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Cleco customers to see over $84.5 million in savings

PINEVILLE, La. – July 31, 2019 – Beginning tomorrow, the average Cleco customer will see a bill credit of approximately $14 a month for the next 12 months.  The benefit stems from the Tax Cuts and Jobs Act (TCJA) which reduces the company’s corporate tax rate and is being passed along to customers. 

“Cleco has been accruing the TCJA savings and preparing to refund our customers,” said Shane Hilton, president of Cleco Power.  “Last month, our plan to credit customers over $84 million gained approval from the Louisiana Public Service Commission.”

TCJA decreases the corporate tax rate from 35 percent to 21 percent, reducing the amount of federal income tax Cleco is required to pay.  Cleco provided the Louisiana Public Service Commission (LPSC) with a plan as to how these tax-related benefits could be flowed through to the company’s Louisiana customers. 

“A ‘TCJA Bill Credit’ line item will appear on customer bills beginning August 2019 through July 2020,” said Hilton.  “We thank the LPSC for their guidance and support to bring this benefit to our customers.” 

To learn more about Cleco, visit www.cleco.com or follow the company on Facebook at @ClecoPower.

Cleco Corporate Holdings LLC is a regional energy holding company that conducts its business operations through its subsidiaries, Cleco Power LLC and Cleco Cajun LLC. Cleco Power is a regulated electric public utility company that owns nine generating assets with a total nameplate capacity of 3,310 MWs and serves approximately 290,000 customers in Louisiana through its retail business and supplies wholesale power in Louisiana and Mississippi.  Cleco Cajun is an unregulated utility company that owns eight generating assets with a total nameplate capacity of 3,555 MWs, with contracts serving nine Louisiana cooperatives, five wholesale municipal customers and one electric utility.  For more information about Cleco, visit us at www.cleco.com

Media Contact

Jennifer Cahill

318-484-7411

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