Overview
Cleco Corporate Holdings LLC, headquartered in Pineville, Louisiana, is a prominent entity in the regulated electric utility arena, serving around 290,000 retail customers across 24 parishes in Louisiana. Founded in 1935, Cleco has established a solid reputation as a dependable energy provider with a focus on operational excellence, community involvement, and sustainability. The company has set ambitious targets to become Louisiana's leading clean energy provider, aiming for a 60% reduction in carbon emissions by 2030 and achieving net zero emissions by 2050.
Key Business Operations
Cleco's primary operations encompass the generation, transmission, distribution, and sale of electricity under its subsidiary, Cleco Power LLC. The company has consistently invested in enhancing its infrastructure, including implementing a comprehensive vegetation management program to ensure reliable power supply and strong storm response capabilities.
Leadership
Executive Team
- William "Bill" Fontenot: President & CEO, guiding Cleco's strategic direction since 2018, focusing on regional energy operations.
- Robert Breedlove: Chief Operations Officer, responsible for generation operations, engineering, and construction, acclaimed for significant improvements in safety and initiatives like the 'Power of a Promise Scholarship.'
- Kristin Guillory: Chief Financial Officer, leading financial operations, with a transformative role since 2021 after 17 years at Cleco.
- Mark Kleehammer: General Counsel & Chief Regulatory Officer, managing legal and regulatory affairs since joining in 2023.
- Justin "Shane" Hilton: Chief Commercial Officer, overseeing commercial aspects, including marketing and energy management.
- Sybil Montegut: Chief Administrative & Sustainability Officer, focusing on sustainability and administrative functions, highlighting Cleco's environmental commitment since January 2024.
- Andre Guillory: Chief Customer Officer, leading customer experience and distribution since 2006, with a strong background in engineering and customer service.
Governance
Cleco's governance is reinforced by a Board of Managers and various committees ensuring robust governance and compliance. Peggy Scott acts as the chairperson of Cleco’s Boards of Managers, bringing extensive experience in the energy utility sector.
Community and Sustainability Initiatives
Cleco actively participates in community engagement through its 'Done in a Day' volunteering program and supports local food banks. Additionally, the company engages in economic development efforts, benefiting local communities. Cleco's dedication to sustainability is evidenced by investments in energy efficiency initiatives and collaborations fostering a sustainable energy environment in Louisiana.
Strategic Vision
Cleco's strategic vision emphasizes substantial reduction of carbon emissions through infrastructure modernization, enhanced customer service, and renewable energy investments. The company's commitment to operational excellence and community growth underscores its pivotal role as a leading energy provider in Louisiana.
Competitive Landscape
Primary Competitors
Cleco faces significant competition in the energy sector from entities such as ALLETE, Alliant Energy, and Avista. These competitors challenge Cleco in areas including energy production, distribution, customer service, and technology. A detailed overview of major competitors follows.
Competitor Profiles
Entergy Corporation
- Headquarters: New Orleans, Louisiana, United States
- Market Focus: Customer base of approximately 3 million across Arkansas, Louisiana, Mississippi, and Texas.
- Financials: 2020 revenue of $11 billion, operating income of $1.769 billion, net income of $1.406 billion.
- Operations: Over 30,000 megawatts of electric generating capacity, involved in retail electric distribution and nuclear energy production.
- Strategic Initiatives: Focus on sustainability and joined the Midcontinent Independent System Operator (MISO) for competitive neutrality.
CenterPoint Energy, Inc.
- Headquarters: Houston, Texas, United States
- Market Focus: Electric and natural gas utilities in Indiana, Ohio, Louisiana, Minnesota, Mississippi, and Texas.
- Financials: 2020 revenue of $7.418 billion.
- Operations: Extensive infrastructure for electric and natural gas services, employing around 9,000 personnel.
- Strategic Focus: Enhancing energy delivery reliability and climate event responsiveness.
Atmos Energy Corporation
- Headquarters: Dallas, Texas, United States
- Market Position: A leading natural-gas-only distributor in the U.S.
- Financials: 2020 revenue of US$2.82 billion, net income of US$601.4 million.
- Services: Fully regulated distribution to over 3 million customers, with focus on pipeline safety and service expansion.
Alliant Energy Corporation
- Headquarters: Madison, Wisconsin, United States
- Market Focus: Electricity and natural gas services in Iowa and Wisconsin.
- Financials: 2021 revenue of US$3.669 billion, net income of US$0.674 billion.
- Operations and Initiatives: Integration of sustainable technologies and electric vehicle charging solutions.
Avista Corporation
- Headquarters: Spokane, Washington, United States
- Operations: Electric and natural gas services to Washington, Idaho, and Oregon, with 356,000 electric and 320,000 natural gas customers.
- Financials: Recent revenue of $1.473 billion.
- Strategic Initiatives: Advancing electric vehicle infrastructure and customer service technology.
Competitive Insights
Cleco navigates a complex competitive environment with key players focusing on sustainable energy, infrastructure efficiency, and customer innovation. Aligning its strategic initiatives with these focal areas can assist Cleco in reinforcing its market position, driving growth, and improving operational reliability. Critical areas for advancement include sustainability, regulatory adherence, and technological enhancements, which are vital for Cleco to distinguish itself and deliver added value.
