Fair Value Accounting (Tables)

9 Months Ended

Sep. 30, 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
	SUCCESSOR				PREDECESSOR
	AT SEPT. 30, 2016				AT DEC. 31, 2015
(THOUSANDS)	CARRYING VALUE*		ESTIMATED FAIR VALUE		CARRYING VALUE*		ESTIMATED FAIR VALUE
Long-term debt	$	2,772,068	$	2,859,558	$	1,299,529	$	1,463,989
* The carrying value of long-term debt does not include deferred issuance costs.

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:
	SUCCESSOR								PREDECESSOR
(THOUSANDS)	AT SEPT. 30, 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	$	132,682	$	—	$	132,682	$	—	$	89,584	$	—	$	89,584	$	—
FTRs	9,994		—		—		9,994		7,673		—		—		7,673
Total assets	$	142,676	$	—	$	132,682	$	9,994	$	97,257	$	—	$	89,584	$	7,673
Liability description
Long-term debt	$	2,859,558	$	—	$	2,859,558	$	—	$	1,463,989	$	—	$	1,463,989	$	—
FTRs	418		—		—		418		275		—		—		275
Total liabilities	$	2,859,976	$	—	$	2,859,558	$	418	$	1,464,264	$	—	$	1,463,989	$	275

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

The following tables summarize the net changes in the net fair value of FTR assets and liabilities classified as Level 3 in the fair value hierarchy for Cleco and Cleco Power:

Cleco
	SUCCESSOR			PREDECESSOR			SUCCESSOR			PREDECESSOR
(THOUSANDS)	FOR THE THREE MONTHS ENDED SEPT. 30, 2016			FOR THE THREE MONTHS ENDED SEPT. 30, 2015			APR. 13, 2016 - SEPT. 30, 2016			JAN. 1, 2016 - APR. 12, 2016			FOR THE NINE MONTHS ENDED SEPT. 30, 2015
Beginning balance	$	13,618		$	21,974		$	3,458		$	7,398		$	9,949
Unrealized gains (losses)*	1,840			(719		)	2,529			(1,031		)	1,053
Purchases	164			69			12,772			2,070			20,219
Settlements	(6,046		)	(7,249		)	(9,183		)	(4,979		)	(17,146		)
Ending balance	$	9,576		$	14,075		$	9,576		$	3,458		$	14,075
* Unrealized gains and losses are reported through Accumulated deferred fuel on the balance sheet.

Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques

The following tables quantify the significant unobservable inputs used in developing the fair value of Level 3 positions as of September 30, 2016, and December 31, 2015 for Cleco and Cleco Power:

Cleco
	FAIR VALUE				VALUATION TECHNIQUE	SIGNIFICANT UNOBSERVABLE INPUTS	FORWARD PRICE RANGE
(THOUSANDS, EXCEPT FORWARD PRICE RANGE)	ASSETS		LIABILITIES				LOW			HIGH
SUCCESSOR
FTRs at Sept. 30, 2016	$	9,994	$	418	RTO auction pricing	FTR price - per MWh	$	(2.34	)	$	5.03
PREDECESSOR
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 SEPT. 30, 2016				AT DEC. 31, 2015
(THOUSANDS)	CARRYING VALUE*		ESTIMATED FAIR VALUE		CARRYING VALUE*		ESTIMATED FAIR VALUE
Long-term debt	$	1,242,137	$	1,461,566	$	1,265,529	$	1,429,989
* The carrying value of long-term debt does not include deferred issuance costs.

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, 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	$	106,861	$	—	$	106,861	$	—	$	87,363	$	—	$	87,363	$	—
FTRs	9,994		—		—		9,994		7,673		—		—		7,673
Total assets	$	116,855	$	—	$	106,861	$	9,994	$	95,036	$	—	$	87,363	$	7,673
Liability description
Long-term debt	$	1,461,566	$	—	$	1,461,566	$	—	$	1,429,989	$	—	$	1,429,989	$	—
FTRs	418		—		—		418		275		—		—		275
Total liabilities	$	1,461,984	$	—	$	1,461,566	$	418	$	1,430,264	$	—	$	1,429,989	$	275

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

Cleco Power
	FOR THE THREE MONTHS ENDED SEPT. 30,						FOR THE NINE MONTHS ENDED SEPT. 30,
(THOUSANDS)	2016			2015			2016			2015
Beginning balance	$	13,618		$	21,974		$	7,398		$	9,949
Unrealized gains (losses)*	1,840			(719		)	1,498			1,053
Purchases	164			69			14,842			20,219
Settlements	(6,046		)	(7,249		)	(14,162		)	(17,146		)
Ending balance	$	9,576		$	14,075		$	9,576		$	14,075
* Unrealized gains and losses are reported through Accumulated deferred fuel on the balance sheet.

Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques

Cleco Power
	FAIR VALUE				VALUATION TECHNIQUE	SIGNIFICANT UNOBSERVABLE INPUTS	FORWARD PRICE RANGE
(THOUSANDS, EXCEPT FORWARD PRICE RANGE)	ASSETS		LIABILITIES				LOW			HIGH
FTRs at Sept. 30, 2016	$	9,994	$	418	RTO auction pricing	FTR price - per MWh	$	(2.34	)	$	5.03
FTRs at Dec. 31, 2015	$	7,673	$	275	RTO auction pricing	FTR price - per MWh	$	(3.63	)	$	4.51

Not Designated as Hedging Instrument [Member]

Fair Value [Line Items]

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

The following tables present 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, 2016, and December 31, 2015:

Cleco
	DERIVATIVES NOT DESIGNATED AS HEDGING INSTRUMENTS
		SUCCESSOR		PREDECESSOR
(THOUSANDS)	BALANCE SHEET LINE ITEM	AT SEPT. 30, 2016		AT DEC. 31, 2015
Commodity-related contracts
FTRs
Current	Energy risk management assets	$	9,994	$	7,673
Current	Energy risk management liabilities	418		275
Commodity-related contracts, net		$	9,576	$	7,398

Effect of Derivatives On Consolidated Statements of Income

The following tables present 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, 2016, and 2015:

Cleco
		AMOUNT OF GAIN/(LOSS) RECOGNIZED IN INCOME ON DERIVATIVES
		SUCCESSOR			PREDECESSOR			SUCCESSOR			PREDECESSOR
(THOUSANDS)	DERIVATIVES LINE ITEM	FOR THE THREE MONTHS ENDED SEPT. 30, 2016			FOR THE THREE MONTHS ENDED SEPT. 30, 2015			APR. 13, 2016 - SEPT. 30, 2016			JAN. 1, 2016 - APR. 12, 2016			FOR THE NINE MONTHS ENDED SEPT. 30, 2015
Commodity contracts
FTRs(1)	Electric operations	$	9,718		$	8,988		$	23,467		$	8,563		$	42,594
FTRs(1)	Power purchased for utility customers	(5,066		)	(5,687		)	(11,742		)	(5,761		)	(22,337		)
Total		$	4,652		$	3,301		$	11,725		$	2,802		$	20,257

⁽¹⁾For the periods July 1, 2016 - September 30, 2016, January 1, 2016 - April 12, 2016, and April 13, 2016 - September 30, 2016, unrealized gains (losses) associated with FTRs of $1.8 million, $(1.0) million, and $2.5 million, respectively, were reported through Accumulated deferred fuel on the balance sheet. For the three and nine months ended September 30, 2015, unrealized (losses) gains associated with FTRs of $(0.7) million and $1.1 million, respectively, were reported through Accumulated deferred fuel on the balance sheet.

Not Designated as Hedging Instrument [Member] | Cleco Power [Member]

Fair Value [Line Items]

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

Cleco Power
	DERIVATIVES NOT DESIGNATED AS HEDGING INSTRUMENTS
(THOUSANDS)	BALANCE SHEET LINE ITEM	AT SEPT. 30, 2016		AT DEC. 31, 2015
Commodity-related contracts
FTRs
Current	Energy risk management assets	$	9,994	$	7,673
Current	Energy risk management liabilities	418		275
Commodity-related contracts, net		$	9,576	$	7,398

Effect of Derivatives On Consolidated Statements of Income

Cleco Power
		AMOUNT OF GAIN/(LOSS) RECOGNIZED IN INCOME ON DERIVATIVES
		FOR THE THREE MONTHS ENDED SEPT. 30,						FOR THE NINE MONTHS ENDED SEPT. 30,
(THOUSANDS)	DERIVATIVES LINE ITEM	2016			2015			2016			2015
Commodity contracts
FTRs(1)	Electric operations	$	9,718		$	8,988		$	32,030		$	42,594
FTRs(1)	Power purchased for utility customers	(5,066		)	(5,687		)	(17,503		)	(22,337		)
Total		$	4,652		$	3,301		$	14,527		$	20,257

⁽¹⁾For the three and nine months ended September 30, 2016, unrealized gains associated with FTRs of $1.8 million and $1.5 million, respectively, were reported through Accumulated deferred fuel on the balance sheet. For the three and nine months ended September 30, 2015, unrealized (losses) gains associated with FTRs of $(0.7) million and $1.1 million, respectively, were reported through Accumulated deferred fuel on the balance sheet