8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549
 

FORM 8‑K
 

CURRENT REPORT
 

Pursuant to Section 13 or 15(d) of

the Securities Exchange Act of 1934
 

Date of Report (Date of earliest event reported): September 21, 2005
 

CLECO CORPORATION

(Exact name of registrant as specified in its charter)
 

Louisiana	1-15759	72-1445282
(State or other jurisdiction	(Commission File Number)	(IRS Employer
of incorporation)		Identification No.)

2030 Donahue Ferry Road
Pineville, Louisiana	71360-5226
(Address of principal executive offices)	(Zip Code)

Registrant's telephone number, including area code: (318) 484-7400
 

CLECO POWER LLC

(Exact name of registrant as specified in its charter)
 

Louisiana	1-05663	72-0244480
(State or other jurisdiction	(Commission File Number)	(IRS Employer
of incorporation)		Identification No.)

2030 Donahue Ferry Road
Pineville, Louisiana	71360-5226
(Address of principal executive offices)	(Zip Code)
Registrant's telephone number, including area code: (318) 484-7400

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 

      o   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

      o   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

      o   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

      o   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

This combined Form 8-K is separately filed by Cleco Corporation and Cleco Power.  Information in this filing relating to Cleco Power is filed by Cleco Corporation and separately by Cleco Power on its own behalf.  Cleco Power makes no representation as to information relating to Cleco Corporation (except as it may relate to Cleco Power) or any other affiliate or subsidiary of Cleco Corporation.

Item 8.01        Other Events.

On September 21, 2005, Cleco Corporation announced its preliminary estimates of storm restoration costs associated with Hurricane Katrina. Total restoration costs for the repair and/or replacement of Cleco Power's electric system facilities damaged by Hurricane Katrina are currently estimated to be in the range of $100 million to $125 million. These cost estimates do not include other potential incremental costs that cannot be estimated at this time and as a result these initial restoration estimates are subject to change.

As of September 21, 2005, Cleco Power has restored power to 92% of its customers in St. Tammany and Washington parishes.  Approximately 75,000 customers now have electricity three weeks after Hurricane Katrina knocked out power to all 80,800 customers in Cleco Power's service area north of New Orleans, out of approximately 265,000 total customers.  For more information about Cleco Power's recovery efforts, see the press release issued September 21, 2005, a copy of which is furnished as Exhibit 99.1 to this Report.

Cleco Power believes it has sufficient liquidity to meet its current obligations and to fund restoration efforts from a combination of cash on hand and available capacity under its revolving credit facilities.

Item 9.01        Financial Statements and Exhibits.

            (c)     Exhibits     

                        The following exhibit is furnished herewith:

99.1     Press release issued September 21, 2005 regarding restoration of power and estimated Hurricane Katrina restoration costs.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	CLECO CORPORATION
Date:    September 22, 2005	By:  /s/ Keith D. Crump
	Keith D. Crump
	Treasurer

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	CLECO POWER LLC
Date:    September 22, 2005	By:  /s/ Keith D. Crump
	Keith D. Crump
	Treasurer

EXHIBIT INDEX

Exhibit Number	Exhibit Description
99.1	Press Release issued September 21, 2005 regarding restoration of power and estimated Hurricane Katrina restoration costs.

EX-99.1

EXHIBIT 99.1

			Cleco Corporation
			2030 Donahue Ferry Road
			PO Box 5000
			Pineville, LA 71361-5000
			Tel 318 484-7400
			NEWS RELEASE
Investor Contacts:
Cleco Corporation:	Analyst Inquiries:	Media Contact:
Keith Crump	Dresner Companies	Cleco Corporation
(318) 484-7719	Kristine Walczak	Susan Broussard
Rodney J. Hamilton	(312) 780-7205	(318) 484-7400
(318) 484-7593

 For Immediate Release

Power restored to 92% of Cleco customers affected by Hurricane Katrina

Cleco estimates restoration costs to total between $100-$125 million

 PINEVILLE, La., Sept. 21, 2005 - Cleco Corp. (NYSE: CNL) has restored power to 92% of its customers in St. Tammany and Washington parishes.  Three weeks after Hurricane Katrina knocked out power to all 80,800 Cleco customers in its service area north of New Orleans, approximately 75,000 now have electricity. 

All Cleco customers whose homes and businesses can accept power should be back on line by the end of this week.

"We appreciate our customers' patience during this major restoration process," said Michael Madison, president and CEO of Cleco Corp. "The damage and flooding from Katrina were worse than we've ever seen before, but we've kept working as safely and efficiently as we can. And, despite the damage to their homes and communities, our customers have been consistently patient and supportive of all of our crews.  Their fortitude and optimism throughout this ordeal has been truly inspiring."

Cleco has had approximately 2,800 utility crewmen and tree trimmers working full time in the area to restore power.  Workers, which included employees, contractors and crews from other utilities, restored power more quickly than initial estimates.

The company expects to restore power to all customers who can accept it by the end of this week.  Hundreds of customers, however, have too much damage to their homes or businesses to take power.

 "We'll be restoring power to those customers as they repair their homes in the weeks to come," Madison said. "We also will have crews in the area for the next few weeks continuing to clean up and make final repairs to the utility system. In some cases crews have made temporary repairs to lines in order to bring back power as quickly as possible, and we now need to replace those temporary structures with permanent equipment.

"Since we still have weeks worth of work left to fully restore our system to the condition it was in prior to the storm, it's difficult to accurately forecast total restoration costs," Madison said. "Our best estimate right now is that Hurricane Katrina will cost Cleco between $100 and $125 million. Cleco's liquidity is more than adequate to fund the restoration costs.

more

Cleco Corporation

Page 2

"Generally we've found that 60-70% of storm restoration costs are capitalized," said Madison. "The regulatory treatment of the costs has not yet been determined, but for past storm costs the Louisiana Public Service Commission has allowed Cleco to amortize storm recovery operating expenses over multiple years in order to minimize impact to the company."

Cleco Corp. is an energy services company headquartered in Pineville, La. It operates a regulated electric utility that serves approximately 265,000 customers across Louisiana. Cleco also operates a wholesale energy business that has more than 1,300 megawatts of generating capacity. For more information about Cleco, visit www.cleco.com.

 Please note: In addition to historical information, this news release contains forward-looking statements about future results and circumstances with respect to which there are many risks and uncertainties, including approval of the treatment of restoration costs by the Louisiana Public Service Commission, state and federal legislative and regulatory initiatives, and the other risks and uncertainties more fully described in the Company's latest Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Actual results may differ materially from those indicated in such forward-looking statements.

###