $100 million in economic benefits each year to the communities it serves through philanthropy, volunteerism, and advocacy. For the full year 2024, the economic impact was reported at over $153 million for customers and communities. This included shareholder-funded charitable contributions of $18.23 million in 2024. Employee dedication also plays a role; in 2024, employees contributed more than 122,000 hours of volunteer service, valued at more than $4 million. For the tenth consecutive year, Entergy was named to The Civic 50, recognizing the 50 most community-minded companies in the U.S.

Digital self-service options for billing and outage reporting

Entergy utilizes technology to enhance customer interaction for routine tasks like billing and outage reporting. The company is focused on providing these digital channels to its 3 million customers.

Entergy Corporation (ETR) - Canvas Business Model: Channels

You're looking at how Entergy Corporation (ETR) physically and digitally connects with its 3 million electric customers across its service territory. This is the nuts and bolts of getting power to the people and businesses that need it.

The primary channel is the physical infrastructure itself, which is vast and complex.

• Physical transmission and distribution grid across a 90,117 square mile service area.
• Operates and maintains equipment along more than 107,000 circuit miles of distribution lines.
• Owns 16,100 circuit miles of interconnected high-voltage transmission lines.
• Serves customers across Arkansas, Louisiana, Mississippi, and Texas.

Here's a quick look at the customer distribution across those regulated utilities:

Utility Operating Company	Electric Retail Customers
Entergy Louisiana	1,100,000
Entergy Texas	524,000
Entergy Arkansas	735,000
Entergy Mississippi	459,000
Entergy New Orleans	209,000

The digital channels are key for self-service and account management. You can manage your account online or on the go.

• Online customer portals and mobile applications for service, accessible via entergy.com and the free Entergy app on the App Store or Google Play.
• The myEntergy account allows you to Report an outage, Make a payment, Login or sign up, and access Account support.
• Portals include sections for Billing and payments, Outage information, Usage tracking, and Service requests.

For large energy users, the connection is more direct, involving dedicated teams focused on growth and infrastructure planning.

Direct sales and economic development teams work to secure major load additions, which is a big deal for future revenue stability. The pipeline for this growth is strong; for instance, the agreement for power island equipment for potential data centers was recently increased by an additional 4.5 gigawatts. This expected regional economic expansion fuels projections of 6% to 7% retail sales compound annual growth through 2028. To support this, Entergy Corporation and Subsidiaries updated its four-year capital plan to invest $37 billion in generation, transmission and distribution from 2025 through 2028.

Customer service centers and call centers are the traditional touchpoints, though specific volume data isn't always public, the digital channels offload much of the routine interaction. The company is mindful that about 40% of its approximately 3 million residential customers live at or below the poverty line, which drives decisions on service accessibility and affordability.

Regulatory filings and public hearings act as an indirect but critical channel for rate recovery and investment approval. These proceedings directly impact the financial viability of the service delivery. For example, Entergy Arkansas submitted an application for approval of Jefferson Power Station, a 754-megawatt CCCT facility. Furthermore, Entergy Texas was awarded a $200 million grant from the Texas Energy Fund for resiliency projects. Financial results from these regulatory outcomes are tracked closely; for the third quarter of 2025, the Utility business reported earnings attributable to Entergy Corporation of $810 million, or $1.79 per share, on an as-reported and an adjusted basis. The company narrowed its 2025 adjusted EPS guidance range to $3.85 to $3.95.

Entergy Corporation (ETR) - Canvas Business Model: Customer Segments

Entergy Corporation produces, transmits and distributes electricity to power life for approximately 3 million customers across its operating companies in Arkansas, Louisiana, Mississippi, and Texas. The company is sharpening its focus on the regulated electric utility business, with the gas distribution business sale expected to finalize in late summer 2025, which previously served more than 200,000 customers in New Orleans and Baton Rouge.

