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Started By
Message
Cleco agrees to sale to Bernhard, Stonepeak Energy
Posted on 4/27/26 at 11:17 am
Posted on 4/27/26 at 11:17 am
quote:
The owners of Cleco Power have reached an agreement to sell the electric utility to Stonepeak Energy and Bernhard Capital Partners in a deal that will keep the firm headquartered in central Louisiana.
Nola.com link (not sure if paywalled, but I could see it)
quote:
The sale will need approval from the Public Service Commission, the five-member regulator of electric and gas utilities. When Macquarie first bought Cleco, the PSC made a host of conditions, including keeping the firm headquartered in Pineville and maintaining existing salaries and benefits for 1,200 employees.
12
Posted on 4/27/26 at 11:23 am to SaintEB
Bernhard doing work with New Orleans gas purchase.
Good luck Cleco customers. Yall bout to get fricked.
Good luck Cleco customers. Yall bout to get fricked.
This post was edited on 4/27/26 at 11:25 am
Posted on 4/27/26 at 11:24 am to SaintEB
I am glad the buyers have to keep the corp office in place and headcount will not be messed with.
Posted on 4/27/26 at 11:57 am to SaintEB
The fact that the title is "Cleco’s owners have agreed to sell the company. See who is buying it." annoys me. The click bait titles that no longer give any info is really a PITA.
Posted on 4/27/26 at 12:04 pm to fightin tigers
quote:
Good luck Cleco customers. Yall bout to get fricked.
I’m a little worried about it, at least Entergy didn’t buy it.
Posted on 4/27/26 at 12:23 pm to fightin tigers
quote:
Good luck Cleco customers. Yall bout to get fricked.
Not only customers but the employees.
Rodemacher unit 3 was supposed to slightly raise base rates while lowering fuel costs. At least that was the proposal. Don’t think that has been the case. CLECO lost the Dolet Hills power plant and it was a low cost producer of electricity. At one time CLECO had one of the lowest fuel costs in the state. Not the case now.
Unfortunately, over the years some very good employees and leaders got ran off from the company. Can only imagine what the company would look like if those good employees had stayed. Waiting to cheer for one ( hopefully) dismissal.
This post was edited on 4/27/26 at 12:37 pm
Posted on 4/27/26 at 1:30 pm to LCrox
quote:
Waiting to cheer for one ( hopefully) dismissal.
Do tell
Posted on 4/27/26 at 2:54 pm to unlimited
That’s two utilities changing ownership in on year. Centerpoint now Cleco
Posted on 4/27/26 at 2:55 pm to VernonPLSUfan
When can we expect to receive a $600 credit and then they double the electricity cost?
Posted on 4/27/26 at 3:03 pm to SaintEB
Ah, the private equity hamster wheel. Cleco will be sold in another 5 years (+/- 2 years), once the funds' IRR goals are achieved.
Posted on 4/27/26 at 3:17 pm to SaintEB
quote:
PSC
Don't expect any help from them. They are worthless.
Posted on 4/27/26 at 3:23 pm to SaintEB
Soon all utilities will be PE. We will own nothing and be happy. New Orleans is dealing with Bernard if I recall and their gas bills have skyrocketed. This is depressing.
Posted on 4/27/26 at 3:44 pm to SaintEB
quote:
Cleco agrees to sale to Bernhard, Stonepeak Energy
Cleco agrees to sell Stonepeak Energy to Bernhard?
Posted on 4/27/26 at 3:52 pm to SaintEB
Wasn't CLECO already bought out 4-5 years ago by an Australian company?
CLECO customers been screwed since that. Their rates are high compared to the co-ops.
CLECO customers been screwed since that. Their rates are high compared to the co-ops.
Posted on 4/27/26 at 3:58 pm to jasonbr1975
and some want private equity running college sports
god help us
god help us
Posted on 4/27/26 at 3:59 pm to nicholastiger
Cleco has been raping their customers for years. Glad I have Entergy.
Posted on 4/27/26 at 4:01 pm to nicholastiger
Corporations are people too!
Posted on 4/27/26 at 6:22 pm to jasonbr1975
quote:
Wasn't CLECO already bought out 4-5 years ago by an Australian company?
It was over 10 years ago. Public service commission usually requires a minimum hold of 10 years on these types of transactions.
Posted on 4/27/26 at 6:27 pm to SaintEB
They’ll have all the big dollar business consultants working those rate cases. Hope those commissioners are ready for hundreds of pages of McKinsey Claude generated graphs.
Posted on 4/27/26 at 7:33 pm to SaintEB
quote:
Cleco agrees to sale to Bernhard, Stonepeak Energy Posted by SaintEB 4/27/26 at 11:17 am
SELL
Not sale, sail or cell …SELL
Sorry , this one triggers me
This post was edited on 4/27/26 at 7:36 pm
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