Regulatory Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2022

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)	2022		2021
Total Cleco Power regulatory assets, net	$	436,448	$	663,621
2016 Merger adjustments (1)
Fair value of long-term debt	104,748		112,150
Postretirement costs	11,436		13,424
Financing costs	6,904		7,248
Debt issuance costs	4,587		4,920
Total Cleco regulatory assets, net	$	564,123	$	801,363

(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)	2022		2021
Total Cleco Power regulatory assets, net	$	436,448	$	663,621
2016 Merger adjustments (1)
Fair value of long-term debt	104,748		112,150
Postretirement costs	11,436		13,424
Financing costs	6,904		7,248
Debt issuance costs	4,587		4,920
Total Cleco regulatory assets, net	$	564,123	$	801,363

(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)	2022		2021
Regulatory assets
Acadia Unit 1 acquisition costs	$	1,807	$	1,913	17
Accumulated deferred fuel (1)	57,881		56,826		Various	(9)
Affordability study	11,715		13,094		8.5
AFUDC equity gross-up	63,477		66,574		Various	(2)
AMI deferred revenue requirement	1,499		2,045		3.25
AROs (1)(8)	17,218		15,141
Bayou Vista to Segura transmission project deferred revenue requirement	2,510		1,392		0.5
Coughlin transaction costs	815		845		26.5
COVID-19 executive order (8)	2,953		2,953
Deferred lignite and mine closure costs (8)	133,587		136,980
Deferred storm restoration costs - Hurricane Delta (6)	109		17,113
Deferred storm restoration costs - Hurricane Ida (7)	9,409		37,617
Deferred storm restoration costs - Hurricane Laura (6)	457		54,282
Deferred storm restoration costs - Hurricane Zeta (6)	9		3,296
Deferred storm restoration costs - Winter Storms Uri & Viola	—		1,912
Dolet Hills Power Station closure costs (8)	147,082		145,844
Energy efficiency	235		1,645		0.25
Financing costs (1)	6,456		6,826		Various	(3)
Interest costs	3,210		3,459		Various	(2)
Madison Unit 3 property taxes	13,038		8,362		Various	(9)
Non-service cost of postretirement benefits	14,810		12,950		Various	(2)
Other	14,114		11,224		Various	(9)
Postretirement costs	47,317		117,773		Various	(4)
Production operations and maintenance expenses	10,443		11,058		Various	(5)
Rodemacher Unit 2 deferred costs (8)	12,645		6,931
St. Mary Clean Energy Center	4,350		6,089		2.5
Training costs	5,774		5,929		37
Tree trimming costs	6,377		9,092		2.25
Total regulatory assets	589,297		759,165
Regulatory liabilities
Deferred taxes, net	(34,087)		(95,544)		Various	(9)
Storm reserves	(118,762)		—		Various	(9)
Total regulatory liabilities	(152,849)		(95,544)
Total regulatory assets, net	$	436,448	$	663,621
(1) Represents regulatory assets for past expenditures that were not earning a return on investment at December 31, 2022, and 2021, respectively. All other assets are earning a return on investment. (2) Amortized over the estimated lives of the respective assets. (3) Amortized over the terms of the related debt issuances. (4) Amortized over the average service life of the remaining plan participants. (5) Deferral is recovered over the following three-year regulatory period. (6) From June 1, 2021, through August 31, 2022, these were being recovered through the interim storm recovery rate. For more information, see Note 19 — “Securitization.” (7) Currently not in a recovery period. The balance remaining represents amounts under prudency review by the LPSC. (8) Currently not in a recovery period. (9) For more information on the remaining recovery period, refer to the following disclosures for each specific regulatory asset or liability.

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)	2022		2021
Regulatory assets
Acadia Unit 1 acquisition costs	$	1,807	$	1,913	17
Accumulated deferred fuel (1)	57,881		56,826		Various	(9)
Affordability study	11,715		13,094		8.5
AFUDC equity gross-up	63,477		66,574		Various	(2)
AMI deferred revenue requirement	1,499		2,045		3.25
AROs (1)(8)	17,218		15,141
Bayou Vista to Segura transmission project deferred revenue requirement	2,510		1,392		0.5
Coughlin transaction costs	815		845		26.5
COVID-19 executive order (8)	2,953		2,953
Deferred lignite and mine closure costs (8)	133,587		136,980
Deferred storm restoration costs - Hurricane Delta (6)	109		17,113
Deferred storm restoration costs - Hurricane Ida (7)	9,409		37,617
Deferred storm restoration costs - Hurricane Laura (6)	457		54,282
Deferred storm restoration costs - Hurricane Zeta (6)	9		3,296
Deferred storm restoration costs - Winter Storms Uri & Viola	—		1,912
Dolet Hills Power Station closure costs (8)	147,082		145,844
Energy efficiency	235		1,645		0.25
Financing costs (1)	6,456		6,826		Various	(3)
Interest costs	3,210		3,459		Various	(2)
Madison Unit 3 property taxes	13,038		8,362		Various	(9)
Non-service cost of postretirement benefits	14,810		12,950		Various	(2)
Other	14,114		11,224		Various	(9)
Postretirement costs	47,317		117,773		Various	(4)
Production operations and maintenance expenses	10,443		11,058		Various	(5)
Rodemacher Unit 2 deferred costs (8)	12,645		6,931
St. Mary Clean Energy Center	4,350		6,089		2.5
Training costs	5,774		5,929		37
Tree trimming costs	6,377		9,092		2.25
Total regulatory assets	589,297		759,165
Regulatory liabilities
Deferred taxes, net	(34,087)		(95,544)		Various	(9)
Storm reserves	(118,762)		—		Various	(9)
Total regulatory liabilities	(152,849)		(95,544)
Total regulatory assets, net	$	436,448	$	663,621
(1) Represents regulatory assets for past expenditures that were not earning a return on investment at December 31, 2022, and 2021, respectively. All other assets are earning a return on investment. (2) Amortized over the estimated lives of the respective assets. (3) Amortized over the terms of the related debt issuances. (4) Amortized over the average service life of the remaining plan participants. (5) Deferral is recovered over the following three-year regulatory period. (6) From June 1, 2021, through August 31, 2022, these were being recovered through the interim storm recovery rate. For more information, see Note 19 — “Securitization.” (7) Currently not in a recovery period. The balance remaining represents amounts under prudency review by the LPSC. (8) Currently not in a recovery period. (9) For more information on the remaining recovery period, refer to the following disclosures for each specific regulatory asset or liability.