Fair Value Accounting (Tables)

9 Months Ended

Sep. 30, 2015

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 on Cleco and Cleco Power’s Condensed Consolidated Balance Sheets:

Cleco
	AT SEPT. 30, 2015				AT DEC. 31, 2014
(THOUSANDS)	CARRYING VALUE		ESTIMATED FAIR VALUE		CARRYING VALUE		ESTIMATED FAIR VALUE
Financial instruments not marked-to-market:
Cash equivalents	$	8,200	$	8,200	$	39,700	$	39,700
Restricted cash equivalents	$	19,423	$	19,423	$	24,001	$	24,001
Long-term debt, excluding debt issuance costs	$	1,228,529	$	1,394,274	$	1,368,354	$	1,601,816

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 SEPT. 30, 2015		QUOTED  PRICES IN ACTIVE MARKETS FOR IDENTICAL ASSETS (LEVEL 1)		SIGNIFICANT OTHER OBSERVABLE INPUTS (LEVEL 2)		SIGNIFICANT UNOBSERVABLE INPUTS (LEVEL 3)		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)
Asset description
Institutional money market funds	$	27,623	$	—	$	27,623	$	—	$	63,701	$	—	$	63,701	$	—
FTRs	14,563		—		—		14,563		10,776		—		—		10,776
Total assets	$	42,186	$	—	$	27,623	$	14,563	$	74,477	$	—	$	63,701	$	10,776
Liability description
Long-term debt	$	1,394,274	$	—	$	1,394,274	$	—	$	1,601,816	$	—	$	1,601,816	$	—
FTRs	488		—		—		488		827		—		—		827
Total liabilities	$	1,394,762	$	—	$	1,394,274	$	488	$	1,602,643	$	—	$	1,601,816	$	827

Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation

The following table summarizes the net changes in the net fair value of FTR assets and liabilities classified as Level 3 in the fair value hierarchy:

	FOR THE THREE MONTHS ENDED SEPT. 30,						FOR THE NINE MONTHS ENDED SEPT. 30,
(THOUSANDS)	2015			2014			2015			2014
Beginning balance	$	21,974		$	42,972		$	9,949		$	8,638
Unrealized (losses) gains*	(719		)	(6,190		)	1,053			(9,610		)
Purchases	69			(1,299		)	20,219			51,144
Settlements	(7,249		)	(18,711		)	(17,146		)	(33,400		)
Ending balance	$	14,075		$	16,772		$	14,075		$	16,772
* Unrealized gains and losses are reported in Accumulated deferred fuel on the balance sheet.

Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques

The following table quantifies the significant unobservable inputs used in developing the fair value of Level 3 positions at September 30, 2015, and December 31, 2014:

	FAIR VALUE				VALUATION TECHNIQUE	SIGNIFICANT UNOBSERVABLE INPUTS	FORWARD PRICE RANGE
(THOUSANDS, EXCEPT FORWARD PRICE RANGE)	ASSETS		LIABILITIES				LOW			HIGH
FTRs at Sept. 30, 2015	$	14,563	$	488	RTO auction pricing	FTR price - per MWh	$	(3.65	)	$	4.40
FTRs at Dec. 31, 2014	$	10,776	$	827	RTO auction pricing	FTR price - per MWh	$	(4.12	)	$	7.76

Cleco Power [Member]

Fair Value [Line Items]

Fair Value By Balance Sheet Grouping

Cleco Power
	AT SEPT. 30, 2015				AT DEC. 31, 2014
(THOUSANDS)	CARRYING VALUE		ESTIMATED FAIR VALUE		CARRYING VALUE		ESTIMATED FAIR VALUE
Financial instruments not marked-to-market:
Cash equivalents	$	7,000	$	7,000	$	34,700	$	34,700
Restricted cash equivalents	$	19,402	$	19,402	$	23,980	$	23,980
Long-term debt, excluding debt issuance costs	$	1,190,529	$	1,356,274	$	1,311,354	$	1,544,816

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 SEPT. 30, 2015		QUOTED PRICES IN ACTIVE MARKETS FOR IDENTICAL ASSETS (LEVEL 1)		SIGNIFICANT OTHER OBSERVABLE INPUTS (LEVEL 2)		SIGNIFICANT UNOBSERVABLE INPUTS (LEVEL 3)		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)
Asset description
Institutional money market funds	$	26,402	$	—	$	26,402	$	—	$	58,680	$	—	$	58,680	$	—
FTRs	14,563		—		—		14,563		10,776		—		—		10,776
Total assets	$	40,965	$	—	$	26,402	$	14,563	$	69,456	$	—	$	58,680	$	10,776
Liability description
Long-term debt	$	1,356,274	$	—	$	1,356,274	$	—	$	1,544,816	$	—	$	1,544,816	$	—
FTRs	488		—		—		488		827		—		—		827
Total liabilities	$	1,356,762	$	—	$	1,356,274	$	488	$	1,545,643	$	—	$	1,544,816	$	827

Not Designated as Hedging Instrument [Member]

Fair Value [Line Items]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The following table presents the fair values of derivative instruments and their respective line items as recorded on Cleco and Cleco Power’s Condensed Consolidated Balance Sheets at September 30, 2015, and December 31, 2014:

	DERIVATIVES NOT DESIGNATED AS HEDGING INSTRUMENTS
(THOUSANDS)	BALANCE SHEET LINE ITEM	AT SEPT. 30, 2015		AT DEC. 31, 2014
Commodity-related contracts
FTRs:
Current	Energy risk management assets	$	14,563	$	10,776
Current	Energy risk management liabilities	488		827
Commodity-related contracts, net		$	14,075	$	9,949

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 Condensed Consolidated Statements of Income for the three and nine months ended September 30, 2015, and 2014:

		FOR THE THREE MONTHS ENDED SEPT. 30,						FOR THE NINE MONTHS ENDED SEPT. 30,
		2015			2014			2015			2014
(THOUSANDS)	DERIVATIVES LINE ITEM	AMOUNT OF GAIN/(LOSS) RECOGNIZED IN INCOME ON DERIVATIVES
Commodity contracts
FTRs	Electric operations	$	8,988		$	27,618		$	42,594		$	52,946
FTRs	Power purchased for utility customers	(5,687		)	(20,122		)	(22,337		)	(30,871		)
Total		$	3,301		$	7,496		$	20,257		$	22,075