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Risk Management And Fair Values (Tables)

6 Months Ended

Jun. 30, 2025

Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location [Table Text Block]

The fair values of Entergy’s derivative instruments not designated as hedging instruments on the consolidated balance sheets as of June 30, 2025 and December 31, 2024 are shown in the table below. Certain investments, including those not designated as hedging instruments, are subject to master netting agreements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging.


Instrument	Balance Sheet Location	Gross Fair Value (a)	Offsetting Position (b)	Net Fair Value (c) (d)
		(In Millions)
2025
Assets:


Financial transmission rights	Prepayments and other	$49	($1)	$48

Liabilities:
Natural gas swaps	Other current liabilities	$3	$—	$3



2024
Assets:
Natural gas swaps	Prepayments and other	$2	$—	$2

Financial transmission rights	Prepayments and other	$21	($1)	$20

Liabilities:
Financial transmission rights	Other current liabilities	($—)	$1	$1

(a)Represents the gross amounts of recognized assets/liabilities

(b)Represents the netting of fair value balances with the same counterparty

(c)Represents the net amounts of assets/liabilities presented on the Entergy Corporation and Subsidiaries’ Consolidated Balance Sheets

(d)Excludes letters of credit posted with MISO to cover financial transmission rights exposure in the amount of $6 million as of June 30, 2025 and $2 million as of December 31, 2024

Derivatives Not Designated as Hedging Instruments [Table Text Block]

The effects of Entergy’s derivative instruments not designated as hedging instruments on the consolidated income statements for the three months ended June 30, 2025 and 2024 are as follows:

Instrument

Income Statement
Location

Amount of gain

recorded in the income statement

(In Millions)

2025

Natural gas swaps

Fuel, fuel-related expenses, and gas purchased for resale

(a)

$11

Financial transmission rights

Purchased power expense

(b)

$66

2024

Natural gas swaps

Fuel, fuel-related expenses, and gas purchased for resale

(a)

Financial transmission rights

Purchased power expense

(b)

$47

The effects of Entergy’s derivative instruments not designated as hedging instruments on the consolidated income statements for the six months ended June 30, 2025 and 2024 are as follows:

Instrument

Income Statement
Location

Amount of gain (loss)
recorded in the income statement

(In Millions)

2025

Natural gas swaps

Fuel, fuel-related expenses, and gas purchased for resale

(a)

($1)

Financial transmission rights

Purchased power expense

(b)

$114

2024

Natural gas swaps

Fuel, fuel-related expenses, and gas purchased for resale

(a)

($3)

Financial transmission rights

Purchased power expense

(b)

$100

(a)Due to regulatory treatment, the natural gas swaps are marked-to-market through fuel, fuel-related expenses, and gas purchased for resale and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as fuel expenses when the swaps are settled are recovered or refunded through fuel cost recovery mechanisms.

(b)Due to regulatory treatment, the changes in the estimated fair value of financial transmission rights for the Utility operating companies are recorded through purchased power expense and then such amounts are simultaneously reversed and recorded as an offsetting regulatory asset or liability. The gains or losses recorded as purchased power expense when the financial transmission rights for the Utility operating companies are settled are recovered or refunded through fuel cost recovery mechanisms.

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

The following tables set forth, by level within the fair value hierarchy, Entergy’s assets and liabilities that are accounted for at fair value on a recurring basis as of June 30, 2025 and December 31, 2024. The assessment of

the significance of a particular input to a fair value measurement requires judgment and may affect placement within the fair value hierarchy levels.


2025	Level 1	Level 2	Level 3	Total
	(In Millions)
Assets:
Temporary cash investments	$1,012	$—	$—	$1,012

Decommissioning trust funds (a):

Equity securities	48	—	—	48
Debt securities	857	1,250	—	2,107
Common trusts (b)				3,678

Securitization recovery trust account	1	—	—	1
Storm reserve escrow accounts	303	—	—	303

Financial transmission rights	—	—	48	48
	$2,221	$1,250	$48	$7,197

Liabilities:

Natural gas swaps	$—	$—	$3	$3


2024	Level 1	Level 2	Level 3	Total
	(In Millions)
Assets:
Temporary cash investments	$811	$—	$—	$811
Decommissioning trust funds (a):
Equity securities	30	—	—	30
Debt securities	848	1,199	—	2,047
Common trusts (b)				3,486
Securitization recovery trust account	4	—	—	4
Storm reserve escrow accounts	340	—	—	340
Natural gas swaps	2	—	—	2
Financial transmission rights	—	—	20	20
	$2,035	$1,199	$20	$6,740

Liabilities:
Financial transmission rights	$—	$—	$1	$1

(a)The decommissioning trust funds hold equity and fixed income securities. Equity securities are invested to approximate the returns of major market indices. Fixed income securities are held in various governmental and corporate securities. See Note 9 to the financial statements herein for additional information on the investment portfolios.

(b)Common trust funds are not publicly quoted and are valued by the fund administrators using net asset value as a practical expedient. Accordingly, these funds are not assigned a level in the fair value table. The fund administrator of these investments allows daily trading at the net asset value and trades settle at a later date.

Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation

The following table sets forth a reconciliation of changes in the net assets for the fair value of financial transmission rights classified as Level 3 in the fair value hierarchy for the three months ended June 30, 2025 and 2024:


	2025	2024
	(In Millions)
Balance as of April 1,	$7	$9
Issuances of financial transmission rights	49	53
Gains included as a regulatory liability/asset	58	34
Settlements	(66)	(47)
Balance as of June 30,	$48	$49


	2025	2024
	(In Millions)
Balance as of January 1,	$20	$21
Issuances of financial transmission rights	49	53
Gains included as a regulatory liability/asset	93	75
Settlements	(114)	(100)
Balance as of June 30,	$48	$49

Entergy Arkansas [Member]

Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location [Table Text Block]

The fair values of derivative instruments not designated as hedging instruments on the Registrant Subsidiaries’ balance sheets as of June 30, 2025 and December 31, 2024 are shown in the tables below. Certain investments, including those not designated as hedging instruments, are subject to master netting agreements and are presented in the balance sheet on a net basis in accordance with accounting guidance for derivatives and hedging.


