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Exhibit 12(a)

CLECO CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
AND EARNINGS TO COMBINED FIXED CHARGES
AND PREFERRED STOCK DIVIDENDS
 (UNAUDITED)

|                                                                              | For the
three
months
ended | For the
six
months
ended | For the 
twelve 
months 
ended
|----------------------------------------------------------------------------- | -------------------------- | ------------------------ | ------------------------------
|June 30, 2002                                                                
|(Thousands, except ratios)                                                   
|                                                                              |                            |                          |                               
|Earnings from continuing operations                                           | $     17,782               | $    31,835              | $     77,938                  
|Income taxes                                                                  | 9,564                      | 17,666                   | 41,974                        
|                                                                              |                            |                          |                               
|Earnings from continuing operations before income taxes                       | $     27,346               | $    49,501              | $   119,912                   
|                                                                              | =======                    | =======                  | =======                       
|                                                                              |                            |                          |                               
|Fixed charges:                                                                |                            |                          |                               
|Interest, long-term debt                                                      | $     13,511               | $    26,489              | $     52,316                  
|Interest, other (including interest on short-term debt)                       | 1,736                      | 2,929                    | 816                           
|Amortization of debt expense, premium, net                                    | 619                        | 1,135                    | 2,186                         
|Portion of rentals representative of an interest factor                       | 164                        | 349                      | 680                           
|                                                                              |                            |                          |                               
|Total fixed charges                                                           | $     16,030               | $    30,902              | $     55,998                  
|                                                                              | =======                    | =======                  | =======                       
|                                                                              |                            |                          |                               
|Earnings from continuing operations before income taxes                       | $     27,346               | $    49,501              | 119,912                       
|Plus: total fixed charges from above                                          | 16,030                     | 30,902                   | 55,998                        
|Plus: amortization of capitalized interest                                    | 180                        | 359                      | 718                           
|Less: long-term interest capitalized                                          | (2,832)                    | (5,504)                  | (11,110)                      
|                                                                              |                            |                          |                               
|Earnings from continuing operations before income 
   taxes and fixed charges | $     40,724               | $    75,258              | $   165,518                   
|                                                                              | =======                    | =======                  | =======                       
|                                                                              |                            |                          |                               
|Ratio of earnings to fixed charges                                            | 2.54 x                     | 2.44 x                   | 2.96 x                        
|                                                                              | =======                    | =======                  | =======                       
|                                                                              |                            |                          |                               
|Total fixed charges from above                                                | $     16,030               | $    30,902              | $     55,998                  
|Preferred stock dividends*                                                    | 537                        | 1,094                    | 2,203                         
|                                                                              |                            |                          |                               
|Total fixed charges and preferred stock dividends                             | $     16,567               | $    31,996              | $     58,201                  
|                                                                              | =======                    | =======                  | =======                       
|                                                                              |                            |                          |                               
|Ratio of earnings to combined fixed charges and 
   preferred stock dividends | 2.46 x                     | 2.35 x                   | 2.84 x                        
|                                                                              | =======                    | =======                  | =======                       

*  Preferred stock dividends multiplied by the ratio of pretax income to net income.

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