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PSC Grills Cleco's Top Exec About Possible Sale Of Company

PSC Grills Cleco's Top Exec About Possible Sale Of Company
Posted Wednesday, August 6th 2014 @ 3pm

Members of the Louisiana Public Service Commission (PSC), the state's utilities regulator, grilled Cleco Corporation's top executive Wednesday about the possible sale of the Pineville-based utility.

In June, Cleco confirmed that several companies had expressed interest in buying the company. Since then, PSC members have expressed concerns that a sale would not be in the best interests of the state or its ratepayers. 

Cleco President/CEO Bruce Williamson told the PSC Cleco officials have responded to outside offers to buy the company but have not initiated offers to sell the company.

Eric Skrmetta, who represents southeast Louisiana on the PSC, told Williamson he might wanna bring his climbing spikes because it'll be tough getting PSC approval of a sale.

"Anybody that's an IOU, an investor-owned utility, that comes to buy your company is not gonna gain any support from me because I am interested in keeping this company intact," Skrmetta said.


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