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Entergy estimates repair costs of up to $2.6 billion from Hurricane Ida By Reuters

by Mike Robinson

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© Reuters.

(Reuters) – Entergy Corp (NYSE:) said on Tuesday it expects restoration costs for electrical facilities damaged by Hurricane Ida to be between $2.1 billion to $2.6 billion.

The energy company said Hurricane Ida inflicted significant damage to its electric system that resulted in 948,000 outages at its peak.

Entergy claimed that the majority of storm-related costs occurred in Louisiana, New Orleans and New York.

According to Entergy, 98% of storm-affected customers had been restored and power was restored.

Ida is one of America’s most destructive hurricanes. The storm swept through Louisiana and then headed northeast to cause severe flooding. Many people were killed in New York and the other Northeastern states.

Entergy expects that power outages caused by the hurricane will adversely affect utility revenue in 2021.

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