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Stock Market & Financial Investment News

News Breaks
February 8, 2013
13:23 EDTETREntergy says source of Super Bowl power outage traced to relay device
Entergy New Orleans, a unit of Entergy (ETR), announced that it has traced the cause of Sunday’s outage to an electrical relay device. The device was specifically installed to protect the Mercedes-Benz Superdome equipment in the event of a cable failure between the switchgear and the stadium. While the relay functioned without issue during a number of high-profile events, during Sunday’s game, the relay device triggered, signaling a switch to open when it should not have, causing the partial outage. This device has since been removed from service and new replacement equipment is being evaluated.
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May 20, 2013
12:59 EDTETRRuling on PPL may have positive read-through for other utilities, Reuters says
The Supreme Court ruled PPL (PPL) can claim $39M in U.S. foreign tax credits against a 1997 British windfall tax and other utility companies, like Entergy (ETR) and American Electric Power (AEP), are in the same position, having been hit by the windfall tax after they acquired British utility companies that were later privatized, reported Reuters. Reference Link

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