Major Louisiana Power Company Put Up For Sale

(KNGT-FM) - Is your power company about to be sold? One of the state’s biggest electricity providers just announced it's officially up for sale, and the move could bring major changes to how thousands of homes and businesses get their power. We've got everything you need to know about the big change and how it could affect you...

Here's something Louisiana residents might not know...

According to the latest data from PowerOutage.us, Louisiana’s average electricity cost is just 11.67 cents per kilowatt hour, which is lower than the national average. Still, power bills can climb in the summer because of heavy air conditioner use and older homes that aren't energy efficient.

MAJOR LOUISIANA POWER COMPANY IS NOW UP FOR SALE

It is being reported by many news outlets across the State of Louisiana that Cleco is officially up for sale.

Cleco has been around for more than 85 years. The company provides electricity to nearly 300,000 customers in 24 parishes, including many in Central and Southwest Louisiana. Right now, Cleco is owned by a group of investors, but they’ve decided it’s time to sell.

The sale could take several months to complete. Cleco says they’re working with financial experts to find the right buyer, and they’ll keep state leaders updated throughout the process.

How does this affect those in Louisiana who have Cleco?

HOW DOES THIS AFFECT LOUISIANA RESIDENTS WITH CLECO?

So, how does this affect Louisiana residents with Cleco? For now, not much will change per a report from WWL-TV. Your lights will stay on, and your bill will still come from Cleco. But depending on who buys the company, things could shift down the road. Now, according to numerous reports, there are no plans to raise rates while the company is searching for a potential buyer.

Even when a new owner is found, they will not be able to raise rates for an additional three years.