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Cleco customers see lower bills through one-time credit

PINEVILLE, La., June 27, 2016 - All retail Cleco customers will see lower energy bills beginning July 1, 2016, thanks to a one-time credit of approximately $475 per customer account. The Louisiana Public Service Commission (LPSC) ordered the credit as part of a set of commitments the new owners agreed upon to acquire the company.

Cleco customers who have a valid 13-digit account number at the close of business on June 30, 2016, will be eligible for the credit. Cleco will apply the credit to each account for those customers with multiple accounts.

"We are pleased the credit is coming at a time when our customers begin to use more energy because of the summer heat,” said Shirley Turner, vice president of customer experience. “For many of our customers a portion of the credit will roll over for several months. This will be a big help to those who struggle to cover all of their bills each month.

Cleco will apply the total credit of approximately $475 to a customer’s bill in July. If the customer’s bill for July is less than the credit amount, a credit balance will roll over to the August bill. The credit balance will continue to roll over each month until the credit is fully exhausted.

"This credit is just one way we are showing our commitment to our customers and ensuring they receive a direct benefit from our transaction,” said Darren Olagues, CEO and president of Cleco. “Supporting our customers and the communities where we live and work will remain a top priority for us as we plan for our company’s future.

Cleco was purchased by a North American-led investor group in April. To gain approval for the sale, Cleco’s new owners agreed to 77 commitments that benefit the company’s customers, employees, retirees and the communities served.

Cleco Power LLC is a regulated electricity utility company, which is engaged principally in the generation, transmission, distribution, and sale of electricity, primarily in Louisiana. Cleco Power owns 10 generating units with a total nameplate capacity of 3,333 megawatts. Cleco Power serves approximately 287,000 customers in Louisiana through its retail business, and it supplies wholesale power in Louisiana and Mississippi. For more information about Cleco, visit www.cleco.com.

Media Contact:

Robbyn Cooper 
(318) 484-7136

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