Town Hall Meeting About Cleco In New Iberia

The Alliance for Affordable Energy group is sponsoring a town hall meeting in New Iberia tomorrow night for Cleco customers at the Cyr-Gates Community Center in City Park.

Alliance representatives are concerned that a takeover of Cleco will mean higher prices to Cleco customers.

The meeting will be held from 5 p.m. to 7 p.m. tomorrow, Thursday, February 18 in City Park at 300 Parkview Dr. in New Iberia.

Alliance for Affordable Energy contends that " the private equity takeover by a foreign-owned investment group" will mean higher prices for customers.  They also contend that Cleco customers already pay the highest utility cost in the state of Louisiana.  They say the average customer ends up paying 30% percent higher rates for their services.

Part of the statement by Alliance for Affordable Energy reads,

"Because the takeover is structured as a leveraged buyout, an enormous amount of debt would be piled onto Cleco, with only the customers' money to pay it back."

The event tomorrow evening is free and open to the public.

The Alliance for Affordable Energy says they work to help get fair and affordable rates for consumers through advocacy and education.

The deal is still pending approval by the Louisiana Public Service Commission.