Instrument	Balance Sheet Location	Gross Fair Value (a)	Offsetting Position (b)	Net Fair Value (c) (d)	Registrant
		(In Millions)
2025
Assets:







Financial transmission rights	Prepayments and other	$11.1	$—	$11.1	Entergy Arkansas
Financial transmission rights	Prepayments and other	$28.6	($0.3)	$28.3	Entergy Louisiana
Financial transmission rights	Prepayments and other	$1.5	($0.1)	$1.4	Entergy Mississippi
Financial transmission rights	Prepayments and other	$3.0	$—	$3.0	Entergy New Orleans
Financial transmission rights	Prepayments and other	$4.5	($0.6)	$3.9	Entergy Texas

Liabilities:





Natural gas swaps	Other current liabilities	$3.0	$—	$3.0	Entergy Mississippi


Instrument	Balance Sheet Location	Gross Fair Value (a)	Offsetting Position (b)	Net Fair Value (c) (d)	Registrant
		(In Millions)
2024
Assets:


Natural gas swaps	Prepayments and other	$1.6	$—	$1.6	Entergy Mississippi


Financial transmission rights	Prepayments and other	$8.6	($0.1)	$8.5	Entergy Arkansas
Financial transmission rights	Prepayments and other	$8.7	($0.1)	$8.6	Entergy Louisiana

Financial transmission rights	Prepayments and other	$1.3	$—	$1.3	Entergy New Orleans
Financial transmission rights	Prepayments and other	$2.0	($0.1)	$1.9	Entergy Texas

Liabilities:
Financial transmission rights	Other current liabilities	($0.4)	$0.9	$0.5	Entergy Mississippi

(a)Represents the gross amounts of recognized assets/liabilities

(b)Represents the netting of fair value balances with the same counterparty

(c)Represents the net amounts of assets/liabilities presented on the Registrant Subsidiaries’ balance sheets

(d)Excludes letters of credit posted with MISO to cover financial transmission rights exposure in the amount of $3.5 million for Entergy Arkansas, $1.2 million for Entergy Louisiana, $0.6 million for Entergy Mississippi,

and $0.6 million for Entergy Texas as of June 30, 2025 and in the amount of $0.5 million for Entergy Arkansas, $0.1 million for Entergy Louisiana, $0.8 million for Entergy Mississippi, $0.1 million for Entergy New Orleans, and $0.3 million for Entergy Texas as of December 31, 2024.

Derivatives Not Designated as Hedging Instruments [Table Text Block]

The effects of derivative instruments not designated as hedging instruments on the Registrant Subsidiaries’ income statements for the three months ended June 30, 2025 and 2024 are as follows:

Instrument

Income Statement Location

Amount of gain
(loss) recorded
in the income statement

Registrant

(In Millions)

2025

Natural gas swaps

Fuel, fuel-related expenses, and gas purchased for resale

$11.4

(a)

Entergy Mississippi

Financial transmission rights

Purchased power expense

$9.5

(b)

Entergy Arkansas

Financial transmission rights

Purchased power expense

$42.0

(b)

Entergy Louisiana

Financial transmission rights

Purchased power expense

$3.1

(b)

Entergy Mississippi

Financial transmission rights

Purchased power expense

$8.8

(b)

Entergy New Orleans

Financial transmission rights

Purchased power expense

$2.3

(b)

Entergy Texas

2024

Natural gas swaps

Fuel, fuel-related expenses, and gas purchased for resale

($3.0)

(a)

Entergy Mississippi

Financial transmission rights

Purchased power expense

$12.0

(b)

Entergy Arkansas

Financial transmission rights

Purchased power expense

$25.0

(b)

Entergy Louisiana

Financial transmission rights

Purchased power expense

$2.1

(b)

Entergy Mississippi

Financial transmission rights

Purchased power expense

$3.3

(b)

Entergy New Orleans

Financial transmission rights

Purchased power expense

$4.6

(b)

Entergy Texas

The effects of derivative instruments not designated as hedging instruments on the Registrant Subsidiaries’ income statements for the six months ended June 30, 2025 and 2024 are as follows:

Instrument

Income Statement Location

Amount of gain
(loss) recorded
in the income statement

Registrant

(In Millions)

2025

Natural gas swaps

Fuel, fuel-related expenses, and gas purchased for resale

($1.2)

(a)

Entergy Mississippi

Financial transmission rights

Purchased power expense

$28.2

(b)

Entergy Arkansas

Financial transmission rights

Purchased power expense

$64.1

(b)

Entergy Louisiana

Financial transmission rights

Purchased power expense

$5.1

(b)

Entergy Mississippi

Financial transmission rights

Purchased power expense

$11.1

(b)

Entergy New Orleans

Financial transmission rights

Purchased power expense

$5.8

(b)

Entergy Texas

2024

Natural gas swaps

Fuel, fuel-related expenses, and gas purchased for resale

$2.3

(a)

Entergy Mississippi

Natural gas swaps

Fuel, fuel-related expenses, and gas purchased for resale

$0.5

(a)

Entergy New Orleans

Financial transmission rights

Purchased power expense

$38.9

(b)

Entergy Arkansas

Financial transmission rights

Purchased power expense

$41.2

(b)

Entergy Louisiana

Financial transmission rights

Purchased power expense

$3.1

(b)

Entergy Mississippi

Financial transmission rights

Purchased power expense

$4.4

(b)

Entergy New Orleans

Financial transmission rights

Purchased power expense

$12.1

(b)

Entergy Texas

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

The following tables set forth, by level within the fair value hierarchy, the Registrant Subsidiaries’ assets and liabilities that are accounted for at fair value on a recurring basis as of June 30, 2025 and December 31, 2024. The assessment of the significance of a particular input to a fair value measurement requires judgment and may affect placement within the fair value hierarchy levels.

