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Pension Plan and Employee Benefits (Tables)
 12 Months Ended
Dec. 31, 2024
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]  
Schedule of Reconciliation of Benefit Obligations, Plan Assets and Funded Status of Pension Plans
The employee pension plan and Other Benefits plan obligation, plan assets, and funded status at December 31, 2024, and 2023 are presented in the following table:
 PENSION BENEFITSOTHER BENEFITS
FOR THE YEAR ENDED DEC. 31,FOR THE YEAR ENDED DEC. 31,
(THOUSANDS)2024202320242023
Change in benefit obligation
Benefit obligation at beginning of period
$525,482 $500,869 $47,056 $43,306 
Service cost
4,619 4,977 1,907 1,472 
Interest cost
26,140 26,423 2,322 2,285 
Actuarial loss (gain)
(25,647)26,300 (2,011)(5,110)
Expenses paid
(3,396)(3,018)— — 
Transfer to Cleco Cajun Purchasers
(1,674)— — — 
Derecognition of Cleco Cajun liability— — (380)— 
Benefits paid(30,660)(30,069)(4,891)(5,117)
Benefit obligation at end of period
494,864 525,482 44,003 47,056 
Change in plan assets
Fair value of plan assets at beginning of period
408,159 402,285 — — 
Actual (loss) gain return on plan assets11,091 38,761 — — 
Employer contributions
25,750 200 — — 
Expenses paid
(3,396)(3,018)— — 
Transfer to Cleco Cajun Purchasers
(1,674)— — — 
Benefits paid(30,660)(30,069)— — 
Fair value of plan assets at end of period
409,270 408,159 — — 
Unfunded status$(85,594)$(117,323)$(44,003)$(47,056)
SERP’s funded status at December 31, 2024, and 2023 is presented in the following table:

 SERP BENEFITS
FOR THE YEAR ENDED DEC. 31,
(THOUSANDS)20242023
Change in benefit obligation
Benefit obligation at beginning of period
$67,462 $68,427 
Service cost134 142 
Interest cost3,343 3,604 
Actuarial gain(2,814)(345)
Benefits paid(4,582)(4,366)
Benefit obligation at end of period
$63,543 $67,462 
Schedule of Amounts Recognized in Balance Sheet
The current and non-current portions of the Pension Benefits liability for Cleco and Cleco Power at December 31, 2024, and 2023 are as follows:

AT DEC. 31,
(THOUSANDS)
2024
2023
Current$16,344 $25,685 
Non-current$69,250 $91,638 
The current and non-current portions of the Other Benefits liability for Cleco and Cleco Power at December 31, 2024, and 2023 are as follows:
Cleco
AT DEC. 31,
(THOUSANDS)20242023
Current$5,279 $5,241 
Non-current$38,724 $41,815 
The current and non-current portions of the SERP liability for Cleco and Cleco Power at December 31, 2024, and 2023 are as follows:
Cleco
AT DEC. 31,
(THOUSANDS)20242023
Current$4,815 $4,593 
Non-current$58,728 $62,868 
Schedule of Accumulated Benefit Obligation
The employee pension plan accumulated benefit obligation at December 31, 2024, and 2023 is presented in the following table:

 PENSION BENEFITS
AT DEC. 31,
(THOUSANDS)20242023
Accumulated benefit obligation$479,948 $505,508 
SERP’s accumulated benefit obligation at December 31, 2024, and 2023 is presented in the following table:

 SERP BENEFITS
AT DEC. 31,
(THOUSANDS)20242023
Accumulated benefit obligation$63,543 $67,462 
Schedule of Amounts Recognized in Other Comprehensive Income
The following table presents the net actuarial gains/losses included in other comprehensive income for Other Benefits and in regulatory assets for pension related to current year gains and losses as a result of being included in net periodic benefit costs for the employee pension plan and Other Benefits plan for the years ended December 31, 2024, and 2023:
PENSION BENEFITSOTHER BENEFITS
FOR THE YEAR ENDED DEC. 31,FOR THE YEAR ENDED DEC. 31,
(THOUSANDS)2024202320242023
Net actuarial (gain) loss occurring during period
$(6,310)$17,082 $(1,964)$5,110 
Net actuarial loss (gain) amortized during period
$— $— $653 $(45)
The following table presents net actuarial gains/losses and prior service credits included in other comprehensive income or regulatory assets related to current year gains and losses as a result of being amortized as a component of net periodic benefit costs for SERP for December 31, 2024, and 2023:

