2.2.0.25falsefalse006050 - Disclosure - Fair Value Accountingtruefalsefalse1falsefalsefalsefalse1/1/2010 - 12/31/2010 c00052http://www.sec.gov/CIK0001089819duration2010-01-01T00:00:002010-12-31T00:00:002true0cnl_NotesToFinancialStatementsAbstractcnlfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNo definition available.falsefalseNotes to the Financial Statements [Abstract]3false0us-gaap_FairValueDisclosuresTextBlockus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseterselabel1falsefalsefalse00<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="left">Note 5 — Fair Value Accounting <div><hr style="COLOR: black" align="left" width="100%" noshade="noshade" size="1" /></div></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><div style="DISPLAY: block; TEXT-INDENT: 0pt">The amounts reflected in Cleco Corporation and Cleco Power’s Consolidated Balance Sheets at December 31, 2010, and December 31, 2009, for cash and cash equivalents, accounts receivable, other accounts receivable, accounts payable, and short-term debt approximate fair value because of their short-term nature.  Estimates of the fair value of Cleco and Cleco Power’s long-term debt and Cleco’s nonconvertible preferred stock are based upon the quoted market price for the same or similar issues or by a discounted present value analysis of future cash flows using current rates obtained by Cleco and Cleco Power for debt and by Cleco for preferred stock with similar maturities.</div></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"> </div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="justify"> </div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="left">Cleco</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><table cellspacing="0" cellpadding="0" width="100%"><tr><td style="BORDER-TOP: black 0.5pt solid; PADDING-BOTTOM: 2px" valign="bottom">  </td><td style="BORDER-TOP: black 0.5pt solid; BORDER-BOTTOM: black 2px solid" valign="bottom"> </td><td style="BORDER-TOP: black 0.5pt solid; BORDER-BOTTOM: black 2px solid" valign="bottom" colspan="2"> </td><td style="BORDER-TOP: black 0.5pt solid; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap"> </td><td style="BORDER-TOP: black 0.5pt solid; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom"> </td><td style="BORDER-TOP: black 0.5pt solid; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" colspan="2"> </td><td style="BORDER-TOP: black 0.5pt solid; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap"> </td><td style="BORDER-TOP: black 0.5pt solid; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom"> </td><td style="BORDER-TOP: black 0.5pt solid; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" colspan="6"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">AT DECEMBER 31,</div></td><td style="BORDER-TOP: black 0.5pt solid; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap"> </td></tr><tr><td style="PADDING-BOTTOM: 2px; TEXT-ALIGN: right" valign="bottom">  </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" colspan="2"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" colspan="2"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">2010</div></td><td style="PADDING-BOTTOM: 2px; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap"> </td><td style="PADDING-BOTTOM: 2px; TEXT-ALIGN: right" valign="bottom"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" colspan="2"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" colspan="2"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">2009</div></td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap"> </td></tr><tr><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left">(THOUSANDS)</div></td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" colspan="2"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">CARRYING</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">VALUE</div></td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" colspan="2"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">ESTIMATED</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">FAIR VALUE</div></td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" colspan="2"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">CARRYING</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">VALUE</div></td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" colspan="2"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">ESTIMATED</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">FAIR VALUE</div></td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"> </td></tr><tr><td valign="bottom" align="left"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left">Financial instruments not marked-to-market</div></td><td valign="bottom"> </td><td valign="bottom" colspan="2"> </td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"> </td><td valign="bottom"> </td><td valign="bottom" colspan="2"> </td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"> </td><td valign="bottom"> </td><td valign="bottom" colspan="2"> </td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"> </td><td valign="bottom"> </td><td valign="bottom" colspan="2"> </td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"> </td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left">Cash and cash equivalents</div></td><td valign="bottom" align="left" width="1%"> </td><td style="TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="TEXT-ALIGN: right" valign="bottom" width="9%">191,128</td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td valign="bottom" align="left" width="1%"> </td><td style="TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="TEXT-ALIGN: right" valign="bottom" width="9%">191,128</td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td valign="bottom" align="left" width="1%"> </td><td style="TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="TEXT-ALIGN: right" valign="bottom" width="9%">145,193</td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td valign="bottom" align="left" width="1%"> </td><td style="TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="TEXT-ALIGN: right" valign="bottom" width="9%">145,193</td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left">Restricted cash</div></td><td valign="bottom" align="left" width="1%"> </td><td style="TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="TEXT-ALIGN: right" valign="bottom" width="9%">41,048</td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td valign="bottom" align="left" width="1%"> </td><td style="TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="TEXT-ALIGN: right" valign="bottom" width="9%">41,048</td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td valign="bottom" align="left" width="1%"> </td><td style="TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="TEXT-ALIGN: right" valign="bottom" width="9%">56,451</td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td valign="bottom" align="left" width="1%"> </td><td style="TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="TEXT-ALIGN: right" valign="bottom" width="9%">56,451</td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left">Long-term debt, excluding debt issuance costs</div></td><td valign="bottom" align="left" width="1%"> </td><td style="TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="TEXT-ALIGN: right" valign="bottom" width="9%">1,403,836</td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td valign="bottom" align="left" width="1%"> </td><td style="TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="TEXT-ALIGN: right" valign="bottom" width="9%">1,462,063</td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td valign="bottom" align="left" width="1%"> </td><td style="TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="TEXT-ALIGN: right" valign="bottom" width="9%">1,319,540</td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td valign="bottom" align="left" width="1%"> </td><td style="TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="TEXT-ALIGN: right" valign="bottom" width="9%">1,353,479</td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left">Preferred stock not subject to mandatory redemption</div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%">1,029</td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%">844</td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%">1,029</td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%">874</td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td></tr></table></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="justify"> </div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="left">Cleco Power</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><table cellspacing="0" cellpadding="0" width="100%"><tr><td style="BORDER-TOP: black 0.5pt solid; PADDING-BOTTOM: 2px" valign="bottom">  </td><td style="BORDER-TOP: black 0.5pt solid; BORDER-BOTTOM: black 2px solid" valign="bottom"> </td><td style="BORDER-TOP: black 0.5pt solid; BORDER-BOTTOM: black 2px solid" valign="bottom" colspan="2"> </td><td style="BORDER-TOP: black 0.5pt solid; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap"> </td><td style="BORDER-TOP: black 0.5pt solid; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom"> </td><td style="BORDER-TOP: black 0.5pt solid; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" colspan="2"> </td><td style="BORDER-TOP: black 0.5pt solid; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap"> </td><td style="BORDER-TOP: black 0.5pt solid; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom"> </td><td style="BORDER-TOP: black 0.5pt solid; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" colspan="6"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">AT DECEMBER 31,</div></td><td style="BORDER-TOP: black 0.5pt solid; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap"> </td></tr><tr><td style="PADDING-BOTTOM: 2px; TEXT-ALIGN: right" valign="bottom">  </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" colspan="2"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" colspan="2"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">2010</div></td><td style="PADDING-BOTTOM: 2px; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap"> </td><td style="PADDING-BOTTOM: 2px; TEXT-ALIGN: right" valign="bottom"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" colspan="2"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" colspan="2"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">2009</div></td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap"> </td></tr><tr><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left">(THOUSANDS)</div></td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" colspan="2"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">CARRYING</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">VALUE</div></td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" colspan="2"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">ESTIMATED</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">FAIR