PSC Schedules Another Hearing On CLECO Sale Today
There has been much discussion. There have been comments on the record by members of the state's Public Service Commission. The request has been denied already. Still, member of the PSC will hear from representatives of CLECO, the Central Louisiana Electric Cooperative and Macquarie Infrastructures over the proposed sale of CLECO to Macquerie.
Last month the PSC denied the plan acquisition. This time CLECO and Macquerie are coming to the table with revisions to the sale that according to their spokesmen would benefit the CLECO customer and the CLECO employee.
The sticking point on the acquisition, at least in the minds of a few members of the PSC, has to do with rate. Foster Campbell told the Louisiana Radio Network about the revised plan.
The rate payers are paying the highest rate in the state, and they're promising a little bit but it's not enough.
Meanwhile Commissioner Lambert Boissiere echos the spirit of Campbell's remarks.
The people need to do well in the sale, more than anyone else.
The revisions that have been made in the proposed acquisition include $100 million in rate relief for CLECO customers, and a $15 million contribution to economic development in Louisiana.
Meanwhile PSC Commission Chairman Clyde Holloway still wants to know where this money is coming from.
I hear they are going to pay 40-something million to the vice presidents and the CEO, who is a rascal. I think that is the biggest issue. Their free-ness with money.