According to the Louisiana Radio Network, Cleco has begun the process of finding a new owner, notifying the Louisiana Public Service Commission (PSC) as required. This move was expected, as Cleco’s 2016 private equity buyout included plans for a future sale. Pineville Representative Mike Johnson says the announcement didn’t come as a surprise.
“We knew that when it was sold 10 or so years ago that those investors didn’t intend to run an energy company for very long. It was an investment.”
Johnson emphasized that the process is in its early stages, and a sale is unlikely before December 2026. Any buyer must keep Cleco’s headquarters in Pineville and not increase its rates.
“Cleco currently is one of the highest rates in the state, and we would not want obviously, any transfer to be on the backs of our rate payers in our district, but all across Louisiana.”
Johnson reaffirmed support for local jobs and services, urging the PSC to require job protections, and says it’s critical to the local economy.
“It’s so important to our community and those employees to our community that we want to really make sure that they employ those criteria for our folks.”
Cleco serves 300,000 customers across 24 parishes and remains under regulatory oversight.