VALUE</div></td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" colspan="2"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">CARRYING</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">VALUE</div></td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" colspan="2"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">ESTIMATED</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">FAIR VALUE</div></td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"> </td></tr><tr><td valign="bottom" align="left"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left">Financial instruments not marked-to-market</div></td><td valign="bottom"> </td><td valign="bottom" colspan="2"> </td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"> </td><td valign="bottom"> </td><td valign="bottom" colspan="2"> </td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"> </td><td valign="bottom"> </td><td valign="bottom" colspan="2"> </td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"> </td><td valign="bottom"> </td><td valign="bottom" colspan="2"> </td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"> </td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left">Cash and cash equivalents</div></td><td valign="bottom" align="left" width="1%"> </td><td style="TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="TEXT-ALIGN: right" valign="bottom" width="9%">184,912</td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td valign="bottom" align="left" width="1%"> </td><td style="TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="TEXT-ALIGN: right" valign="bottom" width="9%">184,912</td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td valign="bottom" align="left" width="1%"> </td><td style="TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="TEXT-ALIGN: right" valign="bottom" width="9%">138,113</td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td valign="bottom" align="left" width="1%"> </td><td style="TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="TEXT-ALIGN: right" valign="bottom" width="9%">138,113</td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left">Restricted cash</div></td><td valign="bottom" align="left" width="1%"> </td><td style="TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="TEXT-ALIGN: right" valign="bottom" width="9%">40,951</td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td valign="bottom" align="left" width="1%"> </td><td style="TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="TEXT-ALIGN: right" valign="bottom" width="9%">40,951</td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td valign="bottom" align="left" width="1%"> </td><td style="TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="TEXT-ALIGN: right" valign="bottom" width="9%">56,354</td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td valign="bottom" align="left" width="1%"> </td><td style="TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="TEXT-ALIGN: right" valign="bottom" width="9%">56,354</td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left">Long-term debt, excluding debt issuance costs</div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%">1,388,836</td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%">1,447,063</td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%">1,224,540</td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%">1,258,479</td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td></tr></table></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="left"> </div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="left">At December 31, 2010, Cleco and Cleco Power were exposed to concentrations of credit risk through their short-term investments classified as cash equivalents and restricted cash.  Cleco had $229.7 million ($188.7 million of cash and $41.0 million of restricted cash) in short-term investments in institutional money market funds.  If the money market funds failed to perform under the terms of the investment, Cleco would be exposed to a loss of the invested amounts.  Cleco Power had $224.4 million ($183.5 million of cash and $40.9 million of restricted cash) in short-term investments in institutional money market funds.  If the money market funds failed to perform under the terms of the investments, Cleco Power would be exposed to a loss of the invested amounts.  Collateral on these types of investments is not required by either Cleco or Cleco Power.  In order to mitigate potential credit risk, Cleco and Cleco Power have established guidelines for short-term investments.  Money market funds must have at least $1.0 billion in assets under management; must have been in existence for not less than two years; must have portfolios not comprised of more than 50% of securities issued by foreign entities; and must be rated in the top two ratings categories by at least one nationally recognized rating agency.  Commercial paper must be issued by a company with headquarters in the U.S. and rated not less than A1 by Standard & Poor’s or P1 by Moody’s.  For split-rated issuers, the second rating must not be lower than either A2 or P2; the issuer’s long-term debt must be rated not lower than A by Standard & Poor’s or A2 by Moody’s; and the issuer cannot be on negative credit watch.  Investments in commercial paper rated A2 by Standard & Poor’s or P2 by Moody’s may be made if approved by the appropriate level of management.  </div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="left">Cleco Power was exposed to concentrations of credit risk through its energy marketing assets.  These energy marketing assets represent open natural gas purchase positions, primarily financial hedge transactions.  Cleco Power entered into these positions to mitigate the volatility of the cost of fuel purchased for utility generation and the risk associated with the fixed-price power that is being provided to a wholesale customer through December 2010.  If the counterparties to these assets fail to perform under the terms of the investment, Cleco Power would have exposure of $37.1 million.  For information about credit risk management and how these risks are mitigated on energy marketing assets, see Note 2 — “Summary of Significant Accounting Policies — Risk Management.”</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"> </div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="left">Interest Rate Swap</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="left">In August 2009, Cleco Power entered into a $50.0 million bank loan with variable interest, paid monthly, and calculated at 3.00% plus the one-month LIBOR.  The loan was set to mature on August 19, 2012.  In order to mitigate the risk of future floating interest rates, Cleco Power entered into an interest rate swap in the third quarter of 2009.  Based on the notional amount of the bank loan, the swap required a monthly net settlement between Cleco Power’s fixed payment of 1.84% and the swap counterparty’s floating payment of the one-month LIBOR.  The swap was set to mature on May 31, 2012.  Both the bank loan and the swap were effective the same day and required monthly payments on the same day near the end of the month.  From the inception of the loan to the termination of the loan, Cleco Power recognized net interest expense equal to an annual rate of 4.84% on the bank loan.  Since both the bank loan and the swap required payments on the same day near the end of the month, the cash payments were materially close to the interest expense recognized.  </div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="left">The swap was considered a derivative and was carried on the balance sheet at its fair value.  Its fair value was calculated by the present value of the fixed payments as compared to expected future LIBOR rates.  Since future LIBOR rates are not available for each month until termination, quoted LIBOR rates from an active exchange for observable time periods were used to create a forward “LIBOR curve” for all months until termination.  Because of the inputs and common techniques used to calculate fair value, the swap valuation was considered Level 2.  </div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="left">The swap met the criteria of a cash flow hedge under the authoritative guidance as it related to derivatives and hedging.  Changes in the swap’s fair value related to the effective portion were recognized in other comprehensive income, whereas changes in the fair value related to the ineffective portion were recognized in earnings.  As settlements were made, the swap’s other comprehensive income fair values were reclassified into earnings as a component of interest expense.  In November 2010, Cleco Power terminated the interest rate swap and repaid in full the associated $50.0 million bank loan.  At the time of the termination, the remaining $1.1 million of losses in accumulated other comprehensive income were reclassified to other expense. For the years ended December 31, 2010 and 2009, there were $0.7 million and $0.3 million, respectively, of reclassification adjustments from accumulated other comprehensive income to interest expense as a result of monthly settlements.  There was no impact to earnings due to ineffectiveness for the years ended December 31, 2010, and 2009.  </div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="justify"> </div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="left">Fair Value Measurements and Disclosures</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="left">The authoritative guidance on fair value measurements requires entities to classify assets and liabilities measured at their fair value according to three different levels depending on the inputs used in determining fair value.</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="left">The tables below disclose for Cleco and Cleco Power the fair value of financial assets and liabilities measured on a recurring basis and within the scope of the authoritative guidance for fair value measurements and disclosures.