Entergy (NYSE:ETR) shares are up on Friday following a significant agreement with Meta Platforms, Inc. (NASDAQ:META).

This partnership is part of a broader strategy to enhance grid reliability and support long-term infrastructure investments.

• Entergy shares are testing new highs. What’s behind ETR new highs?

Details

The agreement is structured to ensure Meta pays its full cost of service. With this, Entergy expects to generate about $2 billion in customer savings for Entergy Louisiana over the next 20 years.

The deal builds upon the previously announced $650 million deal with Meta. Overall, Entergy expects to see a total of around $2.65 billion in customer benefits.

This deal not only aims to lower energy costs for vulnerable customers but also promises to create thousands of jobs.

In addition to the economic benefits, the project is expected to generate increased tax revenues, which will support local schools and public safety initiatives.

Expansion Plans

Entergy Louisiana, with funding from Meta, is undertaking a major energy expansion that includes seven new natural gas plants totaling over 5,200 MW.

It is designed for future carbon capture and hydrogen co-firing. The plan also adds around 240 miles of 500 kV transmission lines connecting South Louisiana, North Louisiana and Arkansas, along ...