Cleco Customers Getting Refund, Lower Rates
BATON ROUGE, La. (AP) — Cleco Power customers will see a reduction in their bills and get a refund under a rate plan approved by the Louisiana Public Service Commission.
Cleco is based in Pineville.
The Advocate reports (http://bit.ly/1njRyEb ) the approval extends Cleco Power’s formula rate plan for four years, reducing its base rates for customers by $34 million. That’s equal to an annual decrease of $84 for an average residential customer’s bill.
The one-time refund totals $22 million, or $46 for an average residential customer. Cleco said Wednesday the refund will be included on September bills.
Cleco said the plan also includes a rate of return and mechanism to fund future growth transactions for the utility.
Cleco Power serves about 284,000 customers in Louisiana.
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