PINEVILLE, La. (AP) — Cleco customers will get a one-time $475 credit on their energy bills starting in July as part of the electric utility's sale.

The credit will cover several months of free electricity for the average customer.

An investor group led by New York-based Macquarie Infrastructure and Real Assets bought Cleco Corp. in April. The state Public Service Commission approved the $4.7 billion sale in March. Times-Picayune reports the final agreement includes an array of sweeteners, including $136 million in electricity bill credits for customers and $7 million in grants to be administered by the state economic developers in Cleco's service territory.

About 286,000 customers will receive a one-time credit averaging about $475. Credits will be applied to monthly bills starting in July until they run out.

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