</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"> </div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="justify"> </div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="left">Cleco</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><table cellspacing="0" cellpadding="0" width="100%"><tr><td style="BORDER-TOP: black 0.5pt solid; PADDING-BOTTOM: 2px" valign="bottom">  </td><td style="BORDER-TOP: black 0.5pt solid; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom"> </td><td style="BORDER-TOP: black 0.5pt solid; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" colspan="30"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">CLECO CONSOLIDATED FAIR VALUE MEASUREMENTS AT REPORTING DATE USING:</div></td><td style="BORDER-TOP: black 0.5pt solid; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap"> </td></tr><tr><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left">(THOUSANDS)</div></td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" colspan="2"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">AT DECEMBER 31, 2010</div></td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" colspan="2"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">QUOTED PRICES IN</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">ACTIVE MARKETS</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">FOR IDENTICAL</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">ASSETS</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">(LEVEL 1)</div></td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" colspan="2"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">SIGNIFICANT</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">OTHER</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">OBSERVABLE</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">INPUTS</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">(LEVEL 2)</div></td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" colspan="2"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">SIGNIFICANT</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">UNOBSERVABLE</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">INPUTS</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">(LEVEL 3)</div></td><td style="PADDING-BOTTOM: 2px; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap"> </td><td style="PADDING-BOTTOM: 2px; TEXT-ALIGN: right" valign="bottom"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" colspan="2"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">AT DECEMBER 31, 2009</div></td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" colspan="2"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">QUOTED PRICES IN</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">ACTIVE MARKETS</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">FOR IDENTICAL</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">ASSETS</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">(LEVEL 1)</div></td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" colspan="2"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">SIGNIFICANT</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">OTHER</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">OBSERVABLE</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">INPUTS</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">(LEVEL 2)</div></td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" colspan="2"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">SIGNIFICANT</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">UNOBSERVABLE</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">INPUTS</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">(LEVEL 3)</div></td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"> </td></tr><tr><td valign="bottom" align="left"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left">Asset Description</div></td><td valign="bottom"> </td><td valign="bottom" colspan="2"> </td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"> </td><td valign="bottom"> </td><td valign="bottom" colspan="2"> </td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"> </td><td valign="bottom"> </td><td valign="bottom" colspan="2"> </td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"> </td><td valign="bottom"> </td><td valign="bottom" colspan="2"> </td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"> </td><td valign="bottom"> </td><td valign="bottom" colspan="2"> </td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"> </td><td valign="bottom"> </td><td valign="bottom" colspan="2"> </td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"> </td><td valign="bottom"> </td><td valign="bottom" colspan="2"> </td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"> </td><td valign="bottom"> </td><td valign="bottom" colspan="2"> </td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"> </td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="20%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left">Energy market derivatives</div></td><td valign="bottom" align="left" width="1%"> </td><td style="TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="TEXT-ALIGN: right" valign="bottom" width="7%">97</td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td valign="bottom" align="left" width="1%"> </td><td style="TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="TEXT-ALIGN: right" valign="bottom" width="7%">-</td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td valign="bottom" align="left" width="1%"> </td><td style="TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="TEXT-ALIGN: right" valign="bottom" width="7%">97</td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td valign="bottom" align="left" width="1%"> </td><td style="TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="TEXT-ALIGN: right" valign="bottom" width="7%">-</td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td valign="bottom" align="left" width="1%"> </td><td style="TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="TEXT-ALIGN: right" valign="bottom" width="7%">141</td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td valign="bottom" align="left" width="1%"> </td><td style="TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="TEXT-ALIGN: right" valign="bottom" width="7%">-</td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td valign="bottom" align="left" width="1%"> </td><td style="TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="TEXT-ALIGN: right" valign="bottom" width="7%">141</td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td valign="bottom" align="left" width="1%"> </td><td style="TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="TEXT-ALIGN: right" valign="bottom" width="7%">-</td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="20%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left">Institutional money market funds</div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="7%">229,748</td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="7%">-</td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="7%">229,748</td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="7%">-</td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="7%">198,155</td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="7%">-</td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="7%">198,155</td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="7%">-</td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 4px double" valign="bottom" align="left" width="20%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left">Total</div></td><td style="BORDER-BOTTOM: black 4px double" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right" valign="bottom" width="7%">229,845</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 4px double" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right" valign="bottom" width="7%">-</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 4px double" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right" valign="bottom" width="7%">229,845</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 4px double" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right" valign="bottom" width="7%">-</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 4px double" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right" valign="bottom" width="7%">198,296</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 4px double" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right" valign="bottom" width="7%">-</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 4px double" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right" valign="bottom" width="7%">198,296</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 4px double" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right" valign="bottom" width="7%">-</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td></tr></table></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"> </div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><table cellspacing="0" cellpadding="0" width="100%"><tr><td style="BORDER-TOP: black 0.5pt solid; PADDING-BOTTOM: 2px" valign="bottom">  </td><td style="BORDER-TOP: black 0.5pt solid; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom"> </td><td style="BORDER-TOP: black 0.5pt solid; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" colspan="30"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">CLECO CONSOLIDATED FAIR VALUE MEASUREMENTS AT REPORTING DATE USING:</div></td><td style="BORDER-TOP: black 0.5pt solid; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap"> </td></tr><tr><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left">(THOUSANDS)</div></td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" colspan="2"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">AT DECEMBER 31, 2010</div></td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" colspan="2"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">QUOTED PRICES IN</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">ACTIVE MARKETS</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">FOR IDENTICAL</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">ASSETS</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">(LEVEL 1)</div></td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" colspan="2"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">SIGNIFICANT</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">OTHER</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">OBSERVABLE</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">INPUTS</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">(LEVEL 2)</div></td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" colspan="2"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">SIGNIFICANT</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">UNOBSERVABLE</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">INPUTS</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">(LEVEL 3)</div></td><td style="PADDING-BOTTOM: 2px; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap"> </td><td style="PADDING-BOTTOM: 2px; TEXT-ALIGN: right" valign="bottom"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" colspan="2"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">AT DECEMBER 31, 