NEW YORK (Standard&Poor's) July 14, 2006--Standard&Poor's Ratings Services said today that Cleco Power LLC's (BBB/Negative/--) recently approved rate plan extension is positive for the company's credit quality, but does not affect company ratings. The Louisiana Public Service Commission approved a rate plan extension that will begin on Oct. 1, 2006, after the company's existing plan expires at the end of September 2006. Although the new plan's allowed ROE of 11.25% is lower than the company's existing 12.25%, the rate plan extension supports credit quality, because it eliminates rate uncertainty during the construction period of the company's Rodemacher 3,600 MW coal-fired unit. The rate plan extension further provides that 60% of any earnings between 11.25% and 12.25%