Entergy Arkansas


2025	Level 1	Level 2	Level 3	Total
	(In Millions)
Assets:
Temporary cash investments	$182.4	$—	$—	$182.4
Decommissioning trust funds (a):
Equity securities	23.3	—	—	23.3
Debt securities	266.3	327.8	—	594.1
Common trusts (b)				1,069.3


Financial transmission rights	—	—	11.1	11.1
	$472.0	$327.8	$11.1	$1,880.2


2024	Level 1	Level 2	Level 3	Total
	(In Millions)
Assets:
Temporary cash investments	$3.4	$—	$—	$3.4
Decommissioning trust funds (a):
Equity securities	12.9	—	—	12.9
Debt securities	259.9	319.1	—	579.0
Common trusts (b)				1,012.5
Financial transmission rights	—	—	8.5	8.5
	$276.2	$319.1	$8.5	$1,616.3

Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation

The following table sets forth a reconciliation of changes in the net assets (liabilities) for the fair value of financial transmission rights classified as Level 3 in the fair value hierarchy for the three months ended June 30, 2025.


	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas
	(In Millions)
Balance as of April 1,	$3.0	$3.4	($0.1)	$0.4	$0.4
Issuances of financial transmission rights	11.8	28.7	1.5	3.0	4.0
Gains included as a regulatory liability/asset	5.8	38.2	3.1	8.4	1.8
Settlements	(9.5)	(42.0)	(3.1)	(8.8)	(2.3)
Balance as of June 30,	$11.1	$28.3	$1.4	$3.0	$3.9


	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas
	(In Millions)
Balance as of April 1,	$2.8	$4.1	$0.6	$0.5	$1.2
Issuances of financial transmission rights	17.6	21.6	3.9	2.8	7.3
Gains included as a regulatory liability/asset	7.7	19.1	1.2	2.6	2.7
Settlements	(12.0)	(25.0)	(2.1)	(3.3)	(4.6)
Balance as of June 30,	$16.1	$19.8	$3.6	$2.6	$6.6


	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas
	(In Millions)
Balance as of January 1,	$8.6	$8.6	($0.5)	$1.3	$1.9
Issuances of financial transmission rights	11.8	28.7	1.5	2.9	4.0
Gains included as a regulatory liability/asset	18.9	55.1	5.5	9.9	3.8
Settlements	(28.2)	(64.1)	(5.1)	(11.1)	(5.8)
Balance as of June 30,	$11.1	$28.3	$1.4	$3.0	$3.9


	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas
	(In Millions)
Balance as of January 1,	$6.0	$9.8	$1.4	$1.1	$2.4
Issuances of financial transmission rights	17.6	21.6	3.9	2.8	7.3
Gains included as a regulatory liability/asset	31.4	29.6	1.4	3.1	9.0
Settlements	(38.9)	(41.2)	(3.1)	(4.4)	(12.1)
Balance as of June 30,	$16.1	$19.8	$3.6	$2.6	$6.6

Entergy Louisiana [Member]

Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location [Table Text Block]


Instrument	Balance Sheet Location	Gross Fair Value (a)	Offsetting Position (b)	Net Fair Value (c) (d)	Registrant
		(In Millions)
2025
Assets:







Financial transmission rights	Prepayments and other	$11.1	$—	$11.1	Entergy Arkansas
Financial transmission rights	Prepayments and other	$28.6	($0.3)	$28.3	Entergy Louisiana
Financial transmission rights	Prepayments and other	$1.5	($0.1)	$1.4	Entergy Mississippi
Financial transmission rights	Prepayments and other	$3.0	$—	$3.0	Entergy New Orleans
Financial transmission rights	Prepayments and other	$4.5	($0.6)	$3.9	Entergy Texas

Liabilities:





Natural gas swaps	Other current liabilities	$3.0	$—	$3.0	Entergy Mississippi


Instrument	Balance Sheet Location	Gross Fair Value (a)	Offsetting Position (b)	Net Fair Value (c) (d)	Registrant
		(In Millions)
2024
Assets:


Natural gas swaps	Prepayments and other	$1.6	$—	$1.6	Entergy Mississippi


Financial transmission rights	Prepayments and other	$8.6	($0.1)	$8.5	Entergy Arkansas
Financial transmission rights	Prepayments and other	$8.7	($0.1)	$8.6	Entergy Louisiana

Financial transmission rights	Prepayments and other	$1.3	$—	$1.3	Entergy New Orleans
Financial transmission rights	Prepayments and other	$2.0	($0.1)	$1.9	Entergy Texas

Liabilities:
Financial transmission rights	Other current liabilities	($0.4)	$0.9	$0.5	Entergy Mississippi

(a)Represents the gross amounts of recognized assets/liabilities

(b)Represents the netting of fair value balances with the same counterparty

(c)Represents the net amounts of assets/liabilities presented on the Registrant Subsidiaries’ balance sheets

Derivatives Not Designated as Hedging Instruments [Table Text Block]

The effects of derivative instruments not designated as hedging instruments on the Registrant Subsidiaries’ income statements for the three months ended June 30, 2025 and 2024 are as follows:

Instrument

Income Statement Location

Amount of gain
(loss) recorded
in the income statement

Registrant

(In Millions)

2025

Natural gas swaps

Fuel, fuel-related expenses, and gas purchased for resale

$11.4

(a)

Entergy Mississippi

Financial transmission rights

Purchased power expense

$9.5

(b)

