Entergy Mississippi, Inc.  Management’s Financial Discussion and Analysis The net wholesale revenue variance is primarily due to Entergy Mississippi’s exit from the System Agreement in November 2015.
The reserve equalization revenue variance is primarily due to the absence of reserve equalization revenue as compared to the same period in 2015 resulting from Entergy Mississippi’s exit from the System Agreement in November 2015.2015 Compared to 2014 Net revenue consists of operating revenues net of: 1) fuel, fuel-related expenses, and gas purchased for resale, 2) purchased power expenses, and 3) other regulatory charges.
Following is an analysis of the change in net revenue comparing 2015 to 2014.
## Table 0 ##
The volume/weather variance is primarily due to an increase of 86 GWh, or 1%, in billed electricity usage, including the effect of more favorable weather on residential and commercial sales.
The retail electric price variance is primarily due to a $16 million net annual increase in revenues, effective February 2015, as a result of the MPSC order in the June 2014 rate case and an increase in revenues collected through the energy efficiency rider, partially offset by a decrease in revenues collected through the storm damage rider.
The rate case included the realignment of certain costs from collection in riders to base rates.
See Note 2 to the financial statements for a discussion of the rate case, the energy efficiency rider, and the storm damage rider.
The net wholesale revenue variance is primarily due to a wholesale customer contract termination in October 2015.
Transmission equalization revenue represents amounts received by Entergy Mississippi from certain other Entergy Utility operating companies, in accordance with the System Agreement, to allocate the costs of collectively planning, constructing, and operating Entergy’s bulk transmission facilities.
The transmission equalization variance is primarily attributable to the realignment, effective February 2015, of these revenues from the determination of base rates to inclusion in a rider.
Such revenues had a favorable effect on net revenue in 2014, but minimal effect in 2015.
Entergy Mississippi exited the System Agreement in November 2015.
See Note 2 to the financial statements for a discussion of the System Agreement.
Reserve equalization revenue represents amounts received by Entergy Mississippi from certain other Entergy Utility operating companies, in accordance with the System Agreement, to allocate the costs of collectively maintaining adequate electric generating capacity across the Entergy System.
The reserve equalization variance is primarily attributable to the realignment, effective February 2015, of these revenues from the determination of base rates to inclusion in a rider.
Such revenues had a favorable effect on net revenue in 2014, but minimal effect in 2015.
Entergy
PART II Item 5.
Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities Our common stock began trading on the New York Stock Exchange (‘‘NYSE’’) under the symbol ‘‘PFG’’ on October 23, 2001.
Prior to such date, there was no established public trading market for our common stock.
On February 9, 2011, there were 429,690 stockholders of record of our common stock.
The following table presents the high and low prices for our common stock on the NYSE for the periods indicated and the dividends declared per share during such periods.
## Table 1 ##
We declared an annual cash dividend of $0.55 per common share on November 1, 2010, and paid such dividend on December 3, 2010, to stockholders of record on the close of business on November 19, 2010.
We declared an annual cash dividend of $0.50 per common share on October 26, 2009, and paid such dividend on December 4, 2009, to stockholders of record on the close of business on November 13, 2009.
Future dividend decisions will be based on and affected by a number of factors, including our operating results and financial requirements and the impact of regulatory restrictions.
See Item 7.
‘‘Management’s Discussion and Analysis of Financial Condition and Results of Operations — Liquidity and Capital Resources’’ for a discussion of regulatory restrictions on Principal Life’s ability to pay us dividends.
The following table presents the amount of our share purchase activity for the periods indicated: Issuer Purchases of Equity Securities
## Table 2 ##
(1) Reflects the number of shares of common stock utilized to execute certain stock incentive awards in 2009.
(2) During November 2007, our Board of Directors authorized a share repurchase program of up to $500.0 million of our outstanding common stock.
As of December 31, 2010, $250.0 million remained under the November 2007 authorization.
We suspended purchases of our common stock effective October 13, 2008, under the existing share repurchase program.
value of the assets in these portfolios was $24,720.0 million and $22,497.1 million as of December 31, 2010 and 2009, respectively.
Non Duration-Managed.
We also have a block of participating general account pension business that passes most of the actual investment performance of the assets to the customer.
The investment strategy of this block is to maximize investment return to the customer on a ‘‘best efforts’’ basis, and there is little or no attempt to manage the duration of this portfolio since there is little or no interest rate risk.
The value of the assets in these portfolios was $5,167.8 million and $5,745.5 million as of December 31, 2010 and 2009, respectively.
