Regulatory Assets and Liabilities (Tables)

9 Months Ended

Sep. 30, 2021

Regulatory Assets [Line Items]

Schedule of Regulatory Assets

The following table summarizes Cleco’s net regulatory assets and liabilities:

Cleco
(THOUSANDS)	AT SEPT. 30, 2021		AT DEC. 31, 2020
Total Cleco Power regulatory assets, net	$	576,062	$	275,469
2016 Merger adjustments *
Fair value of long-term debt	114,001		119,553
Postretirement costs	13,921		15,411
Financing costs	7,334		7,592
Debt issuance costs	5,004		5,254
Total Cleco regulatory assets, net	$	716,322	$	423,279

* Cleco regulatory assets include acquisition accounting adjustments as a result of the 2016 Merger.

CLECO POWER

Regulatory Assets [Line Items]

Schedule of Regulatory Assets

The following table summarizes Cleco Power’s regulatory assets and liabilities:

Cleco Power
					REMAINING RECOVERY PERIOD (YRS.)
(THOUSANDS)	AT SEPT. 30, 2021		AT DEC. 31, 2020
Regulatory assets
Acadia Unit 1 acquisition costs	$	1,939	$	2,019	18.5
Accumulated deferred fuel (1)	78,847		28,194		Various	(2)
AFUDC equity gross-up	67,348		69,670		Various	(3)
Affordability study	13,438		—		10
AMI deferred revenue requirement	2,181		2,591		4
AROs (1)(7)	8,060		5,488
Bayou Vista to Segura deferred revenue requirement (7)	287		—
Coughlin transaction costs	853		876		28
COVID-19 executive order (7)	2,953		2,953
Deferred storm restoration costs - Hurricane Delta (7)	17,866		17,051
Deferred storm restoration costs - Hurricane Ida (7)	36,836		—
Deferred storm restoration costs - Hurricane Laura (7)	56,815		54,406
Deferred storm restoration costs - Hurricane Zeta (7)	3,496		3,493
Deferred storm restoration costs - Winter Storms Uri & Viola (7)	1,974		—
Dolet Hills Power Station closure costs (7)	112,158		48,982
Emergency declarations	—		270		—
Energy efficiency	1,998		2,820		1.5
Financing costs (1)	6,919		7,184		Various	(4)
Interest costs	3,521		3,708		Various	(3)
Lignite Mine closure costs (7)	93,093		—
Madison Unit 3 property taxes (7)	6,272		—
Non-service cost of postretirement benefits	11,662		9,901		Various	(3)
Other	13,247		4,229		Various	(2)
Postretirement costs	149,883		165,437		Various	(5)
Production operations and maintenance expenses	1,998		4,058		Various	(6)
Rodemacher Unit 2 deferred costs (7)	5,519		1,333
St. Mary Clean Energy Center	6,524		3,479		4
Training costs	5,968		6,085		38.5
Tree trimming costs	9,771		11,807		3.5
Total regulatory assets	721,426		456,034
Regulatory liabilities
AFUDC (7)	(6,500)		(4,218)
Corporate franchise tax, net	—		(763)		—
Deferred taxes, net	(138,864)		(175,584)		Various
Total regulatory liabilities	(145,364)		(180,565)
Total regulatory assets, net	$	576,062	$	275,469
(1) Represents regulatory assets for past expenditures that were not earning a return on investment at September 30, 2021, and December 31, 2020, respectively. All other assets are earning a return on investment. (2) For more information related to the remaining recovery period, refer to the following disclosures for each specific regulatory asset or liability. (3) Amortized over the estimated lives of the respective assets. (4) Amortized over the terms of the related debt issuances. (5) Amortized over the average service life of the remaining plan participants. (6) Deferral is recovered over the following three year regulatory period. (7) Currently not in a recovery period.

Schedule of Regulatory Liabilities

The following table summarizes Cleco Power’s regulatory assets and liabilities:

Cleco Power
					REMAINING RECOVERY PERIOD (YRS.)
(THOUSANDS)	AT SEPT. 30, 2021		AT DEC. 31, 2020
Regulatory assets
Acadia Unit 1 acquisition costs	$	1,939	$	2,019	18.5
Accumulated deferred fuel (1)	78,847		28,194		Various	(2)
AFUDC equity gross-up	67,348		69,670		Various	(3)
Affordability study	13,438		—		10
AMI deferred revenue requirement	2,181		2,591		4
AROs (1)(7)	8,060		5,488
Bayou Vista to Segura deferred revenue requirement (7)	287		—
Coughlin transaction costs	853		876		28
COVID-19 executive order (7)	2,953		2,953
Deferred storm restoration costs - Hurricane Delta (7)	17,866		17,051
Deferred storm restoration costs - Hurricane Ida (7)	36,836		—
Deferred storm restoration costs - Hurricane Laura (7)	56,815		54,406
Deferred storm restoration costs - Hurricane Zeta (7)	3,496		3,493
Deferred storm restoration costs - Winter Storms Uri & Viola (7)	1,974		—
Dolet Hills Power Station closure costs (7)	112,158		48,982
Emergency declarations	—		270		—
Energy efficiency	1,998		2,820		1.5
Financing costs (1)	6,919		7,184		Various	(4)
Interest costs	3,521		3,708		Various	(3)
Lignite Mine closure costs (7)	93,093		—
Madison Unit 3 property taxes (7)	6,272		—
Non-service cost of postretirement benefits	11,662		9,901		Various	(3)
Other	13,247		4,229		Various	(2)
Postretirement costs	149,883		165,437		Various	(5)
Production operations and maintenance expenses	1,998		4,058		Various	(6)
Rodemacher Unit 2 deferred costs (7)	5,519		1,333
St. Mary Clean Energy Center	6,524		3,479		4
Training costs	5,968		6,085		38.5
Tree trimming costs	9,771		11,807		3.5
Total regulatory assets	721,426		456,034
Regulatory liabilities
AFUDC (7)	(6,500)		(4,218)
Corporate franchise tax, net	—		(763)		—
Deferred taxes, net	(138,864)		(175,584)		Various
Total regulatory liabilities	(145,364)		(180,565)
Total regulatory assets, net	$	576,062	$	275,469
(1) Represents regulatory assets for past expenditures that were not earning a return on investment at September 30, 2021, and December 31, 2020, respectively. All other assets are earning a return on investment. (2) For more information related to the remaining recovery period, refer to the following disclosures for each specific regulatory asset or liability. (3) Amortized over the estimated lives of the respective assets. (4) Amortized over the terms of the related debt issuances. (5) Amortized over the average service life of the remaining plan participants. (6) Deferral is recovered over the following three year regulatory period. (7) Currently not in a recovery period.