The long-term success of our company depends on our ability to ensure our employees’ safety, meet our customers’ expectations, deliver superior returns to our investors, conserve and protect our environment and contribute to a healthy, educated and productive society. These are our aspirations, and the challenges we face as an organization.

In our 2006 annual report to shareholders, we articulated specific five-year aspirations for 2006 through 2010. Here is a summary of how we performed in 2008 against key measures in each aspiration.

We aspire to continually deliver top-quartile total shareholder returns. In 2008, we delivered third-quartile total shareholder return of -28.3 percent due largely to unprecedented declines in stock market valuations. Clearly, we are not satisfied with this performance. We remain committed to our overarching financial aspiration to continually deliver top-quartile, positive total shareholder returns over the long term.

We aspire to provide clean, reliable and affordable power in our utility businesses.
In 2008, we set records for the fastest, and safest storm restoration in our company’s history. We continued our efforts to transform our generation portfolio to ensure our customers have access to clean, affordable power until market uncertainty in late 2008 prompted us to temporarily suspend long-term procurement efforts with one exception. We intend to re-engage when conditions stabilize. We also met our cumulative emissions goal under our second voluntary commitment to stabilize our greenhouse gas emissions from 2006 to 2010 at 20 percent below year 2000 levels.

We aspire to operate safe, secure and vital nuclear resources in an environment that is both growing and carbon-constrained. Our non-utility nuclear fleet turned in excellent operating performance, achieving the highest level of generating output since Entergy assumed ownership of these assets. Deteriorating financial market conditions in late 2008 and a longer than planned regulatory approval process caused the spin-off of our non-utility nuclear assets to Entergy shareholders to be delayed. We are now in a position of rolling readiness, prepared to act once we receive acceptable regulatory approvals and the timing is right to access financial markets. We remain committed to maximizing the value that continues to exist in our non-utility nuclear assets.

We aspire to break the cycle of poverty and contribute to a society that is healthy, educated and productive. In 2008, we raised more than $2.3 million in bill payment assistance funds from our customers, employees and shareholders. One hundred percent of these funds go to customers who need help paying their utility bills. Energy efficiency teams are working diligently to help customers reduce their demand and save money.

Our Points of View

We use sophisticated market analyses to develop points of view on key competitive, regulatory, financial, environmental and social issues that impact our operations and our stakeholders. Our points of view are dynamic, changing as market conditions evolve. We use our points of view to determine the strategies we need to execute to achieve our aspirations. Time and again, our point-of-view-driven business model has enabled Entergy to take early mover positions in developing opportunities.

Here are our current points of view on the key issues of safety, diversity and inclusion, environmental protection and preservation and social responsibility.

Safety

Ensuring that every employee and contractor is committed to achieving an accident-free work environment is a core value at Entergy. We foster a safety culture that extends from entry-level employees to the office of the chief executive. We maintain systems that align safety objectives, processes and resources across our organization. We reward behaviors that reinforce that safety is everyone’s job.

Diversity and Inclusion

Building an engaged, diverse work force is vital to our long-term success. We are committed to providing every Entergy employee opportunities to develop, grow and reach their full potential. We value diversity and believe a diverse work force brings greater insight to our operations and contributes to our long-term success. We expect every Entergy employee to embrace and demonstrate these same values in their daily work.

Environmental Protection and Preservation

We believe we have a responsibility to protect and preserve our environment. This responsibility includes conducting our operations in a manner that minimizes our environmental impact and aggressively advocating for responsible environmental public policies and actions from others.

We view the long-term impact of greenhouse gas emissions as an urgent issue with potentially catastrophic implications for our planet. We were the first U.S. utility to voluntarily commit to stabilize its greenhouse gas emissions. After completing our first five-year stabilization commitment in 2005, we made a second commitment to stabilize our CO₂ emissions from 2006 to 2010 at 20 percent below year 2000 levels.

We continue to advocate and shape the debate on carbon policy. We believe that finding a solution for conventional coal plants should be a central goal of U.S. policy-making action.

Social Responsibility

We can succeed as an organization only when the communities we serve are strong. It is our responsibility to contribute to a society that is healthy, educated and productive both within each of the local communities we serve and on a global scale. We support our communities through our corporate giving efforts, the work of the Entergy Charitable Foundation and generous donations by our employees of their time and resources.

We also believe we have a moral responsibility to help break the cycle of poverty. Our Low-Income Initiative helps needy customers by improving the flow of assistance funds, improving their energy efficiency and enabling them to build assets and move toward self-sufficiency.

Our Values

At Entergy, we live and work by a system of shared values intended to guide our interactions with our customers, investors, employees, contractors and vendors. These values are:

• Create and sustain a safe work environment
• Possess a winning spirit
• Focus on our customers
• Grow the business
• Be active team players
• Treat people with respect
• Aggressively look for better ways
• Take actions to achieve results
• Above all, act with integrity

As part of our value system, we maintain our Code of Entegrity, which outlines all of the company’s policies and ethical standards. Every Entergy employee is expected to know and follow the Code. To ensure that our standards are upheld, we’ve contracted with an outside company to operate the toll-free Ethics Line, 1-888-257-ETHIC.

Our aspirations define the many challenges we face as an organization. Our points of view and values define how we will act to address these challenges. Entergy is committed to successfully meeting its safety, environmental, social and economic challenges.