Our Cleco, Our Community
This petition had 2,284 supporters
Cleco Power, the oldest of Louisiana's major electric utilities, is the target of a private equity takeover by a foreign-owned investment group. They say customers won't notice the difference, but the history of the potential buyers tells a different story.
Cleco customers already pay the highest rates in Louisiana, 30% higher than the average! If this consortium of investors is allowed to purchase this century old Louisiana company, rates are likely to climb even higher.
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.
This deal is unfair to customers who are at the mercy of the monopoly utility and cannot walk away with golden parachutes like the executives, who stand to gain millions from the sale.
Keep Cleco local, and tell your Public Service Commissioner Louisiana cannot afford to take this risky bet. Sign this petition to tell them to reject this deal.
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