Entergy Arkansas

Financial transmission rights

Purchased power expense

$42.0

(b)

Entergy Louisiana

Financial transmission rights

Purchased power expense

$3.1

(b)

Entergy Mississippi

Financial transmission rights

Purchased power expense

$8.8

(b)

Entergy New Orleans

Financial transmission rights

Purchased power expense

$2.3

(b)

Entergy Texas

2024

Natural gas swaps

Fuel, fuel-related expenses, and gas purchased for resale

($3.0)

(a)

Entergy Mississippi

Financial transmission rights

Purchased power expense

$12.0

(b)

Entergy Arkansas

Financial transmission rights

Purchased power expense

$25.0

(b)

Entergy Louisiana

Financial transmission rights

Purchased power expense

$2.1

(b)

Entergy Mississippi

Financial transmission rights

Purchased power expense

$3.3

(b)

Entergy New Orleans

Financial transmission rights

Purchased power expense

$4.6

(b)

Entergy Texas

The effects of derivative instruments not designated as hedging instruments on the Registrant Subsidiaries’ income statements for the six months ended June 30, 2025 and 2024 are as follows:

Instrument

Income Statement Location

Amount of gain
(loss) recorded
in the income statement

Registrant

(In Millions)

2025

Natural gas swaps

Fuel, fuel-related expenses, and gas purchased for resale

($1.2)

(a)

Entergy Mississippi

Financial transmission rights

Purchased power expense

$28.2

(b)

Entergy Arkansas

Financial transmission rights

Purchased power expense

$64.1

(b)

Entergy Louisiana

Financial transmission rights

Purchased power expense

$5.1

(b)

Entergy Mississippi

Financial transmission rights

Purchased power expense

$11.1

(b)

Entergy New Orleans

Financial transmission rights

Purchased power expense

$5.8

(b)

Entergy Texas

2024

Natural gas swaps

Fuel, fuel-related expenses, and gas purchased for resale

$2.3

(a)

Entergy Mississippi

Natural gas swaps

Fuel, fuel-related expenses, and gas purchased for resale

$0.5

(a)

Entergy New Orleans

Financial transmission rights

Purchased power expense

$38.9

(b)

Entergy Arkansas

Financial transmission rights

Purchased power expense

$41.2

(b)

Entergy Louisiana

Financial transmission rights

Purchased power expense

$3.1

(b)

Entergy Mississippi

Financial transmission rights

Purchased power expense

$4.4

(b)

Entergy New Orleans

Financial transmission rights

Purchased power expense

$12.1

(b)

Entergy Texas

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

Entergy Louisiana


2025	Level 1	Level 2	Level 3	Total
	(In Millions)
Assets:
Temporary cash investments	$298.3	$—	$—	$298.3

Decommissioning trust funds (a):

Equity securities	20.8	—	—	20.8
Debt securities	332.4	598.9	—	931.3
Common trusts (b)				1,588.4
Storm reserve escrow account	228.4	—	—	228.4


Financial transmission rights	—	—	28.3	28.3
	$879.9	$598.9	$28.3	$3,095.5


2024	Level 1	Level 2	Level 3	Total
	(In Millions)
Assets:
Temporary cash investments	$326.8	$—	$—	$326.8
Decommissioning trust funds (a):
Equity securities	14.5	—	—	14.5
Debt securities	326.0	582.1	—	908.1
Common trusts (b)				1,506.5
Storm reserve escrow account	256.7	—	—	256.7
Financial transmission rights	—	—	8.6	8.6
	$924.0	$582.1	$8.6	$3,021.2

Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation


	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas
	(In Millions)
Balance as of April 1,	$3.0	$3.4	($0.1)	$0.4	$0.4
Issuances of financial transmission rights	11.8	28.7	1.5	3.0	4.0
Gains included as a regulatory liability/asset	5.8	38.2	3.1	8.4	1.8
Settlements	(9.5)	(42.0)	(3.1)	(8.8)	(2.3)
Balance as of June 30,	$11.1	$28.3	$1.4	$3.0	$3.9


	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas
	(In Millions)
Balance as of April 1,	$2.8	$4.1	$0.6	$0.5	$1.2
Issuances of financial transmission rights	17.6	21.6	3.9	2.8	7.3
Gains included as a regulatory liability/asset	7.7	19.1	1.2	2.6	2.7
Settlements	(12.0)	(25.0)	(2.1)	(3.3)	(4.6)
Balance as of June 30,	$16.1	$19.8	$3.6	$2.6	$6.6


	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas
	(In Millions)
Balance as of January 1,	$8.6	$8.6	($0.5)	$1.3	$1.9
Issuances of financial transmission rights	11.8	28.7	1.5	2.9	4.0
Gains included as a regulatory liability/asset	18.9	55.1	5.5	9.9	3.8
Settlements	(28.2)	(64.1)	(5.1)	(11.1)	(5.8)
Balance as of June 30,	$11.1	$28.3	$1.4	$3.0	$3.9


	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas
	(In Millions)
Balance as of January 1,	$6.0	$9.8	$1.4	$1.1	$2.4
Issuances of financial transmission rights	17.6	21.6	3.9	2.8	7.3
Gains included as a regulatory liability/asset	31.4	29.6	1.4	3.1	9.0
Settlements	(38.9)	(41.2)	(3.1)	(4.4)	(12.1)
Balance as of June 30,	$16.1	$19.8	$3.6	$2.6	$6.6

Entergy Mississippi [Member]

Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location [Table Text Block]


Instrument	Balance Sheet Location	Gross Fair Value (a)	Offsetting Position (b)	Net Fair Value (c) (d)	Registrant
		(In Millions)
2025
Assets:







