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Regulatory Assets and Liabilities (Tables)
 12 Months Ended
Dec. 31, 2025
Regulatory Assets and Liabilities [Line Items]  
Schedule of Regulatory Assets
The following table summarizes Cleco’s net regulatory assets and liabilities:

Cleco
AT DEC. 31,
(THOUSANDS)20252024
Total Cleco Power regulatory assets, net
$189,407 $412,878 
2016 Merger adjustments (1)
Fair value of long-term debt82,553 89,941 
Postretirement costs5,473 7,461 
Financing costs5,873 6,217 
Debt issuance costs3,581 3,921 
Total Cleco regulatory assets, net$286,887 $520,418 
(1) Cleco regulatory assets include acquisition accounting adjustments as a result of the 2016 Merger.
Schedule of Regulatory Liabilities
The following table summarizes Cleco’s net regulatory assets and liabilities:

Cleco
AT DEC. 31,
(THOUSANDS)20252024
Total Cleco Power regulatory assets, net
$189,407 $412,878 
2016 Merger adjustments (1)
Fair value of long-term debt82,553 89,941 
Postretirement costs5,473 7,461 
Financing costs5,873 6,217 
Debt issuance costs3,581 3,921 
Total Cleco regulatory assets, net$286,887 $520,418 
(1) Cleco regulatory assets include acquisition accounting adjustments as a result of the 2016 Merger.
CLECO POWER  
Regulatory Assets and Liabilities [Line Items]  
Schedule of Regulatory Assets
The following table summarizes Cleco Power’s regulatory assets and liabilities:
Cleco Power
AT DEC. 31,
REMAINING
RECOVERY PERIOD (YRS.)
(THOUSANDS)20252024
Regulatory assets
Acadia Unit 1 acquisition costs$1,490 $1,596 14
Accumulated deferred fuel(1)
22,910 457 Various

Affordability study7,581 8,959 5.5
AFUDC equity gross-up54,188 57,284 Various
(3)
AMI deferred revenue requirement
— 409 
AROs
21,370 11,073 Various
(2)
Coughlin transaction costs722 753 23.5
COVID-19 executive order
2,113 3,372 1.5
Deferred lignite and mine closure costs and Dolet Hills Power Station closure costs
— 258,951 
Deferred taxes, net35,311 2,008 Various
(2)
Dolet Hills carrying charge
2,957 4,729 
Financing costs(1)
5,347 5,717 Various
(5)
Interest costs2,463 2,712 Various
(3)
Madison Unit 3 property taxes
15,350 14,196 Various
(6)
Non-service cost of postretirement benefits13,204 14,057 Various
(3)
Northlake Transmission Agreement(10)
4,587 2,542 Various
(2)
Postretirement costs51,451 58,089 Various
(7)
Production operations and maintenance expenses
14,809 4,939 Various
(8)
Rodemacher Unit 2 deferred costs(4)
35,655 27,265 
Solar development costs(4)
2,122 2,122 
St. Mary Clean Energy Center— 870 
Training costs5,306 5,462 34
Tree trimming costs
— 943 
Other9,970 10,378 Various
(2)
Total regulatory assets308,906 498,883 
Regulatory liabilities
Deferred taxes, net(6,368)(6,827)Various
(2)
Energy transition reserve(9)
(38,360)— 
Interest earned on energy transition reserve(9)
(831)— 
Residential revenue decoupling
(4,500)(3,000)
Storm reserve
(69,440)(76,178)
Total regulatory liabilities(119,499)(86,005)
Total regulatory assets, net$189,407 $412,878  
(1) Represents regulatory assets for past expenditures that were not earning a return on investment at December 31, 2025, and 2024, respectively. All other assets are earning a return on investment.
(2) For more information on the remaining recovery period, refer to the following disclosures for each specific regulatory asset or liability.
(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.
(10) Previously included in Other but presented as its own line item at December 31, 2025, due to increased materiality of the comparative periods.
Schedule of Regulatory Liabilities
The following table summarizes Cleco Power’s regulatory assets and liabilities:
Cleco Power
AT DEC. 31,
REMAINING
RECOVERY PERIOD (YRS.)
(THOUSANDS)20252024
Regulatory assets
Acadia Unit 1 acquisition costs$1,490 $1,596 14
Accumulated deferred fuel(1)
22,910 457 Various

Affordability study7,581 8,959 5.5
AFUDC equity gross-up54,188 57,284 Various
(3)
AMI deferred revenue requirement
— 409 
AROs
21,370 11,073 Various
(2)
Coughlin transaction costs722 753 23.5
COVID-19 executive order
2,113 3,372 1.5
Deferred lignite and mine closure costs and Dolet Hills Power Station closure costs
— 258,951 
Deferred taxes, net35,311 2,008 Various
(2)
Dolet Hills carrying charge
2,957 4,729 
Financing costs(1)
5,347 5,717 Various
(5)
Interest costs2,463 2,712 Various
(3)
Madison Unit 3 property taxes
15,350 14,196 Various
(6)
Non-service cost of postretirement benefits13,204 14,057 Various
(3)
Northlake Transmission Agreement(10)
4,587 2,542 Various
(2)
Postretirement costs51,451 58,089 Various
(7)
Production operations and maintenance expenses
14,809 4,939 Various
(8)
Rodemacher Unit 2 deferred costs(4)
35,655 27,265 
Solar development costs(4)
2,122 2,122 
St. Mary Clean Energy Center— 870 
Training costs5,306 5,462 34
Tree trimming costs
— 943 
Other9,970 10,378 Various
(2)
Total regulatory assets308,906 498,883 
Regulatory liabilities
Deferred taxes, net(6,368)(6,827)Various
(2)
Energy transition reserve(9)
(38,360)— 
Interest earned on energy transition reserve(9)
(831)— 
Residential revenue decoupling
(4,500)(3,000)
Storm reserve
(69,440)(76,178)
Total regulatory liabilities(119,499)(86,005)
Total regulatory assets, net$189,407 $412,878  
(1) Represents regulatory assets for past expenditures that were not earning a return on investment at December 31, 2025, and 2024, respectively. All other assets are earning a return on investment.
(2) For more information on the remaining recovery period, refer to the following disclosures for each specific regulatory asset or liability.
(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.
(10) Previously included in Other but presented as its own line item at December 31, 2025, due to increased materiality of the comparative periods.