“Cleco Corp.’s proposed $4.9 billion sale to a private group of companies prompted a bevy of questions Thursday from the utility’s customers in Iberia Parish: Why sell the company? Will the rates go up? And why is CEO Bruce Williamson going to walk away with almost $30 million?” reports Billy Gunn.
“We really do not feel that this deal is in the customers’ best interest,” said AAE’s Yvonne Cappel-Vickery. Cleco already has the most expensive electricity in the state and that the deal with Macquarie would boost the rates higher.
Billy Gunn reports that in a letter to Cleco customers District 4 Commissioner Clyde Holloway said he “has grave concerns regarding the sale of Cleco.”
