Cleco Corporate Holdings LLC

Overview Key strengths Key risks Lower-risk regulated utility. Exposure to a higher-risk, mostly contracted merchant generation portfolio that makes up about 25% of consolidated EBITDA. Forward-looking strategy geared toward increasing a regulated footprint. Consistently weaker financial measures that result in minimal cushion within the current assessment. Demonstrated ability to reach generally constructive regulatory outcomes. Higher exposure to severe storms and hurricanes. In June 2022, the Louisiana Electric Utility Energy Transition Securitization Act was passed into law. This law enables Louisiana electric utilities to use securitization financing for certain energy transition costs, including mine closure costs and stranded costs, and to collect the costs of securitization from Louisiana customers. Cleco Power LLC (Cleco Power), a subsidiary of Cleco Corp., filed an

...A new Louisiana law, Senate Bill (SB) 110, provides a credit-supportive mechanism to Cleco Corporate Holdings LLC (Cleco Corp.). In June 2022, the Louisiana Electric Utility Energy Transition Securitization Act was passed into law. This law enables Louisiana electric utilities to use securitization financing for certain energy transition costs, including mine closure costs and stranded costs, and to collect the costs of securitization from Louisiana customers. Cleco Power LLC (Cleco Power), a subsidiary of Cleco Corp., filed an application with Louisiana Public Service Commission (LPSC) requesting recovery of $326 million of stranded and decommissioning costs associated with the retirement of the Dolet Hills Power...

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