Using the assumptions and data in effect as of December 31, 2010, we estimate that a 100 basis point immediate, parallel increase in interest rates increases the net fair value of our portfolio by approximately $455.4 million, compared with an estimated $71.1 million increase as of December 31, 2009.
The following table details the estimated changes by risk management strategy.
The table also gives the weighted-average duration of the asset portfolio for each category, and the net duration gap (i. e. , the weighted-average difference between the asset and liability durations).

Tables referenced above, in order (Table 0 first):
<table><tr><td></td><td>Amount (In Millions)</td></tr><tr><td>2014 net revenue</td><td>$701.2</td></tr><tr><td>Volume/weather</td><td>8.9</td></tr><tr><td>Retail electric price</td><td>7.3</td></tr><tr><td>Net wholesale revenue</td><td>-2.7</td></tr><tr><td>Transmission equalization</td><td>-5.4</td></tr><tr><td>Reserve equalization</td><td>-5.5</td></tr><tr><td>Other</td><td>-7.5</td></tr><tr><td>2015 net revenue</td><td>$696.3</td></tr></table>
<table><tr><td> </td><td> High</td><td> Low</td><td> Dividends</td></tr><tr><td> 2010</td><td></td><td></td><td></td></tr><tr><td>First quarter</td><td>$29.61</td><td>$20.89</td><td>—</td></tr><tr><td>Second quarter</td><td>$31.41</td><td>$23.33</td><td>—</td></tr><tr><td>Third quarter</td><td>$26.64</td><td>$21.19</td><td>—</td></tr><tr><td>Fourth quarter</td><td>$33.34</td><td>$25.42</td><td>$0.55</td></tr><tr><td> 2009</td><td></td><td></td><td></td></tr><tr><td>First quarter</td><td>$24.80</td><td>$5.41</td><td>—</td></tr><tr><td>Second quarter</td><td>$24.90</td><td>$7.74</td><td>—</td></tr><tr><td>Third quarter</td><td>$30.87</td><td>$16.77</td><td>—</td></tr><tr><td>Fourth quarter</td><td>$30.07</td><td>$22.20</td><td>$0.50</td></tr></table>
<table><tr><td> Period</td><td> Total Number of Shares (or Units) Purchased (1)</td><td> Average Price Paid per Share (or Unit)</td><td> Total Number of Shares (or Units) Purchased as Part of Publicly Announced Plans or Programs</td><td> Maximum Number (or Approximate Dollar Value) of Shares (or Units) that May Yet Be Purchased Under the Plans or Programs (in millions) (2)</td></tr><tr><td>January 1, 2010 — January 31, 2010</td><td> 9,357</td><td>$24.11</td><td> —</td><td>$250.0</td></tr><tr><td>February 1, 2010 — February 28, 2010</td><td> 40</td><td>$25.26</td><td> —</td><td>$250.0</td></tr><tr><td>March 1, 2010 — March 31, 2010</td><td> 66,944</td><td>$23.22</td><td> —</td><td>$250.0</td></tr><tr><td>April 1, 2010 — April 30, 2010</td><td> 9,411</td><td>$25.68</td><td> —</td><td>$250.0</td></tr><tr><td>May 1, 2010 — May 31, 2010</td><td> 403</td><td>$23.24</td><td> —</td><td>$250.0</td></tr><tr><td>June 1, 2010 — June 30, 2010</td><td> —</td><td>$—</td><td> —</td><td>$250.0</td></tr><tr><td>July 1, 2010 — July 31, 2010</td><td> 8,794</td><td>$23.85</td><td> —</td><td>$250.0</td></tr><tr><td>August 1, 2010 — August 31, 2010</td><td> 891</td><td>$25.07</td><td> —</td><td>$250.0</td></tr><tr><td>September 1, 2010 — September 30, 2010</td><td> 3,428</td><td>$23.21</td><td> —</td><td>$250.0</td></tr><tr><td>October 1, 2010 — October 31, 2010</td><td> 1,657</td><td>$26.80</td><td> —</td><td>$250.0</td></tr><tr><td>November 1, 2010 — November 30, 2010</td><td> —</td><td>$—</td><td> —</td><td>$250.0</td></tr><tr><td>December 1, 2010 — December 31, 2010</td><td> 6,077</td><td>$29.33</td><td> —</td><td>$250.0</td></tr><tr><td>Total</td><td> 107,002</td><td></td><td> —</td><td></td></tr></table>

Question: No.what month is Average Price Paid per Share (or Unit) the highest?
Answer: 12