The electric retail customer base, as reported for the second quarter of 2025, shows the distribution across the primary regulated segments:

Customer Type	Number of Electric Retail Customers (Q2 2025)
Residential customers	2,608,472
Commercial businesses	371,699
Industrial customers	Data not explicitly provided as a total count in the latest retail segment breakdown, but volume growth is noted.
Governmental customers	18,008
Total Retail Customers (Approximate)	~2,998,179

Large industrial customers represent a significant growth driver. For the first quarter of 2025, industrial volume saw an increase of 9.3 percent, specifically driven by sales to petroleum refining, chlor-alkali, and primary metals customers.

The focus on securing large, high-demand load is evident in the utility's preparation for new data center development. Entergy Corporation has expanded its agreement for power island equipment by an additional 4.5 gigawatts to accommodate the growing pipeline of potential data center customers. This growth is supported by specific project approvals, such as Entergy Arkansas submitting an application for the 754-megawatt Jefferson Power Station, a CCCT facility, and Entergy Texas receiving approval for the Legend and Lone Star power stations.

Wholesale power purchasers are primarily internal entities receiving power from Entergy's generation assets. For instance, System Energy sells its power and capacity from Grand Gulf 1 at wholesale according to the following allocations:

• Entergy Arkansas: 36%
• Entergy Mississippi: 33%
• Entergy New Orleans: 17%
• Entergy Louisiana: 14%

Commercial businesses of varying sizes are served across the four-state footprint, with 371,699 commercial customers reported as of the second quarter of 2025. Still, this segment experienced a slight sales decline of (1.1) percent in the first quarter of 2025, contrasting with the strong industrial performance.

New, high-growth data center developers are a key focus for future load capture, evidenced by the expansion of power equipment agreements and securing new hyperscale data center agreements in Mississippi and Louisiana.

Finance: review the capital allocation plan against the $37 billion generation, transmission, and distribution investment planned through 2028 to support this customer growth.

Entergy Corporation (ETR) - Canvas Business Model: Cost Structure

You're looking at the core expenses that keep the lights on and the grid growing for Entergy Corporation. For a utility this size, the cost structure is dominated by massive, long-term infrastructure spending and the volatile costs of fuel.

High capital expenditures for infrastructure are a defining feature. Entergy Corporation has raised its 4-year capital plan to a total of $40 billion through 2028, signaling a significant, ongoing commitment to investment. This spending funds grid modernization and clean energy projects.

The day-to-day running of the system involves substantial Operating and Maintenance (O&M) expenses. You see the pressure points in the near term; for instance, other O&M expenses in the third quarter of 2025 were expected to be roughly $0.05 higher than the third quarter of the prior year, partly driven by the timing of vegetation maintenance and nonnuclear plant outages.

Fuel and purchased power costs flow directly through to customers, but they represent a major cash outlay. For example, Entergy Texas expected higher MISO capacity costs in July and August of 2025, totaling approximately $0.06.

Financing these massive capital projects means interest expense on debt is a constant factor. While a precise 2025 total interest expense figure isn't immediately available, reports from early 2025 indicated that higher interest rates and increased debt balances were already contributing to higher interest expense year-over-year.

Storm restoration and resilience costs are a critical, though less predictable, component. For specific resilience efforts, Entergy New Orleans received approval for Phase 1 of its Accelerated Resilience Plan (2025-26), with a total approved cost of $100 Million over the two-year period. This specific Phase 1 investment is designed to strengthen nearly 3,100 structures and upgrade 63 electrical line miles.

Here's a look at how these major cost categories stack up based on recent disclosures:

Cost Category	Latest Reported/Projected Metric	Context/Timeframe
Capital Expenditures (Total Plan)	$40 billion	Through 2028
Other O&M (Vegetation/Outages)	Roughly $0.05 higher YoY	Q3 2025 Projection
MISO Capacity Costs	Totaling approximately $0.06	Entergy Texas, July and August 2025
Entergy New Orleans Resilience Phase 1 Cost	$100 Million	2025-2026 period

You can see the ongoing nature of these expenditures through the following key cost drivers:

• Debt Servicing: Interest expense is sensitive to the cost of capital used to fund the $40 billion plan.
• Vegetation Management: This is a recurring, planned O&M expense that saw upward pressure in 2025 projections.
• Regulatory Recovery: Storm costs, like the Entergy New Orleans Phase 1 resilience investment, are often sought to be recovered via riders, shifting the immediate cash burden but remaining a cost to the rate base.
• Fuel Volatility: Purchased power and fuel costs are passed through dollar-for-dollar, but the magnitude of these costs is significant.

