Fair Value Accounting (Tables)

12 Months Ended

Dec. 31, 2014

Fair Value [Line Items]

Fair Value By Balance Sheet Grouping

The following tables summarize the carrying value and estimated market value of Cleco and Cleco Power’s financial instruments not measured at fair value in Cleco and Cleco Power’s Consolidated Balance Sheets:

Cleco
					AT DEC. 31,
			2014				2013
(THOUSANDS)	CARRYING VALUE		ESTIMATED FAIR VALUE		CARRYING VALUE		ESTIMATED FAIR VALUE
Financial instruments not marked-to-market
Cash equivalents	$	39,700	$	39,700	$	22,204	$	22,204
Restricted cash equivalents	$	24,001	$	24,001	$	14,019	$	14,019
Long-term debt, excluding debt issuance costs	$	1,368,354	$	1,601,816	$	1,331,230	$	1,420,048

Fair Value of Financial Assets and Liabilities Measured On A Recurring Basis

The following tables disclose for Cleco and Cleco Power the fair value of financial assets and liabilities measured or disclosed on a recurring basis and within the scope of the authoritative guidance for fair value measurements and disclosures:

Cleco
	CLECO CONSOLIDATED FAIR VALUE MEASUREMENTS AT REPORTING DATE USING:
(THOUSANDS)	AT DEC. 31, 2014		QUOTED  PRICES IN ACTIVE MARKETS FOR IDENTICAL ASSETS (LEVEL 1)		SIGNIFICANT OTHER OBSERVABLE INPUTS (LEVEL 2)		SIGNIFICANT UNOBSERVABLE INPUTS (LEVEL 3)		AT DEC. 31, 2013		QUOTED PRICES IN ACTIVE MARKETS FOR IDENTICAL ASSETS (LEVEL 1)		SIGNIFICANT OTHER OBSERVABLE INPUTS (LEVEL 2)		SIGNIFICANT UNOBSERVABLE INPUTS (LEVEL 3)
Asset Description
Institutional money market funds	$	63,701	$	—	$	63,701	$	—	$	36,100	$	—	$	36,100	$	—
Commercial paper	—		—		—		—		1,483		—		1,483		—
Municipal bonds	—		—		—		—		9,831		—		9,831		—
Corporate bonds	—		—		—		—		515		—		515		—
Federal agency mortgage-backed securities	—		—		—		—		1,000		—		1,000		—
FTRs	10,776		—		—		10,776		9,020		—		—		9,020
Total assets	$	74,477	$	—	$	63,701	$	10,776	$	57,949	$	—	$	48,929	$	9,020
Liability Description
Long-term debt	$	1,601,816	$	—	$	1,601,816	$	—	$	1,420,048	$	—	$	1,420,048	$	—
FTRs	827		—		—		827		382		—		—		382
Total liabilities	$	1,602,643	$	—	$	1,601,816	$	827	$	1,420,430	$	—	$	1,420,048	$	382

Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

The followingtables summarize the net changes in the fair value of FTR assets and liabilities classified as Level 3 in the fair value hierarchy: 

(THOUSANDS)
Beginning balance at Jan. 1, 2014	$	8,638
Unrealized losses*	(2,651		)
Purchases and settlements	3,962
Ending balance at Dec. 31, 2014	$	9,949
* Unrealized gains and losses are reported in Accumulated deferred fuel on the balance sheet.

Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block]

The following table quantifies the significant unobservable inputs used in developing the fair value of Level 3 positions as of December 31, 2014:

(THOUSANDS, EXCEPT DOLLAR PER MWh)	FAIR VALUE				VALUATION TECHNIQUE	SIGNIFICANT UNOBSERVABLE INPUTS	FORWARD PRICE RANGE
	Assets		Liabilities				Low			High
FTRs at December 31, 2014	$	10,776	$	827	Discounted cash flow	Estimated auction price	$	(4.12	)	$	7.76
FTRs at December 31, 2013	$	9,020	$	382	Discounted cash flow	Estimated auction price	$	(4.88	)	$	33.75

Cleco Power [Member]

Fair Value [Line Items]

Fair Value By Balance Sheet Grouping

Cleco Power
					AT DEC. 31,
			2014				2013
(THOUSANDS)	CARRYING VALUE		ESTIMATED FAIR VALUE		CARRYING VALUE		ESTIMATED FAIR VALUE
Financial instruments not marked-to-market
Cash equivalents	$	34,700	$	34,700	$	14,900	$	14,900
Restricted cash equivalents	$	23,980	$	23,980	$	13,998	$	13,998
Long-term debt, excluding debt issuance costs	$	1,311,354	$	1,544,816	$	1,326,230	$	1,415,048

Schedule of Available-for-sale Securities Reconciliation

The following table provides a reconciliation of Cleco Power’s available-for-sale debt securities from amortized cost to fair value at December 31, 2013:

	AT DEC. 31, 2013
(THOUSANDS)	AMORTIZED COST		TOTAL UNREALIZED GAINS (1)		TOTAL UNREALIZED LOSSES (1)			FAIR VALUE
Municipal bonds	$	9,838	$	8	$	(15	)	$	9,831
Corporate bonds	513		2		—			515
Federal agency mortgage-backed securities	1,000		—		—			1,000
Commercial paper	1,483		—		—			1,483
Total available-for-sale securities	$	12,834	$	10	$	(15	)	$	12,829

⁽¹⁾ Unrealized gains and losses are recorded to the restricted storm reserve.

