Profile: Cleco Corp (CNL.N)
24 May 2013
Cleco Corporation (Cleco), incorporated on October 30, 1998, is a public utility holding company which holds investments in several subsidiaries, including Cleco Power LLC and its subsidiaries (Cleco Power) and Cleco Midstream Resources LLC (Midstream), which are its operating business segments. Cleco Power is an electric utility engaged principally in the generation, transmission, distribution and sale of electricity within Louisiana. Cleco Power serves approximately 281,000 customers in Louisiana through its retail business and 10 communities across Louisiana and Mississippi through wholesale power contracts. Midstream is a merchant energy subsidiary that owns and operates a merchant power plant (Coughlin). As of December 31, 2011, Cleco Corporation, through two wholly owned subsidiaries, owned one transmission substation in Louisiana and one transmission substation in Mississippi.
In December 2011, Cleco Power retired Teche Unit 2. As of December 31, 2011, Cleco Power’s aggregate net electric generating capacity was 2,488 megawatt. During the year ended December 31, 2011, Cleco Power purchased 32.7 million million British thermal units of natural gas for the generation of electricity. Cleco Power owns natural gas pipelines and interconnections at all of its generating facilities, which allow it to access various natural gas supply markets and maintain a fuel supply for Cleco Power’s customers. As of December 31, 2011, Midstream wholly and directly owned three active limited liability companies that operated mainly in Louisiana include Cleco Evangeline LLC (Evangeline), Acadia Power Holdings LLC (APH) and Cleco Generation Services LLC (Generation Services).
Evangeline owns and operates Coughlin, a combined-cycle natural gas-fired power plant and owns a natural gas interconnection that allows for access to the natural gas supply market. As of December 31, 2011, Cleco Power either owned or had an ownership interest in three steam electric generating stations, one gas turbine, one combined cycle unit, and one simple cycle unit with a combined nameplate capacity of 2,524 megawatt, and a combined electric net generating capacity of 2,488 megawatt. As of December 31, 2011, Cleco Power owned 72 active transmission substations and 223 active distribution substations. As of December 31, 2011, Cleco Power’s transmission system consisted of approximately 67 circuit miles of 500-kiloVolt lines; 510 circuit miles of 230- kiloVolt lines; 685 circuit miles of 138 V lines, and 21 circuit miles of 69- kiloVolt lines.
Cleco Power’s distribution system consisted of approximately 3,521 circuit miles of 34.5- kiloVolt lines and 8,199 circuit miles of other lines. As of December 31, 2011, Midstream, through one wholly owned subsidiary, owned one electric generating station, with a nameplate capacity of 775 megawatt and an electric net generating capacity of 755 megawatt.
2030 Donahue Ferry Road
PINEVILLE LA 71360-5226