August 27, 2014 4:53 AM ET

Electric Utilities

Company Overview of Cleco Power LLC

Company Overview

Cleco Power LLC, an electric utility company, generates, transmits, distributes, and sells electricity in Louisiana. As of December 31, 2013, it owned or had an ownership interest in 3 steam electric generating stations, 2 gas turbines, and 1 combined cycle unit with a combined nameplate capacity of 2,565 MW and a combined electric net generating capacity of 2,477 MW; and owned 81 active transmission substations and 220 active distribution substations. The company also had transmission systems consisting of approximately 67 circuit miles of 500-kiloVolt (kV) lines; 534 circuit miles of 230-kV lines; 671 circuit miles of 138 kV lines; and 28 circuit miles of 69-kV lines, as well as a distribu...

2030 Donahue Ferry Road

Pineville, LA 71360

United States

963 Employees

Phone:

318-484-7400

Key Executives for Cleco Power LLC

Chief Executive Officer and Manager
Age: 55
President
Age: 43
Chief Financial Officer and Senior Vice President
Age: 53
Senior Vice President
Age: 58
Senior Vice President of External Relations & Information Technology and Senior Vice President of External Relations & Information Technology of Cleco Corporation
Age: 57
Compensation as of Fiscal Year 2014.

Cleco Power LLC Key Developments

Cleco Power LLC Reports Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

Cleco Power LLC reported unaudited earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company’s diluted EPS was $0.53 against $0.57 a year ago. For the six months, the company’s diluted EPS was $0.97 against $1.03 a year ago.

Cleco Power LLC Announces Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013

Cleco Power LLC announced unaudited earnings results for the fourth quarter and full year ended December 31, 2013. For the quarter, the company announced diluted earnings per share of $0.44 compared to $0.41 for the same period a year ago. Higher non-fuel revenue increased earnings by $0.20 per share compared to the fourth quarter of 2012 primarily due to $0.08 per share from colder winter weather and higher industrial and wholesale sales, $0.07 per share from adjustments to Cleco Power's formula rate plan, and $0.02 per share due to an adjustment to customer surcredits. Also contributing to the increase was $0.03 per share of higher transmission and other miscellaneous revenue. Lower rate refund accrual increased earnings by $0.01 per share compared to the fourth quarter of 2012 primarily due to a change in estimated accruals. For the year, the company announced diluted earnings per share of $2.47 compared to $2.42 for the same period a year ago. Higher non-fuel revenue increased earnings by $0.55 per share compared to 2012 primarily due to $0.21 per share from adjustments to Cleco Power's formula rate plan, $0.19 per share from colder winter weather and higher industrial and wholesale sales, $0.08 per share due to an adjustment to customer surcredits, and $0.07 per share from higher transmission revenue.

Cleco Power LLC Reaches 20 Year Agreement with City of Alexandria

Cleco Power LLC and the City of Alexandria reached a 20-year agreement approving Cleco to provide capacity, energy and market participant services to the city. Pending final approval from the Alexandria City Council, the new agreement will go into effect upon expiration of the current contract that ends in the summer of 2015. The contract includes a tiered structure along with tiered pricing beginning at a 30-megawatt capacity minimum. In addition, the contract contains growth-based elements that align Cleco and Alexandria to attract and serve new industrial load in the Alexandria market.

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