2009</div></td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" colspan="2"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">QUOTED PRICES IN</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">ACTIVE MARKETS</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">FOR IDENTICAL</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">ASSETS</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">(LEVEL 1)</div></td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" colspan="2"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">SIGNIFICANT</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">OTHER</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">OBSERVABLE</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">INPUTS</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">(LEVEL 2)</div></td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" colspan="2"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">SIGNIFICANT</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">UNOBSERVABLE</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">INPUTS</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">(LEVEL 3)</div></td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"> </td></tr><tr><td valign="bottom" align="left"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left">Liability Description</div></td><td valign="bottom"> </td><td valign="bottom" colspan="2"> </td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"> </td><td valign="bottom"> </td><td valign="bottom" colspan="2"> </td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"> </td><td valign="bottom"> </td><td valign="bottom" colspan="2"> </td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"> </td><td valign="bottom"> </td><td valign="bottom" colspan="2"> </td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"> </td><td valign="bottom"> </td><td valign="bottom" colspan="2"> </td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"> </td><td valign="bottom"> </td><td valign="bottom" colspan="2"> </td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"> </td><td valign="bottom"> </td><td valign="bottom" colspan="2"> </td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"> </td><td valign="bottom"> </td><td valign="bottom" colspan="2"> </td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"> </td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="20%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left">Energy market derivatives</div></td><td valign="bottom" align="left" width="1%"> </td><td style="TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="TEXT-ALIGN: right" valign="bottom" width="7%">15,245</td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td valign="bottom" align="left" width="1%"> </td><td style="TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="TEXT-ALIGN: right" valign="bottom" width="7%">3,317</td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td valign="bottom" align="left" width="1%"> </td><td style="TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="TEXT-ALIGN: right" valign="bottom" width="7%">11,928</td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td valign="bottom" align="left" width="1%"> </td><td style="TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="TEXT-ALIGN: right" valign="bottom" width="7%">-</td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td valign="bottom" align="left" width="1%"> </td><td style="TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="TEXT-ALIGN: right" valign="bottom" width="7%">25,441</td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td valign="bottom" align="left" width="1%"> </td><td style="TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="TEXT-ALIGN: right" valign="bottom" width="7%">8,106</td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td valign="bottom" align="left" width="1%"> </td><td style="TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="TEXT-ALIGN: right" valign="bottom" width="7%">17,335</td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td valign="bottom" align="left" width="1%"> </td><td style="TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="TEXT-ALIGN: right" valign="bottom" width="7%">-</td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="20%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left">Interest rate swap</div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="7%">-</td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="7%">-</td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="7%">-</td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="7%">-</td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="7%">890</td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="7%">-</td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="7%">890</td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="7%">-</td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 4px double" valign="bottom" align="left" width="20%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left">Total</div></td><td style="BORDER-BOTTOM: black 4px double" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right" valign="bottom" width="7%">15,245</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 4px double" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right" valign="bottom" width="7%">3,317</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 4px double" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right" valign="bottom" width="7%">11,928</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 4px double" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right" valign="bottom" width="7%">-</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 4px double" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right" valign="bottom" width="7%">26,331</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 4px double" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right" valign="bottom" width="7%">8,106</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 4px double" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right" valign="bottom" width="7%">18,225</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 4px double" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right" valign="bottom" width="7%">-</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td></tr></table></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="justify"> </div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="left">Cleco Power</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><table cellspacing="0" cellpadding="0" width="100%"><tr><td style="BORDER-TOP: black 0.5pt solid; PADDING-BOTTOM: 2px" valign="bottom">  </td><td style="BORDER-TOP: black 0.5pt solid; BORDER-BOTTOM: black 2px solid" valign="bottom" align="left"> </td><td style="BORDER-TOP: black 0.5pt solid; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" colspan="30"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">CLECO POWER FAIR VALUE MEASUREMENTS AT REPORTING DATE USING:</div></td><td style="BORDER-TOP: black 0.5pt solid; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap"> </td></tr><tr><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left">(THOUSANDS)</div></td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" colspan="2"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">AT DECEMBER 31, 2010</div></td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" colspan="2"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">QUOTED PRICES IN</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">ACTIVE MARKETS</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">FOR IDENTICAL</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">ASSETS</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">(LEVEL 1)</div></td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" colspan="2"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">SIGNIFICANT</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">OTHER</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">OBSERVABLE</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">INPUTS</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">(LEVEL 2)</div></td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" colspan="2"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">SIGNIFICANT</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">UNOBSERVABLE</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">INPUTS</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">(LEVEL 3)</div></td><td style="PADDING-BOTTOM: 2px; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap"> </td><td style="PADDING-BOTTOM: 2px; TEXT-ALIGN: right" valign="bottom"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" colspan="2"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">AT DECEMBER 31, 2009</div></td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" colspan="2"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">QUOTED PRICES IN</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">ACTIVE MARKETS</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">FOR IDENTICAL</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">ASSETS</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">(LEVEL 1)</div></td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" colspan="2"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">SIGNIFICANT</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">OTHER</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">OBSERVABLE</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">INPUTS</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">(LEVEL 2)</div></td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" colspan="2"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">SIGNIFICANT</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">UNOBSERVABLE</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">INPUTS</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">(LEVEL 3)</div></td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"> </td></tr><tr><td valign="bottom" align="left"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left">Asset Description</div></td><td valign="bottom"> </td><td valign="bottom" colspan="2"> </td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"> </td><td valign="bottom"> </td><td valign="bottom" colspan="2"> </td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"> </td><td valign="bottom"> </td><td valign="bottom" colspan="2"> </td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"> </td><td valign="bottom"> </td><td valign="bottom" colspan="2"> </td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"> </td><td valign="bottom"> </td><td valign="bottom" colspan="2"> </td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"> </td><td