Financial transmission rights	Prepayments and other	$11.1	$—	$11.1	Entergy Arkansas
Financial transmission rights	Prepayments and other	$28.6	($0.3)	$28.3	Entergy Louisiana
Financial transmission rights	Prepayments and other	$1.5	($0.1)	$1.4	Entergy Mississippi
Financial transmission rights	Prepayments and other	$3.0	$—	$3.0	Entergy New Orleans
Financial transmission rights	Prepayments and other	$4.5	($0.6)	$3.9	Entergy Texas

Liabilities:





Natural gas swaps	Other current liabilities	$3.0	$—	$3.0	Entergy Mississippi


Instrument	Balance Sheet Location	Gross Fair Value (a)	Offsetting Position (b)	Net Fair Value (c) (d)	Registrant
		(In Millions)
2024
Assets:


Natural gas swaps	Prepayments and other	$1.6	$—	$1.6	Entergy Mississippi


Financial transmission rights	Prepayments and other	$8.6	($0.1)	$8.5	Entergy Arkansas
Financial transmission rights	Prepayments and other	$8.7	($0.1)	$8.6	Entergy Louisiana

Financial transmission rights	Prepayments and other	$1.3	$—	$1.3	Entergy New Orleans
Financial transmission rights	Prepayments and other	$2.0	($0.1)	$1.9	Entergy Texas

Liabilities:
Financial transmission rights	Other current liabilities	($0.4)	$0.9	$0.5	Entergy Mississippi

(a)Represents the gross amounts of recognized assets/liabilities

(b)Represents the netting of fair value balances with the same counterparty

(c)Represents the net amounts of assets/liabilities presented on the Registrant Subsidiaries’ balance sheets

Derivatives Not Designated as Hedging Instruments [Table Text Block]

The effects of derivative instruments not designated as hedging instruments on the Registrant Subsidiaries’ income statements for the three months ended June 30, 2025 and 2024 are as follows:

Instrument

Income Statement Location

Amount of gain
(loss) recorded
in the income statement

Registrant

(In Millions)

2025

Natural gas swaps

Fuel, fuel-related expenses, and gas purchased for resale

$11.4

(a)

Entergy Mississippi

Financial transmission rights

Purchased power expense

$9.5

(b)

Entergy Arkansas

Financial transmission rights

Purchased power expense

$42.0

(b)

Entergy Louisiana

Financial transmission rights

Purchased power expense

$3.1

(b)

Entergy Mississippi

Financial transmission rights

Purchased power expense

$8.8

(b)

Entergy New Orleans

Financial transmission rights

Purchased power expense

$2.3

(b)

Entergy Texas

2024

Natural gas swaps

Fuel, fuel-related expenses, and gas purchased for resale

($3.0)

(a)

Entergy Mississippi

Financial transmission rights

Purchased power expense

$12.0

(b)

Entergy Arkansas

Financial transmission rights

Purchased power expense

$25.0

(b)

Entergy Louisiana

Financial transmission rights

Purchased power expense

$2.1

(b)

Entergy Mississippi

Financial transmission rights

Purchased power expense

$3.3

(b)

Entergy New Orleans

Financial transmission rights

Purchased power expense

$4.6

(b)

Entergy Texas

The effects of derivative instruments not designated as hedging instruments on the Registrant Subsidiaries’ income statements for the six months ended June 30, 2025 and 2024 are as follows:

Instrument

Income Statement Location

Amount of gain
(loss) recorded
in the income statement

Registrant

(In Millions)

2025

Natural gas swaps

Fuel, fuel-related expenses, and gas purchased for resale

($1.2)

(a)

Entergy Mississippi

Financial transmission rights

Purchased power expense

$28.2

(b)

Entergy Arkansas

Financial transmission rights

Purchased power expense

$64.1

(b)

Entergy Louisiana

Financial transmission rights

Purchased power expense

$5.1

(b)

Entergy Mississippi

Financial transmission rights

Purchased power expense

$11.1

(b)

Entergy New Orleans

Financial transmission rights

Purchased power expense

$5.8

(b)

Entergy Texas

2024

Natural gas swaps

Fuel, fuel-related expenses, and gas purchased for resale

$2.3

(a)

Entergy Mississippi

Natural gas swaps

Fuel, fuel-related expenses, and gas purchased for resale

$0.5

(a)

Entergy New Orleans

Financial transmission rights

Purchased power expense

$38.9

(b)

Entergy Arkansas

Financial transmission rights

Purchased power expense

$41.2

(b)

Entergy Louisiana

Financial transmission rights

Purchased power expense

$3.1

(b)

Entergy Mississippi

Financial transmission rights

Purchased power expense

$4.4

(b)

Entergy New Orleans

Financial transmission rights

Purchased power expense

$12.1

(b)

Entergy Texas

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

Entergy Mississippi


2025	Level 1	Level 2	Level 3	Total
	(In Millions)
Assets:
Temporary cash investments	$401.3	$—	$—	$401.3


Financial transmission rights	—	—	1.4	1.4
	$401.3	$—	$1.4	$402.7

Liabilities:
Natural gas swaps	$—	$—	$3.0	$3.0


2024	Level 1	Level 2	Level 3	Total
	(In Millions)
Assets:
Temporary cash investments	$155.5	$—	$—	$155.5
Natural gas swaps	1.6	—	—	1.6
	$157.1	$—	$—	$157.1

Liabilities:
Financial transmission rights	$—	$—	$0.5	$0.5

Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation


	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas
	(In Millions)
Balance as of April 1,	$3.0	$3.4	($0.1)	$0.4	$0.4
Issuances of financial transmission rights	11.8	28.7	1.5	3.0	4.0
Gains included as a regulatory liability/asset	5.8	38.2	3.1	8.4	1.8
Settlements	(9.5)	(42.0)	(3.1)	(8.8)	(2.3)
Balance as of June 30,	$11.1	$28.3	$1.4	$3.0	$3.9


