Regulatory Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2021

Regulatory Assets and Liabilities [Line Items]

Schedule of Regulatory Assets

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

Cleco
	AT DEC. 31,
(THOUSANDS)	2021		2020
Total Cleco Power regulatory assets, net	$	663,621	$	275,469
2016 Merger adjustments (1)
Fair value of long-term debt	112,150		119,553
Postretirement costs	13,424		15,411
Financing costs	7,248		7,592
Debt issuance costs	4,920		5,254
Total Cleco regulatory assets, net	$	801,363	$	423,279

(1) Cleco regulatory assets include acquisition accounting adjustments as a result of the 2016 Merger.

Schedule of Regulatory Liabilities

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

Cleco
	AT DEC. 31,
(THOUSANDS)	2021		2020
Total Cleco Power regulatory assets, net	$	663,621	$	275,469
2016 Merger adjustments (1)
Fair value of long-term debt	112,150		119,553
Postretirement costs	13,424		15,411
Financing costs	7,248		7,592
Debt issuance costs	4,920		5,254
Total Cleco regulatory assets, net	$	801,363	$	423,279

(1) Cleco regulatory assets include acquisition accounting adjustments as a result of the 2016 Merger.

CLECO POWER

Regulatory Assets and Liabilities [Line Items]

Schedule of Regulatory Assets

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

Cleco Power
	AT DEC. 31,				REMAINING RECOVERY PERIOD (YRS.)
(THOUSANDS)	2021		2020
Regulatory assets
Acadia Unit 1 acquisition costs	$	1,913	$	2,019	18
Accumulated deferred fuel (1)	56,826		28,194		Various	(2)
Affordability study	13,094		—		9.5	(3)
AFUDC equity gross-up	66,574		69,670		Various
AMI deferred revenue requirement	2,045		2,591		4
AROs (1)(7)	15,141		5,488
Bayou Vista to Segura transmission project deferred revenue requirement (7)	1,392		—
Coughlin transaction costs	845		876		27.5
COVID-19 executive order	2,953		2,953
Deferred storm restoration costs - Hurricane Delta (7)	17,113		17,051
Deferred storm restoration costs - Hurricane Ida (7)	37,617		—
Deferred storm restoration costs - Hurricane Laura (7)	54,282		54,406
Deferred storm restoration costs - Hurricane Zeta (7)	3,296		3,493
Deferred storm restoration costs - Winter Storms Uri & Viola (7)	1,912		—
Dolet Hills Power Station closure costs (7)	145,844		48,982
Emergency declarations	—		270
Energy efficiency	1,645		2,820		1
Financing costs (1)	6,826		7,184		Various	(4)
Interest costs	3,459		3,708		Various	(3)
Lignite Mine closure costs (7)	136,980		—
Madison Unit 3 property taxes (7)	8,362		—
Non-service cost of postretirement benefits	12,950		9,901		Various	(3)
Other	11,224		4,229		Various	(2)
Postretirement costs	117,773		165,437		Various	(5)
Production operations and maintenance expenses	11,058		4,058		Various	(6)
Rodemacher Unit 2 deferred costs (7)	6,931		1,333
St. Mary Clean Energy Center	6,089		3,479		3.5
Training costs	5,929		6,085		38
Tree trimming costs	9,092		11,807		3.5
Total regulatory assets	759,165		456,034
Regulatory liabilities
AFUDC (7)	—		(4,218)
Corporate franchise tax, net	—		(763)
Deferred taxes, net	(95,544)		(175,584)		Various	(2)
Total regulatory liabilities	(95,544)		(180,565)
Total regulatory assets, net	$	663,621	$	275,469
(1) Represents regulatory assets for past expenditures that were not earning a return on investment at December 31, 2021, and 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
	AT DEC. 31,				REMAINING RECOVERY PERIOD (YRS.)
(THOUSANDS)	2021		2020
Regulatory assets
Acadia Unit 1 acquisition costs	$	1,913	$	2,019	18
Accumulated deferred fuel (1)	56,826		28,194		Various	(2)
Affordability study	13,094		—		9.5	(3)
AFUDC equity gross-up	66,574		69,670		Various
AMI deferred revenue requirement	2,045		2,591		4
AROs (1)(7)	15,141		5,488
Bayou Vista to Segura transmission project deferred revenue requirement (7)	1,392		—
Coughlin transaction costs	845		876		27.5
COVID-19 executive order	2,953		2,953
Deferred storm restoration costs - Hurricane Delta (7)	17,113		17,051
Deferred storm restoration costs - Hurricane Ida (7)	37,617		—
Deferred storm restoration costs - Hurricane Laura (7)	54,282		54,406
Deferred storm restoration costs - Hurricane Zeta (7)	3,296		3,493
Deferred storm restoration costs - Winter Storms Uri & Viola (7)	1,912		—
Dolet Hills Power Station closure costs (7)	145,844		48,982
Emergency declarations	—		270
Energy efficiency	1,645		2,820		1
Financing costs (1)	6,826		7,184		Various	(4)
Interest costs	3,459		3,708		Various	(3)
Lignite Mine closure costs (7)	136,980		—
Madison Unit 3 property taxes (7)	8,362		—
Non-service cost of postretirement benefits	12,950		9,901		Various	(3)
Other	11,224		4,229		Various	(2)
Postretirement costs	117,773		165,437		Various	(5)
Production operations and maintenance expenses	11,058		4,058		Various	(6)
Rodemacher Unit 2 deferred costs (7)	6,931		1,333
St. Mary Clean Energy Center	6,089		3,479		3.5
Training costs	5,929		6,085		38
Tree trimming costs	9,092		11,807		3.5
Total regulatory assets	759,165		456,034
Regulatory liabilities
AFUDC (7)	—		(4,218)
Corporate franchise tax, net	—		(763)
Deferred taxes, net	(95,544)		(175,584)		Various	(2)
Total regulatory liabilities	(95,544)		(180,565)
Total regulatory assets, net	$	663,621	$	275,469
(1) Represents regulatory assets for past expenditures that were not earning a return on investment at December 31, 2021, and 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.