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Revenue Recognition
 6 Months Ended
Jun. 30, 2025
Revenue from Contract with Customer [Abstract]  
Revenue Recognition
Note 4 — Revenue Recognition

Disaggregated Revenue
Operating revenue, net for the three and six months ended June 30, 2025, and 2024 was as follows:
FOR THE THREE MONTHS ENDED JUNE 30, 2025
(THOUSANDS)CLECO POWEROTHERELIMINATIONSTOTAL
Revenue from contracts with customers
Retail revenue
Residential(1)
$131,252 $— $— $131,252 
Commercial(1)
85,209 — — 85,209 
Industrial(1)
47,816 — — 47,816 
Other retail(1)
4,715 — — 4,715 
Total retail revenue268,992 — — 268,992 
Wholesale, net 17,756 
(1)
(186)
(2)
— 17,570 
Transmission10,112 — — 10,112 
Other 4,289 — (10)4,279 
Affiliate(3)
245 16,594 (16,839)— 
Total revenue from contracts with customers301,394 16,408 (16,849)300,953 
Revenue unrelated to contracts with customers
Securitization
15,981 — — 15,981 
Other 3,089 
(4)
1,738 
(5)
— 4,827 
Total revenue unrelated to contracts with customers 19,070 1,738 — 20,808 
Operating revenue, net$320,464 $18,146 $(16,849)$321,761 
(1) Includes fuel recovery revenue.
(2) Amortization of intangible assets related to Cleco Power’s wholesale power supply agreement.
(3) Includes interdepartmental rents and support services. This revenue is eliminated upon consolidation.
(4) Realized gains associated with FTRs.
(5) Primarily related to the other services agreement as a result of the Cleco Cajun Divestiture.
FOR THE THREE MONTHS ENDED JUNE 30, 2024
(THOUSANDS)CLECO POWEROTHERELIMINATIONSTOTAL
Revenue from contracts with customers
Retail revenue
Residential(1)
$103,426 $— $— $103,426 
Commercial(1)
67,582 — — 67,582 
Industrial(1)
35,870 — — 35,870 
Other retail(1)
3,618 — — 3,618 
Electric customer credits(548)— — (548)
Total retail revenue209,948 — — 209,948 
Wholesale, net18,078 
(1)
(186)
(2)
— 17,892 
Transmission9,458 — — 9,458 
Other5,118 — — 5,118 
Affiliate(3)
1,522 27,756 (29,278)— 
Total revenue from contracts with customers244,124 27,570 (29,278)242,416 
Revenue unrelated to contracts with customers
Securitization
7,806 — — 7,806 
Other782 
(4)
1,181 
(5)
— 1,963 
Total revenue unrelated to contracts with customers 8,588 1,181 — 9,769 
Operating revenue, net$252,712 $28,751 $(29,278)$252,185 
(1) Includes fuel recovery revenue.
(2) Amortization of intangible assets related to Cleco Power’s wholesale power supply agreements.
(3) Includes interdepartmental rents and support services. This revenue is eliminated upon consolidation.
(4) Realized gains associated with FTRs.
(5) Primarily related to the other services agreement and transition services agreement as a result of the Cleco Cajun Divestiture.
FOR THE SIX MONTHS ENDED JUNE 30, 2025
(THOUSANDS)CLECO POWEROTHERELIMINATIONSTOTAL
Revenue from contracts with customers
Retail revenue
Residential(1)
$245,906 $— $— $245,906 
Commercial(1)
166,313 — — 166,313 
Industrial(1)
95,844 — — 95,844 
Other retail(1)
9,223 — — 9,223 
Total retail revenue517,286 — — 517,286 
Wholesale, net 38,620 
(1)
(372)
(2)
— 38,248 
Transmission, net21,036 — — 21,036 
Other 8,836 — (19)8,817 
Affiliate(3)
490 37,425 (37,915)— 
Total revenue from contracts with customers586,268 37,053 (37,934)585,387 
Revenue unrelated to contracts with customers
Securitization
23,965 — — 23,965 
Other 4,060 
(4)
3,593 
(5)
— 7,653 
Total revenue unrelated to contracts with customers 28,025 3,593 — 31,618 
Operating revenue, net$614,293 $40,646 $(37,934)$617,005 
(1) Includes fuel recovery revenue.
(2) Amortization of intangible assets related to Cleco Power’s wholesale power supply agreements.
(3) Includes interdepartmental rents and support services. This revenue is eliminated upon consolidation.
(4) Realized gains associated with FTRs.
(5) Primarily related to the other services agreement as a result of the Cleco Cajun Divestiture.

FOR THE SIX MONTHS ENDED JUNE 30, 2024
(THOUSANDS)CLECO POWEROTHERELIMINATIONSTOTAL
Revenue from contracts with customers
Retail revenue
Residential(1)
$195,438 $— $— $195,438 
Commercial(1)
135,728 — — 135,728 
Industrial(1)
75,271 — — 75,271 
Other retail(1)
7,350 — — 7,350 
Electric customer credits(2,395)— — (2,395)
Total retail revenue411,392 — — 411,392 
Wholesale, net67,933 
(1)
(2,509)
(2)
— 65,424 
Transmission, net23,352 — — 23,352 
Other10,367 — — 10,367 
Affiliate(3)
10,391 57,423 (67,814)— 
Total revenue from contracts with customers523,435 54,914 (67,814)510,535 
Revenue unrelated to contracts with customers
Securitization
15,880 — — 15,880 
Other1,430 
(4)
1,182 
(5)
— 2,612 
Total revenue unrelated to contracts with customers 17,310 1,182 — 18,492 
Operating revenue, net$540,745 $56,096 $(67,814)$529,027 
(1) Includes fuel recovery revenue.
(2) Amortization of intangible assets related to Cleco Power’s wholesale power supply agreements.
(3) Includes interdepartmental rents and support services. This revenue is eliminated upon consolidation.
(4) Realized gains associated with FTRs.
(5) Primarily related to the other services agreement and transition services agreement as a result of the Cleco Cajun Divestiture.
Cleco has elected not to disclose the value of unsatisfied performance obligations for contracts with an original expected term of one year or less, or for revenue recognized in an amount equal to what Cleco and Cleco Power have the right to bill the customer for services performed. Cleco’s contracts are based on demand, except in a few cases where there are defined minimums or stated terms. This results in customer bills that vary each month based on an approved tariff and usage. In limited cases, Cleco may impose monthly or annual minimum capacity requirements on some customers primarily as a credit and cost recovery guarantee and not as pricing for unsatisfied performance obligations. These minimums typically
expire after the initial term or when specified costs have been recovered. The minimum amounts are part of each month’s bill and recognized as revenue accordingly. The total fixed consideration related to unsatisfied performance obligations is not material to Cleco’s revenues.