EXHIBIT 12(a)

CLECO CORPORATION

COMPUTATION OF EARNINGS TO FIXED CHARGES

AND EARNINGS TO COMBINED FIXED CHARGES

AND PREFERRED STOCK DIVIDENDS

(UNAUDITED)

		For the			For the
		three			twelve
		months ended			months ended
			March 31, 2004
			(Thousands, except ratios)
Earnings (loss) from operations		$	13,378		$	(39,364)
Income taxes (benefit)			5,653			(26,560)
Earnings (loss) from operations before income taxes		$	19,031		$	(65,924)
Fixed charges:
	Interest, long-term debt	$	15,107		$	61,592
	Interest, other (including interest on short-term debt)		1,921			7,173
	Amortization of debt expense, premium, net		905			3,702
	Portion of rentals representative of an interest factor		172			582
Total fixed charges		$	18,105		$	73,049
Earnings (loss) from operations before income taxes			19,031			(65,924)
	Total fixed charges		18,105			73,049
	Amortization of capitalized interest		182			725
Earnings from operations before income taxes
	and fixed charges	$	37,318		$	7,850
Ratio of earnings to fixed charges			2.06	x		0.11	x *
Total fixed charges from above		$	18,105		$	73,049
Preferred stock dividends			565			2,121
Total fixed charges and preferred stock dividends		$	18,670		$	75,170
Ratio of earnings to combined fixed charges
	and preferred stock dividends		2.00	x		0.10	x **
*	For the twelve months ended March 31, 2004, earnings were insufficient by $65.2 million to cover fixed charges.
**	For the twelve months ended March 31, 2004, earnings were insufficient by $67.3 million to cover fixed charge and preferred stock dividends.