valign="bottom"> </td><td valign="bottom" colspan="2"> </td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"> </td><td valign="bottom"> </td><td valign="bottom" colspan="2"> </td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"> </td><td valign="bottom"> </td><td valign="bottom" colspan="2"> </td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"> </td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="20%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left">Energy market derivatives</div></td><td valign="bottom" align="left" width="1%"> </td><td style="TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="TEXT-ALIGN: right" valign="bottom" width="7%">97</td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td valign="bottom" align="left" width="1%"> </td><td style="TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="TEXT-ALIGN: right" valign="bottom" width="7%">-</td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td valign="bottom" align="left" width="1%"> </td><td style="TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="TEXT-ALIGN: right" valign="bottom" width="7%">97</td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td valign="bottom" align="left" width="1%"> </td><td style="TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="TEXT-ALIGN: right" valign="bottom" width="7%">-</td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td valign="bottom" align="left" width="1%"> </td><td style="TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="TEXT-ALIGN: right" valign="bottom" width="7%">141</td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td valign="bottom" align="left" width="1%"> </td><td style="TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="TEXT-ALIGN: right" valign="bottom" width="7%">-</td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td valign="bottom" align="left" width="1%"> </td><td style="TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="TEXT-ALIGN: right" valign="bottom" width="7%">141</td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td valign="bottom" align="left" width="1%"> </td><td style="TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="TEXT-ALIGN: right" valign="bottom" width="7%">-</td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="20%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left">Institutional money market funds</div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="7%">224,451</td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="7%">-</td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="7%">224,451</td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="7%">-</td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="7%">191,155</td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="7%">-</td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="7%">191,155</td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="7%">-</td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 4px double" valign="bottom" align="left" width="20%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left">Total</div></td><td style="BORDER-BOTTOM: black 4px double" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right" valign="bottom" width="7%">224,548</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 4px double" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right" valign="bottom" width="7%">-</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 4px double" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right" valign="bottom" width="7%">224,548</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 4px double" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right" valign="bottom" width="7%">-</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 4px double" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right" valign="bottom" width="7%">191,296</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 4px double" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right" valign="bottom" width="7%">-</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 4px double" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right" valign="bottom" width="7%">191,296</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 4px double" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right" valign="bottom" width="7%">-</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td></tr></table></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"> </div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"> </div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><table cellspacing="0" cellpadding="0" width="100%"><tr><td style="BORDER-TOP: black 0.5pt solid; PADDING-BOTTOM: 2px" valign="bottom">  </td><td style="BORDER-TOP: black 0.5pt solid; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom"> </td><td style="BORDER-TOP: black 0.5pt solid; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" colspan="30"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">CLECO POWER FAIR VALUE MEASUREMENTS AT REPORTING DATE USING:</div></td><td style="BORDER-TOP: black 0.5pt solid; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap"> </td></tr><tr><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left">(THOUSANDS)</div></td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" colspan="2"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">AT DECEMBER 31, 2010</div></td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" colspan="2"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">QUOTED PRICES IN</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">ACTIVE MARKETS</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">FOR IDENTICAL</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">ASSETS</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">(LEVEL 1)</div></td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" colspan="2"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">SIGNIFICANT</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">OTHER</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">OBSERVABLE</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">INPUTS</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">(LEVEL 2)</div></td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" colspan="2"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">SIGNIFICANT</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">UNOBSERVABLE</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">INPUTS</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">(LEVEL 3)</div></td><td style="PADDING-BOTTOM: 2px; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap"> </td><td style="PADDING-BOTTOM: 2px; TEXT-ALIGN: right" valign="bottom"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" colspan="2"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">AT DECEMBER 31, 2009</div></td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" colspan="2"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">QUOTED PRICES IN</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">ACTIVE MARKETS</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">FOR IDENTICAL</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">ASSETS</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">(LEVEL 1)</div></td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" colspan="2"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">SIGNIFICANT</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">OTHER</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">OBSERVABLE</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">INPUTS</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">(LEVEL 2)</div></td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" colspan="2"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">SIGNIFICANT</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">UNOBSERVABLE</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">INPUTS</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">(LEVEL 3)</div></td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"> </td></tr><tr><td valign="bottom" align="left"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left">Liability Description</div></td><td valign="bottom"> </td><td valign="bottom" colspan="2"> </td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"> </td><td valign="bottom"> </td><td valign="bottom" colspan="2"> </td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"> </td><td valign="bottom"> </td><td valign="bottom" colspan="2"> </td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"> </td><td valign="bottom"> </td><td valign="bottom" colspan="2"> </td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"> </td><td valign="bottom"> </td><td valign="bottom" colspan="2"> </td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"> </td><td valign="bottom"> </td><td valign="bottom" colspan="2"> </td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"> </td><td valign="bottom"> </td><td valign="bottom" colspan="2"> </td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"> </td><td valign="bottom"> </td><td valign="bottom" colspan="2"> </td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"> </td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="20%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left">Energy market derivatives</div></td><td valign="bottom" align="left" width="1%"> </td><td style="TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="TEXT-ALIGN: right" valign="bottom" width="7%">15,245</td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td valign="bottom" align="left" width="1%"> </td><td style="TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="TEXT-ALIGN: right" valign="bottom" width="7%">3,317</td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td valign="bottom" align="left" width="1%"> </td><td style="TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="TEXT-ALIGN: right" valign="bottom" width="7%">11,928</td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td valign="bottom" align="left" width="1%"> </td><td style="TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="TEXT-ALIGN: right" valign="bottom" width="7%">-</td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td valign="bottom" align="left" width="1%"> </td><td style="TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="TEXT-ALIGN: right" valign="bottom" width="7%">25,441</td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td valign="bottom" align="left" width="1%"> </td><td style="TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="TEXT-ALIGN: right" valign="bottom" width="7%">8,106</td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td valign="bottom" align="left" width="1%"> </td><td style="TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="TEXT-ALIGN: right" valign="bottom" width="7%">17,335</td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td valign="bottom" align="left" width="1%"> </td><td style="TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="TEXT-ALIGN: right" valign="bottom" width="7%">-</td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="20%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left">Interest rate swap</div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="7%">-</td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="7%">-</td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="7%">-</td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="7%">-</td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="7%">890</td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="7%">-</td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="7%">890</td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="7%">-</td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 4px double" valign="bottom" align="left" width="20%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left">Total</div></td><td style="BORDER-BOTTOM: black 4px double" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right" valign="bottom" width="7%">15,245</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 4px double" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right" valign="bottom" width="7%">3,317</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 4px double" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right" valign="bottom" width="7%">11,928</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 4px double" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right" valign="bottom" width="7%">-</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 4px double" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right" valign="bottom" width="7%">26,331</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 4px double" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right" valign="bottom" width="7%">8,106</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 4px double" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right" valign="bottom" width="7%">18,225</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 4px double" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right" valign="bottom" width="7%">-</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td></tr></table></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"> </div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="left">The derivative assets and liabilities are classified as either current or non-current depending on when the positions close.  All energy market derivative current assets and current liabilities are reported as a net current risk management asset or liability.  All energy market derivative non-current assets and non-current liabilities are reported net in other deferred charges or other deferred credits.  Net presentation is appropriate due to the right of offset included in the master netting agreements.  On the balance sheet, the net current and net non-current derivative positions are netted with the applicable margin deposits.  At December 31, 2010, a net current risk management liability of $9.0 million represented the current derivative positions of $13.5 million reduced by current margin deposits and option premiums of $4.3 million and $0.2 million, respectively.  The non-current liability derivative positions of $1.7 million reduced by non-current margin deposits of less than $0.1 million were recorded in other deferred credits.  The institutional money market funds were reported on the Cleco Consolidated balance sheet in cash and cash equivalents, current restricted cash, and non-current restricted cash in the amounts of $188.7 million, $14.9 million, and $26.1 million, respectively.  At Cleco Power, cash and cash equivalents, current restricted cash, and non-current restricted cash were $183.5 million, $14.9 million, and $26.0 million, respectively, as of December 31, 2010.  </div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="left">Cleco utilizes different valuation techniques for fair value calculations.  In order to measure the fair value for Level 1 assets and liabilities, Cleco obtains the closing price from published indices in active markets for the various instruments and multiplies this price by the appropriate number of instruments held.  Level 2 fair values for assets and liabilities are determined by obtaining the closing price from published indices in active markets for instruments that are similar to Cleco’s assets and liabilities.  The fair value obtained is then discounted to the current period using a U.S. Treasury published interest rate as a proxy for a risk-free rate of return.  For some options, Cleco uses the Black-Scholes model using observable and available inputs to calculate the fair value, consistent with the income approach.  These techniques have been applied consistently from fiscal period to fiscal period.  Level 3 fair values allow for situations in which there is little, if any, market activity for the asset or liability at the measurement date.  Cleco had no Level 3 assets or liabilities at December 31, 2010, or 2009.</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="left">The assets and liabilities reported at fair value are grouped into classes based on the underlying nature and risks associated with the individual asset or liability.  Level 1 of energy market derivative assets and liabilities consists of a single class that includes natural gas futures with quoted prices on a liquid, national exchange.  As the future price of natural gas is affected by market expectations, such as the supply of natural gas relative to demand, the fair value of Cleco’s natural gas futures fluctuates.</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="left">Level 2 of energy market derivative assets and liabilities consists of two classes.  The first class contains natural gas swaps which fluctuate in value as the underlying natural gas futures fair value changes, and as market interest rates change. Cleco records the natural gas swaps at the net present value.  The second class consists of natural gas options.  The fair value of natural gas options fluctuates with the volatility in the fair value of natural gas, the number of days until the options expire, the underlying natural gas futures price fluctuations, and market interest rates.  Cleco records natural gas options at the net present value.  Both of these energy market derivative classes also contain counterparty execution risk because the transactions are entered into with a direct counterparty and are not traded through an exchange.</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="left">The Level 2 institutional money market funds asset consists of a single class.  In order to capture interest income and minimize risk, cash is invested in money market funds that invest primarily in short-term securities issued by the U.S. Treasury in order to maintain liquidity and achieve the goal of a net asset value of a dollar.  The risks associated with this class are counterparty risk of the fund manager and risk of price volatility associated with the underlying securities of the fund.</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="left">The Level 2 interest rate swap liability consisted of a single class that only contains one instrument.  The risks consisted of monthly changes in the one-month LIBOR, changes in the risk free rate of return and counterparty risk.  This instrument was with a direct counterparty and was not traded through an exchange.</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="left">Cleco has a policy that transfers between Levels 1, 2, and 3 are recognized at the end of a reporting period.  During the years ended December 31, 2010, and 2009, Cleco did not experience any transfers between levels.</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="justify"> </div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="left">Derivatives and Hedging</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="left">The authoritative guidance on derivatives and hedging requires entities to provide transparency disclosures about a company’s derivative activities and how the related hedged items affect a company’s financial position, financial performance, and cash flows.  Cleco is required to provide qualitative disclosures about derivative fair value, gains and losses, and credit-risk-related contingent features in derivative agreements.  </div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="left">The following table presents the fair values of derivative instruments and their respective line items as recorded on Cleco Corporation and Cleco Power’s Consolidated Balance Sheets as of December 31, 2010, and 2009:</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"> </div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><table cellspacing="0" cellpadding="0" width="100%"><tr><td style="BORDER-TOP: black 0.5pt solid; PADDING-BOTTOM: 2px" valign="bottom" width="64%">  </td><td style="BORDER-TOP: black 0.5pt solid; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="35%" colspan="8"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">DERIVATIVES NOT DESIGNATED AS HEDGING INSTRUMENTS</div></td><td style="BORDER-TOP: black 0.5pt solid; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap" width="1%"> </td></tr><tr><td style="PADDING-BOTTOM: 2px; TEXT-ALIGN: right" valign="bottom" width="64%">  </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="35%" colspan="8"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">LIABILITY DERIVATIVES</div></td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap" width="1%"> </td></tr><tr><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left">(THOUSANDS)</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left">FAIR VALUE </div></td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">BALANCE SHEET LINE ITEM</div></td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="10%" colspan="2"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">AT DECEMBER 31, 2010</div></td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="10%" colspan="2"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">AT DECEMBER 31, 2009</div></td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td></tr><tr><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left">Commodity contracts</div></td><td valign="bottom" width="12%">  </td><td valign="bottom" width="1%"> </td><td valign="bottom" width="10%" colspan="2"> </td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td valign="bottom" width="1%"> </td><td