PRINCETON, N.J.--(BUSINESS WIRE)--NRG announces that the Louisiana Public Service Commission (LPSC) has approved the previously announced transaction between NRG and Cleco Corporate Holdings LLC (Cleco). In an open session meeting today, January 16, the LPSC awarded Cleco approval for the transaction. This is the last regulatory approval needed to finalize the transaction.

The agreement to sell NRG’s South Central Business to Cleco was first announced on February 7, 2018. On that date, NRG and Cleco entered into a Purchase and Sale Agreement for Cleco to purchase NRG’s South Central business for a total purchase price and cash proceeds of $1.0 billion, subject to certain adjustments. The companies expect to close the transaction in February 2019.

About NRG

At NRG, we’re redefining power by putting customers at the center of everything we do. We create value by generating electricity and serving nearly 3 million residential and commercial customers through our portfolio of retail electricity brands. A Fortune 500 company, NRG delivers customer-focused solutions for managing electricity, while enhancing energy choice and working towards a sustainable energy future. More information is available at www.nrg.com. Connect with NRG on Facebook, LinkedIn and follow us on Twitter @nrgenergy, @nrginsight.