 SERP BENEFITS
FOR THE YEAR ENDED DEC. 31,
(THOUSANDS)20242023
Net actuarial gain occurring during year$(2,814)$(345)
Net actuarial loss amortized during year
$(58)$(63)
Prior service credit amortized during year
$(215)$(215)
Schedule of Amounts Recognized in Accumulated Other Comprehensive Income
The following table presents net actuarial gains/losses in accumulated other comprehensive income that have not been recognized as components of net periodic benefit costs for the employee pension plan and Other Benefits plans at December 31, 2024, and 2023:
PENSION BENEFITSOTHER BENEFITS
AT DEC. 31,AT DEC. 31,
(THOUSANDS)2024202320242023
Net actuarial loss$58,089 $64,399 $9,685 $13,103 
The following table presents net actuarial losses and prior service credit in accumulated other comprehensive income and regulatory assets that have not been recognized as components of net periodic benefit costs for SERP at December 31, 2024, and 2023:
 SERP BENEFITS
AT DEC. 31
(THOUSANDS)20242023
Net actuarial loss$4,948 $7,819 
Prior service credit$(870)$(1,085)
Schedule of Components of Net Periodic Pension and Other Benefit Costs The components of net periodic pension and Other Benefits costs for 2024, 2023, and 2022 are as follows:
PENSION BENEFITSOTHER BENEFITS
FOR THE YEAR ENDED DEC. 31,FOR THE YEAR ENDED DEC. 31,
(THOUSANDS)202420232022202420232022
Components of periodic benefit costs
Service cost$4,619 $4,977 $8,589 $1,907 $1,472 $2,204 
Interest cost26,140 26,423 19,841 2,322 2,285 1,484 
Expected return on plan assets(30,428)(29,544)(24,706)— — — 
Amortizations
Net loss (gain)
— — 12,332 646 (45)1,210 
Gain on derecognition of Cleco Cajun
— — — (169)— — 
Net periodic benefit cost$331 $1,856 $16,056 $4,706 $3,712 $4,898 
The components of the net SERP costs for 2024, 2023, and 2022 are as follows:
 SERP BENEFITS
FOR THE YEAR ENDED DEC. 31,
(THOUSANDS)202420232022
Components of periodic benefit costs
Service cost$134 $142 $227 
Interest cost3,343 3,604 2,679 
Amortizations
Prior service credit(215)(215)(215)
Net (gain) loss
(81)(63)1,049 
Net periodic benefit cost$3,181 $3,468 $3,740 
Schedule of Weighted-Average Assumptions Used to Determine Benefit Obligation and Net Periodic Costs The assumptions used to determine the benefit obligation and the periodic costs are as follows:
 PENSION BENEFITSOTHER BENEFITS
AT DEC. 31,AT DEC. 31,
 2024202320242023
Weighted-average assumptions used to determine the benefit obligation    
Discount rate5.66 %5.13 %5.61 %5.25 %
Rate of compensation increase
3.00 %3.50 %N/AN/A

 PENSION BENEFITSOTHER BENEFITS
FOR THE YEAR ENDED DEC. 31,FOR THE YEAR ENDED DEC. 31,
 202420232022202420232022
Weighted-average assumptions used to determine the net benefit cost
Discount rate5.13 %5.44 %2.98 %5.25 %5.61 %2.82 %
Expected return on plan assets
6.68 %6.60 %5.25 %N/AN/AN/A
Rate of compensation increase
3.50 %2.76 %2.73 %N/AN/AN/A
The assumptions used to determine the benefit obligation and the periodic costs are as follows:
 SERP BENEFITS
AT DEC. 31,
 20242023
Weighted-average assumptions used to determine the benefit obligation
  