valign="bottom" width="10%" colspan="2"> </td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td></tr><tr><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left">Economic hedges:</div></td><td valign="bottom" width="12%">  </td><td valign="bottom" width="1%"> </td><td valign="bottom" width="10%" colspan="2"> </td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td valign="bottom" width="1%"> </td><td valign="bottom" width="10%" colspan="2"> </td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left">Current</div></td><td valign="bottom" align="left" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left">Risk management liability, net</div></td><td valign="bottom" align="left" width="1%"> </td><td style="TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="TEXT-ALIGN: right" valign="bottom" width="9%">-</td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td valign="bottom" align="left" width="1%"> </td><td style="TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="TEXT-ALIGN: right" valign="bottom" width="9%">(405</td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%">)</td></tr><tr bgcolor="white"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left">Fuel cost hedges:</div></td><td valign="bottom" width="12%">  </td><td valign="bottom" width="1%"> </td><td style="TEXT-ALIGN: left" valign="bottom" width="1%"> </td><td style="TEXT-ALIGN: right" valign="bottom" width="9%"> </td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td valign="bottom" width="1%"> </td><td style="TEXT-ALIGN: left" valign="bottom" width="1%"> </td><td style="TEXT-ALIGN: right" valign="bottom" width="9%"> </td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left">Current</div></td><td valign="bottom" align="left" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left">Risk management liability, net</div></td><td valign="bottom" align="left" width="1%"> </td><td style="TEXT-ALIGN: left" valign="bottom" width="1%"> </td><td style="TEXT-ALIGN: right" valign="bottom" width="9%">(13,497</td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%">)</td><td valign="bottom" align="left" width="1%"> </td><td style="TEXT-ALIGN: left" valign="bottom" width="1%"> </td><td style="TEXT-ALIGN: right" valign="bottom" width="9%">(22,502</td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%">)</td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left">Long-term</div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left">Other deferred credits</div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%">(1,651</td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%">)</td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%">(2,394</td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%">)</td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 4px double" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left">Total</div></td><td style="BORDER-BOTTOM: black 4px double" valign="bottom" width="12%">  </td><td style="BORDER-BOTTOM: black 4px double" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right" valign="bottom" width="9%">(15,148</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%">)</td><td style="BORDER-BOTTOM: black 4px double" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right" valign="bottom" width="9%">(25,301</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%">)</td></tr></table></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="justify"> </div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="left">The following table presents the effect of derivatives not designated as hedging instruments on Cleco Corporation and Cleco Power’s Consolidated Statements of Income for the years December 31, 2010 and 2009:</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"> </div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><table cellspacing="0" cellpadding="0" width="100%"><tr><td style="BORDER-TOP: black 0.5pt solid; PADDING-BOTTOM: 2px" valign="bottom" width="64%">  </td><td style="BORDER-TOP: black 0.5pt solid; BORDER-BOTTOM: black 2px solid" valign="bottom" width="12%">  </td><td style="BORDER-TOP: black 0.5pt solid; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="1%"> </td><td style="BORDER-TOP: black 0.5pt solid; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="22%" colspan="6"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">FOR THE YEAR ENDED DECEMBER 31,</div></td><td style="BORDER-TOP: black 0.5pt solid; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap" width="1%"> </td></tr><tr><td style="PADDING-BOTTOM: 2px; TEXT-ALIGN: right" valign="bottom" width="64%">  </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="12%">  </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="10%" colspan="2"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">2010</div></td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="10%" colspan="2"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">2009</div></td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap" width="1%"> </td></tr><tr><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left">(THOUSANDS)</div></td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">LOSS IN INCOME OF</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">DERIVATIVES LINE ITEM</div></td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="10%" colspan="2"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">AMOUNT OF LOSS</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">RECOGNIZED IN</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">INCOME ON</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">DERIVATIVES</div></td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="10%" colspan="2"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">AMOUNT OF LOSS</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">RECOGNIZED IN</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">INCOME ON</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">DERIVATIVES</div></td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td></tr><tr><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left">Commodity contracts</div></td><td valign="bottom" width="12%">  </td><td valign="bottom" width="1%"> </td><td valign="bottom" width="10%" colspan="2"> </td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td valign="bottom" width="1%"> </td><td valign="bottom" width="10%" colspan="2"> </td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left">Economic hedges</div></td><td valign="bottom" align="left" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left">Other operations revenue</div></td><td valign="bottom" align="left" width="1%"> </td><td style="TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="TEXT-ALIGN: right" valign="bottom" width="9%">667</td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%">(1)</td><td valign="bottom" align="left" width="1%"> </td><td style="TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="TEXT-ALIGN: right" valign="bottom" width="9%">1,805</td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%">(1)</td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left">Fuel cost hedges(2)</div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left">Fuel used for electric generation</div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%">36,818</td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%">92,609</td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 4px double" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left">Total</div></td><td style="BORDER-BOTTOM: black 4px double" valign="bottom" width="12%">  </td><td style="BORDER-BOTTOM: black 4px double" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right" valign="bottom" width="9%">37,485</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 4px double" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right" valign="bottom" width="9%">94,414</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td></tr><tr bgcolor="white"><td valign="bottom" align="left" colspan="9"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left">(1)For the years ended December 31, 2010 and 2009, Cleco recognized $0.4 million of mark-to-market gains and $0.2 million of mark-to-market losses, respectively, related to economic hedges.</div></td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" colspan="9"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left">(2)In accordance with the authoritative guidance for regulated operations, an additional $15.1 million of unrealized losses and $1.6 million of deferred losses associated with fuel cost hedges are reported in Accumulated Deferred Fuel on the balance sheet as of December 31, 2010, compared to $24.9 million of unrealized losses and $2.6 million of deferred losses associated with fuel cost hedges as of December 31, 2009. As gains and losses are realized in future periods, they will be recorded as Fuel Used for Electric Generation on the Income Statement.</div></td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td></tr></table></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"> </div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="justify"> </div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="left">At December 31, 2010, Cleco Power had 9.4 million MMBtus hedged for natural gas fuel costs, which is approximately 11% of the estimated natural gas requirements for a two-year period.  At December 31, 2009, Cleco Power had 15.1 million MMBtus hedged or approximately 28% of gas requirements for a two-year period.  The decrease in percentage hedged is primarily due to an increase in Cleco Power’s natural gas requirements.