Profile: Cleco Corporation (CNL)

Cleco Corporation, incorporated on October 30, 1998, is a public utility company, which holds investments in several subsidiaries. The Company operates in two business segments: Cleco Power and Midstream. Cleco Power, an integrated electric utility services company regulated by the Louisiana Public Service Commission (LPSC), Federal Energy Regulatory Commission (FERC), and other regulators, which serves approximately 276,000 customers across Louisiana and also engages in energy management activities. Midstream, an energy company regulated by FERC owns and operates the power plant (Evangeline). Midstream also owns a 50% interest in a merchant power plant (Acadia) and operates the plant on behalf of its partner.

Cleco Power

Cleco Power operates and either owns or has an ownership interest in three steam electric generating stations and one gas turbine. During the year ended December 31, 2008, Cleco Power’s aggregate net electric generating capacity was 1,318 megawatt. In May 2006, Cleco Power began construction of Rodemacher Unit 3, a 600-MW solid-fuel power plant at its Rodemacher facility, which will provide a portion of the utility’s power supply needs. Rodemacher Unit 3 will be capable of burning various solid fuels, but primarily is expected to burn petroleum coke produced by several refineries throughout the Gulf Coast region. During 2008, 55.7% of Cleco Power’s energy requirements were met with purchased power. In 2008, Cleco Power obtained approximately 40.4% of its annual capacity from short- and long-term power purchase agreements. During 2008, Cleco Power purchased a total of 17,087,000 thousand thousand British thermal units (MMBtu) of natural gas for the generation of electricity.

Midstream

In 2008, Midstream the wholly and directly owned four active limited liability companies that operated mainly in Louisiana. Evangeline owns and operates a combined-cycle natural gas-fired power plant. APH owns 50% of Acadia, a combined-cycle natural gas-fired power plant. Generation Services offer power station operations and maintenance services. CLE Intrastate owns a natural gas interconnection that allows Evangeline to access the natural gas supply market.