Discount rate5.65 %5.13 %
Rate of compensation increaseN/AN/A
 SERP BENEFITS
FOR THE YEAR ENDED DEC. 31,
 202420232022
Weighted-average assumptions used to determine the net benefit cost
Discount rate5.13 %5.46 %2.95 %
Rate of compensation increaseN/AN/AN/A
Schedule of Fair Value Allocation of Pension Plan The following tables disclose the pension plan’s fair value of financial assets measured on a recurring basis:
(THOUSANDS)AT DEC. 31, 2024QUOTED PRICES
IN ACTIVE
MARKETS FOR
IDENTICAL ASSETS
(LEVEL 1)		SIGNIFICANT
OTHER
OBSERVABLE
INPUTS
(LEVEL 2)		SIGNIFICANT
UNOBSERVABLE
INPUTS
(LEVEL 3)
Asset Description    
Cash equivalents$5,818 $— $5,818 $— 
Mutual funds
Domestic
121,954 121,954 — — 
Corporate debt76,712 — 76,712 — 
Total$204,484 $121,954 $82,530 $— 
Investments measured at net asset value(1)
204,476 
Interest accrual310 
Total net assets$409,270 
(1) Investments measured at net asset value consist of Common/collective trust and real estate fund investments.
(THOUSANDS)AT DEC. 31, 2023QUOTED PRICES
IN ACTIVE
MARKETS FOR
IDENTICAL ASSETS
(LEVEL 1)		SIGNIFICANT
OTHER
OBSERVABLE
INPUTS
(LEVEL 2)
SIGNIFICANT
UNOBSERVABLE
INPUTS
(LEVEL 3)(1)
Asset Description    
Cash equivalents$22,250 $— $22,250 $— 
Government securities
14,418 — 14,418 — 
Mutual funds
Domestic
85,821 85,821 — — 
International
42,083 42,083 — — 
Corporate debt94,677 — 94,677 — 
Total$259,249 $127,904 $131,345 $— 
Investments measured at net asset value(2)
147,142 
Interest accrual1,768 
Total net assets$408,159 
(1) The classification of real estate funds previously presented as Level 3 assets of $35.0 million at December 31, 2023, have been revised to correct a disclosure error and are presented as investments for which net asset value is used as a practical expedient to approximate fair value in accordance with GAAP.
(2) Investments measured at net asset value consist of Common/collective trust and real estate fund investments.
The general funded status to target portfolio allocations are as follows:

FUNDED STATUS
RETURN-SEEKING
LIABILITY-HEDGING
CREDIT
LIABILITY-HEDGING
GOVERNMENT
≤ 80%
60%
20%
20%
80% to 100%
60% to 47%
20% to 37%
20% to 16%
100% to 115%
47% to 10%
37% to 83%
16% to 7%
≥ 115%
10%
83%
7%
Schedule of Projected Benefit Payments and Projected Receipts
The projected benefit payments for the employee pension plan and Other Benefits plan for each year through 2029 and the next five years thereafter are listed in the following table:

(THOUSANDS)PENSION BENEFITSOTHER
BENEFITS,
GROSS
For the year ending Dec. 31,
2025$32,189 $5,279 
2026$33,030 $5,065 
2027$33,741 $5,052 
2028$34,377 $4,990 
2029$34,929 $4,869 
Five years thereafter$178,546 $22,229 
The projected benefit payments for SERP for each year through 2029 and the next five years thereafter are shown in the following table:

(THOUSANDS)20252026202720282029FIVE
YEARS
THEREAFTER
SERP$4,815 $4,935 $4,888 $4,872 $4,842 $23,218 
Schedule of 401(k) Plan Expense Cleco’s 401(k) Plan expense for the years ended December 31, 2024, 2023, and 2022 was as follows:
 FOR THE YEAR ENDED DEC. 31,
(THOUSANDS)202420232022
401(k) Plan expense
$9,069 $7,770 $7,310 
The expense of the 401(k) Plan related to Cleco’s other subsidiaries for the years ended December 31, 2024, 2023, and 2022 was as follows:
 FOR THE YEAR ENDED DEC. 31,
(THOUSANDS)202420232022
401(k) Plan expense
$3,071 $2,859 $2,685 
CLECO POWER  
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]  
Schedule of Amounts Recognized in Balance Sheet
The current and non-current portions of the Pension Benefits liability for Cleco and Cleco Power at December 31, 2024, and 2023 are as follows:

AT DEC. 31,
(THOUSANDS)
2024
2023
Current$16,344 $25,685 
Non-current$69,250 $91,638 
Cleco Power
AT DEC. 31,
(THOUSANDS)20242023
Current$4,524 $4,479 
Non-current$30,054 $32,289 
Cleco Power
AT DEC. 31,
(THOUSANDS)20242023
Current$833 $613 
Non-current$10,160 $8,394