SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date earliest event reported) December 9,1994 Commission Registrant, State of Incorporation, I.R.S. Employer File Number Address and Telephone Number Identification No. 1-11299 ENTERGY CORPORATION 13-5550175 (a Delaware corporation) 225 Baronne Street New Orleans, Louisiana 70112 Telephone (504) 529-5262 1-2703 GULF STATES UTILITIES COMPANY 74-0662730 (a Texas corporation) 350 Pine Street Beaumont, Texas 77701 Telephone (409) 838-6631 1-8474 LOUISIANA POWER & LIGHT COMPANY 72-0245590 (a Louisiana corporation) 639 Loyola Avenue New Orleans, Louisiana 70112 Telephone (504) 569-4000 0-5807 NEW ORLEANS PUBLIC SERVICE INC. 72-0273040 (a Louisiana corporation) 639 Loyola Avenue New Orleans, Louisiana 70112 Telephone (504) 569-4000
Form 8-K Page 1 December 9, 1994 Item 5. Other Materially Important Events Entergy Corporation, GSU, LP&L and NOPSI As previously reported in the Form 10-Q for the Quarterly Period Ended September 30, 1994, a recent Louisiana Supreme Court decision held, among other things, that the Louisiana legislature's suspension of certain state sales and use tax exemptions had the additional effect of suspending exemptions from local sales and use taxes. The Louisiana Supreme Court has granted an application for rehearing of this issue, and its decision is therefore not yet final. Neither Entergy nor any of its subsidiaries operating in Louisiana (principally Louisiana Power & Light Company ("LP&L), New Orleans Public Service Inc. ("NOPSI") and Gulf States Utilities Company ("GSU")) is a party to the case. However, Entergy has filed an amicus curiae brief in the case asking the Louisiana Supreme Court to reverse its decision. Oral argument in the case has been set for January 20, 1995. If the Louisiana Supreme Court does not reverse its decision in the case, the effect could be that certain sales of electricity and gas, fuels and other items used to generate electricity in Louisiana by LP&L, NOPSI and GSU could be subject to local sales and use taxes. Retroactive application of the obligation to collect these taxes could result in an aggregate liability for back taxes on the part of the Entergy system companies estimated to be approximately $110 million per year, for up to four years. The annual liability of LP&L, NOPSI and GSU, respectively, is estimated to be approximately $60 million, $20 million and $30 million. Each of the affected Entergy companies believes that such taxes (if any) assessed against it, including uncollected taxes for prior years, will be recoverable from customers. While a full recovery of all such taxes cannot be assured, the affected Entergy companies will seek to collect any such taxes from their respective customers. Entergy Corporation and GSU As previously reported in the Form 10-Q for the Quarterly Period Ended September 30, 1994, various cities in GSU's Texas retail service territory adopted ordinances directing GSU to reduce its Texas retail base rates by $45.9 million and GSU appealed the cities' ordinances to the Texas Public Utilities Commission ("PUCT"). On November 14, 1994, those cities that intervened in the PUCT appeal filed testimony with the PUCT supporting a $105.4 million base rate reduction in lieu of the previously proposed $45.9 million reduction. On November 21, 1994, the PUCT staff filed testimony that supported a $38.2 million base rate reduction. GSU has filed information with the PUCT that it believes supports the current level of rates. Hearings are currently ongoing. Form 8-K Page 2 December 9, 1994 SIGNATURE Pursuant to the requirements of the Securities Exchange Act 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Entergy Corporation By: /s/ Lee W. Randall Lee W. Randall Vice President and Chief Accounting Officer Gulf States Utilities Company Louisiana Power & Light Company New Orleans Public Service Inc. By: /s/ Lee W. Randall Lee W. Randall Vice President, Chief Accounting Officer and Assistant Secretary Dated: December 9, 1994
This website contains, and has materials that contain, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The words "expected", "will" and similar expressions are intended to identify forward-looking statements. Entergy's expectations regarding any specific matter is only its forecast regarding the matter. A forecast may be substantially different from actual results, which are effected by various factors that are in Entergy's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.