Entergy: Two Storms Cost At Least $1 Billion

NEW ORLEANS (AP) - Entergy Corporation estimates that damage from hurricanes Ike and Gustav cost the power provider $1 billion to $1.2 billion.

Of Entergy's six regulated power utilities, Entergy Texas took the most damage during Ike - an estimated $435 million to $510 million. Entergy says that storm cost a total ranging from $525 million to $625 million.

Earlier, Entergy estimated the cost of repairs and restoring electricity following Gustav to range from $500 million to $600 million.

New Orleans-based Entergy also says it expects a yet-to-be determined drop in utility revenue because of the storm outages.

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