As part of its plan to take over management of LUS’s electric division, Bernhard Capital Partners is presenting a vision of creating a Fortune 500 company headquartered in Lafayette.
Nearly two weeks since The Current broke the news, Mayor Joel Robideaux presented a detailed timeline of his talks to privatize the electrical division of LUS through a management agreement with a private equity firm based in Baton Rouge. Robideaux had come under fire for leaving council members out of the conversation, most of whom only learned about the deal in media reports.
Terry Huval, director of LUS for 23 years, has hurried his retirement amid revelations that the Robideaux administration is in talks to privatize the system’s electrical division.
While there are more questions than answers about selling LUS, one thing we know for sure is that it’s a perfect example of the unfairness baked into the structure of Lafayette’s consolidated government.
Much of the City-Parish Council, already disillusioned that it was left in the dark during negotiations, appears unified in opposition to LUS’s electrical division changing hands.
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