	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas
	(In Millions)
Balance as of April 1,	$2.8	$4.1	$0.6	$0.5	$1.2
Issuances of financial transmission rights	17.6	21.6	3.9	2.8	7.3
Gains included as a regulatory liability/asset	7.7	19.1	1.2	2.6	2.7
Settlements	(12.0)	(25.0)	(2.1)	(3.3)	(4.6)
Balance as of June 30,	$16.1	$19.8	$3.6	$2.6	$6.6


	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas
	(In Millions)
Balance as of January 1,	$8.6	$8.6	($0.5)	$1.3	$1.9
Issuances of financial transmission rights	11.8	28.7	1.5	2.9	4.0
Gains included as a regulatory liability/asset	18.9	55.1	5.5	9.9	3.8
Settlements	(28.2)	(64.1)	(5.1)	(11.1)	(5.8)
Balance as of June 30,	$11.1	$28.3	$1.4	$3.0	$3.9


	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas
	(In Millions)
Balance as of January 1,	$6.0	$9.8	$1.4	$1.1	$2.4
Issuances of financial transmission rights	17.6	21.6	3.9	2.8	7.3
Gains included as a regulatory liability/asset	31.4	29.6	1.4	3.1	9.0
Settlements	(38.9)	(41.2)	(3.1)	(4.4)	(12.1)
Balance as of June 30,	$16.1	$19.8	$3.6	$2.6	$6.6

Entergy New Orleans [Member]

Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location [Table Text Block]


Instrument	Balance Sheet Location	Gross Fair Value (a)	Offsetting Position (b)	Net Fair Value (c) (d)	Registrant
		(In Millions)
2025
Assets:







Financial transmission rights	Prepayments and other	$11.1	$—	$11.1	Entergy Arkansas
Financial transmission rights	Prepayments and other	$28.6	($0.3)	$28.3	Entergy Louisiana
Financial transmission rights	Prepayments and other	$1.5	($0.1)	$1.4	Entergy Mississippi
Financial transmission rights	Prepayments and other	$3.0	$—	$3.0	Entergy New Orleans
Financial transmission rights	Prepayments and other	$4.5	($0.6)	$3.9	Entergy Texas

Liabilities:





Natural gas swaps	Other current liabilities	$3.0	$—	$3.0	Entergy Mississippi


Instrument	Balance Sheet Location	Gross Fair Value (a)	Offsetting Position (b)	Net Fair Value (c) (d)	Registrant
		(In Millions)
2024
Assets:


Natural gas swaps	Prepayments and other	$1.6	$—	$1.6	Entergy Mississippi


Financial transmission rights	Prepayments and other	$8.6	($0.1)	$8.5	Entergy Arkansas
Financial transmission rights	Prepayments and other	$8.7	($0.1)	$8.6	Entergy Louisiana

Financial transmission rights	Prepayments and other	$1.3	$—	$1.3	Entergy New Orleans
Financial transmission rights	Prepayments and other	$2.0	($0.1)	$1.9	Entergy Texas

Liabilities:
Financial transmission rights	Other current liabilities	($0.4)	$0.9	$0.5	Entergy Mississippi

(a)Represents the gross amounts of recognized assets/liabilities

(b)Represents the netting of fair value balances with the same counterparty

(c)Represents the net amounts of assets/liabilities presented on the Registrant Subsidiaries’ balance sheets

Derivatives Not Designated as Hedging Instruments [Table Text Block]

The effects of derivative instruments not designated as hedging instruments on the Registrant Subsidiaries’ income statements for the three months ended June 30, 2025 and 2024 are as follows:

Instrument

Income Statement Location

Amount of gain
(loss) recorded
in the income statement

Registrant

(In Millions)

2025

Natural gas swaps

Fuel, fuel-related expenses, and gas purchased for resale

$11.4

(a)

Entergy Mississippi

Financial transmission rights

Purchased power expense

$9.5

(b)

Entergy Arkansas

Financial transmission rights

Purchased power expense

$42.0

(b)

Entergy Louisiana

Financial transmission rights

Purchased power expense

$3.1

(b)

Entergy Mississippi

Financial transmission rights

Purchased power expense

$8.8

(b)

Entergy New Orleans

Financial transmission rights

Purchased power expense

$2.3

(b)

Entergy Texas

2024

Natural gas swaps

Fuel, fuel-related expenses, and gas purchased for resale

($3.0)

(a)

Entergy Mississippi

Financial transmission rights

Purchased power expense

$12.0

(b)

Entergy Arkansas

Financial transmission rights

Purchased power expense

$25.0

(b)

Entergy Louisiana

Financial transmission rights

Purchased power expense

$2.1

(b)

Entergy Mississippi

Financial transmission rights

Purchased power expense

$3.3

(b)

Entergy New Orleans

Financial transmission rights

Purchased power expense

$4.6

(b)

Entergy Texas

The effects of derivative instruments not designated as hedging instruments on the Registrant Subsidiaries’ income statements for the six months ended June 30, 2025 and 2024 are as follows:

Instrument

Income Statement Location

Amount of gain
(loss) recorded
in the income statement

Registrant

(In Millions)

2025

Natural gas swaps

Fuel, fuel-related expenses, and gas purchased for resale

($1.2)

(a)

Entergy Mississippi

Financial transmission rights

Purchased power expense

$28.2

(b)

Entergy Arkansas

Financial transmission rights

Purchased power expense

$64.1

(b)

Entergy Louisiana

Financial transmission rights

Purchased power expense

$5.1

(b)

Entergy Mississippi

Financial transmission rights

Purchased power expense

$11.1

(b)

Entergy New Orleans

Financial transmission rights

Purchased power expense

$5.8

(b)

Entergy Texas

2024

Natural gas swaps

Fuel, fuel-related expenses, and gas purchased for resale

$2.3

(a)

