Fair Value Accounting (Tables)

3 Months Ended

Mar. 31, 2016

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 MAR. 31, 2016				AT DEC. 31, 2015
(THOUSANDS)	CARRYING VALUE		ESTIMATED FAIR VALUE		CARRYING VALUE		ESTIMATED FAIR VALUE
Cash equivalents	$	107,700	$	107,700	$	64,200	$	64,200
Restricted cash equivalents	$	21,200	$	21,200	$	25,384	$	25,384
Long-term debt	$	1,283,984	$	1,466,817	$	1,299,529	$	1,463,989

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:

Cleco
	CLECO CONSOLIDATED FAIR VALUE MEASUREMENTS AT REPORTING DATE USING:
(THOUSANDS)	AT MAR. 31, 2016		QUOTED  PRICES IN ACTIVE MARKETS FOR IDENTICAL ASSETS (LEVEL 1)		SIGNIFICANT OTHER OBSERVABLE INPUTS (LEVEL 2)		SIGNIFICANT UNOBSERVABLE INPUTS (LEVEL 3)		AT DEC. 31, 2015		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	$	128,900	$	—	$	128,900	$	—	$	89,584	$	—	$	89,584	$	—
FTRs	2,252		—		—		2,252		7,673		—		—		7,673
Total assets	$	131,152	$	—	$	128,900	$	2,252	$	97,257	$	—	$	89,584	$	7,673
Liability description
Long-term debt	$	1,466,817	$	—	$	1,466,817	$	—	$	1,463,989	$	—	$	1,463,989	$	—
FTRs	386		—		—		386		275		—		—		275
Total liabilities	$	1,467,203	$	—	$	1,466,817	$	386	$	1,464,264	$	—	$	1,463,989	$	275

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 MAR. 31,
(THOUSANDS)	2016			2015
Beginning balance	$	7,398		$	9,949
Unrealized losses*	(832		)	(1,710		)
Purchases	46			63
Settlements	(4,746		)	(6,489		)
Ending balance	$	1,866		$	1,813
* 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 as of March 31, 2016, and December 31, 2015:

	FAIR VALUE				VALUATION TECHNIQUE	SIGNIFICANT UNOBSERVABLE INPUTS	FORWARD PRICE RANGE
(THOUSANDS, EXCEPT FORWARD PRICE RANGE)	ASSETS		LIABILITIES				LOW			HIGH
FTRs at Mar. 31, 2016	$	2,252	$	386	RTO auction pricing	FTR price - per MWh	$	(2.78	)	$	3.36
FTRs at Dec. 31, 2015	$	7,673	$	275	RTO auction pricing	FTR price - per MWh	$	(3.63	)	$	4.51

Cleco Power [Member]

Fair Value [Line Items]

Fair Value By Balance Sheet Grouping

Cleco Power
	AT MAR. 31, 2016				AT DEC. 31, 2015
(THOUSANDS)	CARRYING VALUE		ESTIMATED FAIR VALUE		CARRYING VALUE		ESTIMATED FAIR VALUE
Cash equivalents	$	106,700	$	106,700	$	62,000	$	62,000
Restricted cash equivalents	$	21,179	$	21,179	$	25,363	$	25,363
Long-term debt	$	1,256,984	$	1,439,817	$	1,265,529	$	1,429,989

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 MAR. 31, 2016		QUOTED PRICES IN ACTIVE MARKETS FOR IDENTICAL ASSETS (LEVEL 1)		SIGNIFICANT OTHER OBSERVABLE INPUTS (LEVEL 2)		SIGNIFICANT UNOBSERVABLE INPUTS (LEVEL 3)		AT DEC. 31, 2015		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	$	127,879	$	—	$	127,879	$	—	$	87,363	$	—	$	87,363	$	—
FTRs	2,252		—		—		2,252		7,673		—		—		7,673
Total assets	$	130,131	$	—	$	127,879	$	2,252	$	95,036	$	—	$	87,363	$	7,673
Liability description
Long-term debt	$	1,439,817	$	—	$	1,439,817	$	—	$	1,429,989	$	—	$	1,429,989	$	—
FTRs	386		—		—		386		275		—		—		275
Total liabilities	$	1,440,203	$	—	$	1,439,817	$	386	$	1,430,264	$	—	$	1,429,989	$	275

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 March 31, 2016, and December 31, 2015:

	DERIVATIVES NOT DESIGNATED AS HEDGING INSTRUMENTS
(THOUSANDS)	BALANCE SHEET LINE ITEM	AT MAR. 31, 2016		AT DEC. 31, 2015
Commodity-related contracts
FTRs:
Current	Energy risk management assets	$	2,252	$	7,673
Current	Energy risk management liabilities	386		275
Commodity-related contracts, net		$	1,866	$	7,398

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 months ended March 31, 2016, and 2015:

		FOR THE THREE MONTHS ENDED MAR. 31,
		2016			2015
(THOUSANDS)	DERIVATIVES LINE ITEM	AMOUNT OF GAIN/(LOSS) RECOGNIZED IN INCOME ON DERIVATIVES
Commodity contracts
FTRs(1)	Electric operations	$	8,520		$	15,508
FTRs(1)	Power purchased  for utility customers	(5,723		)	(8,037		)
Total		$	2,797		$	7,471

⁽¹⁾ At March 31, 2016, and 2015, unrealized losses associated with FTRs of $0.8 million and $1.7 million, respectively, were reported in Accumulated deferred fuel on the balance sheet.