Company Overview of Cleco Power LLC
Cleco Power LLC, an electric utility company, engages in the generation, transmission, distribution, and sale of electricity in Louisiana. The company serves approximately 281,000 customers in Louisiana through its retail business, as well as 10 communities in Louisiana and Mississippi through wholesale power contracts. It owns an ownership interest in 3 steam electric generating stations, 1 gas turbine, 1 combined cycle unit, and 1 simple cycle unit net generating capacity of 2,488 megawatts; and 72 active transmission substations and 223 active distribution substations. The company also owns transmission systems consist of approximately 67 circuit miles of 500-kiloVolt (kV) lines; 510 circ...
2030 Donahue Ferry Road
Pineville, LA 71360-5226
Founded in 2000
Key Executives for Cleco Power LLC
Chief Executive Officer and Manager
Chief Financial Officer and Senior Vice President
Senior Vice President of External Relations & Information Technology and Senior Vice President of External Relations & Information Technology of Cleco Corporation
Compensation as of Fiscal Year 2013.
Cleco Power LLC Key Developments
Cleco Power LLC Announces Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013
Feb 25 14
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
Aug 7 13
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.
Cleco Corporation Announces Appointment of Darren J. Olagues as President of Cleco Power LLC
Jul 31 13
On July 26, 2013, the Board of Directors of Cleco Corporation ('the company or Cleco') and the Board of Managers of Cleco Power LLC (Cleco Power) (collectively referred to as the Board) appointed Darren J. Olagues as President of Cleco Power, effective from August 3, 2013. Mr. Olagues has been serving as CFO of the company and Cleco Power since May 2009 including Treasurer from November 2011 until July 2012.
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