Entergy Mississippi

Natural gas swaps

Fuel, fuel-related expenses, and gas purchased for resale

$0.5

(a)

Entergy New Orleans

Financial transmission rights

Purchased power expense

$38.9

(b)

Entergy Arkansas

Financial transmission rights

Purchased power expense

$41.2

(b)

Entergy Louisiana

Financial transmission rights

Purchased power expense

$3.1

(b)

Entergy Mississippi

Financial transmission rights

Purchased power expense

$4.4

(b)

Entergy New Orleans

Financial transmission rights

Purchased power expense

$12.1

(b)

Entergy Texas

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

Entergy New Orleans


2025	Level 1	Level 2	Level 3	Total
	(In Millions)
Assets:


Storm reserve escrow account	$75.1	$—	$—	$75.1

Financial transmission rights	—	—	3.0	3.0
	$75.1	$—	$3.0	$78.1


2024	Level 1	Level 2	Level 3	Total
	(In Millions)
Assets:
Temporary cash investments	$31.4	$—	$—	$31.4
Securitization recovery trust account	1.6	—	—	1.6
Storm reserve escrow account	83.7	—	—	83.7
Financial transmission rights	—	—	1.3	1.3
	$116.7	$—	$1.3	$118.0

Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation


	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas
	(In Millions)
Balance as of April 1,	$3.0	$3.4	($0.1)	$0.4	$0.4
Issuances of financial transmission rights	11.8	28.7	1.5	3.0	4.0
Gains included as a regulatory liability/asset	5.8	38.2	3.1	8.4	1.8
Settlements	(9.5)	(42.0)	(3.1)	(8.8)	(2.3)
Balance as of June 30,	$11.1	$28.3	$1.4	$3.0	$3.9


	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas
	(In Millions)
Balance as of April 1,	$2.8	$4.1	$0.6	$0.5	$1.2
Issuances of financial transmission rights	17.6	21.6	3.9	2.8	7.3
Gains included as a regulatory liability/asset	7.7	19.1	1.2	2.6	2.7
Settlements	(12.0)	(25.0)	(2.1)	(3.3)	(4.6)
Balance as of June 30,	$16.1	$19.8	$3.6	$2.6	$6.6


	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas
	(In Millions)
Balance as of January 1,	$8.6	$8.6	($0.5)	$1.3	$1.9
Issuances of financial transmission rights	11.8	28.7	1.5	2.9	4.0
Gains included as a regulatory liability/asset	18.9	55.1	5.5	9.9	3.8
Settlements	(28.2)	(64.1)	(5.1)	(11.1)	(5.8)
Balance as of June 30,	$11.1	$28.3	$1.4	$3.0	$3.9


	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas
	(In Millions)
Balance as of January 1,	$6.0	$9.8	$1.4	$1.1	$2.4
Issuances of financial transmission rights	17.6	21.6	3.9	2.8	7.3
Gains included as a regulatory liability/asset	31.4	29.6	1.4	3.1	9.0
Settlements	(38.9)	(41.2)	(3.1)	(4.4)	(12.1)
Balance as of June 30,	$16.1	$19.8	$3.6	$2.6	$6.6

Entergy Texas [Member]

Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location [Table Text Block]


Instrument	Balance Sheet Location	Gross Fair Value (a)	Offsetting Position (b)	Net Fair Value (c) (d)	Registrant
		(In Millions)
2025
Assets:







Financial transmission rights	Prepayments and other	$11.1	$—	$11.1	Entergy Arkansas
Financial transmission rights	Prepayments and other	$28.6	($0.3)	$28.3	Entergy Louisiana
Financial transmission rights	Prepayments and other	$1.5	($0.1)	$1.4	Entergy Mississippi
Financial transmission rights	Prepayments and other	$3.0	$—	$3.0	Entergy New Orleans
Financial transmission rights	Prepayments and other	$4.5	($0.6)	$3.9	Entergy Texas

Liabilities:





Natural gas swaps	Other current liabilities	$3.0	$—	$3.0	Entergy Mississippi


Instrument	Balance Sheet Location	Gross Fair Value (a)	Offsetting Position (b)	Net Fair Value (c) (d)	Registrant
		(In Millions)
2024
Assets:


Natural gas swaps	Prepayments and other	$1.6	$—	$1.6	Entergy Mississippi


Financial transmission rights	Prepayments and other	$8.6	($0.1)	$8.5	Entergy Arkansas
Financial transmission rights	Prepayments and other	$8.7	($0.1)	$8.6	Entergy Louisiana

Financial transmission rights	Prepayments and other	$1.3	$—	$1.3	Entergy New Orleans
Financial transmission rights	Prepayments and other	$2.0	($0.1)	$1.9	Entergy Texas

Liabilities:
Financial transmission rights	Other current liabilities	($0.4)	$0.9	$0.5	Entergy Mississippi

(a)Represents the gross amounts of recognized assets/liabilities

(b)Represents the netting of fair value balances with the same counterparty

(c)Represents the net amounts of assets/liabilities presented on the Registrant Subsidiaries’ balance sheets

Derivatives Not Designated as Hedging Instruments [Table Text Block]

The effects of derivative instruments not designated as hedging instruments on the Registrant Subsidiaries’ income statements for the three months ended June 30, 2025 and 2024 are as follows:

Instrument

Income Statement Location

Amount of gain
(loss) recorded
in the income statement

Registrant

(In Millions)

2025

Natural gas swaps

Fuel, fuel-related expenses, and gas purchased for resale

$11.4

(a)

Entergy Mississippi

Financial transmission rights

Purchased power expense

$9.5

(b)

Entergy Arkansas

Financial transmission rights

Purchased power expense

$42.0

(b)

Entergy Louisiana

Financial transmission rights

Purchased power expense

$3.1

(b)