For the first quarter of 2025, total operating expenses were reported at $2.15 billion, which was a 16% fall compared to the same period the previous year.

Finance: draft 13-week cash view by Friday.

Entergy Corporation (ETR) - Canvas Business Model: Revenue Streams

You're looking at the core ways Entergy Corporation brings in cash, which is heavily tied to its regulated utility structure across Arkansas, Louisiana, Mississippi, and Texas. Honestly, for a regulated utility, the revenue streams are pretty straightforward, but the growth drivers right now are anything but.

The regulated electric retail sales are definitely the main engine. Entergy Corporation serves nearly 3 million customers across its service territory. This regulated business means that the rates you charge customers are set by state public utility commissions, which is a double-edged sword-it provides stability but limits upside. For instance, in the second quarter of 2025, the Utility business reported earnings attributable to Entergy Corporation of $599 million. By the third quarter of 2025, that Utility business segment was reporting earnings of $810 million.

A key metric for you to watch here is the Return on Equity (ROE) earned on that regulated asset base. For the quarter ending in mid-2025, Entergy Corporation reported a return on equity of 11.53%. This number is critical because it's the allowed profit margin regulators permit the company to earn on its investments in infrastructure, like power plants and wires.

The top-line revenue picture for the Trailing Twelve Months (TTM) ending September 30, 2025, shows a total revenue of $12.73 Billion USD. This is up from the full-year 2024 revenue of $11.88 Billion USD.

Here's a quick look at how the revenue components stacked up in recent quarters:

Metric	Period	Value	Context
Total Retail Sale	Q2 2025	35,534 GWh	Total gigawatt-hours sold
Industrial Sales Growth	Q1 2025	9.3%	Compared to prior year period
Residential Sales Volume	Q1 2025	8,784 GWh	January to March quarter
Utility Business Earnings	Q3 2025	$810 million	As-reported and adjusted basis

Next up is wholesale power sales to other entities. Entergy Corporation uses Entergy-Koch, L.P. to handle wholesale energy marketing and trading services. While retail is the bedrock, these wholesale activities provide flexibility. The growth in earnings drivers in Q3 2025 included higher other income, primarily due to an increase in AFUDC-equity (Allowance for Funds Used During Construction equity), which can reflect capital projects that may eventually serve wholesale needs or be rolled into the regulated base.

A major near-term opportunity driving revenue potential is the demand from large, new industrial loads, which often involve customer-funded interconnection costs. You've definitely heard about the data center boom; Entergy Corporation is actively securing this business. They increased their agreement for power island equipment by an additional 4.5 gigawatts to support potential data center customers. Furthermore, regulators in Louisiana approved resources needed to support Meta's data center project. To meet this anticipated demand, Entergy has increased its four-year capital expenditure plan to $40 billion, up from $37 billion.

Finally, the forward-looking guidance reflects confidence in this revenue base, even with the inherent regulatory lag. Entergy Corporation narrowed its 2025 Adjusted EPS guidance to a range of $3.85 to $3.95 per share following its third-quarter 2025 results. This is a tighter band than the earlier affirmed range of $3.75 to $3.95.

The revenue streams are supported by:

• Regulated retail sales to 3 million customers.
• A recent quarterly ROE of 11.53%.
• TTM revenue as of September 30, 2025, at $12.73 Billion USD.
• Securing capacity for new loads, including an additional 4.5 GW agreement for power island equipment.
• A capital plan expansion to $40 billion through 2028 to support growth.

Finance: draft 13-week cash view by Friday.