Cleco has had a longstanding debate with the city of Alexandria over an alleged rate fraud incident. Cleco is going to be forced to pay about $60 millions back to rate payers, and this news devalued the company's stock.
Cleco Announced the addition of Logan Kruger to the Company's board. Kruger is the President and CEO of Century Aluminum based in California, and has previously worked for a mining company. Cleco choose Kruger to help its Midsteeam business and to ensure the timely completion of Rodemacher 3. His experience is a valuable addition to the company's advisory board.