Entergy Mississippi

Financial transmission rights

Purchased power expense

$8.8

(b)

Entergy New Orleans

Financial transmission rights

Purchased power expense

$2.3

(b)

Entergy Texas

2024

Natural gas swaps

Fuel, fuel-related expenses, and gas purchased for resale

($3.0)

(a)

Entergy Mississippi

Financial transmission rights

Purchased power expense

$12.0

(b)

Entergy Arkansas

Financial transmission rights

Purchased power expense

$25.0

(b)

Entergy Louisiana

Financial transmission rights

Purchased power expense

$2.1

(b)

Entergy Mississippi

Financial transmission rights

Purchased power expense

$3.3

(b)

Entergy New Orleans

Financial transmission rights

Purchased power expense

$4.6

(b)

Entergy Texas

The effects of derivative instruments not designated as hedging instruments on the Registrant Subsidiaries’ income statements for the six months ended June 30, 2025 and 2024 are as follows:

Instrument

Income Statement Location

Amount of gain
(loss) recorded
in the income statement

Registrant

(In Millions)

2025

Natural gas swaps

Fuel, fuel-related expenses, and gas purchased for resale

($1.2)

(a)

Entergy Mississippi

Financial transmission rights

Purchased power expense

$28.2

(b)

Entergy Arkansas

Financial transmission rights

Purchased power expense

$64.1

(b)

Entergy Louisiana

Financial transmission rights

Purchased power expense

$5.1

(b)

Entergy Mississippi

Financial transmission rights

Purchased power expense

$11.1

(b)

Entergy New Orleans

Financial transmission rights

Purchased power expense

$5.8

(b)

Entergy Texas

2024

Natural gas swaps

Fuel, fuel-related expenses, and gas purchased for resale

$2.3

(a)

Entergy Mississippi

Natural gas swaps

Fuel, fuel-related expenses, and gas purchased for resale

$0.5

(a)

Entergy New Orleans

Financial transmission rights

Purchased power expense

$38.9

(b)

Entergy Arkansas

Financial transmission rights

Purchased power expense

$41.2

(b)

Entergy Louisiana

Financial transmission rights

Purchased power expense

$3.1

(b)

Entergy Mississippi

Financial transmission rights

Purchased power expense

$4.4

(b)

Entergy New Orleans

Financial transmission rights

Purchased power expense

$12.1

(b)

Entergy Texas

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

Entergy Texas


2025	Level 1	Level 2	Level 3	Total
	(In Millions)
Assets:
Temporary cash investments	$17.7	$—	$—	$17.7
Securitization recovery trust account	1.0	—	—	1.0
Financial transmission rights	—	—	3.9	3.9
	$18.7	$—	$3.9	$22.6


2024	Level 1	Level 2	Level 3	Total
	(In Millions)
Assets:
Temporary cash investments	$184.7	$—	$—	$184.7
Securitization recovery trust account	2.7	—	—	2.7
Financial transmission rights	—	—	1.9	1.9
	$187.4	$—	$1.9	$189.3

Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation


	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas
	(In Millions)
Balance as of April 1,	$3.0	$3.4	($0.1)	$0.4	$0.4
Issuances of financial transmission rights	11.8	28.7	1.5	3.0	4.0
Gains included as a regulatory liability/asset	5.8	38.2	3.1	8.4	1.8
Settlements	(9.5)	(42.0)	(3.1)	(8.8)	(2.3)
Balance as of June 30,	$11.1	$28.3	$1.4	$3.0	$3.9


	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas
	(In Millions)
Balance as of April 1,	$2.8	$4.1	$0.6	$0.5	$1.2
Issuances of financial transmission rights	17.6	21.6	3.9	2.8	7.3
Gains included as a regulatory liability/asset	7.7	19.1	1.2	2.6	2.7
Settlements	(12.0)	(25.0)	(2.1)	(3.3)	(4.6)
Balance as of June 30,	$16.1	$19.8	$3.6	$2.6	$6.6


	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas
	(In Millions)
Balance as of January 1,	$8.6	$8.6	($0.5)	$1.3	$1.9
Issuances of financial transmission rights	11.8	28.7	1.5	2.9	4.0
Gains included as a regulatory liability/asset	18.9	55.1	5.5	9.9	3.8
Settlements	(28.2)	(64.1)	(5.1)	(11.1)	(5.8)
Balance as of June 30,	$11.1	$28.3	$1.4	$3.0	$3.9


	Entergy Arkansas	Entergy Louisiana	Entergy Mississippi	Entergy New Orleans	Entergy Texas
	(In Millions)
Balance as of January 1,	$6.0	$9.8	$1.4	$1.1	$2.4
Issuances of financial transmission rights	17.6	21.6	3.9	2.8	7.3
Gains included as a regulatory liability/asset	31.4	29.6	1.4	3.1	9.0
Settlements	(38.9)	(41.2)	(3.1)	(4.4)	(12.1)
Balance as of June 30,	$16.1	$19.8	$3.6	$2.6	$6.6

System Energy [Member]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

System Energy


2025	Level 1	Level 2	Level 3	Total
	(In Millions)
Assets:
Temporary cash investments	$31.7	$—	$—	$31.7
Decommissioning trust funds (a):
Equity securities	4.1	—	—	4.1
Debt securities	258.6	323.5	—	582.1
Common trusts (b)				1,020.1
	$294.4	$323.5	$—	$1,638.0


2024	Level 1	Level 2	Level 3	Total
	(In Millions)
Assets:
Temporary cash investments	$28.5	$—	$—	$28.5
Decommissioning trust funds (a):
Equity securities	2.4	—	—	2.4
Debt securities	262.4	297.4	—	559.8
Common trusts (b)				966.9
	$293.3	$297.4	$—	$1,557.6