SWEPCO proposal tops in Cajun reorganization
Southwestern Electric Power Co. (SWEPCO) has proposed the lowest initial rate and new, flexible pricing options for Louisiana?s distribution cooperatives under its reorganization plan for Cajun Electric Power Cooperative Inc. The new proposal supports the second amended plan filed in bankruptcy court on Oct. 26, 1996, by SWEPCO, Entergy Gulf States and the Members Committee, which consists of seven of the 12 distribution cooperatives served by Cajun. Two competing plans have been filed, each with different rate paths, asset purchase proposals and other provisions. All the plans are subject to closing conditions, approval of the bankruptcy court and regulatory approvals.