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): October 7, 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 24, 2005, Hurricane Rita made landfall as a Category 3 storm and hit all of Cleco Power's service territory, including the area north of Lake Pontchartrain, which was devastated by Hurricane Katrina 27 days earlier.  Cleco Power had approximately 136,000 customers (out of approximately 265,000 customers) without power immediately following the hurricane.  As of October 7, 2005, Cleco Power is still working to restore power to a small number of customers in the more remote areas of the company's rural service territory.

On October 7, 2005, Cleco Corporation announced its preliminary estimates of storm restoration costs associated with Hurricane Rita. Total restoration costs of Cleco Power's electric system facilities damaged by Hurricane Rita are currently estimated to be approximately $50 million. Cleco Power has requested and received regulatory approval from the Louisiana Public Service Commission to create a regulatory asset that represents non-capitalized storm damage costs incurred as a result of Hurricanes Katrina and Rita.  This regulatory asset will be amortized over a ten-year period beginning in October 2005.  For more information about Cleco Power's recovery efforts, see the press release issued October 7, 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 October 7, 2005 regarding restoration of power and estimated Hurricane Rita 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:    October 7, 2005	By:  /s/ Kathleen F. Nolen
	Kathleen F. Nolen
	Senior Vice President and Chief        Financial Officer

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:    October 7, 2005	By:  /s/ Kathleen F. Nolen
	Kathleen F. Nolen
	Senior Vice President and Chief        Financial Officer

EXHIBIT INDEX

Exhibit Number	Exhibit Description
99.1	Press Release issued October 7, 2005 regarding restoration of power and estimated Hurricane Rita restoration costs.

EX-99.1

 EXHIBIT 99.1

		NEWS RELEASE
Investor Contacts:
Cleco Corporation:	Analyst Inquiries:		Media Contact:
Keith Crump	Dresner Corporate Services		Cleco Corporation
(318) 484-7719	Philip Kranz		Susan Broussard
Rodney J. Hamilton	(312) 780-7240		(318) 484-7773
(318) 484-7593

For Immediate Release

Cleco restores power to more than 136,000 customers after Rita

Costs estimated at approximately $50 million

PINEVILLE, LA, Oct. 7, 2005 - Approximately 2,400 workers, including Cleco Corp. (NYSE:CNL) employees and personnel from other utilities and contractors, returned power to 136,000 Cleco customers who were affected when Hurricane Rita made landfall Saturday, Sept. 24.

Rita, a Category 3 storm, hit all of Cleco's service territory, including the area north of Lake Ponchartrain, which was devastated by Hurricane Katrina just 27 days earlier.

"Just as we were wrapping up the longest storm restoration in our history, Rita came through hitting our entire service territory," said Michael Madison, president and CEO of Cleco Corp. "Katrina was a more severe storm even though it affected customers in only two of our parishes, St. Tammany and Washington.  However, Rita was much more widespread, requiring a 12-day restoration effort."

The storm knocked out power to approximately half of Cleco's customers. The hardest hit areas were in Beauregard, Vernon and Allen parishes. Crews are still working to restore power to a small number of customers in the more remote areas of the company's rural service territory. This effort could take days depending upon accessibility and the extent of the damage.

"As we work to restore power to the last customers, we are estimating that Hurricane Rita will cost the company approximately $50 million," said Madison. "Cleco's liquidity is adequate to fund the restoration costs of both Katrina and Rita.

"We have received regulatory authorization to amortize storm recovery operating expenses for both storms over 10 years in order to minimize the impact to the company," said Madison. "We are currently discussing cost recovery options."

Madison added, "Rita's devastation to our communities was great; however, they pulled together and helped each other and our workers. Our customers will never know how their patience and acts of kindness encouraged the teams working to restore power.

More

"Our employees continue to make me proud. I am in awe of their commitment to our customers and their professionalism. They have been working for more than a month straight," Madison said. "And just as our employees have stayed the course, so have our contract and mutual assistance teams. Some of these workers have been on the road for several months, working storms in Florida before coming to help us. We will never forget how they helped us during our time of need."

Cleco Corp. is an energy services company headquartered in Pineville, La. It operates a regulated electric utility company that serves about 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.

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