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Regulatory Assets and Liabilities (Tables)
 6 Months Ended
Jun. 30, 2025
Regulatory Assets [Line Items]  
Schedule of Regulatory Assets
The following table summarizes Cleco’s net regulatory assets and liabilities:

Cleco
(THOUSANDS)AT JUNE 30, 2025AT DEC. 31, 2024
Total Cleco Power regulatory assets, net$175,477 $412,878 
2016 Merger adjustments(1)
Fair value of long-term debt86,241 89,941 
Postretirement costs6,467 7,461 
Financing costs6,045 6,217 
Debt issuance costs3,743 3,921 
Total Cleco regulatory assets, net$277,973 $520,418 
(1) Cleco regulatory assets include acquisition accounting adjustments as a result of the 2016 Merger.
CLECO POWER  
Regulatory Assets [Line Items]  
Schedule of Regulatory Assets
The following table summarizes Cleco Power’s regulatory assets and liabilities:
Cleco Power
REMAINING
RECOVERY
PERIOD
(YRS.)
(THOUSANDS)AT JUNE 30, 2025AT DEC. 31, 2024
Regulatory assets
Acadia Unit 1 acquisition costs$1,543 $1,596 14.5
Accumulated deferred fuel(1)
30,193 457 Various
(2)
Affordability study8,270 8,959 6
AFUDC equity gross-up55,736 57,284 Various
(3)
AMI deferred revenue requirement136 409 0.75
AROs(4)
11,894 11,073 
Coughlin transaction costs738 753 24
COVID-19 executive order
2,818 3,372 2
Deferred lignite and mine closure costs and Dolet Hills Power Station closure costs
— 258,951 
Deferred taxes, net14,312 2,008 Various
(2)
Dolet Hills carrying charge(4)
8,278 4,729 
Financing costs(1)
5,532 5,717 Various
(5)
Interest costs2,587 2,712 Various
(3)
Madison Unit 3 property taxes
14,912 14,196 Various
(6)
Non-service cost of postretirement benefits13,634 14,057 Various
(3)
Postretirement costs58,089 58,089 Various
(7)
Production operations and maintenance expenses
2,884 4,939 Various
(8)
Rodemacher Unit 2 deferred costs(4)
31,396 27,265 
Solar development costs(4)
2,122 2,122 
St. Mary Clean Energy Center— 870 
Training costs5,385 5,462 34.5
Tree trimming costs
— 943 
Other22,088 12,920 Various
(2)
Total regulatory assets292,547 498,883 
Regulatory liabilities
Deferred taxes, net(6,357)(6,827)Various
(2)
Energy transition reserve(9)
(39,842)— 
Interest earned on energy transition reserve(9)
(238)— 
Residential revenue decoupling(9)
(3,000)(3,000)
Storm reserve
(67,633)(76,178)
Total regulatory liabilities(117,070)(86,005)
Total regulatory assets, net$175,477 $412,878 
(1) Represents regulatory assets for past expenditures that were not earning a return on investment at June 30, 2025, and December 31, 2024. All other assets are earning a return on investment.
(2) For more information on the remaining recovery period, see Part II, Item 8, “Financial Statements and Supplementary Data — Note 6 — Regulatory Assets and Liabilities” for the disclosures for each specific regulatory asset or liability in the Registrants’ Combined Annual Report on Form 10-K for the fiscal year ended December 31, 2024.
(3) Amortized over the estimated lives of the respective assets.
(4) Currently not in a recovery period.
(5) Amortized over the terms of the related debt issuances.
(6) Beginning July 1, 2021, property taxes paid for the year ended December 31, are being amortized over the subsequent 12 months beginning July 1.
(7) Amortized over the average service life of the remaining plan participants.
(8) Deferral is recovered over the following three-year regulatory period.
(9) Currently not in a refund period.
Schedule of Regulatory Liabilities
The following table summarizes Cleco Power’s regulatory assets and liabilities:
Cleco Power
REMAINING
RECOVERY
PERIOD
(YRS.)
(THOUSANDS)AT JUNE 30, 2025AT DEC. 31, 2024
Regulatory assets
Acadia Unit 1 acquisition costs$1,543 $1,596 14.5
Accumulated deferred fuel(1)
30,193 457 Various
(2)
Affordability study8,270 8,959 6
AFUDC equity gross-up55,736 57,284 Various
(3)
AMI deferred revenue requirement136 409 0.75
AROs(4)
11,894 11,073 
Coughlin transaction costs738 753 24
COVID-19 executive order
2,818 3,372 2
Deferred lignite and mine closure costs and Dolet Hills Power Station closure costs
— 258,951 
Deferred taxes, net14,312 2,008 Various
(2)
Dolet Hills carrying charge(4)
8,278 4,729 
Financing costs(1)
5,532 5,717 Various
(5)
Interest costs2,587 2,712 Various
(3)
Madison Unit 3 property taxes
14,912 14,196 Various
(6)
Non-service cost of postretirement benefits13,634 14,057 Various
(3)
Postretirement costs58,089 58,089 Various
(7)
Production operations and maintenance expenses
2,884 4,939 Various
(8)
Rodemacher Unit 2 deferred costs(4)
31,396 27,265 
Solar development costs(4)
2,122 2,122 
St. Mary Clean Energy Center— 870 
Training costs5,385 5,462 34.5
Tree trimming costs
— 943 
Other22,088 12,920 Various
(2)
Total regulatory assets292,547 498,883 
Regulatory liabilities
Deferred taxes, net(6,357)(6,827)Various
(2)
Energy transition reserve(9)
(39,842)— 
Interest earned on energy transition reserve(9)
(238)— 
Residential revenue decoupling(9)
(3,000)(3,000)
Storm reserve
(67,633)(76,178)
Total regulatory liabilities(117,070)(86,005)
Total regulatory assets, net$175,477 $412,878 
(1) Represents regulatory assets for past expenditures that were not earning a return on investment at June 30, 2025, and December 31, 2024. All other assets are earning a return on investment.
(2) For more information on the remaining recovery period, see Part II, Item 8, “Financial Statements and Supplementary Data — Note 6 — Regulatory Assets and Liabilities” for the disclosures for each specific regulatory asset or liability in the Registrants’ Combined Annual Report on Form 10-K for the fiscal year ended December 31, 2024.
(3) Amortized over the estimated lives of the respective assets.
(4) Currently not in a recovery period.
(5) Amortized over the terms of the related debt issuances.
(6) Beginning July 1, 2021, property taxes paid for the year ended December 31, are being amortized over the subsequent 12 months beginning July 1.
(7) Amortized over the average service life of the remaining plan participants.
(8) Deferral is recovered over the following three-year regulatory period.
(9) Currently not in a refund period.