</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="left">The following table presents the fair values of derivatives designated as hedging instruments and their respective line item as recorded on Cleco Corporation and Cleco Power’s Consolidated Balance Sheets as of December 31, 2010, and 2009:</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"> </div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><table cellspacing="0" cellpadding="0" width="100%"><tr><td style="BORDER-TOP: black 0.5pt solid; PADDING-BOTTOM: 2px" valign="bottom" width="64%">  </td><td style="BORDER-TOP: black 0.5pt solid; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="35%" colspan="8"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">DERIVATIVES DESIGNATED AS HEDGING INSTRUMENTS</div></td><td style="BORDER-TOP: black 0.5pt solid; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap" width="1%"> </td></tr><tr><td style="PADDING-BOTTOM: 2px; TEXT-ALIGN: right" valign="bottom" width="64%">  </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="35%" colspan="8"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">LIABILITY DERIVATIVES</div></td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap" width="1%"> </td></tr><tr><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left">(THOUSANDS)</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left">FAIR VALUE </div></td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">BALANCE SHEET LINE ITEM</div></td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="10%" colspan="2"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">AT DECEMBER 31, 2010</div></td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="10%" colspan="2"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">AT DECEMBER 31, 2009</div></td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td></tr><tr><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left">Interest rate swap</div></td><td valign="bottom" width="12%">  </td><td valign="bottom" width="1%"> </td><td valign="bottom" width="10%" colspan="2"> </td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td valign="bottom" width="1%"> </td><td valign="bottom" width="10%" colspan="2"> </td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td></tr><tr><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left">Cash flow hedges:</div></td><td valign="bottom" width="12%">  </td><td valign="bottom" width="1%"> </td><td valign="bottom" width="10%" colspan="2"> </td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td valign="bottom" width="1%"> </td><td valign="bottom" width="10%" colspan="2"> </td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left">Current</div></td><td valign="bottom" align="left" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left">Other current liabilities</div></td><td valign="bottom" align="left" width="1%"> </td><td style="TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="TEXT-ALIGN: right" valign="bottom" width="9%">-</td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td valign="bottom" align="left" width="1%"> </td><td style="TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="TEXT-ALIGN: right" valign="bottom" width="9%">638</td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left">Long-term</div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="12%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left">Other deferred credits</div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%">-</td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%">252</td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td></tr><tr bgcolor="#cceeff"><td style="BORDER-BOTTOM: black 4px double" valign="bottom" align="left" width="64%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left">Total</div></td><td style="BORDER-BOTTOM: black 4px double" valign="bottom" width="12%">  </td><td style="BORDER-BOTTOM: black 4px double" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right" valign="bottom" width="9%">-</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 4px double" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right" valign="bottom" width="9%">890</td><td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td></tr></table></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="justify"> </div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="left">The following table presents the effect of derivatives designated as hedging instruments on Cleco Corporation and Cleco Power’s Consolidated Statements of Income for the years ended December 31, 2010 and 2009:</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"> </div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><table cellspacing="0" cellpadding="0" width="100%"><tr><td style="BORDER-TOP: black 0.5pt solid; PADDING-BOTTOM: 2px" valign="bottom">  </td><td style="BORDER-TOP: black 0.5pt solid; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom"> </td><td style="BORDER-TOP: black 0.5pt solid; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" colspan="6"> </td><td style="BORDER-TOP: black 0.5pt solid; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap"> </td><td style="BORDER-TOP: black 0.5pt solid; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom"> </td><td style="BORDER-TOP: black 0.5pt solid; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" colspan="6"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">FOR THE YEAR ENDED DECEMBER 31,</div></td><td style="BORDER-TOP: black 0.5pt solid; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap"> </td></tr><tr><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom">  </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" colspan="6"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">2010</div></td><td style="PADDING-BOTTOM: 2px; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap"> </td><td style="PADDING-BOTTOM: 2px; TEXT-ALIGN: right" valign="bottom"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" colspan="6"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">2009</div></td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap"> </td></tr><tr><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left">(THOUSANDS)</div></td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" colspan="2"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">AMOUNT OF (LOSS) GAIN</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">RECOGNIZED IN OCI</div></td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" colspan="2"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">AMOUNT OF (LOSS)</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">GAIN RECLASSIFIED</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">FROM ACCUMULATED</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">OCI INTO INCOME</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">(EFFECTIVE PORTION)</div></td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" colspan="2"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">AMOUNT OF (LOSS) GAIN</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">RECOGNIZED IN OCI</div></td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" colspan="2"><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">AMOUNT OF (LOSS)</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">GAIN RECLASSIFIED</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">FROM ACCUMULATED</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">OCI INTO INCOME</div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">(EFFECTIVE PORTION)</div></td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"> </td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left">Interest rate swap(1)</div></td><td valign="bottom" align="left" width="1%"> </td><td style="TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="TEXT-ALIGN: right" valign="bottom" width="9%">(935</td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%">)</td><td valign="bottom" align="left" width="1%"> </td><td style="TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="TEXT-ALIGN: right" valign="bottom" width="9%">(694</td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%">)*</td><td valign="bottom" align="left" width="1%"> </td><td style="TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="TEXT-ALIGN: right" valign="bottom" width="9%">(1,186</td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%">)</td><td valign="bottom" align="left" width="1%"> </td><td style="TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="TEXT-ALIGN: right" valign="bottom" width="9%">(299</td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%">)*</td></tr><tr bgcolor="white"><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="52%"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left">Treasury rate locks</div></td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%">5,674</td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%">182</td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%">*</td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%">4,324</td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid" valign="bottom" align="left" width="1%"> </td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%">$</td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%">14</td><td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap" width="1%"> </td></tr><tr bgcolor="#cceeff"><td valign="bottom" align="left" colspan="4"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left">* The (loss) gain reclassified from accumulated OCI into income (effective portion) is reflected in interest charges.</div></td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"> </td><td valign="bottom"> </td><td style="TEXT-ALIGN: left" valign="bottom"> </td><td style="TEXT-ALIGN: right" valign="bottom"> </td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"> </td><td valign="bottom"> </td><td style="TEXT-ALIGN: left" valign="bottom"> </td><td style="TEXT-ALIGN: right" valign="bottom"> </td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"> </td><td valign="bottom"> </td><td style="TEXT-ALIGN: left" valign="bottom"> </td><td style="TEXT-ALIGN: right" valign="bottom"> </td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"> </td></tr><tr bgcolor="white"><td valign="bottom" align="left" colspan="16"><div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left">(1) In November 2010, the interest rate swap was terminated. The remaining $1.1 million of losses in accumulated OCI were reclassified to other expense.</div></td><td style="TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"> </td></tr></table></div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="left"> </div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="left">At December 31, 2010, Cleco Power expected $0.4 million of the effective portion of treasury rate locks cash flow hedges to be reclassed from accumulated OCI to a reduction in interest charges over the next 12 months.  </div>Note 5 — Fair Value Accounting The amounts reflected in Cleco Corporation and Cleco Power’s Consolidated Balance Sheets at December 31, 2010, andfalsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringThis item represents the complete disclosure regarding the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the Company is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risk is are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 107 -Paragraph 15B -Subparagraph a, b Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 107 -Paragraph 3, 10, 14, 15 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 133 -Paragraph 44A, 44B Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 32, 33, 34 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 107 -Paragraph 15C, 15D Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 107 -Paragraph 15A -Subparagraph a-d Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 159 -Paragraph 17-22, 27, 28 falsefalseFair Value Accounting12Fair Value AccountingUnKnownUnKnownUnKnownUnKnownfalsetrue