Fair Value of Financial Assets and Liabilities Measured On A Recurring Basis

Cleco Power
	CLECO POWER FAIR VALUE MEASUREMENTS AT REPORTING DATE USING:
(THOUSANDS)	AT DEC. 31, 2014		QUOTED  PRICES IN ACTIVE MARKETS FOR IDENTICAL ASSETS (LEVEL 1)		SIGNIFICANT OTHER OBSERVABLE INPUTS (LEVEL 2)		SIGNIFICANT UNOBSERVABLE INPUTS (LEVEL 3)		AT DEC. 31, 2013		QUOTED  PRICES IN ACTIVE MARKETS FOR IDENTICAL ASSETS (LEVEL 1)		SIGNIFICANT OTHER OBSERVABLE INPUTS (LEVEL 2)		SIGNIFICANT UNOBSERVABLE INPUTS (LEVEL 3)
Asset Description
Institutional money market funds	$	58,680	$	—	$	58,680	$	—	$	28,775	$	—	$	28,775	$	—
Commercial paper	—		—		—		—		1,483		—		1,483		—
Municipal bonds	—		—		—		—		9,831		—		9,831		—
Corporate bonds	—		—		—		—		515		—		515		—
Federal agency mortgage-backed securities	—		—		—		—		1,000		—		1,000		—
FTRs	10,776		—		—		10,776		9,020		—		—		9,020
Total assets	$	69,456	$	—	$	58,680	$	10,776	$	50,624	$	—	$	41,604	$	9,020
Liability Description
Long-term debt	$	1,544,816	$	—	$	1,544,816	$	—	$	1,415,048	$	—	$	1,415,048	$	—
FTRs	827		—		—		827		382		—		—		382
Total liabilities	$	1,545,643	$	—	$	1,544,816	$	827	$	1,415,430	$	—	$	1,415,048	$	382

Derivatives Not Designated as Hedging Instrument [Member]

Fair Value [Line Items]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]

The following table presents the fair values of derivative instruments and their respective line items as recorded on Cleco and Cleco Power’s Consolidated Balance Sheets as of December 31, 2014 and 2013:

	DERIVATIVES NOT DESIGNATED AS HEDGING INSTRUMENTS
(THOUSANDS)	BALANCE SHEET LINE ITEM	AT DEC. 31, 2014		AT DEC. 31, 2013
Commodity contracts
FTRs:
Current	Energy risk management assets	$	10,776	$	9,020
Current	Energy risk management liabilities	827		382
Total		$	9,949	$	8,638

Effect of Derivatives On Consolidated Statements of Income

The following table presents the effect of derivatives not designated as hedging instruments on Cleco and Cleco Power’s Consolidated Statements of Income for the years December 31, 2014, 2013, and 2012:

					FOR THE YEAR ENDED DEC. 31,
		2014			2013			2012
(THOUSANDS)	DERIVATIVES LINE ITEM	AMOUNT OF GAIN/(LOSS) RECOGNIZED IN INCOME ON DERIVATIVES			AMOUNT OF GAIN/(LOSS) RECOGNIZED IN INCOME ON DERIVATIVES			AMOUNT OF LOSS RECOGNIZED IN INCOME ON DERIVATIVES
Commodity contracts
Fuel cost hedges(1)	Fuel used for electric generation	$	—		$	—		$	(8,277	)
FTRs(2)	Electric operations	74,454			243			—
FTRs(2)	Power purchased for utility customers	(46,386		)	(19		)	—
Total		$	28,068		$	224		$	(8,277	)

⁽¹⁾ At December 31, 2012, Cleco Power had no open fuel cost hedges and as a result, no unrealized losses or deferred losses were reported in Accumulated deferred fuel.

⁽²⁾ At December 31, 2014, $2.7 million unrealized losses associated with FTRs were reported in Accumulated deferred fuel on the balance sheet.

Derivatives Designated as Hedging Instrument [Member]

Fair Value [Line Items]

Effect of Derivatives On Consolidated Statements of Income

The following table presents the effect of derivatives designated as hedging instruments on Cleco and Cleco Power’s Consolidated Statements of Income for the years ended December 31, 2014, 2013, and 2012:

											FOR THE YEAR ENDED DEC. 31,
			2014					2013					2012
(THOUSANDS)	AMOUNT OF GAIN RECOGNIZED  IN OCI		AMOUNT OF NET LOSS RECLASSIFIED FROM AOCI INTO INCOME (EFFECTIVE PORTION)			AMOUNT OF GAIN RECOGNIZED  IN OCI		AMOUNT OF NET LOSS RECLASSIFIED FROM AOCI INTO INCOME (EFFECTIVE PORTION)			AMOUNT OF GAIN RECOGNIZED  IN OCI		AMOUNT OF NET LOSS RECLASSIFIED FROM AOCI INTO INCOME (EFFECTIVE PORTION)
Interest rate derivatives (1)	$	—	$	(344	)*	$	2,202	$	(251	)*	$	704	$	(60	)*

* The (loss) gain reclassified from accumulated other comprehensive income into income is reflected in interest charges.

⁽¹⁾ During the year ended December 31, 2014, Cleco had no ineffectiveness and losses related to the interest rate derivatives as a regulatory asset. During the year ended December 31, 2013, Cleco recorded ineffectiveness and losses related to the interest rate derivatives as a regulatory asset of $3.3 million.